TORONTO, July 30, 2018 - First Asset Morningstar U.S. Consumer Defensive Index Fund (the "Fund") (TSX: UCD.UN) announces that, at an adjourned special meeting of the unitholders of the Fund ("Unitholders") held today (the "Meeting"), Unitholders approved the merger (the "Merger") of the Fund with First Asset MSCI USA Low Risk Weighted ETF (TSX: RWU).
As approved at the Meeting, in order to provide those Unitholders who do not wish to participate in the Merger with an opportunity to redeem their units at net asset value, the Fund's annual redemption date for 2018 will be accelerated from September 27, 2018 to August 24, 2018. Unitholders who wish to exercise this accelerated redemption right must give notice to their broker or other intermediary prior to 5:00 p.m. on Wednesday, August 15, 2018 that they wish to exercise this right. Such Unitholders should inform their broker or other intermediary sufficiently in advance of August 15, 2018 of their desire to exercise this right as their broker or other intermediary may have an earlier cut-off deadline.
The implementation of the Merger is subject to certain third party and regulatory approvals. The Manager currently anticipates that the Merger will be implemented on or about September 14, 2018.
Unitholders are not required to take any action in connection with the Merger unless they wish to redeem their units as described above.
For further information, please call First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
This communication is intended for informational purposes only. You will usually pay brokerage fees to your dealer if you purchase or sell units of this investment fund on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "anticipates", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of First Asset regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. First Asset believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, First Asset can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. First Asset undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.
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