Purpose Expands Structured Equity Strategy With New ETF Series

Purpose Investments has launched PSY, an ETF series of its Purpose Structured Equity Yield Fund, offering investors a combination of income generation and contingent downside protection in a single vehicle. Listed on the TSX, the actively managed fund provides exposure to a diversified portfolio of North American and global securities and targets an initial annual distribution of approximately 6.4%. Purpose says the strategy, first introduced in Canada in 2019, has grown to more than CAD2.1 billion in assets. The ETF structure aims to make the strategy more accessible while maintaining its focus on monthly income, protection against moderate market declines, and tax-efficient distributions through a corporate class structure.