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Purpose Investments Inc. Announces Payouts Relating to the Termination of Black Diamond Global Equity Fund, Black Diamond Impact Core Equity Fund, and Black Diamond Global Enhanced Income Fund

February 21, 2024 7:00 PM EST

TORONTO, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) announced today additional information regarding the termination of Black Diamond Global Equity Fund (TSX: BDEQ), Black Diamond Impact Core Equity Fund (TSX: BDIC) and Black Diamond Global Enhanced Income Fund (collectively, the “Funds” and each, a “Fund”), that was announced on December 19, 2023.

On February 20, 2024, Purpose redeemed all of the issued and outstanding Class A units, Class F units and Class I units of each Fund, the ETF units of Black Diamond Global Equity Fund and Black Diamond Impact Core Equity Fund and the Class TA3 units and Class TF3 units of Black Diamond Global Equity Fund (collectively, the “Units”), all in accordance with applicable securities law and the terms of the Funds’ amended and restated declaration of trust. 

The ETF Units were delisted from the Toronto Stock Exchange on February 14, 2024. The proceeds from the liquidation of the assets, less all liabilities and expenses incurred in connection with this termination of the Funds (the “Termination Proceeds”), were determined on February 20, 2024.

Fund securityholders will receive the following amounts on or about February 23, 2024, in connection with the termination of the Funds, and no action is required to be taken by securityholders to receive such amounts. The breakdown of taxable amounts of cash distributions pertaining to the ETF Units of each Fund detailed in the table below, including tax factor allocations, will be reported to the brokers through CDS Clearing and Depository Services Inc. in early 2025, and the Final Distribution will be applicable for the 2024 tax year.

Terminating FundClass of UnitsTicker / FundSERVFinal DistributionPost-Distribution Net Asset Value per UnitTermination Proceeds per Unit
Capital Gain per UnitIncome Per Unit
Black Diamond Global Equity FundETFUnitsBDEQ--$6.6072$6.6072
Class A UnitsPFC6400--$7.2099$7.2099
Class F UnitsPFC6401--$7.3238$7.3238
Class IUnitsPFC6402----
Class A Units USDPFC6410----
Class F Units USDPFC6411----
Class TA3 UnitsPFC6403----
Class TF3 UnitsPFC6405----
Black Diamond Impact Core Equity FundETFUnitsBDIC$2.2126-$19.7747$21.9873
Class A UnitsPFC7400$2.1716-$19.4072$21.5788
Class F UnitsPFC7401$2.2124-$19.7732$21.9856
Black Diamond Global Enhanced Income FundClass A Units / Class A USD UnitsPFC6600 / PFC6610--$16.7478$12.3851 USD$16.7478$12.3851 USD
Class F Units / Class F USD UnitsPFC6601/ PFC6611--$17.2107$12.7275 USD$17.2107$12.7275 USD
Class IUnitsPFC6602----

In Canadian Dollars (CAD) unless stated otherwise.

About Purpose Investments

Purpose Investments is an asset management company with more than $19 billion 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.

For further information, please contact: Keera Hart [email protected] 905-580-1257

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Source: Purpose Investments Inc.


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