TORONTO, July 25, 2025 (GLOBE NEWSWIRE) Purpose Investments Inc. (Purpose Investments) announced today its decision to terminate StoneCastle Equity Growth Fund and StoneCastle Income Growth Fund (each, a StoneCastle
Fund and together, the StoneCastle Funds) at the close of business on or about September 29, 2025 (the StoneCastle Funds
Termination Date). Effective immediately, each StoneCastle Fund is closed to new purchases. Purpose Investments also announced its decision to terminate PK Core Fund effective as of the close of business today. PK Core Fund currently has no unitholders and is closed to new purchases.
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Purpose Investments regularly reviews its fund offerings to ensure each offering is appropriately scaled, cost-effective, and economically viable for investors, while continually enhancing our fund platform to better serve investors. As part of its latest review, a decision was made to terminate the StoneCastle Funds due to their relatively small size, which has made it challenging to manage the StoneCastle Funds efficiently in accordance with their stated investment objectives.
Holders of Series A and Series F shares of either StoneCastle Fund (collectively, the Shares) will have the option to redeem their Shares at net asset value on or prior to September 24, 2025, at 4:00 p.m. (EDT). No fees or redemption charges will apply. All Shares not redeemed prior to 4:00 p.m. (EDT) on the Termination Date will be automatically redeemed at net asset value, with the proceeds either deposited into the shareholders account or sent via cheque mailed directly to the shareholder, dealer, nominee, or intermediary, as applicable. If required, a final distribution for each StoneCastle Fund will occur on or about the StoneCastle Funds Termination Date.
Shareholders will be sent a written notice regarding the termination of the StoneCastle Funds.
There may be tax implications for shareholders with respect to any disposition of Shares. Shareholders are strongly encouraged to contact their financial advisor to discuss the financial and tax implications associated with a redemption of Shares and the termination of the StoneCastle Funds.
About Purpose Investments
Purpose Investments is an asset management company with more than $25 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
For further information, please contact [email protected].
Keera Hart [email protected]
905-580-1257