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Purpose Investments Announces Launch of Purpose Healthcare Innovation Yield ETF, Canada’s First Fund to Focus on Innovation in Biotech and Healthcare

Purpose Investments | January 19, 2022

Purpose Investments Inc. (“Purpose Investments” or “Purpose”) is pleased to announce the launch of Purpose Healthcare Innovation Yield ETF (the “Fund”). The Fund has closed the offering of its initial units, and units of the Fund will begin trading today on the Toronto Stock Exchange under the ticker, HEAL.

The Fund is the first of its kind in Canada to provide actively managed exposure to innovation leaders in biotech and healthcare. The recent advances in healthcare are only the beginning of what Purpose believes to be a new multi-year cycle in biotech and healthcare breakthroughs that will provide investors with opportunity for attractive long-term returns. The Fund will invest in an all-cap portfolio in the high-growth areas of gene-editing, digital healthcare, medical testing, dental, health maintenance, hospitals, pharmacies, and animal health. The portfolio holdings are primed for long-term growth and armed with commercialization opportunities and a strong pipeline of products under development. The Fund will also employ a covered call options strategy to generate additional yield and will have a more attractive income profile than the broad healthcare index.

“The past two years have shown just how important it is to have innovative companies develop vaccines and push forward medical advancements. Between the pandemic and our aging population, the spotlight is on the industry to really grow and innovate. We launched this Fund to give Canadians an opportunity to get actively managed exposure to the healthcare companies that are changing the world with cutting-edge medical and technological advancements.”

Som Seif, founder and CEO of Purpose Investments

Purpose is the manager of the Fund and Next Edge Capital Corp. (“Next Edge Capital”) will act as the Fund’s sub-advisor. The Fund will be actively managed by Eden Rahim of Next Edge Capital, one of the world’s leading experts in healthcare investing. Mr. Rahim has an academic background in molecular genetics and extensive experience managing life-science and biotech portfolios. His active management, informed by his science background and industry experience, will position the Fund to capitalize on high-growth opportunities in the biotech and healthcare sectors.

“With this Fund, we will work to strategically identify key healthcare companies developing innovations that will profoundly improve people’s lives,” says Rahim. “Purpose Healthcare Innovation Yield ETF aims to provide investors with exposure to unique opportunities that may not be on their radar, so they can reap the full rewards of the high-growth areas in healthcare and science.”

“Eden is one of the leading global experts in healthcare investing, and someone who understands the math as well as the science backing the portfolio. We are excited to have such a seasoned portfolio manager help us maximize the growth opportunities in the space and provide investors with a strategy to generate attractive yield,” Seif concluded.

About Purpose Investments

Purpose Investments Inc. is an asset management company with approximately $14 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, and offers a range of outcome-focused products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

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