Purpose Multi-Asset Income Fund
PRMAF
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- Purpose Multi-Asset Income Fund (PRMAF) is an open-end mutual fund managed by Purpose Investments Inc. that seeks to generate a high level of income and long-term capital growth through a diversified global portfolio of income-producing securities. The fund invests primarily in a mix of equity securities, including dividend-paying equities and preferred shares; fixed income securities, such as investment grade bonds, higher yielding lower quality bonds, floating rate debt instruments, asset-backed securities, and mortgage-backed securities; real estate investment trusts (REITs); convertible securities; and common and preferred units, with allocations varying dynamically between asset classes based on market conditions and actively managed across equity, fixed income, and cash components. It provides broad exposure to income streams across multiple asset classes worldwide, targeting retail and institutional investors seeking monthly income and pension-like returns, and is available in multiple series including Class A, F, I, P, and X units. Launched on August 28, 2015 and domiciled in Canada, the fund is headquartered at 130 Adelaide Street West, Suite 3100, Toronto, Ontario, under the management of Purpose Investments Inc., with Purpose Investment Partners Inc. serving as the investment sub-advisor and portfolio managers including Michael McNabb and Barry Morrison. Geographically, the fund operates with a global focus, holding diversified positions in Canadian, U.S., and international securities across sectors like real estate, financials, and equities, while avoiding investments in controversial sectors such as tobacco, fossil fuels, private prisons, civilian firearms, and certain weapons manufacturers. In recent developments, the fund maintained stable management and investment strategy through 2024, posting strong performance driven by equities, real estate, and financials amid resilient market conditions, with no material changes to its philosophy or process. Purpose Investments, the manager, announced risk rating adjustments for several funds effective October 31, 2025, though specifics for this fund were not detailed, and continued monthly distributions with estimated 2025 income and capital gains outlined in December 2025 disclosures. Additionally, board changes occurred effective January 1, 2025, with Randall C. Barnes departing as a director and Independent Review Committee member, replaced by Karen A. McRae.