TORONTO, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) today announced changes to the risk ratings for 16 public investment funds under its management (collectively, the “Funds”). These changed risk ratings have been determined in accordance with the standardized risk classification methodology mandated by the Canadian Securities Administrators. In the course of internal reviews, Purpose noted that the Funds have been inadvertently reporting incorrect risk ratings. Effective immediately, the new risk ratings of the Funds are set out in the table below.
The following Funds have a risk rating increase:
| Fund Name | Ticker Symbol | Current Risk Rating | New Risk Rating |
| Purpose Global Bond Class | TSX: IGB | Low | Low to Medium |
| Purpose Enhanced Premium Yield Fund | TSX: PAYF | Low to Medium | Medium |
| Purpose Best Ideas Fund | TSX: PBI, PBI.B | Medium | Medium to High |
| Purpose Core Dividend Fund | TSX: PDF | Low to Medium | Medium |
| StoneCastle Equity Growth Fund | - | Medium to High | High |
| StoneCastle Income Growth Fund | - | Low to Medium | Medium |
| Purpose Core Equity Income Fund | CBOE: RDE | Low to Medium | Medium |
| Purpose Enhanced Dividend Fund | TSX: PDIV | Low to Medium | Medium |
| Purpose International Dividend Fund | TSX: PID | Low to Medium | Medium |
| Purpose Emerging Markets Dividend Fund | CBOE: REM | Low to Medium | Medium |
| Amazon (AMZN) Yield Shares Purpose ETF | CBOE: YAMZ | Medium | Medium to High |
| Tesla (TSLA) Yield Shares Purpose ETF | CBOE: YTSL | Medium to High | High |
| Alphabet (GOOGL) Yield Shares Purpose ETF | CBOE: YGOG | Medium | Medium to High |
| Apple (AAPL) Yield Shares Purpose ETF | CBOE: APLY | Medium | Medium to High |
The following Funds have a risk rating decrease:
| Fund Name | Ticker Symbol | Current Risk Rating | New Risk Rating |
| Longevity Pension Fund | - | Low to Medium | Low |
| Purpose Gold Bullion Fund | TSX: KILO, KILO.B, KILO.U | Medium to High | Medium |
There is no change to the investment objectives, strategies, or management of the Funds associated with the new risk ratings. The above changes will be reflected in the Funds’ prospectuses (where applicable), fund facts documents, and/or ETF facts documents, which will be available on the SEDAR+ website (www.sedarplus.ca).
Purpose has reviewed and updated its internal communication protocols to ensure all practices are sound.
About Purpose Investments Inc.
Purpose Investments is an asset management company with approximately $20 billion in assets 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 Unlimited, an independent technology-driven financial services company.
For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. 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.