Industry veteran Som Seif launches Purpose Investments
TORONTO, Jan. 10, 2013 /CNW/ - Today marks the launch of Purpose Investments Inc. ("Purpose"), a new asset management firm dedicated to offering investors access to intelligent and innovative investment products with reasonable fees. Purpose is wholeheartedly committed to democratizing the investment industry, providing all Canadians access to a range of investment strategies that have traditionally been out of their reach.
The founder, president and CEO of Purpose is Som Seif, who was previously the president and CEO of Claymore Investments, one of Canada's fastest growing asset managers, organically growing assets under management to $7.8 billion when it was acquired in 2012. Building on his previous experience, Som has brought together an outstanding team to create an asset management firm that will offer innovative low-cost intelligent investment products to all investors. Purpose is an employee-owned firm, and will be offering a unique opportunity for investors to participate in equity ownership in the new company.
"I am so excited to announce the launch of Purpose Investments. We've created a new type of company that will offer a suite of intelligent, rules-based and disciplined investment strategies to Canadians at a reasonable cost," said Som Seif, President and CEO, Purpose Investments. "Purpose will develop investment products that go beyond simple indexing by blending together the best elements of both active and passive investing."
As part of the plan to launch Purpose, the company has filed a preliminary prospectus for an initial public offering of an investment fund, NexC Partners Corp. NexC's investment objectives are to provide shareholders with (i) long-term capital appreciation through investment in a high quality portfolio of North American dividend-paying equity securities and an investment of up to 30% in Purpose and (ii) quarterly cash distributions initially targeted to be 5% per annum.
About Purpose Investments
Purpose Investments Inc. is committed to enabling all investors to have access to great investment products at reasonable fees. Through innovative and thoughtful product design and development, our investment strategies will be managed with prudence, a long-term perspective, and with the goal of providing returns that are consistently better than those of a benchmark index. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. For more information please visit http://www.purposeinvest.com/.
SOURCE: Purpose Investments Inc.For further information:
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Purpose Investments Inc.
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Purpose Investments Inc.