Purpose Investments Launches Momentum-Based ETF on Cboe Canada
New fund aims to capture growth trends within the Innovation Economy using a momentum-based strategy
Toronto | October 19, 2023 – Cboe Canada, the new business name of the NEO Exchange, is proud to welcome back return-issuer Purpose Investments Inc. for the launch of the Purpose Tactical Thematic Fund. The innovative equity fund uses a momentum rules-based strategy to buy and sell diversified investments and is now trading on Cboe Canada under the symbol RTT.
The fund aims to provide long-term appreciation by capitalizing on the growth trends of thematic investing while minimizing downside risk by limiting concentration in singular markets. RTT will invest primarily in thematic ETFs within North America, seeking to capitalize on market momentum by targeting thematic investments with exposure to dynamic and cutting-edge fields like renewable energy, AI, and biotechnology.
“Investing in thematic ETFs is exciting and can really provide a growth tilt for a portfolio,” says Craig Basinger, Chief Market Strategist at Purpose and the fund’s portfolio manager. “Unfortunately, many investor experiences with thematic ETFs have been poor, buying late and holding on too long. With our rules-based process, we believe we have created a safer way to gain exposure to this exciting part of the market.”
The Purpose Tactical Thematic Fund joins 11 Purpose funds already trading on Cboe Canada. Investors can trade units of RTT and other Purpose ETFs through their usual investment channels, including discount brokerage platforms and full-service dealers. Click here for a complete view of all Cboe-listed securities.
“More than ever before, we live in a world of unprecedented change in technology and market trends. The systematic and calculated strategy powering RTT allows investors to benefit from rising trends while providing a timely exit when momentum cools,” added Jos Schmitt, President and CEO of Cboe Canada. “We are honoured to serve as the exchange of choice for Purpose, a true partner in innovation, as they build out their product shelf and bring more choice to the Canadian ETF market.”
Cboe Canada is home to over 260 unique listings, including ETFs from Canada’s leading ETF issuers, Canadian Depositary ReceiptsTM (CDRs), and some of the most innovative Canadian and international growth companies. In Canada, Cboe consistently facilitates more than 20% of all volume traded in Canadian ETFs and over 15% of all volume traded in Canadian-listed companies.
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About Cboe Canada
Cboe Canada, the new business name of the NEO Exchange, is Canada’s Tier 1 stock exchange for the purpose-driven Innovation Economy, providing a best-in-class listing experience for issuers that are shaping the economies of tomorrow. Fully operational since 2015, Cboe Canada lists investment products and companies seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness, including unfettered access to market data.
Cboe Canada is part of the Cboe Global Markets network, leveraging deep international expertise, industry-leading market intelligence and technology, and unparalleled service to deliver what stakeholders and the world need now and for the future. Cboe Canada is an affiliate of Cboe MATCHNow.
Cboe powers ETF Market Canada, a user-friendly platform providing investors and advisors with one-stop access to ETF research and analysis. Real-time, institutional-grade data allows users to compare, contrast, and explore the entire universe of 1,200+ Canadian ETFs free of charge.
About Purpose Investments
Purpose Investments is an asset management company with over $17 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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