TORONTO, June 25, 2013 /CNW/ - Limited Duration Investment Grade Preferred Securities Fund (the "Fund") (TSX: PFD.UN) has received approval for a normal course issuer bid to purchase up to 333,983 Class A Units (the "Units") of the Fund, representing approximately 10% of the public float of 3,339,832 Units. The Fund may purchase up to 66,796 Units in any 30 day period which is 2% of the 3,339,832 issued and outstanding Units as at June 24, 2013.
The Units may be purchased for cancellation from June 27, 2013 to June 26, 2014 through the facilities of the Toronto Stock Exchange or other eligible alternative markets and may only be purchased at a price per Unit not exceeding the last published net asset value per Unit. Purpose Investments Inc., the Manager of the Fund, believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.
Purpose Investments Inc. is a Canadian asset management firm committed to enabling all investors to have access to great investment products at reasonable fees. The Class A Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol PFD.UN.
SOURCE: Purpose Investments Inc.
For further information:
Vice President, Marketing
Purpose Investments Inc.
Tel: (416) 583-3853
Email: [email protected]