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
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:
President & CEO
Purpose Investments Inc.
Vice President, Marketing
Purpose Investments Inc.