/NOT FOR DISSEMINATION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA./
TORONTO, July 17, 2017 /CNW/ - Further to its
announcements on April 3, 2017 and
May 1, 2017, First Asset Investment
Management Inc. ("First Asset"), the manager of the First
Asset Exchange Traded Funds ("ETFs"), announces that it has
completed the conversion of all advisor class units to the
corresponding common class units of the same ETF at the close of
business on Friday, July 14, 2017
(the "Conversion Date").
On the Conversion Date, First Asset reduced the annual
management fee on the advisor class units by an amount equal to the
applicable service fee payable in respect of that class of units
and thereafter converted all advisor class units into the
corresponding common class units of the same ETF. Holders of
record of the advisor class units on the Conversion Date will
receive a number of whole converted common class units of the same
ETF with an aggregate net asset value ("NAV") equal to the
aggregate NAV of the units converted, based on their respective
NAVs as of the Conversion Date (the "Conversion Ratio"). The
conversion of advisor-class units into whole common class units of
the same ETF does not give rise to a disposition by unitholders of
converting advisor-class units for tax purposes on any whole units
converted. Any remaining fractional advisor-class units will be
redeemed for cash and such redemption will be considered a
disposition for tax purposes.
The list of affected ETFs, the management fee reduction and the
Conversion Ratio of advisor-class units to common class units for
each ETF is detailed in the table below.
No action is required by unitholders on any of these
changes.
First Asset – Smart SolutionsTM
First
Asset, a CI Financial Company, is a Canadian investment firm
delivering a comprehensive suite of smart ETF solutions. 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.
TMFirst Asset and its logo are trademarks of First
Asset Capital Corp., a wholly-owned subsidiary of CI Financial
Corp. which is listed on the Toronto Stock Exchange under the
symbol "CIX". ®CI FINANCIAL is a registered trademark of CI
Investments Inc., used under license.
|
ETF
Name
|
Advisor Class
Management
Fee
|
Management Fee
After Conversion
Date
|
Advisor
Class
Ticker
|
Common
Class
Ticker
|
Conversion
Ratio
|
|
1.
|
First Asset Canadian
Convertible Bond ETF
|
1.40%
|
0.65%
|
CXF.A
|
CXF
|
0.9997
|
|
2.
|
First Asset 1-5 Year
Laddered Government Strip Bond Index ETF
|
0.70%
|
0.20%
|
BXF.A
|
BXF
|
0.9997
|
|
3.
|
First Asset
Can-Energy Covered Call ETF
|
1.40%
|
0.65%
|
OXF.A
|
OXF
|
1.0090
|
|
4.
|
First Asset
Can-Materials Covered Call ETF
|
1.40%
|
0.65%
|
MXF.A
|
MXF
|
1.0090
|
|
5.
|
First Asset Tech
Giants Covered Call ETF
|
1.40%
|
0.65%
|
TXF.A
|
TXF
|
0.9982
|
|
6.
|
First Asset Energy
Giants Covered Call ETF
|
1.40%
|
0.65%
|
NXF.A
|
NXF
|
1.0015
|
|
|
1.40%
|
0.65%
|
NXF.D
|
NXF.B
|
1.0015
|
|
7.
|
First Asset European
Bank ETF
|
1.60%
|
0.85%
|
FHB.A
|
FHB
|
0.9944
|
|
8.
|
First Asset U.S.
& Canada Lifeco Income ETF
|
1.50%
|
0.75%
|
FLI.A
|
FLI
|
1.0119
|
|
9.
|
First Asset Active
Canadian Dividend ETF
|
1.30%
|
0.55%
|
FDV.A
|
FDV
|
0.9987
|
|
10.
|
First Asset Active
Utility & Infrastructure ETF
|
1.40%
|
0.65%
|
FAI.A
|
FAI
|
1.0003
|
|
11.
|
First Asset Canadian
REIT ETF
|
1.50%
|
0.75%
|
RIT.A
|
RIT
|
1.0006
|
|
12.
|
First Asset
Morningstar Canada Dividend Target 30 Index ETF
|
1.35%
|
0.60%
|
DXM.A
|
DXM
|
0.9980
|
|
13.
|
First Asset
Morningstar US Dividend Target 50 Index ETF
|
1.35%
|
0.60%
|
UXM.A
|
UXM
|
0.9969
|
|
|
1.35%
|
0.60%
|
UXM.D
|
UXM.B
|
0.9992
|
|
14.
|
First Asset
Morningstar Canada Momentum Index ETF
|
1.35%
|
0.60%
|
WXM.A
|
WXM
|
0.9978
|
|
15.
|
First Asset
Morningstar US Momentum Index ETF
|
1.35%
|
0.60%
|
YXM.A
|
YXM
|
0.9758
|
|
|
1.35%
|
0.60%
|
YXM.D
|
YXM.B
|
0.9722
|
|
16.
|
First Asset
Morningstar Canada Value Index ETF
|
1.35%
|
0.60%
|
FXM.A
|
FXM
|
0.9965
|
|
17.
|
First Asset
Morningstar US Value Index ETF
|
1.35%
|
0.60%
|
XXM.A
|
XXM
|
0.9969
|
|
|
1.35%
|
0.60%
|
XXM.D
|
XXM.B
|
0.9955
|
|
18.
|
First Asset
Morningstar International Value Index ETF
|
1.35%
|
0.60%
|
VXM.A
|
VXM
|
0.9984
|
|
|
1.35%
|
0.60%
|
VXM.D
|
VXM.B
|
1.0011
|
|
19.
|
First Asset
Morningstar International Momentum Index ETF
|
1.35%
|
0.60%
|
ZXM.A
|
ZXM
|
0.9982
|
|
|
1.35%
|
0.60%
|
ZXM.D
|
ZXM.B
|
0.9994
|
|
20.
|
First Asset
Morningstar National Bank Québec Index ETF
|
1.25%
|
0.50%
|
QXM.A
|
QXM
|
0.9972
|
|
21.
|
First Asset MSCI
Canada Low Risk Weighted ETF
|
1.35%
|
0.60%
|
RWC.A
|
RWC
|
0.9999
|
|
22.
|
First Asset MSCI USA
Low Risk Weighted ETF
|
1.35%
|
0.60%
|
RWU.A
|
RWU
|
1.0033
|
|
|
1.35%
|
0.60%
|
RWU.D
|
RWU.B
|
0.9999
|
|
23.
|
First Asset MSCI
Europe Low Risk Weighted ETF
|
1.35%
|
0.60%
|
RWE.A
|
RWE
|
0.9970
|
|
|
1.35%
|
0.60%
|
RWE.D
|
RWE.B
|
0.9986
|
|
24.
|
First Asset MSCI
World Low Risk Weighted ETF
|
1.35%
|
0.60%
|
RWW.A
|
RWW
|
0.9967
|
|
|
1.35%
|
0.60%
|
RWW.D
|
RWW.B
|
1.0012
|
|
25.
|
First Asset Active
Credit ETF
|
1.35%
|
0.85%
|
FAO.A
|
FAO
|
1.0045
|
|
|
1.35%
|
0.85%
|
FAO.V
|
FAO.U
|
1.0035
|
|
26.
|
First Asset Core
Canadian Equity ETF
|
0.90%
|
0.15%
|
CED.A
|
CED
|
1.0000
|
|
27.
|
First Asset Core U.S.
Equity ETF
|
0.90%
|
0.15%
|
CES.A
|
CES
|
0.9995
|
|
|
0.90%
|
0.15%
|
CES.D
|
CES.B
|
1.0008
|
|
|
0.90%
|
0.15%
|
CES.V
|
CES.U
|
0.9998
|
SOURCE First Asset