Grand opening, cutting red ribbon

Toronto-based Purpose Investments Inc. announced the launch of the Purpose Structured Equity Yield Portfolio II on Tuesday.

The new fund offers a diverse portfolio that aims to generate high income with a low correlation to broad equity markets, a release said. 

It’s designed to replicate the outcome of several structured notes using an actively managed derivatives-based strategy, coupling downside protection with a tax-efficient yield. 

“Given the recent turbulence in the markets, we want to give investors the ability to access a product with the appropriate levels of contingent downside protection for the current environment,” said Som Seif, founder and CEO of Purpose Investments.

The new offering is available now as Series F and Series A mutual funds.