Press Releases

First Asset Announces Estimated 2013 Annual Capital Gains Distributions For Certain First Asset ETFs

TORONTO, November 27, 2013 – First Asset Investment Management Inc., today announced the estimated annual capital gains distributions for the First Asset ETFs listed below for the 2013 tax year. These estimates are for the year-end capital gains distributions only, which are typically reinvested rather than paid in cash, and do not include estimates of ongoing monthly or quarterly cash distribution amounts. Please note that these are estimated amounts only as of November 25, 2013, and include forward-looking information which may cause the estimates to change before the First Asset ETFs’ December 15, 2013 tax year-end.

We expect to announce the final annual capital gains distribution amounts, as well as the regular monthly and quarterly cash distribution amounts for December, as applicable, for all First Asset ETFs, on or about December 17, 2013. The estimated payment date for the 2013 annual capital gains distributions will be on or about January 6, 2014.

The actual taxable amounts of all distributions (cash and reinvested) for 2013, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or “CDS”) in early 2014.


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                                          TSX  Estimated Annual Capital Gain
                                      Trading  Distribution per Fund Unit as
Fund Name                              Symbol           at November 25, 2013
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First Asset Can-60 Covered Call ETF       LXF                          $0.00
                                   -----------------------------------------
                                        LXF.A                          $0.00
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First Asset Can-Energy Covered Call       OXF                          $0.00
 ETF                                                                        
                                   -----------------------------------------
                                        OXF.A                          $0.00
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First Asset Can-Financials Covered        FXF                          $0.00
 Call ETF                                                                   
                                   -----------------------------------------
                                        FXF.A                          $0.00
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First Asset Can-Materials Covered         MXF                          $0.00
 Call ETF                                                                   
                                   -----------------------------------------
                                        MXF.A                          $0.00
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First Asset Canadian Convertible          CXF                          $0.00
 Bond ETF                                                                   
                                   -----------------------------------------
                                        CXF.A                          $0.00
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First Asset Tech Giants Covered           TXF                          $0.00
 Call ETF                                                                   
                                   -----------------------------------------
                                        TXF.A                          $0.00
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First Asset Morningstar Canada            DXM                          $0.00
 Dividend Target 30 Index ETF                                               
                                   -----------------------------------------
                                        DXM.A                          $0.00
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First Asset Morningstar US Dividend       UXM                          $0.00
 Target 50 Index ETF                                                        
                                   -----------------------------------------
                                        UXM.A                          $0.00
                                   -----------------------------------------
                                        UXM.B                          $0.00
                                   -----------------------------------------
                                        UXM.D                          $0.00
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First Asset Morningstar National          QXM                          $0.23
 Bank Quebec Index ETF                                                      
                                   -----------------------------------------
                                        QXM.A                          $0.11
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First Asset Morningstar Canada            FXM                          $0.10
 Value Index ETF                                                            
                                   -----------------------------------------
                                        FXM.A                          $0.41
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First Asset Morningstar Canada            WXM                          $0.00
 Momentum Index ETF                                                         
                                   -----------------------------------------
                                        WXM.A                          $0.00
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First Asset Morningstar US Value          XXM                          $0.03
 Index ETF                                                                  
                                   -----------------------------------------
                                        XXM.A                          $0.06
                                   -----------------------------------------
                                        XXM.B                          $0.10
                                   -----------------------------------------
                                        XXM.D                          $0.10
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First Asset Morningstar US Momentum       YXM                          $0.01
 Index ETF                                                                  
                                   -----------------------------------------
                                        YXM.A                          $0.00
                                   -----------------------------------------
                                        YXM.B                          $0.09
                                   -----------------------------------------
                                        YXM.D                          $0.09
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First Asset Morningstar Emerging          EXM                          $0.00
 Markets Composite Bond Index ETF                                           
                                   -----------------------------------------
                                        EXM.A                          $0.00
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First Asset DEX Government Bond           GXF                          $0.00
 Barbell Index ETF                                                          
                                   -----------------------------------------
                                        GXF.A                          $0.00
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First Asset DEX Corporate Bond            KXF                          $0.00
 Barbell Index ETF                                                          
                                   -----------------------------------------
                                        KXF.A                          $0.00
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First Asset DEX All Canada Bond           AXF                          $0.00
 Barbell Index ETF                                                          
                                   -----------------------------------------
                                        AXF.A                          $0.00
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First Asset DEX Provincial Bond           PXF                          $0.00
 Index ETF                                                                  
                                   -----------------------------------------
                                        PXF.A                          $0.00
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First Asset DEX 1-5 Year Laddered         BXF                          $0.00
 Government Strip Bond Index ETF                                            
                                   -----------------------------------------
                                        BXF.A                          $0.00
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Forward-looking information

This press release contains forward-looking statements with respect to the estimated annual capital gains distributions for the First Asset ETFs. By their nature, these forward-looking statements involve certain risks and uncertainties that could cause the actual distributions to differ materially from those contemplated in this press release. Material factors that could cause the actual distributions to differ from the estimated distributions between now and December 15, 2013 (the First Asset ETFs’ tax year ends) include, but are not limited to: subscription and redemption activity with respect to the First Asset ETFs; the actual amounts of distributions received by the First Asset ETFs; the actual amounts of capital gains generated from sales of securities by the First Asset ETFs; and trading activity within the First Asset ETFs, including as a result of applicable index changes which cause rebalancing within the First Asset ETFs.

ABOUT FIRST ASSET:

First Asset is an independent Canadian investment management company focused on delivering superior risk-adjusted investment returns to Canadian investors and their investment advisors. First Asset Exchange Traded Funds offer unique investment solutions on a low cost, transparent basis. Founded in1996, First Asset is a leading manager of ETFs, mutual funds, and closed end funds in Canada.

For further information, please contact Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.

This communication is intended for informational purposes only. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.

Not for dissemination to U.S. newswire services or for dissemination to the United States of America.