Purpose Investments Inc. an asset management company with more than $9 billion under management, has announced several changes to its Purpose Duration Hedged Real Estate Fund to more accurately reflect the fund’s new investment strategy.
Purpose Investments has renamed the fund to Purpose Real Estate Income Fund and appointed managers Barry Morrison and Michael McNabb of Purpose to manage the investment vehicle. The changes will go into effect on Aug. 4.
The managers will use an active, fundamental approach to investing in real estate equities, taking advantage of their experience with managing REITs. Purpose Investments said the change in manager is being undertaken to enhance the value to unitholders.
McNabb has worked in the finance industry since 2003 and has worked closely with Morrison since 2008, focusing on dividend-income securities, particularly REITs.
“Given what has happened so far in 2020, there is a significant opportunity for attractive
