Seif launches Purpose Investments

Former president and CEO of Claymore Investments Som Seif today launched a new asset management firm, Purpose Investments Inc.

The firm is employee-owned, and will be offering an opportunity for investors to participate in equity ownership.

The company has filed a preliminary prospectus for an initial public offering of an investment fund, NexC Partners Corp. NexC’s investment objectives are to provide shareholders with (i) long-term capital appreciation through investment in a high quality portfolio of North American dividend-paying equity securities and an investment of up to 30% in Purpose and (ii) quarterly cash distributions initially targeted to be 5% per annum.

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