CIBC Mellon said Wednesday that Toronto-based Purpose Investments Inc. has selected the company to deliver a full suite of asset servicing services.

CIBC Mellon will provide the newly launched investment firm with including custody, fund accounting, ETF administration and securities lending services.

“Purpose Investments is focused on offering great investment strategies at fair prices, and bringing real value and innovation to the Canadian marketplace,” said Som Seif, president and CEO of Purpose, in a release.

“We have had a successful past working relationship with CIBC Mellon and their proven asset servicing expertise and outstanding technology, which will help our firm deliver strong performance while keeping investment costs down.”