Objective investment sells all holdings of Russian companies, Canadian Business Journal

Toronto, March 3, 2022 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) announced today that it has sold all its direct holdings of Russian companies and has promised to stop new investment as long as Russia’s invasion of Ukraine continues. To confront this meaningless war and show support for the Ukrainian people, the purpose last week began to sell funds from Russian companies and companies doing meaningful business in Russia.

“Like many Canadians, we have an undeniable urge to do everything we can to help those in distress,” said Som Seif, CEO and founder of Purpose Investments. increase. “We took the stance of incorporating ESG factors into our entire investment portfolio many years ago. I don’t think there is a better way to test a company’s ESG principles. We simply feel that it is not appropriate for our client’s capital to support Russian companies or companies that are directly engaged in business in Russia. “

The aim has been to lead the industry’s call for action alongside other asset managers to support the sale of Russian assets in our portfolio. Personally, each of us may be small, but collectively our industry is the power to make a difference. Today, asset managers and pension funds representing over $ 200 billion in assets have been strengthened and made this pledge. We expect more people to discuss and discuss with their capital. We encourage capital market peers to act as responsible leaders and sign a pledge of sale from Russia.

Through this shared pledge, leaders across Canada have already agreed to identify exposures to Russian companies, stop new investments in the region and sell their holdings of related entities as soon as possible. .. Signers are also encouraged to publicly report on their exposures, divestments, and future investment plans to build awareness and transparency in this effort.

“This decision goes far beyond investment. It reflects our concerns and concerns about the situation in Ukraine, and our desire to help the brave Ukrainians as much as possible. “We do,” said Som Seif, CEO and founder of Ukraine. “By bringing together the asset management and pension industries, we can spread the message that tyranny and the suffering it causes cannot and will not be supported.”

For more information on the pledge, please visit: Vow to sell from Russia..

About Purpose Investment Co., Ltd.

Purpose Investments Inc. is an asset management company that manages approximately $ 14 billion in assets. The goal is a constant focus on client-centric innovation, offering a variety of outcome-focused products. Purpose Investments is a division of Purpose Financial, an independent technology-driven financial services company led by renowned entrepreneur Somsafe.

For more information, please contact:
Keira Heart

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The content of this document is for informational purposes only and is not provided in connection with the provision of securities described herein, nor is it a recommendation or solicitation to purchase, hold, or sell securities. This information is not investment advice and is not tailored to the needs or circumstances of the investor.

Forward-looking statements are not guaranteed

Certain statements on this site may be forward-looking. Forward-looking statements (“FLS”) are inherently predictive, depend on or refer to future events or circumstances, or “may”, “do”, or “should”. , “Done”, “Expect”, “Expect”, “Intention”, “Plan”, “Believe”, “Estimate” and so on. Statements that predict the future or contain more than past information are susceptible to risks and uncertainties, and actual results, actions, or events may differ significantly from those described in the FLS. There is sex. FLS does not guarantee future performance and, by its very nature, is based on many assumptions. The FLS contained in this document are based on the belief that Purpose is a reasonable assumption, but Purpose cannot guarantee that the actual results will match these FLS. Readers should carefully consider FLS and be careful not to be overly dependent on FLS. Except as required by applicable law, there is no guarantee or liability to update or revise the FLS as a result of new information, future events, etc., and is specifically exempt from liability.

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Objective investment sells all holdings of Russian companies, Canadian Business Journal

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