Press Releases

First Asset Launches ETF Chosen Through Unprecedented Challenge to Investment Advisors

WINNING SUBMISSION FOR A 1-5 YEAR LADDERED GOVERNMENT STRIP BOND INDEX ETF EARNS CASH PRIZE DONATION FOR CAMH

TORONTO, June 4, 2013 - First Asset is pleased to announce it is launching the winning ETF submission from its recently completed "Search for Canada's Next Top ETF" contest. First Asset DEX 1-5 Year Laddered Government Strip Bond Index ETF (TSX:BXF) will be launched June 11, 2013.

Justin Bender of Toronto's PWL Capital Inc. made the winning submission and chose the Centre for Addiction and Mental Health (CAMH) as the recipient of the $10,000 first prize donation.

In February, First Asset challenged the Canadian advisor community to tell it "what's been missing" from the Canadian ETF landscape by coming up with a winning formula for its next ETF. The response was overwhelming and Mr. Bender's winning submission resulted in First Asset launching Canada’s first and only laddered government strip bond index ETF.

First Asset DEX 1-5 Year Laddered Government Strip Bond Index ETF has been designed to replicate, to the extent possible, the performance of a Canadian 1-5 year laddered government strip bond index, net of expenses. The current index is the DEX 1-5 Year Laddered Government Strip Bond Index™. The First Asset ETF invests primarily in strip bonds derived from Canadian federal and provincial government bonds issued domestically in Canada and denominated in Canadian dollars.

First Asset is an independent Canadian investment management company with a track record of innovative "firsts": the first convertible bond ETF, the first Canadian ETFs that track Morningstar indexes, the first Quebec-based ETF, the first ETFs to employ a barbell bond strategy, and the first broad Provincial bond ETF. With the competition, First Asset has created another first. It is the first ETF provider to challenge the investment advisor community to tell them what advisors and their clients need in an ETF, and is now the first company in Canada to launch such an ETF.

"At First Asset we pride ourselves on product innovation and supporting advisors and the communities they serve," said Barry Gordon, President and CEO of First Asset. "We are excited to launch an ETF based on Mr. Bender’s winning submission, which solves a significant problem for taxable investors in bonds."

In the spirit of the contest and in recognition for what it believes is an important ETF solution in the marketplace, First Asset will not commence charging a management fee to the ETF until July 20141. "Investing in our clients is a priority to us. We believe that not charging a management fee for the first year demonstrates our commitment to our clients", Mr. Gordon explained. "This is a winning ETF idea and we believe it to be a smart and tax-efficient fixed income solution for advisors and their clients."

About the Contest

First Asset ran the challenge within the investment advisor community across Canada. Advisors submitted a 50-word description of their ETF recommendation. All submissions were screened against viability criteria, shortlisted, and then voted on by the First Asset selection team. The challenge ran between February 14 and March 31, 2013. $20,000 in cash prizes were awarded to the winners’ preferred charities, which were, in order:

  • 1st Justin Bender, PWL Capital Inc. – $10,000 for CAMH
  • 2nd Dean Bradshaw, Scotia McLeod – $5,000 for the Tom Baker Cancer Centre
  • 3rd Mark Williams, BMO Nesbitt Burns – $5,000 for Big Brothers and Big Sisters of Ingersol

About First Asset

Founded in 1996, First Asset is a Canadian, independent investment management company that manages and administers in excess of $2.6 billion in assets. First Asset offers a diverse range of investment products including ETFs, mutual funds and other exchange listed investment funds, 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.

1. Advisor class units will still be subject to the service fee paid to advisors. 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. "DEX 1-5 Year Laddered Government Strip Bond IndexTM" is a trademark of FTSE TMX Global Debt Capital Markets Inc. and has been sublicensed for use for certain purposes to First Asset. The First Asset ETF is not sponsored, endorsed, sold or promoted by FTSE TMX Global Debt Capital Markets Inc., FTSE International Limited, TMX Group Inc., their affiliates, third party data suppliers or licensors (collectively, the "FTSE TMX Indices Parties"). The FTSE TMX Indices Parties make no representation, condition or warranty, express or implied, to Unitholders of the First Asset ETF or any member of the public regarding the advisability of investing in securities generally or in the First Asset ETF particularly or the ability of the Index to track general bond market performance or any other economic factors.

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