Purpose Investments launches high-interest ETF

Purpose Investments has introduced a high-interest savings ETF, which began trading today on the TSX.

The fund invests the majority of its assets in high interest rate deposit accounts with one or more chartered banks and Canadian credit unions. It provides investors with greater yield than traditional money market funds.

The ETF will trade on a T+1 (trade date plus one business day) settlement basis.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.