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TORONTO, Nov. 12, 2015 /CNW/ - First Asset Core Canadian Equity Income ETF (TSX: CSY) announces that it has completed the previously announced conversion from a closed-end fund (Can-60 Income Corp.) to an exchange-traded fund. Today, outstanding equity shares of Can-60 Income Corp. have been consolidated on a 1:3 basis and re-designated as ETF Shares of First Asset Core Canadian Equity Income ETF, which trade on the Toronto Stock Exchange under ticker "CSY".
"First Asset continues to lead in its development of high quality ETFs that employ smart beta methodologies, particularly multi-factor investing. Our Core ETFs have proven popular with advisors who are committed to including leading ETF solutions in their client portfolios."
Barry Gordon, President and CEO, First Asset Investment Management Inc.
Multi-Factor Investment Strategy: Smarter Beta
First Asset Core Canadian Equity Income ETF will use a multi-factor portfolio optimization strategy, as is applied to other First Asset Core ETFs. First Asset Factor Based ETFs focus on factors including momentum, value, size, and volatility, which are empirically proven to tilt portfolios to capture market premiums with the goal of delivering better risk-adjusted returns over the long term. By combining these well-known factors, First Asset Core Canadian Equity Income ETF is designed to provide investors with long term capital appreciation with an attractive risk adjusted rate of return and aims to gain exposure to a well-diversified portfolio with strong fundamentals and attractive levels of dividend income.
First Asset Core Canadian Equity Income ETF may invest directly in equity securities and/or indirectly in such securities through other ETFs, including those managed by First Asset.
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.
Please read the prospectus before investing. Important information about the ETF is contained in its prospectus. Individuals should seek the advice of professionals, as appropriate, prior to investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in ETFs. The ETF is managed by First Asset Investment Management Inc.
SOURCE First Asset
For further information: Investor Relations, First Asset Investment Management Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.