First Asset Funds Inc. Confirms Distributions
TORONTO, January 3, 2007 - First Asset Funds Inc. announces that the estimated distributions for the period ending December 31, 2006 which were announced on December 18, 2006 (as set out below) have all been confirmed with the exception of the special distribution for First Asset Equal Weight REIT Income Fund (TSX: RIT.UN) (the "Fund") which is now confirmed at $0.12 per Unit as opposed to $0.17 per Unit. This takes the aggregate distribution for the Fund to $0.20 per Unit. The change in the special distribution is attributable to the Fund's ability to retain additional taxable capital gains in the Fund, thereby further deferring tax for Unitholders. In all cases, the distribution will be paid on or before January 15, 2007 to unitholders of record on December 29, 2006.
| Name | TSX Symbol |
Distribution Amount (per unit) |
TSX Trading Price(a) |
Annualized Yield(b) |
Pre-Tax Interest Equivalent(c) |
|---|---|---|---|---|---|
| First Asset Yield Opportunity | FAY.UN | $0.1458 | $24.10 | 7.26% | 8.52% |
| Preferred Securities Income Fund | PFS.UN | $0.12 | $20.06 | 7.18% | 10.29% |
| Preferred Securities Limited Duration Fund - Series A | PLD.UN | CDN $0.1042 |
CDN $20.22 |
6.18% | 8.86% |
| Preferred Securities Limited Duration - Series B | PLD.U | US $0.0417 |
US $8.06 |
6.21% | 8.90% |
| Global 45 Split Corp. - Class A | GFV | $0.10 | $14.04 | 8.55% | 12.25% |
| First Asset Equal Weight REIT Income Fund | RIT.UN | $0.2000 | $13.49 | 6.84%(d) | 8.62% |
| First Asset Pipes & Power Income Fund | EWP.UN | $0.05833 | $7.60 | 9.21% | 10.81% |
| First Asset/BlackRock North American Dividend Achievers™ Trust | BDA.UN | $0.05 | $9.89 | 6.07% | 8.69% |
| Payout Performers™ Income Fund | PPF.UN | $0.05 | $8.50 | 7.06% | 8.59% |
| Split REIT Opportunity Trust - Capital Units | SOT.UN | $0.07813 | $16.68 | 5.62% | 8.06% |
| Utility Split Trust - Capital Units | UST.UN | $0.0906 | $14.50 | 7.50% | 10.75% |
| Global 45 Split Corp. - Preferred Shares | GFV.PR.A | $0.13125 | $10.40 | 5.05% | 7.23% |
| Split REIT Opportunity Trust - Preferred Securities | SOT.PR.A | $0.14375 | $10.25 | 5.61% | 5.61% |
| Utility Split Trust - Preferred Securities | UST.PR.A | $0.07397(e) | $10.40 | 6.00% | 6.00% |
| (a) As at close on January 2, 2007 (c) Estimated. Based on Ontario tax rates. (e) Reflects interest from closing date (45 days). | (b) Based on trading price as at Jan. 2, 2007 (d) Based on trailing 12-month distributions. | ||||
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.