New alternative funds from Purpose

Toronto-based Purpose Investments Inc. has added new alternative investment funds, Purpose Multi-Strategy Market Neutral Fund and Purpose Enhanced U.S. Equity Fund, in both currency-hedged and non-currency-hedged versions. Purpose Multi-Strategy Market Neutral Fund utilizes a multi-strategy approach to provide positive absolute returns through a group of non-market-correlated assets and seeks to provide positive absolute returns that are not correlated to the broader equities or bond markets. This fund will utilize a multi-strategy approach by allocating its assets across various asset classes, including equities, currencies and commodities. Purpose Enhanced U.S. Equity Fund is designed to provide long-term capital appreciation and a superior risk-adjusted return relative to the broad U.S. equities markets. As well, this fund aims to provide returns in excess of the broad U.S. equities markets by investing in a leveraged portfolio of U.S. equities while maintaining a similar level of volatility as the broad U.S. equities markets. Purpose Investments currently offers 10 ETFs and mutual funds and two closed-end funds.

(cohara@investmentexecutive.com).