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Som Seif, former CEO of Claymore Investments Inc., which is now part of BlackRock Inc.
Som Seif, former CEO of Claymore Investments Inc., which is now part of BlackRock Inc.
(Jalani Morgan/)

Som Seif pins hopes on low-fee investments

Som Seif, founder of Claymore Investments Inc., is taking aim at the high-cost, opaque world of retail investing with the upcoming launch of five new funds available in exchange traded fund and mutual fund classes.

Toronto-based Purpose Investments, Mr. Seif’s new company, will roll out a suite of ETFs and mutual funds on Sept. 3 that will be available for purchase through a discount brokerage or adviser. The funds will have fees no higher than 80 basis points for the most complex investments and will be managed by hedge fund company Breton Hill Capital Ltd., Purpose’s part owner.