Seif's Purpose Launches Two New International Funds

Apr 23 2015 | 9:54am ET

Purpose Investments has launched two new liquid alternative exchange traded funds. 

The Toronto-based company has completed the public offerings of the Purpose International Dividend Fund (PID) and Purpose International Tactical Hedged Equity Fund (PHW). The two funds began trading on the Toronto Stock Exchange earlier this week.

The Purpose International Dividend Fund is a portfolio of international companies with above-average dividend yields as well as both the history and the ability to grow payouts going forward. Positions exclude U.S. and Canadian issuers and are chosen based on a fundamental, rules-based strategy intended to create value and reduce risk over the investment period.

The Purpose International Tactical Hedged Equity Fund targets global market returns with less market volatility. The fund also uses a fundamental, rules-based strategy to choose international long equity positions (excluding the U.S. and Canada) based on relative value and quality metrics, and then tactically hedges market risk exposure of the portfolio to each international market. 

"Our two new funds represent an expansion of our fund family outside of North America and into international equity markets for two popular and intelligent investment strategies already offered by Purpose," said Som Seif, President and Chief Executive Officer of Purpose, in a press release. "Purpose Core Dividend Fund and Purpose Tactical Hedged Equity Fund have both demonstrated strong and stable returns since their inception and we believe that applying the same innovative strategies used by these funds to a portfolio of international equity securities will provide investors with important geographic diversification and returns that are consistently better than those of a benchmark index."

As with Purpose’s other liquid alternative products, the investment sub-advisor for the two new funds is hedge fund manager Breton Hill Capital.

Seif founded purpose Investments in 2013. The firm has approximately $1 billion in assets across 13 ETF funds and two closed-end funds involved in both traditional and alternative investment strategies. 

Seif founded ETF provider Claymore Investments in 2005 and sold it to BlackRock in 2012. 

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