July 14, 2015 – First Asset Canadian REIT ETF (TSX: RIT) announces that it has completed the conversion from a closed-end fund (First Asset Canadian REIT Income Fund) to an exchange-traded fund. Today, outstanding units of First Asset Canadian REIT Income Fund have been re-designated as common units of the First Asset Canadian REIT ETF which trade on the Toronto Stock Exchange under ticker "RIT".
First Asset's Lee Goldman has successfully actively managed First Asset Canadian REIT Income Fund since 2007 and will continue to manage the portfolio.
"Mr. Goldman has demonstrated exceptional insights into the Canadian real estate market consistently beating the benchmark and nearly doubling it over the past year. The conversion to an ETF provides unitholders with a lower cost, transparent solution while continuing to benefit from the proven expertise of Mr. Goldman." - Barry Gordon, President and CEO, First Asset Investment Management Inc.
First Asset Canadian REIT Income Fund's performance since its inception in 20041.
|Year to Date||1 Year||3 Year||5 Year||10 Year||Since Inception
(November 14, 2004)
|First Asset Canadian REIT Income Fund||5.32%||10.14%||8.54%||13.89%||9.77%||10.56%|
|S&P/TSX Capped REIT Total Return Index2||4.57%||5.98%||5.29%||12.96%||9.54%||10.15%|
|Data as at May 29, 2015|
First Asset Canadian REIT ETF (RIT) represents an attractive risk-adjusted opportunity to earn regular income and long-term capital growth from primarily Canadian real estate investment trusts (REITs), real estate operating corporations (REOCs) and entities involved in real estate related services.
For further information, please contact Investor Relations, First Asset Investment Management Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
1 The Fund was originally launched as a TSX-listed closed-end fund on November 15, 2004, and converted into a TSX-listed exchange traded fund on July 14, 2015. Performance shown is since inception of the closed-end fund on November 15, 2004.
2 S&P/TSX Capped REIT Total Return Index is a capitalization-weighted index designed to measure market activity of the real estate sector issuers listed on the Toronto Stock Exchange. The Index is used as a benchmark to help you understand the Fund's performance relative to the general performance of the Canadian real estate sector.
Please read the prospectus before investing. Important information about the ETF is contained in its prospectus. Individuals should seek the advice of professionals, as appropriate, prior to investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in ETFs. The ETF is managed by First Asset Investment Management Inc.
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