Purpose Investments Inc. Confirms the Automatic Conversion of Class A2 Units into Class T Units of Investment Grade Managed Duration Income Fund

TORONTO, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Purpose Investments Inc., the manager of Investment Grade Managed Duration Income Fund (the "Fund"), announced today that the Class A2 units of the Fund were automatically converted in accordance with their terms into Class T units effective October 4, 2018. The exchange ratio used for the conversion is 1.034668 Class T units for each Class A2 unit converted. The Class T units are exchange traded under ticker symbol PFU.UN on the Aequitas NEO Exchange. No fractional Class T units or cash in lieu thereof will be issued or paid under the automatic conversion. Unitholder holdings will be updated by the Canadian Depository for Securities Limited and their participant dealers.

About Purpose Investments

Purpose Investments is an asset management company with approximately $6.1 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

For further information please contact:

Matt Padanyi
Purpose Investments Inc.
Tel: (877) 789-1517
Email: [email protected]

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to U.S. news wire services.