First-of-its-kind Canadian fund centres on biotech and healthcare innovation
Purpose Investments has proudly announced the launching of the Purpose Healthcare Innovation Yield ETF. The fund's shares are now trading on the TSX under the ticker code, HEAL.
Purpose Healthcare Innovation Yield ETF provides active exposure to innovation leaders in biotechnology and healthcare. Recent developments promise to launch a groundbreaking new multi-year cycle in those spaces that offers investors attractive long-term profit opportunities.
The Fund will invest in an all-cap portfolio in high-growth areas, including genetic editing, digital healthcare, medical testing, dentistry, health maintenance, hospitals, pharmacies and animal health. Thanks to commercialization prospects and a strong pipeline of products under development, portfolio holdings are positioned for continuous growth. The fund will consider a call options strategy to seek additional returns even as it strives to offer a more appealing income profile than a broad healthcare index.
“The past two years have shown just how important it is to have innovative companies develop vaccines and push forward medical advancements. Between the pandemic and our aging population, the spotlight is on the industry to really grow and innovate,” Som Seif, Purpose Investments’ founder and CEO, said. “We launched this Fund to give Canadians an opportunity to get actively managed exposure to the healthcare companies that are changing the world with cutting-edge medical and technological advancements.”
Eden Rahim of Next Edge Capital Corp., one of the world's leading healthcare investment specialists, will actively manage the Fund, while Purpose will act as a sub-advisor to the Fund.
Rahim has an academic background in molecular genetics and extensive experience in managing life sciences and biotechnology portfolios. Based on his education and industry experience, his active management will place the Fund in a position to take advantage of growth opportunities in the biotech and healthcare industries.
“With this Fund, we will work to strategically identify key healthcare companies developing innovations that will profoundly improve people’s lives,” Rahim said. “Purpose Healthcare Innovation Yield ETF aims to provide investors with exposure to unique opportunities that may not be on their radar, so they can reap the full rewards of the high-growth areas in healthcare and science.”
“Eden is one of the leading global experts in healthcare investing, and someone who understands the math as well as the science backing the portfolio. We are excited to have such a seasoned portfolio manager help us maximize the growth opportunities in the space and provide investors with a strategy to generate attractive yield,” Seif said.
