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  5. PSA: Hi, how can Purpose can fund a 0. [Purpose High Interest Savings ETF]
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Investment Q&A

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Q: Hi, how can Purpose can fund a 0.6% distribution with a 0.15% management fee given how low bank deposit rates are? Thanks.

The fund documentation states ‘Deposits securely invested in cash accounts with Schedule 1 Canadian banks’.

Asked by Gary on October 15, 2021
5i Research Answer:

PSA, with $1.8B in assets, would get significantly higher rates than retail deposit rates. In addition, part of the income has been return of capital as per this breakdown.