First Asset Closed-End Funds Estimated Distributions for Year-End 2015

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TORONTO, Dec. 18, 2015 /CNW/ - First Asset announces the following estimated regular distributions ("Estimated Regular Distributions") and estimated special distributions (if any) ("Estimated Special Distributions") for the year ending December 31, 2015.  The final distribution amounts will be confirmed and announced shortly after the year-end and, prior to payment, once each Fund's year-end tax position is finalized.

Estimated Regular Distributions

The following Estimated Regular Distributions will be paid in cash on or before January 15, 2016, to holders of record on December 31, 2015.

Name

TSX Symbol

Estimated Regular

Distribution (per unit)

Utility Split Trust – Capital Units

UST.UN

$0.05

Utility Split Trust – Preferred Shares

UST.PR.B

$0.13125

Triax Diversified High-Yield Trust

TRH.UN

$0.07

First Asset Diversified Convertible Debenture Fund

DCD.UN

$0.30

Preferred Share Investment Trust

PSF.UN

$0.15

First Asset CanBanc Split Corp. – Preferred Shares

CBU.PR.A

$0.1625

Canadian Advantaged Convertibles Fund

ADC.UN

$0.15

Can-Financials Income Corp.

FIC

$0.15

North American Advantaged Convertibles Fund

NCD.UN

$0.125

CanBanc 8 Income Corp.

CBF

$0.15

First Asset Morningstar U.S. Consumer Defensive Index Fund

UCD.UN

$0.0612

Estimated Special Distributions

For the Fund listed below, the Estimated Special Distribution will be paid on or before January 15, 2016, to holders of record on December 31, 2015. The Estimated Special Distribution will be paid by the issuance of units of the Fund, and immediately thereafter, the issued and outstanding capital of the Fund will be consolidated such that the number of issued and outstanding units of the Fund does not change.

Name

TSX Symbol

Estimated Special

Distribution (per unit)

JFT Strategies Fund – Class A

JFS.UN

$0.89

JFT Strategies Fund – Class F

n/a

$1.09

For the Fund listed below, the Estimated Special Distribution will be paid in cash on December 31, 2015, to the Class A Shareholders of record on December 31, 2015 and, as a result, the net asset value per unit of the Fund will decrease by an amount equal to the Special Distribution.

Name

TSX Symbol

Estimated Special

Distribution (per unit)

First Asset CanBanc Split Corp. – Class A Shares

CBU

$0.16

The actual taxable amounts of all distributions for 2015, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2016.

First Asset – Smart Solutions®

First Asset is an 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. Commissions, management fees and expenses all may be associated with investments funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE First Asset

For further information: Investor Relations, First Asset at 416-642-1289 or 18776421289 or visit www.firstasset.com.

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