Purpose Investments Files Preliminary Prospectus for the Limited Duration Investment Grade Preferred Securities Fund

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TORONTO, April 30, 2013 /CNW/ - Purpose Investments Inc. ("Purpose") is pleased to announce that it has filed a preliminary prospectus for the Limited Duration Investment Grade Preferred Securities Fund (the "Fund"). The Fund's initial public offering will consist of class A and class F Units at a price of $25.00 per Unit. The Fund will be managed by Purpose.

The Fund's investment objectives are: (i) to provide holders of Units with a stable stream of monthly distributions; (ii) to preserve the net asset value per Unit; and (iii) to reduce the risk of rising interest rates by managing portfolio duration.

The initial distribution target for the Fund is $0.125 per Unit per month ($1.50 per annum to yield 6.0% on the subscription price of $25.00 per Unit).

Units of the Fund are being offered on a best efforts basis in each of the provinces and territories in Canada through a syndicate of investment dealers co-led by TD Securities Inc., CIBC, RBC Capital Markets and including BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Scotiabank, Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated and Rothenberg Capital Management Inc.

A preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the agents noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

SOURCE: Purpose Investments Inc.

Dan Rubin
Vice President, Marketing
Purpose Investments Inc.
416-583-3853
[email protected]