Pour diffusion

First Asset Closed-End Funds March Distributions

TORONTO, March 20, 2014 – First Asset Closed-End Funds announces the following distributions for the month and quarter ending March 31, 2014.  In all cases, the distribution will be paid on or before April 15, 2014, to holders of record on March 31, 2014.


----------------------------------------------------------------------------
                                                          Confirmed Regular 
Name                                      TSX Symbol Distribution (per unit)
----------------------------------------------------------------------------
First Asset Yield Opportunity Trust -                                       
 Series A                                     FAY.UN         $        0.1458
----------------------------------------------------------------------------
First Asset Yield Opportunity Trust -                                       
 Series B                                      FAY.U         $  0.0440 (USD)
----------------------------------------------------------------------------
First Asset Canadian REIT Income Fund         RIT.UN         $        0.0500
----------------------------------------------------------------------------
First Asset Pipes & Power Income Fund         EWP.UN         $        0.0300
----------------------------------------------------------------------------
Utility Split Trust - Capital Units           UST.UN         $        0.0500
----------------------------------------------------------------------------
Utility Split Trust - Preferred Shares      UST.PR.B         $        0.1313
----------------------------------------------------------------------------
Triax Diversified High-Yield Trust            TRH.UN         $        0.0700
----------------------------------------------------------------------------
First Asset Diversified Convertible                                         
 Debenture Fund                               DCD.UN         $        0.3000
----------------------------------------------------------------------------
Preferred Share Investment Trust              PSF.UN         $0.1500(Note 1)
----------------------------------------------------------------------------
First Asset CanBanc Split Corp. -                                           
 Preferred Shares                           CBU.PR.A         $        0.1625
----------------------------------------------------------------------------
CanBanc Income Corp.                             CIC         $        0.1750
----------------------------------------------------------------------------
Can-60 Income Corp.                              CSY         $        0.1625
----------------------------------------------------------------------------
Canadian Advantaged Convertibles Fund         ADC.UN         $        0.1500
----------------------------------------------------------------------------
Can-Financials Income Corp.                      FIC         $        0.1500
----------------------------------------------------------------------------
North American Advantaged Convertibles                                      
 Fund                                         NCD.UN         $        0.1250
----------------------------------------------------------------------------
CanBanc 8 Income Corp.                           CBF         $        0.1500
----------------------------------------------------------------------------
First Asset Morningstar U.S. Consumer                                       
 Defensive Index Fund                         UCD.UN         $        0.0569
----------------------------------------------------------------------------
First Asset U.S. & Canada LifeCo Income                                     
 Fund                                         ULC.UN        $        0.1625
----------------------------------------------------------------------------
Note 1 - 1.	With respect to Preferred Share Investment Trust (TSX: PSF.UN),
 the amount of the quarterly distribution has been lowered to $0.150 per unit
  (from $0.175 per unit). This reduction reflects the current defensive 
  positioning of the Fund and the desire to conserve cash for the benefit of 
  the Fund’s NAV and for deployment into higher yielding opportunities as 
  they are expected to become available. The Manager will continue to assess 
  the amount of the distribution on a quarterly basis having regard to, among 
  other things, the anticipated net cash flows, the net asset value and 
  markets generally. There can be no assurance that the amount will not vary 
  from quarter to quarter, or that the Fund will make any distribution in 
  any particular quarter.

 

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