Som Seif is back on the scene after the sale of Claymore to Blackrock last year, launching a new Asset Management company Purpose Investments focusing on building innovative low cost ETF solutions based on merging the best from both the passive indexing and actively management world.
The company now launch the first batch of product below Bond fund being the first initiative in the Fixed Income segment.
The Purpose Total return bond Fund targets positive total returns in diverse market environments over time by tactically allocating its assets. The Fund is a diversified fixed income portfolio comprising of fixed income securities across the credit spectrum including investment grade corporate debt and high yield bonds using a rules-based selection strategy with overlay of portfolio duration management.
The Purpose Total Return Bond Fund obtains exposure primarily to a portfolio of fixed income securities including government debt, investment grade corporate debt and high yield debt instruments. Initially, the fund primarily invest in a portfolio of North American fixed income securities but may also invest globally.
The strategy starts with a universe of Government, Investment Grade, High Yield and Cash.
Based on 10 different moving average trend signals, ranging from 2 weeks to a year the portfolio is shifted among above segments.
When appropriate, the portfolio may also use derivatives, such as