It is one of very few investment-grade bond funds available in the tax-advantaged corporate class structure
Purpose Investments has completed the initial public offering of ETF shares for the Purpose Managed Duration Investment Grade Bond Fund. The shares have begun trading on the TSX under the ticker symbol IGB.
“We are delighted to continue the expansion of Purpose’s ETF lineup, providing investors with maximum access and flexibility to our innovative products,” said Purpose Investments President and CEO Som Seif.
According to Seif, the Purpose Managed Duration Investment Grade Bond Fund is one of very few bond funds for investors in the tax-advantaged corporate class structure. It features active duration management, a focus on capital preservation, and a tax-advantaged yield, which he said makes it a compelling fixed-income offering in a rising-interest-rate environment.
The fund portfolio provides diversified exposure to corporate, government, and/or other debt-like securities. They include corporate bonds, notes, floating rate notes, convertible bonds, preferred shares, bank loans, government bonds and other income-producing securities.
The fund is managed by Sandy Liang, CFA, who has more than 25 years of experience managing credit investments, including 17 years in Wall Street. The ETF shares of IGB come with a management fee of 0.5%.