Purpose Investments has completed the initial public offering of the exchange traded series of shares of the Purpose Diversified Real Asset Fund.
The ETF shares of the fund will commence trading on the Toronto Stock Exchange today under the ticker symbol PRA.
The launch is part of Purpose’s first series of open-ended funds for Canadian investors. The fund is a separate class of shares of Purpose Fund Corp (a corporate class) and the ETF Shares are a series of such class. Each corporate class is a separate investment fund having specific investment objectives and is specifically referable to a separate portfolio of investments.
The fund will initially offer ETF shares and three mutual fund series namely, Class A, Class F and Class I shares, which will allow investors to access the funds based on their preferred investment style.
The fund seeks to provide shareholders with exposure to a diversified portfolio of asset classes that are directly or indirectly linked to physical assets with positive correlation to inflation and are expected to maintain their real (after inflation) value over time. These assets may include precious metals and related equities; industrial, energy and agricultural commodities and related equities; real estate investment trusts; emerging market currencies; real return bonds and treasury inflation-protected securities and cash.
