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TORONTO, Jan. 23, 2015 /CNW/ - First Asset Active Utility
& Infrastructure ETF (the "First Asset ETF")
(TSX: FAI; FAI.A) today announces that it has completed the initial
offering of its advisor units (the "Advisor Units") pursuant
to a final prospectus dated January 12,
2015 filed with the securities regulatory authorities of all
of the Canadian provinces and territories in connection with the
conversion of the First Asset ETF from a closed-end fund to an
exchange traded fund.
The Advisor Units will begin trading on the Toronto Stock
Exchange (TSX) today under the symbol TSX:FAI.A.
Common class units of the First Asset ETF (the "Common
Units") commenced trading on the TSX under the symbol TSX:FAI
on January 16, 2015. The only
difference between the Common Units and the Advisor Units is the
management fee payable by the First Asset ETF due to the service
fee payable by the Manager to registered dealers in respect of the
Advisor Units.
Advisor Units would generally be suitable only for investors who
have retained an advisor to advise them regarding their purchase
and who do not have a fee based account. Investors purchasing
through self-directed brokerage accounts would most likely consider
the Common Units. Prospective Unitholders are encouraged to consult
their dealers to determine which class of Units are most
appropriate for their investment.
First Asset - Smart
Solutions™
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 First Asset 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 First Asset ETF. The First Asset
ETF is managed by First Asset Investment Management Inc.
SOURCE First Asset