/NOT FOR DISSEMINATION TO U.S. NEWSWIRE
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UNITED STATES OF AMERICA./
TORONTO, Jan. 16, 2015 /CNW/ - First Asset Active
Utility & Infrastructure ETF (the "First Asset ETF")
(TSX: FAI) announces that it has completed the conversion from a
closed-end fund (First Asset Pipes & Power Income Fund) to an
exchange-traded fund, as approved by unitholders at the special
meeting held on December 18, 2014.
Units of First Asset Pipes & Power Income Fund have been
re-designated as common units of the First Asset ETF which trade on
the Toronto Stock Exchange under ticker "FAI".
As the only actively managed ETF of its kind in the industry,
First Asset Active Utility & Infrastructure ETF represents an
attractive risk-adjusted opportunity to earn stable dividends from
utility companies and participate in the build out of the North
American energy infrastructure sector, while limiting the
volatility that typically accompanies a more direct relationship
with the underlying commodities.
"We are excited to offer a solution that will allow advisors
to deliver a liquid and low cost approach to investing in utilities
and in the growing North American energy infrastructure
sector. First Asset Active Utility & Infrastructure ETF is
focused on issuers with long-life assets that produce stable and
predictable cash flows with a mandate that allows the necessary
flexibility and reach to capitalize on the changing energy
environment."
Barry Gordon,
President and CEO, First Asset Investment Management Inc.
First Asset Active Utility & Infrastructure ETF's investment
objectives are to provide holders of units with monthly cash
distributions and the opportunity for capital appreciation from an
actively managed portfolio comprised primarily of equity securities
of Utility & Infrastructure Issuers. "Utility and
Infrastructure Issuers" are typically issuers that derive their
revenue from the distribution, wholesale or retail, of oil, natural
gas or other refined products typically pursuant to fixed rate
transportation tolls or from power generation and sale including
hydroelectric, gas-fired, coal-fired and wind, among others,
typically pursuant to long term fixed price contracts; service and
support these industries; or are otherwise in the energy
infrastructure industry.
In addition to the common units, a new class of advisor units of
First Asset Active Utility & Infrastructure ETF has been
created. The Toronto Stock Exchange ("TSX") has
conditionally approved the listing of the advisor units under the
symbol FAI.A, subject to the fulfillment of the TSX
requirements.
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.
This communication is intended for informational purposes only.
This offering is made only by prospectus. The prospectus
contains important detailed information about the ETF and its
units. A copy of the prospectus may be obtained from your
investment advisor, First Asset or at www.sedar.com. Investors
should read the prospectus before making an investment decision.
Commissions, trailing fees, management fees and expenses all may be
associated with investments in the ETF. The ETF is managed by First
Asset Investment Management Inc.
SOURCE First Asset Exchange Traded Funds