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TORONTO, Jan. 28, 2016 /CNW/ - Further to its announcement on January 5, 2016, First Asset Hamilton Capital European Bank Fund (the "Fund") (TSX: EB.UN) will hold a special meeting of unitholders at 10:00 AM EDT on March 15, 2016, to seek unitholders' approval to convert the Fund from a closed-end fund to an actively managed exchange traded fund ("ETF"). If required, an adjourned meeting will be held at 10:00 AM EDT on March 28, 2016.
In connection with the conversion, unitholders will also be asked to approve amendments to the Fund's investment objectives and strategies in order to permit the Fund to invest in securities of global financial issuers thereby broadening the scope of eligible investments available to the Fund, both geographically and by type of financial institutions.
Change of Portfolio Manager
First Asset Investment Management Inc. (the "Manager") is pleased to announce that Signature Global Asset Management, a division of CI Investments Inc. and an affiliate of the Manager, will assume the portfolio management responsibilities no later than the date of completion of the Fund's conversion. Signature Global Asset Management manages core equity, balanced and income-oriented funds, and is CI Investments Inc.'s largest in-house portfolio management group.
John Hadwen, Vice President, Portfolio Management and Portfolio Manager, will assume responsibilities for the Fund at the time of its conversion to an ETF. Mr. Hadwen specializes in the global financial services sector and is responsible for stock selection in the sector for Signature Funds, overseeing approximately $5 billion in assets under management. Mr. Hadwen holds an Honours BA and the Chartered Financial Analyst designation.
The details of the meeting and First Asset's proposal will be further described in a management information circular to be mailed to unitholders of each Fund on or about February 23, 2016.
First Asset – Smart SolutionsTM
First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. 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.
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.
SOURCE First Asset Close-End Funds
For further information: please call Investor Relations, First Asset at 416-642-1289 or 1‐877‐642‐1289 or visit www.firstasset.com.