Innovative credit strategy now made available to investors in US dollars through new offering
Purpose Investments is launching a new USD ETF series for one of its award-winning funds.
The Purpose Credit Opportunities Fund will now trade on the Toronto Stock Exchange under the ticker CROP.U.
The fund aims to maximize total returns for unitholders, which include both distributions and capital growth.
To achieve its investment objectives, the fund invests, directly or indirectly, primarily in debt and equity securities of non-investment grade, publicly traded issuers.
Read more: Where are the opportunities in volatile fixed-income market?
A consistent Canadian Hedge Fund Awards winner in the Credit Focused category – it has won within that category the past four years in a row for various measurement periods – is actively managed by Sandy Liang, Head of Fixed Income at Purpose.
A veteran of Wall Street with over 30 years of experience in credit investment management, Liang is a Morningstar 5-Star fund manager.
“The U.S. Federal Reserve is on track to increase interest rates faster than other major countries, making the U.S. dollar attractive to investors,” Liang said in a statement.
Read more: Federal Reserve stays hawkish with jumbo-sized rate hike
“The Fund’s Canadian investor base is becoming more diversified, and the international investor segment is growing, many of whom view the U.S. dollar as the world’s currency reserve,” he added. “So, we are excited to make this award-winning strategy available to all.”
With a successful track record since its inception in 2013, the fund combines active, bottom-up credit research and risk management. It employs various hedging tools to achieve income, while also reducing volatility without employing leverage.
