Key stats
About PURPOSE US PREFERRED SHARE FUND
Expense ratio
0.91%
Home page
Inception date
Mar 15, 2017
The fund seeks to provide a stream of monthly income and capital appreciation by investing in US preferred securities. These securities are issued primarily by financial firms, and to a lesser degree, by firms in other sectors, like industrials and utilities. Investment grade securities predominantly made up at least 75% of the portfolio, while the rest may go to high-yield ones. The fund is actively managed as markets change and different opportunities arise to capitalize on the relative value opportunities of different instruments, capital structure positions, and securities with different coupon structures. Through this active management, the sub-advisor selects securities that it believed have strong fundamentals and are priced at desirable relative valuations. The fund may also use derivatives for hedging and non-hedging purposes.