High-interest ETF from Purpose

Toronto-based Purpose Investments Inc. has introduced Purpose High Interest Savings ETF, one of the first high- interest savings exchanged-traded funds (ETFs) in Canada. The ETF will provide investors with greater yield than traditional money market funds by seeking to maximize monthly income while preserving capital and liquidity. It will invest the majority of its assets in high-interest deposit accounts with one or more chartered banks and/or Canadian credit unions.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).