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TORONTO, July 21, 2015 /CNW/ - First Asset Canadian REIT ETF (the "First Asset ETF") (TSX: RIT; RIT.A) today announces that it has completed the initial offering of its advisor units (the "Advisor Units") pursuant to a final prospectus dated July 10, 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 symbolTSX: RIT.A. Common class units of the First Asset ETF (the "Common Units") commenced trading on the TSX under the symbolTSX: RIT on July 14, 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.
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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.
This communication is intended for informational purposes only. This offering is made only by prospectus. The prospectus contains important detailed information about the 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 ETF. The ETF is managed by First Asset Investment Management Inc.
SOURCE First Asset
For further information: please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.