Starting Dec. 3, the Purpose Tactical Investment Grade Bond Fund will be called the Purpose Global Bond Fund.
Also effective that day, the fund will be sub-advised by Neuberger Berman Investment Advisers LLC in place of Neuberger Berman Breton Hill ULC.
The fund’s investment strategy is “broadening and enhancing” beyond North American investment-grade bonds to include investments in global investment-grade fixed income securities, a release says.
As interest rates rise and investors look to manage credit risk, the fund will now “focus on maximizing the yield and managing the duration and credit risks by utilizing an active, fundamental approach to global fixed-income securities,” says Som Seif, president and CEO of Purpose Investments, in the release.