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Toronto-based Purpose Investments Inc. has expanded its structured product suite, with the launch of the Purpose Structured Equity Growth Fund.

The fund will be available in two series, F and A, and the management fees will be 0.65% and 1.65%, respectively.

Through the use of an actively managed derivatives-based strategy, the fund aims to provide capital appreciation and downside protection, a release said. It also has “a lower correlation to broad equity markets,” and focuses on global and North American markets with strong fundamentals.

Other funds in the suite include the Purpose Structured Equity Yield Portfolio and Purpose Structured Equity Yield Portfolio II.

“We heard from investors that they’d like a similar solution geared towards growth rather than income. We did the research and built this exciting new solution,” said Som Seif, the firm’s CEO and founder, in a release.