First Asset Funds Inc. Announces October, 2006 Distributions
TORONTO, October 20, 2006 - First Asset Funds Inc. announces the following confirmed distributions for the month ending October 31, 2006. In all cases, the distribution will be paid on or before November 15, 2006 to unitholders of record on October 31, 2006.
First Asset Funds Inc. also announces an increase in the distribution for First Asset Equal Weight REIT Income Fund from $0.0625 to $0.08 per unit for October and estimates the same for the November and December distributions, reflecting realized gains from, among other things, the disposition of the Fund's position in Summit REIT. The REIT sector is benefiting from a growing trend of both domestic and cross-border merger and acquisition activity.
| Name | TSX Symbol |
Distribution Amount (per unit) |
TSX Trading Price (Oct. 18/06) |
Annualized Yield(a) |
Pre-Tax Interest Equivalent(b) |
|---|---|---|---|---|---|
| First Asset Yield Opportunity | FAY.UN | $0.1458 | $23.68 | 7.39% | 8.67% |
| Preferred Securities Income Fund | PFS.UN | $0.12 | $20.00 | 7.20% | 10.32% |
| Preferred Securities Limited Duration Fund - Series A | PLD.UN | $0.1042 | $20.45 | 6.11% | 8.76% |
| Preferred Securities Limited Duration - Series B | PLD.U | US $0.0417 |
US $8.09 |
6.19% | 8.86% |
| Global 45 Split Corp. - Class A | GFV | $0.10 | $13.05 | 9.20% | 13.18% |
| First Asset Equal Weight REIT Income Fund | RIT.UN | $0.0800 | $12.33 | 7.79% | 9.81% |
| First Asset Pipes & Power Income Fund | EWP.UN | $0.05833 | $8.66 | 8.08% | 9.48% |
| First Asset/BlackRock North American Dividend Achievers™ Trust | BDA.UN | $0.05 | $9.61 | 6.24% | 8.95% |
| Payout Performers™ Income Fund | PPF.UN | $0.05 | $9.40 | 6.38% | 7.77% |
| Split REIT Opportunity Trust - Capital Units | SOT.UN | $0.07813 | $14.52 | 6.46% | 9.25% |
| (a) Based on trading price as at close on October 18, 2006 | (b) Estimated. Based on Ontario tax rates | ||||
For further information, please call Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289, or visit www.firstassetfunds.com.