First Asset Diversified Convertible Debenture Fund Announces Normal Course Issuer Bid For Units

/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./

TORONTO, March 16, 2015 /CNW/ - First Asset Diversified Convertible Debenture Fund (the "Fund") (TSX: "DCD.UN") announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").

Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 367,003 Units of the Fund, representing approximately 10% of the public float, being 3,670,039 Units as of the close of business of March 9, 2015. The Fund will not purchase in any given 30-day period, in the aggregate, more than 87,118 Units, representing approximately 2% of the issued and outstanding Units, being 4,355,910 Units as of the close of business of March 9, 2015. Purchases of Units under the NCIB may commence on March 18, 2015. First Asset Investment Management Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's funds. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be held for resale.  The NCIB will expire on March 17, 2016. 

On March 14, 2014, the Fund announced that it was making a Normal Course Issuer Bid, which commenced March 18, 2014, to purchase up to 433,341 Units through the facilities of the TSX. The Fund repurchased 2,900 Units at a weighted average price of $15.75 per unit under the bid, which expires on March 17, 2015. 

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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.

SOURCE First Asset

For further information: Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.

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