Press Releases

First Asset Funds Inc. Announces March, 2007 Distributions

TORONTO, ONTARIO--(CCNMatthews - March 21, 2007) - First Asset Funds Inc. announces the following confirmed distributions for the month and quarter ending March 31, 2007. In all cases, the distribution will be paid on or before April 13, 2007 to unitholders of record on March 30, 2007.

Name TSX
Symbol
Distribution
Amount
(per unit)
TSX
Trading
Price(a)
Annualized
Yield(b)
Pre-Tax
Interest
Equivalent(c)
MONTHLY
First Asset Yield Opportunity FAY.UN $0.1458 $24.35 7.19% 8.43%
Preferred Securities Income Fund PFS.UN $0.12 $19.70 7.31% 10.48%
Preferred Securities Limited Duration Fund - Series A PLD.UN CDN
$0.1042
CDN
$20.00
6.25% 8.96%
Preferred Securities Limited Duration - Series B PLD.U USD
$0.0417
USD
$8.07
6.20% 8.89%
Global 45 Split Corp. - Class A GFV $0.10 $13.65 8.79% 12.60%
First Asset Equal Weight REIT Income Fund RIT.UN $0.08 $13.58 7.07% 8.91%
First Asset Pipes & Power Income Fund EWP.UN $0.05833 $7.44 9.41% 11.04%
First Asset/BlackRock North American Dividend AchieversTM Trust BDA.UN $0.05 $9.66 6.21% 8.90%
Payout PerformersTM Income Fund PPF.UN $0.05 $8.41 7.13% 8.68%
Split REIT Opportunity Trust - Capital Units SOT.UN $0.0875 $18.40 5.71% 8.18%
Utility Split Trust - Capital Units UST.UN $0.09688 $13.40 8.68% 12.43%
QUARTERLY
Global 45 Split Corp. - Preferred Shares GFV.PR.A $0.13125 $10.70 4.91% 7.03%
Split REIT Opportunity Trust - Preferred Securities SOT.PR.A $0.14375 $10.55 5.45% 5.45%
Utility Split Trust - Preferred Securities UST.PR.A $0.15 $10.40 5.77% 5.77%
(a) As at close on March 19, 2007
(b) Based on trading price as at Feb 15, 2007.
(c) Estimated. Based on Ontario tax rates.

For further information, please contact Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289, or visit www.firstassetfunds.com.