Q: I recently purchased the PIN Purpose Monthly Income Fund. The Purpose website shows it currently has a large weighting in high-yield corporate bonds, a fair chunk in real assets along with dividend paying equities. How would you compare this to ZMI as a small weighting for med risk retirees seeking income and inflation protection?
Portfolio Analytics is counting it as 100% equity. I also see a discrepancy for the AUM of the fund (8mm vs 40mm) on the 5i profile page. Can this be corrected?
Portfolio Analytics is counting it as 100% equity. I also see a discrepancy for the AUM of the fund (8mm vs 40mm) on the 5i profile page. Can this be corrected?
5i Research Answer:
We will get ZMI allocations updated, thanks.
Both PIN and ZMI are fund of funds that focus on income and dividend products and own other funds offered by the respective providers. Yield for ZMI is 4.1% and yield for PIN is 4.8%. The MER for PIN is 0.55% vs 0.18% for ZMI. Our sources show AUM/Market cap of $8 mln for PIN vs $229 mln for ZMI. The underlying allocations are somewhat similar between the two but the actual underlying holdings to get there are a bit different and ZMI's approach looks to offer a bit more stability in the income stream compared to PIN. We would lean toward ZMI here.