Subjects: ANNUAL MEETINGS, SHAREHOLDER RIGHTS PLANS, CORPORATE OFFICERS, MUTUAL FUNDS
Purpose Investments Inc. Announces 2023 Final Annual Income and Capital Gains Distributions
TORONTO, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Purpose Investments Inc. ("Purpose") today announced the final annual distributions of income and capital gains for its open-end exchange-traded funds structured as mutual fund trusts (the "Funds") with a December 15, 2023 tax year-end. The distributions represent income earned and capital gains realized by the Funds during the year.
Details of the per unit distribution amounts are as follows:
Final Annual Distributions of Income
| Purpose Mutual Fund Trusts | Ticker Symbol | Exchange | Final Annual Income Distribution Per Unit | Distribution Type (Cash or Notional) | |
| Purpose Global Bond Fund ? ETF Units | BND | TSX | $0.1050 | Cash Distribution | |
| Purpose Global Flexible Credit Fund ? ETF Units | FLX | TSX | $0.0640 | Cash Distribution | |
| Purpose Global Flexible Credit Fund ? ETF Non-Currency Hedged Units | FLX.B | TSX | $0.0740 | Cash Distribution | |
| Purpose Global Flexible Credit Fund ? ETF Non-Currency Hedged USD Units | FLX.U | TSX | US $ 0.0530 | Cash Distribution | |
| Purpose Energy Transition Fund ? ETF Units | CLMT | TSX | $0.2900 | Cash Distribution | |
ETF Series unitholders of record at the close of business on December 29, 2023 will receive the 2023 annual income distributions on January 5, 2024. The ex-distribution date for the 2023 annual income distributions will be December 28, 2023.
Final Annual Capital Gains Distributions
| Purpose Mutual Fund Trusts | Ticker Symbol | Exchange | Final Annual Capital Gain Distribution Per Unit | Distribution Type (Cash or Notional) | |
| Amazon (AMZN) Yield Shares Purpose ETF ? ETF Units | YAMZ | Cboe Canada | $2.7000 | Notional Distribution | |
| Tesla (TSLA) Yield Shares Purpose ETF ? ETF Units | YTSL | Cboe Canada | $2.0300 | Notional Distribution | |
| Berkshire Hathaway (BRK) Yield Shares Purpose ETF ? ETF Units | BRKY | Cboe Canada | $1.5700 | Notional Distribution | |
| Alphabet (GOOGL) Yield Shares Purpose ETF ? ETF Units | YGOG | Cboe Canada | $3.2500 | Notional Distribution | |
The annual capital gains distributions for the funds listed in table above will be paid as notional distributions. With a notional distribution, the units issued from the distribution are immediately consolidated with the units held prior to the distribution. The number of units held after the distribution is therefore identical to the number of units held before the distribution.
The notional capital gain distributions will be applied to ETF holders of record as at the close of business on December 22, 2023. The ex-distribution date for the notional capital gain distributions will be December 21, 2023.
The actual breakdown of taxable amounts of reinvested and cash distributions for 2023, including tax factor allocations, will be reported to the brokers through CDS Clearing and Depository Services Inc. in early 2024.
As an update to the press release issued on November 29, 2023, Purpose confirms that Purpose Ether Yield ETF and Apple (AAPL) Yield Shares Purpose ETF will not declare a special annual distribution in 2023.
Purpose expects to announce the final year-end distributions for Purpose High Interest Savings Fund ? ETF Units, Purpose US Cash Fund ? ETF Units, Purpose Cash Management Fund ? ETF Units, Purpose USD Cash Management Fund ? ETF Units, and Black Diamond Impact Core Equity Fund ? ETF Units on or about December 29, 2023, if necessary.
Purpose expects to announce the final annual capital gain distributions for Purpose Fund Corp. and Big Banc Split Corp. on or about January 23, 2024, if necessary. Shareholders of record on January 29, 2024 will receive the annual capital gains distributions on February 1, 2024, and such capital gains will be applicable for the 2023 tax year. The final year-end capital gains distributions for these funds will be paid in cash. Purpose confirms that Purpose Mutual Funds Limited funds will not declare annual capital gain distributions for the 2023 tax year.
About Purpose Investments
Purpose Investments is an asset management company with more than $18 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 Unlimited, an independent technology-driven financial services company.
For further information please contact:
Keera Hart
[email protected]
905-580-1257
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 US news wire services.
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