Business News • MarketWire • Purpose Investments Inc. Confirms Transaction and Merger Date for Legg Mason BW Investment Grade Focus Fund and Limited Duration Investment Grade Preferred Securities Fund

Purpose Investments Inc. Confirms Transaction and Merger Date for Legg Mason BW Investment Grade Focus Fund and Limited Duration Investment Grade Preferred Securities Fund

Purpose Investments Inc. Confirms Transaction and Merger Date for Legg Mason BW Investment Grade Focus Fund and Limited Duration Investment Grade Preferred Securities Fund

TORONTO, ONTARIO--(Marketwired - March 11, 2014) - Purpose Investments Inc. ("Purpose") and Meadowbank Capital Inc. ("Meadowbank"), as the manager of the Legg Mason BW Investment Grade Focus Fund (TSX:BWI.UN) (the "BWI Fund"), are pleased to announce that closing of the following transactions are anticipated to occur on or about March 14, 2014 (the "Effective Date"): (1) the change in the manager and the investment manager of the BWI Fund from Meadowbank and Meadowbank Asset Management Inc. to Purpose; (2) a change of the auditors of the BWI Fund to Ernst & Young LLP; and (3) the merger ("Merger") of the BWI Fund with the Limited Duration Investment Grade Preferred Securities Fund (TSX:PFD.UN), a fund managed by Purpose, (the "Purpose Fund").

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