Press Releases

First Asset Exchange Traded Funds Launches Three New ETFs

Toronto, July 10, 2012 - Further to its July 4, 2012 announcement, First Asset is pleased to announce that three of its new exchange traded funds have closed their offerings of Common Units and Advisor Units. The funds will commence trading on the Toronto Stock Exchange (“TSX”) when the markets open today under the following ticker symbols:

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Fund                                         Common Units(i)  Management Fee
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First Asset DEX Government Bond Barbell                                     
 Index ETF                                               GXF           0.20%
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First Asset DEX Corporate Bond Barbell Index                                
 ETF                                                     KXF           0.25%
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First Asset DEX All Canada Bond Barbell                                     
 Index ETF                                               AXF           0.25%
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(i) Also available in Advisor Class under GXF.A; KXF.A; AXF.A 

Barry Gordon, President and CEO of First Asset ETFs believes investment advisors and investors should consider a barbell bond ETF as part of a prudent bond investment strategy, "The First Asset Barbell Bond ETFs and the DEX Indexes which they replicate allocate investment grade fixed income securities in a balanced way, combining 50% short term and floating rate bonds with 50% in higher yielding longer term bonds – an ideal combination to maintain a strong yield while mitigating inflation and interest rate risk and protecting the value of your portfolio, on a low cost basis."

Each First Asset DEX ETF is unique in the Canadian marketplace and has been designed to replicate, to the extent possible, the performance of a particular PC-Bond DEX Bond Barbell Index on a low cost basis, as described below.

First Asset DEX Government Bond Barbell Index ETF

The First Asset DEX Government Bond Barbell Index ETF has been designed to replicate, to the extent possible, the performance of the DEX Government Bond Barbell Index, net of expenses. The DEX Government Bond Barbell Index is comprised of Canadian federal government, provincial government and municipal government bonds. The Index is divided into two buckets, each representing approximately 50% of the total market value, with the short maturity bucket comprised of floating rate notes and fixed coupon bonds with at least 1 year to maturity but less than 2 years to maturity, and the long maturity bucket comprised of fixed coupon bonds with at least 10 years to maturity but less than 20 years to maturity.

First Asset DEX Corporate Bond Barbell Index ETF

The First Asset DEX Corporate Bond Barbell Index ETF has been designed to replicate, to the extent possible, the performance of the DEX Corporate Bond Barbell Index, net of expenses. The DEX Corporate Bond Barbell Index is comprised of investment grade fixed income securities issued by Canadian corporations, as well as special purpose companies utilized and fully and unconditionally guaranteed by Canadian corporations that are federally regulated entities by the Office of the Superintendent of Financial Institutions Canada, where such company is a financing vehicle for the corporation in question. The Index is divided into two buckets, each representing approximately 50% of the total market value, with the short maturity bucket comprised of floating rate notes and fixed coupon bonds with at least 1 year to maturity but less than 2 years to maturity, and the long maturity bucket comprised of fixed rate bonds with at least 10 years to maturity but less than 20 years to maturity.

First Asset DEX All Canada Bond Barbell Index ETF

The First Asset DEX All Canada Bond Barbell Index ETF has been designed to replicate, to the extent possible, the performance of the DEX All Canada Bond Barbell Index, net of expenses. The DEX All Canada Bond Barbell Index is comprised of Canadian federal government, provincial government and municipal government bonds (the “government bonds”), and investment grade fixed income securities issued by Canadian corporations and special purpose companies utilized and fully and unconditionally guaranteed by Canadian corporations that are federally regulated entities by the Office of the Superintendent of Financial Institutions Canada, where such company is a financing vehicle for the corporation in question (the “corporate bonds”). The Index is divided into two buckets, each representing approximately 50% of the total market value, with the short maturity bucket comprised of floating rate notes and fixed coupon bonds with at least 1 year to maturity but less than 2 years to maturity, and the long maturity bucket comprised of bonds with at least 10 years to maturity but less than 20 years to maturity.

About Barbell Investing

A barbell bond investment strategy is implemented, as the name implies – with 50% weighting in short term bonds and floating rate notes and a 50% weighting in long term bonds, with nothing in the middle.

In effect, it balances "defensive" holdings in the short bucket with “offensive” holdings in the long bucket. The 50% in the short duration instruments – floaters and fixed rate bonds with near term maturities, provides minimal duration (interest rate) risk, and provides significant available capital to benefit from rising short term interest rates. That defensive positioning preserves capital and allows an investor to benefit from rising short term yields. The 50% invested in the longer duration instruments provides higher current income investors need in a low rate environment, as well as exposure to longer term bonds in the event that long term rates remain unchanged or decline.

About First Asset

Founded in 1996, First Asset is a Canadian, independent investment management company that manages and administers in excess of $2.5 billion in assets. First Asset offers a diverse range of investment products including exchange listed investment funds, mutual funds and ETFs covering a variety of domestic and global mandates.

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

"DEX Government Bond Barbell IndexTM", "DEX Corporate Bond Barbell IndexTM" and "DEX All Canada Bond Barbell IndexTM" are trademarks of PC-Bond, a business unit of TSX Inc.. These marks have been sublicensed for use for certain purposes to First Asset by PC-Bond. The First Asset ETFs are not sponsored, endorsed, sold or promoted by PC-Bond, its affiliates or third party data suppliers and they make no representation, warranty, or condition regarding the advisability of investing in the First Asset ETFs."

This communication is intended for informational purposes only. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.

For more information or to arrange an interview:
Terance Brouse Senior Consultant, Xposure PR
(647) 274-5249, terance@xposurepr.com