Toronto-based Purpose Investments Inc. Wednesday announced the launch of two new international investment funds, Purpose International Dividend Fund (TSX:PID) and Purpose International Tactical Hedged Equity Fund (TSX:PHW).
Purpose has completed the initial public offering of the ETF units of Purpose International Dividend Fund and ETF shares of Purpose International Tactical Hedged Equity Fund. The units and shares began trading on the Toronto Stock Exchange today.
“Today’s launch of our two new funds represents an expansion of our fund family outside of North America and into international equity markets for two popular and intelligent investment strategies already offered by Purpose,” said Som Seif, president and CEO of Purpose.
“Purpose Core Dividend Fund and Purpose Tactical Hedged Equity Fund have both demonstrated strong and stable returns since their inception and we believe that applying the same innovative strategies used by these funds to a portfolio of international equity securities will provide investors with important geographic diversification and returns that are consistently better than those of a benchmark index.”
Purpose International Dividend Fund consists of a diversified portfolio comprised of the highest quality international companies with not only a history of paying good dividends, but more importantly, the capacity to pay and grow their dividends in the future. The fund invests in an equally weighted portfolio of high quality dividend-paying equity securities of international issuers based on a fundamental rules-based portfolio selection strategy that is intended to create value and reduce risk over the investment period.
Purpose International Tactical Hedged Equity Fund targets global market returns with substantially less market volatility by dynamically hedging the market risk exposure of the portfolio. The fund uses a fundamental rules-based portfolio selection strategy to select a long portfolio of relative value and quality equities from a universe of international stocks.
The fund will tactically hedge its market risk exposure to each international market (i.e. Japan, UK, Eurozone, Switzerland, Australia, Netherlands) based on the risks each market presents.
The goal of the fund is to provide a more stable and conservative way to own international equities in order to achieve an attractive risk-adjusted return.
Purpose has over $1 billion in assets under management and currently offers 13 exchange traded funds and mutual funds and two closed-end funds