First Asset Diversified Convertible Debenture Fund provides Unitholders with quarterly cash distributions and the opportunity for capital appreciation. The Fund's strategy will be to invest on an actively managed basis, in a diversified portfolio comprised primarily of Convertible Debentures of Canadian and US issuers.

The Fund has exposure to its portfolio through a forward agreement with a Canadian chartered bank. The use of the forward agreement provides Unitholders with continued exposure to the portfolio of convertible debentures while facilitating tax efficient distributions to Unitholders.