Purpose Canadian Financial Income Fund

The fund seeks to provide long-term capital appreciation and monthly distributions by investing in a portfolio of Canadian banks (up to 70% on an equal-weighted basis) and insurance companies (up to 30% on an equal-weighted basis). The fund will write covered call options from time to time in order to: (i) enhance the fund’s total returns, (ii) enhance the dividend yield of the portfolio securities and (iii) lower the overall volatility of the fund’s portfolio. The fund may use derivatives in order to further meet its investment objectives, and may also engage in short selling or other securities lending transactions to generate additional income.