Toronto-based Purpose Investments Inc. expanded its structured product suite on Tuesday with the launch of the Purpose Structured Equity Yield Plus Portfolio.
The fund is available in two series, F and A, and the management fees are 0.65% and 1.65%, respectively.
Using derivative-based strategies, the fund focuses on North American and global equities, a release said. It also has “a lower correlation to broad equity markets,” and seeks to offer an alternative to traditional fixed income and equity portfolios.
Other funds in the suite include the Purpose Structured Equity Yield Portfolio and the Purpose Structured Equity Yield Portfolio II.