Communiqués de presse

First Asset Updates Timing of Change of Portfolio Manager

TORONTO, September 12, 2016 - Further to the August 15, 2016, press release announcing the merger of Preferred Share Investment Trust (the "Fund") (TSX: PSF.UN) into First Asset Preferred Share ETF (the "ETF") (TSX: FPR), First Asset Investment Management Inc., the manager of the Fund and the ETF, announces that in anticipation of the completion of the merger in October, Signature Global Asset Management ("Signature"), a division of CI Investments Inc., will assume the portfolio management responsibilities for the Fund effective Tuesday, September 13, 2016. John Shaw, Vice-President, Portfolio Manager, will be responsible for security selection for the Fund. Mr. Shaw is also responsible for security selection for the ETF.

About Signature Global Asset Management
Signature Global Asset Management, a division of CI Investments Inc. led by Chief Investment Officer Eric Bushell, manages over $50 billion in core equity, balanced and income-oriented funds, and is CI Investments' largest in-house portfolio management group.

Mr. Shaw leads the investment grade bond sector team for Signature and has managed its preferred share portfolio for over 10 years. Mr. Shaw has extensive experience in international credit analysis, trading and portfolio management. He holds a BA in Economics from Queen's University and the Chartered Financial Analyst designation.

For further information, please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit

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