TORONTO, ONTARIO--(CCNMatthews - June 19, 2007) - First Asset Global Infrastructure Fund (the "Fund") (TSX:FAI.UN) announces that it has completed an initial public offering of 2.8 million units of the Fund at a price of $10 per unit, yielding gross proceeds of $28 million. The Fund has granted the agents for the offering an over-allotment option to acquire additional units exercisable at any time during the next 30 days.
The Fund has been created to provide unitholders with exposure to a portfolio of listed infrastructure issuers ("Infrastructure Issuers"). The portfolio will be comprised of the 75 Infrastructure Issuers which are included in the S&P Global Infrastructure Index, and select Canadian Infrastructure Issuers chosen by First Asset Investment Management Inc, the investment advisor.
The Fund's investment objectives are to (a) pay quarterly cash distributions of $0.15 per unit, or 6% per annum based on the original price of $10.00 per unit; and (b) provide long term capital appreciation through growth in the portfolio.
The syndicate of agents for this offering was led by CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and TD Securities Inc., and included, HSBC Securities (Canada) Inc, Dundee Securities Corporation, Canaccord Capital Corporation, Raymond James Ltd., Wellington West Capital Inc., Blackmont Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc., Research Capital Corporation and Richardson Partners Financial Limited.
The "S&P Global Infrastructure Index" is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by First Asset Funds Inc. The Fund is not sponsored, endorsed, sold or promoted by Standard & Poor's(R) ("S&P"), and S&P makes no representation regarding the advisability of investing in units of the Fund.
For further information, please call Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstassetfunds.com.