Purpose Investments Inc. (“Purpose”) today announced the final annual distributions of income and capital gains for its open-end exchange-traded funds structured as mutual fund trusts (the “Funds”) with a December 15, 2024 tax year-end. The distributions represent income earned and capital gains realized by the Funds during the year.
Details of the per-unit distribution amounts are as follows:
Final Annual Distributions of Income
| Fund Name | Ticker | Final Annual Income Distribution Per Unit | NAV per Unit (as of Dec 19, 2024) | Final Distribution (% of Dec 19, 2024 NAV) | Distribution Type |
|---|---|---|---|---|---|
| Purpose Global Flexible Credit Fund ETF Units | FLX | $ 0.1800 | $ 7.37 | 2.44% | Cash |
| Purpose Global Flexible Credit Fund ETF Non-Currency Hedged Units | FLX.B | $ 0.2250 | $ 9.19 | 2.45% | Cash |
| Purpose Global Flexible Credit Fund ETF Non-Currency Hedged USD Units | FLX.U | US $ 0.1500 | US $ 6.16 | 2.44% | Cash |
ETF Series unitholders of record at the close of business on December 31, 2024, will receive the 2024 annual income distributions on January 7, 2025. The ex-distribution date for the 2024 annual income distributions will be December 31, 2024. Purpose expects to announce the final year-end notional distribution of income for Purpose Specialty Lending Trust on or about January 24, 2025, if necessary.
Final Annual Capital Gains – Notional Distributions
| Fund Name | Ticker | Final Annual Capital Gain Distribution Per Unit | NAV per Unit (as of Dec 19, 2024) | Final Distribution (% of Dec 19, 2024 NAV) | Distribution Type |
|---|---|---|---|---|---|
| Berkshire Hathaway (BRK) Yield Shares Purpose ETF ETF Units | BRKY | $ 0.5200 | $ 26.44 | 1.97% | Notional |
| Alphabet (GOOGL) Yield Shares Purpose ETF ETF Units | YGOG | $ 0.3050 | $ 36.22 | 0.84% | Notional |
| Purpose Bitcoin Yield ETF ETF Units | BTCY | $ 0.7150 | $ 8.72 | 8.20% | Notional |
| Purpose Bitcoin Yield ETF ETF Non-Currency Hedged Units | BTCY.B | $ 0.8800 | $ 10.69 | 8.23% | Notional |
| Purpose Bitcoin Yield ETF ETF Non-Currency Hedged USD Units | BTCY.U | US $ 0.6950 | US $ 8.47 | 8.20% | Notional |
| Purpose Ether Yield ETF ETF Units | ETHY | $ 0.3730 | $ 3.92 | 9.51% | Notional |
| Purpose Ether Yield ETF ETF Non-Currency Hedged Units | ETHY.B | $ 0.4950 | $ 5.21 | 9.49% | Notional |
| Purpose Ether Yield ETF ETF Non-Currency Hedged USD Units | ETHY.U | US $ 0.3650 | US $ 3.84 | 9.50% | Notional |
The annual capital gains distributions for the funds listed in the table above will be paid as notional distributions. With a notional distribution, the units issued from the distribution are immediately consolidated with the units held prior to the distribution. The number of units held after the distribution is, therefore, identical to the number of units held before the distribution.
Purpose confirms that the notional capital gain distributions will be applied to ETF holders of record as at the close of business on December 23, 2024. The ex-distribution date for the notional capital gain distributions will be December 23, 2024.
Final Annual Capital Gains – Cash Distributions
| Fund Name | Ticker | Final Annual Capital Gain Distribution per Unit | NAV per Unit (as of Dec 19, 2024) | Final Distribution (% of Dec 19, 2024 NAV) | Distribution Type |
|---|---|---|---|---|---|
| Purpose Active Balanced Fund ETF Units | PABF | $ 0.5800 | $ 23.47 | 2.47% | Cash |
| Purpose Active Conservative Fund ETF Units | PACF | $ 0.2900 | $ 22.94 | 1.26% | Cash |
| Purpose Active Growth Fund ETF Units | PAGF | $ 0.3750 | $ 24.48 | 1.53% | Cash |
The respective unitholders of record on December 31, 2024, for the funds listed in the table above, will receive the 2024 annual cash distributions on January 7, 2025. The ex-dividend date for the 2024 annual distributions for these ETFs (Purpose Active Balanced Fund – ETF Units, Purpose Active Growth Fund – ETF Units, and Purpose Active Conservative Fund – ETF Units) will be December 31, 2024.
The actual breakdown of taxable amounts of reinvested and cash distributions for the 2024 tax year, including tax factor allocations, will be reported to the brokers through CDS Clearing and Depository Services Inc. in early 2025.
As an update to the press release issued on November 27, 2024, Purpose confirms that Apple (AAPL) Yield Shares Purpose ETF, Amazon (AMZN) Yield Shares Purpose ETF, NVIDIA (NVDA) Yield Shares Purpose ETF, and Microsoft (MSFT) Yield Shares Purpose ETF will not declare a special annual distribution in 2024.
Purpose expects to announce the final year-end distributions for Purpose High Interest Savings Fund – ETF Units, Purpose US Cash Fund – ETF Units, Purpose Cash Management Fund – ETF Units, and Purpose USD Cash Management Fund – ETF Units on or about December 31, 2024, if necessary.
Purpose expects to announce the final annual capital gain distributions for Purpose Fund Corp. and Big Banc Split Corp. on or about January 24, 2025, if necessary. Shareholders of record on January 30, 2025, will receive the annual capital gains distributions on February 5, 2025, and such capital gains will be applicable for the 2025 tax year. The final year-end capital gains distributions for these funds will be paid in cash. Purpose confirms that Purpose Mutual Funds Limited funds will not declare annual capital gain distributions for the 2024 tax year.
About Purpose Investments
Purpose Investments is an asset management company with more than $22 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
For further information, please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated.