Purpose Investments Inc. (“Purpose Investments” or “Purpose”) is pleased to announce its participation in a significant advancement to the operational framework of the Canadian and U.S. securities markets: the transition from a T+2 to T+1 settlement cycle.

In conjunction with Canadian and U.S. security markets, Purpose will shorten its settlement cycles for several funds to T+1 from T+2, effective May 27, 2024. The decision to transition to T+1 settlements comes as part of Purpose’s ongoing efforts to stay on the leading edge of evolving market trends and regulatory requirements. By reducing settlement times by one business day, Purpose aims to streamline operations and ensure a quicker and smoother experience for clients buying and selling stocks.

The list of Purpose ETFs below will be transitioning to a T+1 settlement schedule. U.K., E.U. and Asian markets have yet to commit to T+1 Settlement but are in discussions to convert to T+1 no earlier than 2025.

Ticker CUSIP CUSIP Name
YGOG 02080B104 Alphabet (GOOGL) Yield Shares Purpose ETF
YAMZ 02314T103 Amazon (AMZN) Yield Shares Purpose ETF
APLY 03783G101 Apple (AAPL) Yield Shares Purpose ETF
BRKY 08465C104 Berkshire Hathaway (BRK) Yield Shares Purpose ETF
MSFY 59516H105 Microsoft (MSFT) Yield Shares Purpose ETF
YNVD 654938109 NVIDIA (NVDA) Yield Shares Purpose ETF
YTSL 88161X107 Tesla (TSLA) Yield Shares Purpose ETF
PABF 74639A101 Purpose Active Balanced Fund
PACF 74639B109 Purpose Active Conservative Fund
PAGF 74639C107 Purpose Active Growth Fund
PBI 74640J109 Purpose Best Ideas Fund
PBI.B 74640J208 Purpose Best Ideas Fund - Non-Currency Hedged
BTCY 74642T105 Purpose Bitcoin Yield ETF
BTCY.B 74642T204 Purpose Bitcoin Yield ETF - Non-Currency Hedged
BTCY.U 74642T303 Purpose Bitcoin Yield ETF - Non-Currency Hedged USD
BNC 74641F106 Purpose Canadian Financial Income Fund
RPS 74642D100 Purpose Canadian Preferred Share Fund
PRP 74641W109 Purpose Conservative Income Fund
PDF 74639Y109 Purpose Core Dividend Fund
RDE 74642L102 Purpose Core Equity Income Fund
CROP 74643L101 Purpose Credit Opportunities Fund
CROP.U 74643L200 Purpose Credit Opportunities Fund - Non-Currency Hedged USD
PRA 74639Y406 Purpose Diversified Real Asset Fund
PDIV 74640V102 Purpose Enhanced Dividend Fund
PAYF 74642M100 Purpose Enhanced Premium Yield Fund
ETHY 74642R109 Purpose Ether Yield ETF
ETHY.B 74642R208 Purpose Ether Yield ETF - Non-Currency Hedged
ETHY.U 74642R307 Purpose Ether Yield ETF - Non-Currency Hedged USD
IGB 74642H101 Purpose Global Bond Class
BND 74641B105 Purpose Global Bond Fund
FLX 74643C101 Purpose Global Flexible Credit Fund
FLX.B 74643C200 Purpose Global Flexible Credit Fund - Non-Currency Hedged
FLX.U 74643C309 Purpose Global Flexible Credit Fund - Non-Currency Hedged USD
PINV 74641A107 Purpose Global Innovators Fund
KILO 74642E306 Purpose Gold Bullion Fund
KILO.B 74642E108 Purpose Gold Bullion Fund - Non-Currency Hedged
KILO.U 74642E207 Purpose Gold Bullion Fund - Non-Currency Hedged USD
MJJ 74641T106 Purpose Marijuana Opportunities Fund
PIN 74639Y307 Purpose Monthly Income Fund
PINC 74641M101 Purpose Multi-Asset Income Fund
PMM 74640H103 Purpose Multi-Strategy Market Neutral Fund
PYF 74641L103 Purpose Premium Yield Fund
PYF.B 74641L202 Purpose Premium Yield Fund - Non-Currency Hedged
PYF.U 74641L301 Purpose Premium Yield Fund - Non-Currency Hedged USD
PHR 74640L104 Purpose Real Estate Income Fund
SBT 74641C103 Purpose Silver Bullion Fund
SBT.B 74641C202 Purpose Silver Bullion Fund - Non-Currency Hedged
SYLD 74641N109 Purpose Strategic Yield Fund
RTA 74642G103 Purpose Tactical Asset Allocation Fund
PHE 74639Y208 Purpose Tactical Hedged Equity Fund
PHE.B 74640M102 Purpose Tactical Hedged Equity Fund - Non-Currency Hedged
RTT 74640U104 Purpose Tactical Thematic Fund
PBD 74639Y505 Purpose Total Return Bond Fund
PUD 74640K106 Purpose U.S. Dividend Fund
PUD.B 74640K205 Purpose U.S. Dividend Fund - Non-Currency Hedged
RPU 74641R100 Purpose U.S. Preferred Share Fund
RPU.B 74641R308 Purpose U.S. Preferred Share Fund - Non-Currency Hedged
RPU.U 74641R209 Purpose U.S. Preferred Share Fund - Non-Currency Hedged USD

Purpose’s Canadian-listed ETFs holding international assets, Purpose Emerging Markets Fund, Purpose International Dividend Fund and Purpose International Tactical Hedged Equity Fund will continue their existing T+2 settlement cycle until further notice.

See below a detailed timeline of the T+1 transition.

  Friday May 24, 2024 Monday May 27, 2024 Tuesday May 28, 2024
ETFs with Canadian/U.S. Underlying Assets Final trade date for T+2 Settlement First trade date for T+1 Settlement T+1 Settlement on all tradesDouble settlement date
ETFs with International Underlying Assets T+2 Settlement on all trades T+2 Settlement on all trades T+2 Settlement on all trades

The transition from T+2 to T+1 settlements will be implemented in accordance with regulatory requirements and market standards. Purpose will work closely with its partners, clients, and regulatory bodies to ensure a smooth and seamless transition process.

For more information about Purpose Investments and its transition to T+1 settlements, please visit www.purposeinvest.com or contact our operations team at operations@purposeinvest.com.

About Purpose Investments

Purpose Investments Inc. is an asset management company with more than $19 billion in assets 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.

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.

The content of this document is for informational purposes only, and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this information and any representation to the contrary is an offence. Information contained in this document is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice.

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.

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