/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Jan. 19, 2016 /CNW/ - Purpose Investments Inc. ("Purpose"), on behalf of the Investment Grade Managed Duration Income Fund (the "Fund"), announces the filing by the Fund of a preliminary short form prospectus with securities regulators in all of the provinces and territories of Canada relating to a public offering of Class A2 Units and Class T Units (together, the "Units"). The terms of the offering, including the maximum amount to be raised and the offering price of the Class T Units will be set forth in a final short form prospectus.
The offering is being made on a best efforts agency basis in each of the provinces and territories of Canada through a syndicate of agents led by National Bank Financial Inc. and which includes BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd., Desjardins Securities Inc., Manulife Securities Incorporated, Industrial Alliance Securities Inc. and Mackie Research Capital Corporation.
A preliminary short form prospectus containing important information relating to the offered Units has been filed with securities regulatory authorities in all provinces and territories of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor. There will not be any sale or any acceptance of an offer to buy the offered Units until a receipt for the final prospectus has been issued.
A copy of the prospectus has been filed on SEDAR at www.sedar.com under the Fund's profile.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Fund
The Fund uses the Unit Traded Fund (UTF) structure which has been developed to accomplish two goals, namely (a) to enable the Fund to invest virtually all of the gross proceeds from the offering in its investment portfolio, and (b) to encourage the Fund's Class T Units to trade in the market at a price not less than 98.50% of their net asset value throughout the life of the Fund.
The Fund's investment objectives are to provide holders of units with a stable stream of monthly distributions, preserve the net asset value per unit, and reduce the risk of rising interest rates by managing portfolio duration, by investing primarily in U.S. and Canadian dollar denominated investment grade preferred securities.
SOURCE Investment Grade Managed Duration Income Fund
For further information: For further information, please visit our website at www.purposeinvest.com or contact Dan Rubin, Vice President, Marketing, at 416-583-3853.