Purpose goes international

Toronto-based Purpose Investments Inc. has launched two international investment funds. Purpose International Dividend Fund invests in high-quality international companies outside of Canada and the U.S. that pay good dividends and show the ability to grow those dividends in future. Purpose International Tactical Hedged Equity Fund employs a rules-based portfolio-selection strategy from a universe of international stocks, excluding stocks from Canada and the U.S. This fund also employs a hedging strategy to reduce market risk or risks in specific regions, including Japan, the U.K., the eurozone, Switzerland or Australia. For both funds, advisor commissions for front-end sales are 0%-5%, trailing commissions are up to 1% and there are no deferred sales charges. Management fees for Purpose International Dividend Fund are 1.55% for A-class units and 0.55% for F-class units. Management fees for the Tactical Hedged Equity Fund are 1.8% for A-class units and 0.8% for F-class units. Minimum investment is $5,000 for both funds. Exchange-traded fund (ETF) shares of both funds also are available on the Toronto Stock Exchange. The management fee for the ETF shares of Purpose International Dividend Fund is 0.55%; for ETF shares of Purpose Tactical Hedged Equity Fund, the fee is 0.8%. There is no minimum investment for the ETF shares.

(fcollie@investmentexecutive.com).