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A Unique Opportunity for Smart Portfolios as First Asset Pipes & Power Income Fund Completes Conversion to First Asset Active Utility & Infrastructure ETF

TORONTO, January 16, 2015 - First Asset Active Utility & Infrastructure ETF (the "First Asset ETF") (TSX: FAI) announces that it has completed the conversion from a closed-end fund (First Asset Pipes & Power Income Fund) to an exchange-traded fund, as approved by unitholders at the special meeting held on December 18, 2014. Units of First Asset Pipes & Power Income Fund have been re-designated as common units of the First Asset ETF which trade on the Toronto Stock Exchange under ticker "FAI".

As the only actively managed ETF of its kind in the industry, First Asset Active Utility & Infrastructure ETF represents an attractive risk-adjusted opportunity to earn stable dividends from utility companies and participate in the build out of the North American energy infrastructure sector, while limiting the volatility that typically accompanies a more direct relationship with the underlying commodities.

"We are excited to offer a solution that will allow advisors to deliver a liquid and low cost approach to investing in utilities and in the growing North American energy infrastructure sector. First Asset Active Utility & Infrastructure ETF is focused on issuers with long-life assets that produce stable and predictable cash flows with a mandate that allows the necessary flexibility and reach to capitalize on the changing energy environment."
Barry Gordon, President and CEO, First Asset Investment Management Inc.

First Asset Active Utility & Infrastructure ETF's investment objectives are to provide holders of units with monthly cash distributions and the opportunity for capital appreciation from an actively managed portfolio comprised primarily of equity securities of Utility & Infrastructure Issuers. "Utility and Infrastructure Issuers" are typically issuers that derive their revenue from the distribution, wholesale or retail, of oil, natural gas or other refined products typically pursuant to fixed rate transportation tolls or from power generation and sale including hydroelectric, gas-fired, coal-fired and wind, among others, typically pursuant to long term fixed price contracts; service and support these industries; or are otherwise in the energy infrastructure industry.

In addition to the common units, a new class of advisor units of First Asset Active Utility & Infrastructure ETF has been created. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the advisor units under the symbol FAI.A, subject to the fulfillment of the TSX requirements.

First Asset - Smart SolutionsTM
First Asset is an independent 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.

This communication is intended for informational purposes only. This offering is made only by prospectus. The prospectus contains important detailed information about the ETF and its units. A copy 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.

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

Not for dissemination to U.S. Newswire Services or for dissemination in the United States of America.