Purpose Investments offering U.S. dividend fund

Purpose Investments has launched a U.S. dividend fund.

The initial public offering of the currency hedged ETF units and non-currency hedged ETF units has closed, and the units started trading on the TSX today, under the ticker symbols PUD (currency hedged) and PUD.B (non-currency hedged).

“This fund is composed entirely of dividend-paying U.S. equities,” says Som Seif, president and CEO of Purpose Investments. “The fund will…select companies that have a consistent history of providing income to shareholders, [as well as] the fundamentals to continue to grow their businesses and dividends.”

It will provide monthly distributions, along with the potential for long-term growth.

Also read:

Fidelity launches 2 funds

Why dividends offer downside protection

Investment predictions by TIGER 21 plan members, for more on why investors choose dividends

Dividend yields trending upward