TORONTO, August 22, 2016 – First Asset Investment Management Inc. ("First Asset") is pleased to announce that First Asset Investment Grade Bond ETF (the "Fund") will commence trading today on the Toronto Stock Exchange as an exchange-traded fund (an "ETF") under the symbol FIG.
Marret Asset Management Inc. ("Marret") will continue to provide portfolio management services to the Fund and Paul Sandhu, Vice-President, Portfolio Manager at Marret will continue as lead portfolio manager.
The investment objectives of the ETF are to provide unitholders with monthly cash distributions and to maximize total returns for unitholders consisting primarily of monthly distributions, while reducing risk and preserving capital. Under normal market conditions, the ETF will be primarily invested in investment-grade bonds and other investment-grade debt securities.
"The conversion of this Fund into an ETF is exciting for us and our investors," Mr. Sandhu said. "It combines the benefits of active management provided by our credit research team, including access and execution, with the benefits of the ETF structure, including transparency, tax efficiency, liquidity and low cost."
As previously announced by First Asset and Marret, the conversion of the Fund from the Marret Investment Grade Bond Fund was approved at a special meeting of unitholders held on May 18, 2016, as more particularly described in the management information circular mailed April 18, 2016. First Asset and Marret are affiliated companies.
About Marret Asset Management Inc.
Marret Asset Management Inc. is a credit fixed-income manager. The firm invests in high-yield and investment-grade corporate debt assets for institutional and retail clients. The experienced team of investment professionals is led by Barry Allan, President and Chief Investment Officer. He founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank, and has over 30 years of experience in credit and fixed-income markets.
First Asset - Smart Solutions
First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. 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:
Marret Investor Services, 416-214-5800 or email@example.com
First Asset Investor Relations, 416-642-1289 or 1-877-642-1289 or www.firstasset.com
Please read the prospectus before investing. Important information about the Fund is contained in its prospectus. Individuals should seek the advice of professionals, as appropriate, prior to investing. Exchange Traded Funds (“ETFs”) are not guaranteed, their values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in ETFs. The Fund is managed by First Asset Investment Management Inc., a subsidiary of First Asset Capital Corp. (FA Capital). TMFirst Asset and its logo are trademarks of FA Capital., a wholly-owned subsidiary of CI Financial Corp. which is listed on the Toronto Stock Exchange under the symbol “CIX”. ®CI Financial is a registered trademark of CI Investments Inc.
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