TORONTO, September 24, 2015 – First Asset CanBanc Income ETF (TSX: CIC) announces that it has completed the conversion from a closed-end fund (CanBanc Income Corp.) to an exchange-traded fund. Today, outstanding equity shares of CanBanc Income Corp. have been re-designated as ETF Shares of First Asset CanBanc Income ETF (the "ETF"), which trade on the Toronto Stock Exchange under ticker "CIC".
An attractive risk adjusted way to own Canadian Banks
CIC provides an attractive opportunity for investors looking for exposure to the big six Canadian banks with enhanced yield potential. First Asset believes that the common shares of these banks are attractive long-term investments, but that they may exhibit significant price volatility from time to time. CIC's investment strategy incorporates selling call options to capitalize on volatility while retaining all the upside on a significant portion of the portfolio. This balanced approach is designed to perform in a variety of different market environments and deliver:
- Downside protection
- Lower overall volatility of returns
- Increased cash-flow for distribution
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.
First Asset - Smart SolutionsTM
First Asset is an independent investment firm, focused on providing smart, low cost solutions that address the real-world investment needs of Canadians - capital appreciation, income generation and risk mitigation. 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.
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.
Not for dissemination to U.S. newswire services or for dissemination to the United States of America.