Purpose Investments has launched the Purpose US Dividend Fund (PUD). The iPO of the currency hedged ETF units and non-currency hedged ETF units has closed and the ETF units are trading on the Toronto Stock Exchange.
“With the success of the Purpose Core Dividend Fund and the continued demand for income oriented equity solutions, it was important for us to expand our traditional line-up to include the Purpose US Dividend Fund," says Som Seif, President and Chief Executive Officer of Purpose Investments. "For Canadians seeking to increase their exposure to the US economy, this fund is composed entirely of high-quality dividend-paying US equities. The Fund will use Purpose's proven fundamental rules-based security selection to not only select companies that have a consistent history of providing income to shareholders, but more importantly have the fundamentals to continue to grow their businesses and dividends in the future."
The Purpose US Dividend Fund is a diversified portfolio of high quality US companies with the capacity to pay and grow their dividends. This Fund is guided by a fundamental rules-based strategy that provides investors with attractive monthly distributions and the potential for long-term growth.