European Banks are well positioned to benefit from the broader economic recovery in Europe and this new ETF provides investors with a smart, low cost, actively managed vehicle to access this opportunity
TORONTO, July 29, 2014 – First Asset Investment Management Inc. (“First Asset”), is pleased to announce the launch of the First Asset Hamilton Capital European Bank ETF (TSX symbols – FHB and FHB.A) (the “ETF”). The ETF’s investment objective is to seek long-term total returns consisting of long-term capital appreciation and regular dividend income, from an actively managed portfolio comprised primarily of equity securities of European banks. The portfolio will be managed by Hamilton Capital Partners Inc. and First Asset will provide all administrative and management services required by the ETF.
Hamilton Capital is an alternative investment manager of professionals with over 40 years combined of financial services experience, specializing in equity investments in the financial services sector.
“As the economic backdrop in Europe is poised to improve over the next few years, there are many reasons to like the banking sector. Most importantly, European banks are in the early stages of a credit-driven recovery in profitability, which, combined with significant improvements in balance sheet strength of the sector, should support a multi-year recovery in share prices.” said Robert Wessel, Managing Partner of Hamilton Capital Partners Inc. "We're excited to partner with First Asset as they introduce their actively managed ETFs in the Canadian marketplace."
“European banks represent a compelling multi-year cyclical opportunity that is now in the stage of improving economic growth.” said Barry Gordon, First Asset President and CEO. “We’re pleased to be working with Hamilton Capital, as they bring a wealth of knowledge in the financial services sector and have the expertise to manage this unique opportunity.”
The ETF has closed the initial offering of its units and the units, available in Common and Advisor Class Units, will begin trading on the Toronto Stock Exchange (“TSX”) today. The ETF will be denominated in Canadian dollars (Hedged to CAD).
For more information or to arrange an interview please contact: Rohit Mehta, First Asset ETFs at 1-877-642-1289 or visit www.firstasset.com.
About First Asset
Founded in 1996, First Asset is a Canadian, independent investment management company that manages and administers in excess of $3.1 billion in assets. First Asset offers a diverse range of investment solutions including ETFs, mutual funds and other exchange listed investment funds, covering a variety of domestic and global mandates. www.firstasset.com
About Hamilton Capital Partners
Hamilton Capital is an alternative investment manager headquartered in Toronto. Specializing in equity investments in financial services companies, the team of professionals has over 40 years of experience combined in the financial services sector. Managing partner Robert Wessel has 19 years of experience in the financial services sector and is a former #1 ranked Canadian Bank Analyst and top 5 ranked Canadian LifeCo Analyst. Robert is a Chartered Accountant and a CFA charter holder. He has also completed the CICA In-Depth Tax Course and has a Bachelor of Business Administration from Wilfrid Laurier University. Partner Jennifer Mersereau has 17 years in the financial services sector with experience in portfolio management/trading, equity research and insurance. Jennifer is a Fellow of the Society of Actuaries and a CFA charter holder. She has a Bachelor of Science in Mathematics and Diploma in Engineering, both from the University of Prince Edward Island.
This communication is intended for informational purposes only. The ETF is offered by prospectus. The prospectus contains important detailed information about the ETF and its units. Copies of the prospectus may be obtained from your investment advisor, First Asset or at www.sedar.com. Investors should read the prospectus before making an investment decision. Commissions, trailing fees, management fees and expenses all may be associated with investments in the ETF. The ETF is managed by First Asset Investment Management Inc.
This document may contain forward looking statements which are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Other events which were not taken into account may occur and may significantly affect the returns or performance of an ETF Fund. First Asset does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. The information in here is not intended to provide specific financial, investment, tax, legal or accounting advice, and should not be relied upon in that regard. The opinions contained in this document are solely those of the Portfolio Manager and are subject to change without notice. First Asset makes every effort to ensure that the information has been derived from sources believed to reliable and accurate. However, First Asset assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information and expressly disclaim liability for an errors or omissions of this information. First Asset is under no obligation to update the information contained herein. The information should not be regarded as a substitute for the exercise of your own judgment.
Not for dissemination to U.S. newswire services or for dissemination to the United States of America.