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First Asset Announces Risk Rating Changes for 2 Mutual Funds

TORONTO, May 08, 2018 - First Asset Investment Management Inc. ("First Asset") announced today that the risk ratings of certain of its mutual funds have changed as described in the table below. The changes will be effective immediately. The changes result from the application of an industry wide updated risk classification methodology introduced by the Canadian Securities Administrators to determine the risk level of mutual funds, and is not a result of any changes to the investment objectives, strategies or management of the funds.

Fund New Risk Rating Prior Risk Rating
First Asset Canadian Convertible Bond Fund Low to Medium Medium
First Asset Utility Plus Fund Low to Medium Medium

The changes to the Funds' risk ratings are reflected in their prospectus and each of their respective Fund Facts documents, which can be found on our website at www.firstasset.com or at www.sedar.com.

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

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the funds. Please read the prospectus before investing. Investments in the funds are not guaranteed; their values change frequently and past performance may not be repeated.

TMFirst Asset and its logo are trademarks of First Asset Capital Corp., 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., used under license.

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