| Webpage | Update | Nature and Implication of Errors |
| Purpose added a disclaimer specifically stating that this was a point-in-time publication and that updated information can be found on each fund’s respective webpage; and provided a link to Purpose’s updated ESG Policy. Appropriate disclaimers were aligned across the listed ESG-related articles. |
Purpose believes that the publication of a date alongside this blog post made it sufficiently clear to readers that this publication was always meant to be a point-in-time post. However, some readers may not have made this inference, which may have led them to believe that Purpose’s point-in-time views regarding ESG would apply indefinitely. The corrections make it explicit that this is a point-in-time publication. |
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| Purpose added a disclaimer specifically stating that this was a point-in-time publication and that updated information can be found on each fund’s respective webpage; and provided a link to Purpose’s updated ESG Policy. Appropriate disclaimers were aligned across the listed ESG-related articles. |
Purpose believes that the publication of a date alongside this blog post made it sufficiently clear to readers that this publication was always meant to be a point-in-time post. However, some readers may not have made this inference, which may have led them to believe that Purpose’s point-in-time views regarding ESG would apply indefinitely. The corrections make it explicit that this is a point-in-time publication. |
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| Purpose replaced the phrase“ESG Always” from the“Principles of Purpose” section. The section is now headed“ESG Conscious,” and the text under that heading reads as: “We do not believe investors should have to sacrifice returns for sustainability. This is why we integrate environmental, social, and governance factors into a specific subset of our fund lineup where we believe it fits well with the investment strategy. In these cases, when we allocate capital for investors, we seek to generate returns based on performance while also considering the risks and opportunities arising from ESG factors.” |
Purpose believes that, read together, its disclosure regarding ESG made sufficiently clear that ESG integration is applied wherever possible, subject to the qualifications listed in those publications. However, a reader who read this page in isolation might have understood the phrase“ESG Always” to mean that Purpose“always” integrates ESG in a literal way. The corrections make it clear that Purpose is ESG Conscious. |
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| Purpose updated existing ESG Policy page to more closely align with fund prospectus disclosure and incorporate guidance from the CSA Staff Notice 81-334 ESG-Related Investment Fund Disclosure. The ESG Policy sets out how ESG strategies are applied, evaluated, and monitored for the Purpose ESG-Related Funds. | Purpose updated its existing ESG Vision to the ESG Policy. Readers may have previously been confused as to how Purpose incorporates guidance from the CSA regarding ESG, which is now reflected in the updated Policy. |
The updates outlined above were requested by the Staff of the Ontario Securities Commission in connection with the Staff’s issue-oriented review of ESG-Related Funds. The following list includes all Purpose Investments Funds that do not fall under the ESG classification.
| Fund Name |
| Black Diamond Distressed Opportunities Fund |
| Black Diamond Global Enhanced Income Fund |
| Black Diamond Global Equity Fund |
| Sabius Private Institutional Mandate |
| Canadian Investment Grade Preferred Share Fund |
| Purpose Credit Opportunities Fund |
| Purpose Global Flexible Credit Fund |
| Purpose Total Return Bond Fund |
| Purpose Gold Bullion Fund |
| Purpose Silver Bullion Fund |
| Purpose Specialty Lending Trust |
| Purpose Cash Management Fund |
| Purpose High Interest Savings Fund |
| Purpose Premium Money Market Fund |
| Purpose US Cash Fund |
| Purpose Bitcoin ETF |
| Purpose Bitcoin Yield ETF |
| Purpose Crypto Opportunities ETF |
| Purpose Ether ETF |
| Purpose Ether Yield ETF |
| Big Banc Split Corp. |
| Purpose Behavioural Opportunities Fund |
| Purpose Best Ideas Fund |
| Purpose Canadian Equity Growth Fund |
| Purpose Global Innovators Fund |
| Purpose Canadian Financial Income Fund |
| Purpose Canadian Income Growth Fund |
| Purpose Emerging Markets Dividend Fund |
| Purpose Healthcare Innovation Yield Fund |
| The Medical Cannabis and Wellness UCITS ETF |
| Purpose Monthly Income Fund |
| Purpose Tactical Asset Allocation Fund |
| Longevity Pension Fund |
| Purpose Structured Equity Growth Fund |
| Purpose Structured Equity Yield Plus Fund |
| Purpose Structured Equity Yield Portfolio |
| Alphabet (GOOGL) Yield Shares Purpose ETF |
| Amazon (AMZN) Yield Shares Purpose ETF |
| Apple (AAPL) Yield Shares Purpose ETF |
| Berkshire Hathaway (BRK) Yield Shares Purpose ETF |
| Tesla (TSLA) Yield Shares Purpose ETF |
About Purpose Investments
Purpose Investments is an asset management company with over $15 billion in assets 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.
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