TORONTO, December 19, 2016 – First Asset announces the following estimated regular distributions ("Estimated Regular Distributions") for the year ending December 31, 2016. As at the date hereof, none of the closed-end funds managed by First Asset are required to make any special distributions in respect of the year-ending December 31, 2016. Please note that these are estimated amounts only as of November 30, 2016 and include certain forward-looking information which may cause the estimated distributions to change before the Funds' tax year-end on December 31, 2016. The final distribution amounts will be confirmed and announced shortly after the year-end and prior to payment; once each Fund's year-end tax position is finalized.
Estimated Regular Distributions
The following Estimated Regular Distributions will be paid in cash on or before January 13, 2017, to holders of record on December 30, 2016.
|Name||TSX Symbol||Estimated Regular Distribution (per unit)|
|First Asset Diversified Convertible Debenture Fund||DCD.UN||$0.30|
|First Asset Canadian Convertibles Fund||ADC.UN||$0.15|
|First Asset North American Convertibles Fund||NCD.UN||$0.125|
|First Asset Morningstar U.S. Consumer Defensive Index Fund||UCD.UN||$0.0578|
The actual taxable amounts of all distributions for 2016, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2017.
First Asset provides estimated distributions for information purposes only. These estimates are not intended to be, nor should they be construed to be, legal or tax advice to any particular person.
This press release contains forward-looking statements with respect to the estimated Special Distributions for the Funds. By their nature, these forward-looking statements involve certain risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual distributions to differ from the estimated distributions between now and December 31, 2016 (the Funds' tax year-ends) include, without limitation: the actual amounts of distributions received by the Funds; the actual amount of capital gains generated from sales of securities; and redemption activity in the Funds.
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For further information, please contact Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
This communication is intended for informational purposes only. You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
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