TORONTO, July 19, 2013 /CNW/ - Purpose Investments Inc. announces that Limited Duration Investment Grade Preferred Securities Fund (the "Fund") (TSX: PFD.UN) will pay its first distribution in the amount of $0.171 per Class A unit and Class F unit on or before August 15, 2013 to holders of record at the close of business on July 31, 2013. This includes the regular monthly distribution of $0.125 for July 2013 in addition to a partial distribution of $0.046 for the period from the closing date of the Fund's initial public offering on June 20, 2013 to June 30, 2013. The Fund will also pay a distribution in the amount of $0.125 per Class A unit and Class F unit on or before September 13, 2013 to holders of record at the close of business on August 30, 2013.
The Fund offers a distribution reinvestment plan ("DRIP") which provides unitholders with the ability to automatically reinvest their distributions and realize the benefits of compound growth of their investment. Unitholders can enroll in the DRIP by contacting their investment advisor.
The Fund is managed by Purpose Investments Inc. and the portfolio is actively managed by Nuveen Asset Management, LLC.
SOURCE: Purpose Investments Inc.
For further information:
Vice President, Marketing
Purpose Investments Inc.
Tel: (416) 583-3853