TORONTO, November 9, 2016 - First Asset Investment Management Inc. ("First Asset") announces that it will terminate the following funds (the "Funds"). The Funds will terminate on or about January 16, 2017 (the "Termination Date").
|Fund Name||TSX Ticker(s)|
|First Asset Provincial Bond Index ETF||PXF, PXF.A|
|First Asset Core Balanced ETF||CBB, CBB.A|
|First Asset Global Momentum Class ETF - Unhedged and CAD Hedged Classes||FGL, FGM|
|First Asset Global Value Class ETF - Unhedged and CAD Hedged Classes||FGU, FGV|
The Manager will request the TSX to de-list units (or shares) of each Fund from the Toronto Stock Exchange (the "TSX") on or about January 13, 2017. Until such date, units (or shares) of the Funds will continue to be listed on the TSX. As soon as practicable following the Termination Date, the net assets of each Fund will be liquidated and the proceeds therefrom distributed pro rata among holders of record of such Fund on the Termination Date. First Asset will issue an additional press release on or about the Termination Date confirming final details of the terminations.
With respect to First Asset Global Momentum Class ETF (TSX: FGL), First Asset Global Momentum Class (CAD Hedged) ETF (TSX: FGM), First Asset Global Value Class ETF (TSX: FGU) and First Asset Global Value Class (CAD Hedged) ETF (TSX: FGV) (each, a "Corporate Class Fund"), holders are reminded that they may take advantage of a tax-deferred switch into any one or more of the remaining share classes of First Asset Fund Corp. prior to January 1, 2017. Due to certain 2016 Canadian Federal Budget proposals impacting the Income Tax Act (Canada), beginning January 1, 2017, an exchange of shares of one Corporate Class Fund for another Corporate Class Fund will be a deemed disposition for income tax purposes.
First Asset - Smart SolutionsTM
First Asset has approximately $3.1 billion of assets under management as at November 4, 2016. 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.
For further information, please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
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.
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