Communiqués de presse

First Asset ETFs Final 2014 Special Distributions, including 25% cash portion

TORONTO, December 30, 2014 - First Asset Investment Management Inc. ("First Asset") today announced the final annual special distributions (the "Special Distributions") for its First Asset exchange traded funds ("First Asset ETFs").

New this year, and unique in the ETF industry, is a 25% cash portion intended to assist unitholders in satisfying potential tax liability associated with the Special Distribution. One-quarter of each Special Distribution will be paid in cash and the balance of each Special Distribution will be paid by the issuance of units of the applicable First Asset ETF. Traditionally, special distributions are paid by Canadian ETFs entirely through the distribution of units, which can create tax liabilities for investors in non-registered accounts. In response to concerns voiced by the advisor community on behalf of clients, we introduced this change to the composition of our Special Distributions in order to address the immediate cash needs in respect of these tax liabilities.

With respect to the portion of each Special Distribution paid by the issuance of units, as is standard in the industry, immediately after the issuance of the units, the issued and outstanding capital of the First Asset ETF will be consolidated such that the number of issued and outstanding units of the First Asset ETF does not change.

The Special Distributions for the 2014 tax year for the First Asset ETFs are set out in the table below. In all cases, the Special Distributions will be paid on or before January 6, 2015, to unitholders of record on December 30, 2014.

Fund Name TSX Trading Symbol Confirmed Special Distributions per Fund Unit
In Cash In Units
First Asset Morningstar Canada Dividend Target 30 Index ETF DXM $0.0408 $0.1223
DXM.A $0.0428 $0.1283
First Asset Morningstar National Bank Québec Index ETF QXM $0.0845 $0.2535
QXM.A $0.0820 $0.2460
First Asset Morningstar Canada Value Index ETF FXM $0.1160 $0.3480
FXM.A $0.0993 $0.2978
First Asset Morningstar Canada Momentum Index ETF WXM $0.0293 $0.0878
WXM.A $0.0050 $0.0150
First Asset Morningstar US Value Index ETF XXM $0.0000 $0.0000
XXM.A $0.0000 $0.0000
XXM.B $0.0626 $0.1877
XXM.D $0.0608 $0.1823
First Asset Morningstar International Value Index ETF VXM $0.0235 $0.0705
VXM.A $0.0433 $0.1298
VXM.B $0.0000 $0.0000
VXM.D $0.0000 $0.0000
First Asset Morningstar International Momentum Index ETF ZXM $0.0265 $0.0795
ZXM.A $0.0610 $0.1830
ZXM.B $0.0000 $0.0000
ZXM.D $0.0000 $0.0000
First Asset MSCI Canada Low Risk Weighted ETF RWC $0.0528 $0.1583
RWC.A $0.0535 $0.1605
First Asset MSCI USA Low Risk Weighted ETF RWU $0.0850 $0.2550
RWU.A $0.0648 $0.1943
RWU.B $0.0878 $0.2633
RWU.D $0.0940 $0.2820
First Asset MSCI Europe Low Risk Weighted ETF RWE $0.1678 $0.5033
RWE.A $0.2463 $0.7388
RWE.B $0.0218 $0.0653
RWE.D $0.0543 $0.1628
First Asset MSCI World Low Risk Weighted ETF RWW $0.0950 $0.2850
RWW.A $0.1688 $0.5063
RWW.B $0.1223 $0.3668
RWW.D $0.1240 $0.3720
     
First Asset Can-60 Covered Call ETF LXF $0.0000
LXF.A $0.0000
First Asset Can-Energy Covered Call ETF OXF $0.0000
OXF.A $0.0000
First Asset Can-Financials Covered Call ETF FXF $0.0000
FXF.A $0.0000
First Asset Can-Materials Covered Call ETF MXF $0.0000
MXF.A $0.0000
First Asset Canadian Convertible Bond ETF CXF $0.0000
CXF.A $0.0000
First Asset Tech Giants Covered Call ETF TXF $0.0000
TXF.A $0.0000
First Asset Morningstar US Dividend Target 50 Index ETF UXM $0.0000
UXM.A $0.0000
UXM.B $0.0000
UXM.D $0.0000
First Asset Morningstar US Momentum Index ETF YXM $0.0000
YXM.A $0.0000
YXM.B $0.0000
YXM.D $0.0000
First Asset Hamilton Capital European Bank ETF FHB $0.0000
FHB.A $0.0000
First Asset U.S. & Canada Lifeco Income ETF FLI $0.0000
FLI.A $0.0000
First Asset Active Canadian Dividend ETF FDV $0.0000
FDV.A $0.0000
First Asset Active Canadian REIT ETF FRF $0.0000
FRF.A $0.0000
First Asset Government Bond Barbell Index ETF GXF $0.0000
GXF.A $0.0000
First Asset Corporate Bond Barbell Index ETF KXF $0.0000
KXF.A $0.0000
First Asset All Canada Bond Barbell Index ETF AXF $0.0000
AXF.A $0.0000
First Asset Provincial Bond Index ETF PXF $0.0000
PXF.A $0.0000
First Asset 1-5 Year Laddered Government Strip Bond Index ETF BXF $0.0000
BXF.A $0.0000
First Asset Morningstar Emerging Markets Composite Bond Index ETF EXM $0.0000
EXM.A $0.0000

These final amounts are for the Special Distributions only and do not include the ongoing monthly or quarterly cash distribution amounts which were announced on December 17, 2014, in a separate press release. These final Special Distribution amounts replace the previous estimates announced on December 5, 2014 and December 17, 2014, respectively.

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.

Supporting Investors' Needs
Stay in the market, minimize costs, and take advantage of a smart, simple and efficient feature designed to support investors' needs. First Asset Distribution Reinvestment Plan (DRIP) will automatically reinvest First Asset ETF cash distributions into the First Asset ETF making the distribution. Contact your advisor for more information. All of the cash distributions indicated in the table above will be paid in cash unless the unitholder has enrolled in the applicable DRIP of the respective ETF. A copy of the Distribution Reinvestment Plan is available at www.firstasset.com.

First Asset - Smart SolutionsTM
First Asset is an independent investment firm focused on providing smart, low cost solutions that address the real-world investment needs of Canadians - capital appreciation, income generation and risk mitigation. Rooted in strong fundamentals, First Asset's smart solutions strive to deliver better risk-adjusted returns than the broad market while helping investors achieve their personal financial goals.

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.