TORONTO, December 5, 2014 - First Asset Investment Management Inc. ("First Asset") announces the estimated annual special year-end distributions (the "Special Distributions") for the 2014 tax year for the First Asset ETFs listed below. Please note that these are estimated amounts only as of December 1, 2014 and include certain forward-looking information which may cause the estimated Special Distributions to change before the First Asset ETFs' tax year-end on December 15, 2014. These estimated amounts are for the Special Distributions only and do not include the ongoing monthly or quarterly cash distribution amounts which are expected to be announced on or before December 17, 2014.
Each of the First Asset ETFs is required to distribute any net income and capital gains that it has earned in the year. The Special Distributions will generally consist of capital gains and will not be paid in cash, but will be reinvested and the resulting units immediately consolidated so that the number of units held by each investor will not change. Investors holding their units outside registered plans will have taxable amounts to report and an increase in the adjusted cost base of their investment. In all cases, the Special Distributions will be paid to unitholders of record on December 30, 2014. The ex-dividend date in each case is December 24, 2014.
First Asset expects to announce the final Special Distribution amounts (subject to any further revisions to per unit amounts resulting from subscription and redemption activity prior to the record date), as well as regular monthly or quarterly cash distribution amounts, on or about December 17, 2014. The actual taxable amounts of all distributions (cash and reinvested) for 2014, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2015.
|Fund Name||TSX Trading Symbol||Estimated Special Distributions per Fund Unit as at December 1, 2014|
|First Asset Morningstar Canada Dividend Target 30 Index ETF||DXM||$0.1252|
|First Asset Morningstar National Bank Québec Index ETF||QXM||$0.3832|
|First Asset Morningstar Canada Value Index ETF||FXM||$0.4251|
|First Asset Morningstar Canada Momentum Index ETF||WXM||$0.0558|
|First Asset Morningstar US Value Index ETF||XXM||$0.0000|
|First Asset Morningstar International Value Index ETF||VXM||$0.0412|
|First Asset Morningstar International Momentum Index ETF||ZXM||$0.0810|
|First Asset MSCI Canada Low Risk Weighted ETF||RWC||$0.2407|
|First Asset MSCI USA Low Risk Weighted ETF||RWU||$0.3266|
|First Asset MSCI Europe Low Risk Weighted ETF||RWE||$0.5595|
|First Asset MSCI World Low Risk Weighted ETF||RWW||$0.2584|
|First Asset Can-60 Covered Call ETF||LXF||$0.00|
|First Asset Can-Energy Covered Call ETF||OXF||$0.00|
|First Asset Can-Financials Covered Call ETF||FXF||$0.00|
|First Asset Can-Materials Covered Call ETF||MXF||$0.00|
|First Asset Canadian Convertible Bond ETF||CXF||$0.00|
|First Asset Tech Giants Covered Call ETF||TXF||$0.00|
|First Asset Morningstar US Dividend Target 50 Index ETF||UXM||$0.00|
|First Asset Morningstar US Momentum Index ETF||YXM||$0.00|
|First Asset Hamilton Capital European Bank ETF||FHB||$0.00|
|First Asset U.S. & Canada Lifeco Income ETF||FLI||$0.00|
|First Asset Active Canadian Dividend ETF||FDV||$0.00|
|First Asset Active Canadian REIT ETF||FRF||$0.00|
|First Asset Government Bond Barbell Index ETF||GXF||$0.00|
|First Asset Corporate Bond Barbell Index ETF||KXF||$0.00|
|First Asset All Canada Bond Barbell Index ETF||AXF||$0.00|
|First Asset Provincial Bond Index ETF||PXF||$0.00|
|First Asset 1-5 Year Laddered Government Strip Bond Index ETF||BXF||$0.00|
|First Asset Morningstar Emerging Markets Composite Bond Index ETF||EXM||$0.00|
This press release contains forward-looking statements with respect to the estimated Special Distributions for the First Asset ETFs. 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 Special Distributions to differ from the estimated Special Distributions between now and December 15, 2014 (the First Asset ETFs' tax year-ends) include, without limitation: the actual amounts of distributions received by the First Asset ETFs; the actual amount of capital gains generated from sales of securities; and subscription and redemption activity in the First Asset ETFs.
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. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.
Not for dissemination to U.S. newswire services or for dissemination to the United States of America.