PURPOSE INVESTMENTS INC. ANNOUNCES CLOSING OF TRANSACTION WITH LOGiQ ASSET MANAGEMENT INC.

Purpose Investments Inc. (“Purpose”) today announced the closing of its previously announced transaction to have its wholly owned affiliate Redwood Asset Management Inc. (“Redwood”) acquire substantially all of the retail asset management agreements owned by LOGiQ Asset Management Inc. (“LOGiQ”) and its affiliates.

“We are excited to acquire these high-quality, well-managed investment funds from LOGiQ,” said Purpose President and Chief Executive Officer, Som Seif. “Expanding and complementing our active-management business continues to be an important part of our growth strategy at Purpose. This transaction allows us to further expand our investment offerings and provide Canadians with an even broader selection of portfolio solutions.”

“As one of Canada’s leading independent investment management firms, we look forward to growing these funds and continuing to deliver outstanding performance for our clients,” continued Mr. Seif. “Over the next several months, we will work hard to better align the products, through strategy enhancements and lower overall fees, with Purpose’s overall goals to provide accessible, intelligent solutions that help Canadians drive better portfolio outcomes.”

As a result of the transaction, the name of the each of the funds noted in the table below changed effective December 15, 2017, and certain other changes (described below) have been made or will be made following the closing of the transaction as outlined in the table below:

 

Old Name New Name Changes
LOGiQ Global Balanced Income Class Redwood Global Balanced Income Fund Change of manager and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Balanced Monthly Income Class Redwood Balanced Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Global Opportunities Class Redwood Global Opportunities Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ MLP and Infrastructure Income Class Redwood MLP & Infrastructure Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Money Market Class Redwood Money Market Fund Change of manager and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Resource Growth and Income Class Redwood Resource Growth & Income Fund Change of manager and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Special Opportunities Class Redwood Special Opportunities Fund Change of manager and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Tactical Bond Class Redwood Tactical Credit Fund Change of manager and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Tactical Equity Class Redwood Tactical Equity Fund Change of manager and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Growth Fund Redwood Growth Fund Change of manager and portfolio manager to Redwood effective on closing

Change of trustee effective following closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Tactical Bond Fund Redwood Tactical Bond Fund Change of manager and portfolio manager to Redwood effective on closing

Change of trustee effective following closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Global Resource Fund Redwood Global Resource Fund Change of manager, trustee and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ High Income Fund Redwood High Income Fund Change of manager, trustee and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Strategic Yield Fund Redwood Strategic Yield Fund Change of manager, trustee and portfolio manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

LOGiQ Total Return Fund Redwood Total Return Fund Change of manager and trustee to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

Australian Banc Income Fund To be renamed Redwood Global Financials Fund effective on or about February 28, 2018 (originally to have been effective December 15, 2017) Change of manager to Redwood effective on closing

Change investment objectives to global financials portfolio effective on or about February 28, 2018 (originally to have been effective December 15, 2017)

Change of investment restrictions effective on or about February 28, 2018 (originally to have been effective December 15, 2017)

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the Class A units of the Fund) and open-end fund (in respect of the Class F units of the Fund) effective following closing

Canadian 50 Advantaged Preferred Share Fund N/A Change of manager to Redwood effective on closing

Merger into Redwood Canadian Preferred Share Fund effective on or about December 22, 2017 (originally to have been effective December 15, 2017)

Global Capital Securities Trust Redwood Global Financials Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the Class A units of the Fund) and open-end fund (in respect of the Class F units of the Fund) effective following closing

LOGiQ Advantage Oil & Gas Income Fund Redwood Energy Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the units of  the Fund) and open-end fund effective following closing

LOGiQ Advantage VIP Income Fund Redwood Advantage Monthly Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the units of  the Fund) and open-end fund effective following closing

LOGiQ AVIP Trust   Redwood AVIP Trust Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

LOGiQ O&G Trust   Redwood O&G Trust Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

LOGiQ VIP Income Fund Redwood Monthly Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the units of  the Fund) and open-end fund effective following closing

Low Volatility Canadian Equities Income Fund Redwood Low Volatility High Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the units of  the Fund) and open-end fund effective following closing

Macquarie Global Infrastructure Income Fund Redwood Global Infrastructure Income Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the units of  the Fund) and open-end fund effective following closing

Voya Floating Rate Senior Loan Fund Redwood Floating Rate Income Fund Change of manager to Redwood effective on closing

Expand investment objectives to add other corporate fixed income securities in addition to senior loans effective on closing

Change of investment restrictions effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the Class A and Class U units of the Fund) and open-end fund effective following closing

Voya Diversified Floating Rate Senior Loan Fund Redwood Floating Rate Bond Fund Change of manager to Redwood effective on closing

Expand investment objectives to add other corporate fixed income securities in addition to senior loans effective on closing

Change of auditor to Ernst & Young LLP effective following closing

Change of trustee to Redwood effective following closing

Conversion to an ETF (in respect of the Class A and Class U units of the Fund) and open-end fund effective following closing

LOGiQ Credit Opportunities Fund Redwood Credit Opportunities Fund Change of manager and trustee to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

Authorizing conversion to a public mutual fund subject to the requirements of National Instrument 81-102 – Investment Funds (“NI 81-102”) following closing

LOGIQ Select Equity Fund Redwood Select Equity Fund Change of manager to Redwood effective on closing

Change of auditor to Ernst & Young LLP following closing

Change of trustee to Redwood effective following closing

Authorizing conversion to a public mutual fund subject to the requirements of NI 81-102 following closing

 

 

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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