October 23, 2015 – As announced earlier today by CI Financial Corp. (“CI Financial”), First Asset Capital Corp. (“First Asset”) confirmed today that it has agreed to be acquired by CI Financial. The transaction will result in a change of control of First Asset Investment Management Inc., the investment manager of the Funds listed below. The transaction is not expected to result in any changes in the day-to-day affairs of the Funds as First Asset’s current management group will continue to operate First Asset’s business after the transaction is completed. Fund Unitholders are not required to take any action. The transaction, which is subject to regulatory approval, is currently expected to close by December 31, 2015.
Funds (including TSX ticker symbols where applicable):
Exchange-Traded Funds - First Asset Can-Energy Covered Call ETF (OXF; OXF.A); First Asset Can-Materials Covered Call ETF (MXF; MXF.A); First Asset Canadian Convertible Bond ETF (CXF; CXF.A); First Asset Tech Giants Covered Call ETF (TXF; TXF.A); First Asset Energy Giants Covered Call ETF (NXF; NXF.A; NXF.B; NXF.D); First Asset Morningstar Canada Dividend Target 30 Index ETF (DXM; DXM.A); First Asset Morningstar Canada Momentum Index ETF (WXM; WXM.A); First Asset Morningstar Canada Value Index ETF (FXM; FXM.A); First Asset Morningstar National Bank Quebec Index ETF (QXM; QXM.A); First Asset Morningstar US Dividend Target 50 Index ETF (UXM; UXM.A; UXM.B; UXM.D); First Asset Morningstar US Momentum Index ETF (YXM; YXM.A; YXM.B; YXM.D); First Asset Morningstar US Value Index ETF (XXM; XXM.A; XXM.B; XXM.D); First Asset Morningstar International Value Index ETF (VXM; VXM.A; VXM.B; VXM.D); First Asset Morningstar International Momentum Index (ETF ZXM; ZXM.A; ZXM.B; ZXM.D); First Asset Provincial Bond Index ETF (PXF; PXF.A); First Asset 1-5 Year Laddered Government Strip Bond Index ETF (BXF; BXF.A); First Asset MSCI Canada Low Risk Weighted ETF (RWC; RWC.A); First Asset MSCI USA Low Risk Weighted ETF (RWU; RWU.A; RWU.B; RWU.D); First Asset MSCI Europe Low Risk Weighted ETF (RWE; RWE.A; RWE.B; RWE.D); First Asset MSCI World Low Risk Weighted ETF (RWW; RWW.A; RWW.B; RWW.D); First Asset Hamilton Capital European Bank ETF (FHB; FHB.A); First Asset Active Canadian Dividend ETF (FDV; FDV.A); First Asset US & Canada Lifeco Income ETF (FLI; FLI.A); First Asset Active Utility & Infrastructure ETF (FAI; FAI.A); First Asset Active Credit ETF (FAO; FAO.A; FAO.U; FAO.V); First Asset Canadian REIT ETF (RIT; RIT.A); First Asset Core Canadian Equity ETF (CED; CED.A); First Asset Core U.S. Equity ETF (CES; CES.A; CES.B; CES.D; CES.U; CES.V); First Asset Core Balanced ETF (CBB; CBB.A); and First Asset CanBanc Income ETF (CIC; CIC.A).
Closed-End Funds – First Asset Energy & Resource Fund (TRF.UN); JFT Strategies Fund (JFT.UN; Class F Units); Preferred Share Investment Trust (PSF.UN); Triax Diversified High-Yield (TRH.UN); Utility Split Trust (UST.UN; UST.PR.B); First Asset Morningstar US Consumer Defensive Index Fund (UCD.UN); First Asset Hamilton Capital European Bank Fund (EB.UN); Canadian Advantaged Convertibles Fund (ADC.UN); Canadian Convertibles Fund; First Asset Diversified Convertible Debenture Fund (DCD.UN); North American Advantaged Convertibles Fund (NCD.UN); Convertibles Portfolio Fund; Can-60 Income Corp. (CSY); CanBanc 8 Income Corp. (CBF); Can-Financials Income Corp. (FIC); and First Asset CanBanc Split Corp. (CBU; CBU.PR.A).
Mutual Funds – First Asset Resource Fund Inc.; First Asset Canadian Convertible Bond Fund; First Asset Canadian Convertible Debenture Fund; First Asset Canadian Energy Convertible Debenture Fund; First Asset Canadian Dividend Opportunity Fund; First Asset Canadian Dividend Opportunity Fund II; First Asset Global Dividend Fund; First Asset REIT Income Fund; and First Asset Utility Plus Fund.
About First Asset
First Asset is an investment firm focused on providing smart, low cost solutions that address the real-world investment needs of Canadians – capital appreciation, income generation and risk mitigation. Rooted in strong fundamentals, First Asset’s smart solutions strive to deliver better risk-adjusted returns than the broad market while helping investors achieve their personal financial goals.
For further information, please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
This press release contains forward-looking statements with respect to First Asset and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.
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