TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce that it has elected to increase the annual distribution target on the Purpose Global Bond Fund (TSX: BND) and Purpose Global Bond Class (TSX: IGB) from 4.65% to 5.15%. In addition, the annual distribution target for Purpose Global Flexible Credit Bond Fund (TSX: FLX) will also increase from 5.50% to 6.25%. The new monthly distribution amounts are shown in the table below and will be effective as of December 2023.
| Fund Name | Ticker | New Monthly Distribution per Share/Unit |
|
| Purpose Global Bond Fund – ETF Units | BND | $0.0712 | |
| Purpose Global Bond Class – ETF Series | IGB | $0.0729 | |
| Purpose Global Flexible Credit Fund – ETF Units | FLX | $0.0355 | |
| Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged Units | FLX.B | $0.0421 | |
| Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged USD Units | FLX.U | $0.0294 | |
Based on the funds’ continued capital allocation in the new bond issue market coupled with the current interest rate environment, Purpose is able to increase the monthly distribution rates for the above-mentioned funds.
About Purpose Investments
Purpose Investments is an asset management company with more than $18 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies – including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds – on behalf of institutions, advisors and individual investors globally. The firm manages $439 billion in client assets as of September 30, 2023.
For further information, please contact:
Keera Hart
[email protected]
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.
