/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./
TORONTO, June 18, 2019 /CNW/ - First Asset Investment Management Inc. ("First Asset") announces that, effective today, CI First Asset High Interest Savings ETF (the "ETF") has closed its initial offering and its units will commence trading on the Toronto Stock Exchange ("TSX") under the ticker symbol CSAV. The ETF's investment objective is to maximize monthly income for unitholders while preserving capital and liquidity by investing primarily in high interest deposit accounts.
"Many investors need to hold cash in their portfolios but end up sacrificing returns to achieve safety and liquidity," said Rohit Mehta, President of CI First Asset ETFs. "The CI First Asset High Interest Savings ETF has been designed to be a higher-yielding alternative to holding cash directly, while preserving the benefits of daily liquidity, convenience and flexibility."
The potential benefits for investors of CI First Asset High Interest Savings ETF include:
- Higher Income Potential – The ETF invests in high interest savings accounts with an attractive yield of approximately 2.10% to unitholders providing a compelling alternative to holding cash directly
- Low cost – Management fee of 0.14%
- Liquidity – No lock-up period and daily liquidity means that investors have efficient access to their cash savings.
The ETF's first distribution will be paid on June 28, 2019 to unitholders of record on June 27, 2019, and will consist of a prorated amount in respect of the period from June 18, 2019 to June 28, 2019.
First Asset, a CI Financial Company, is a is a leading provider of exchange-traded funds (ETFs) in Canada offering a comprehensive suite of ETF solutions. Rooted in strong fundamentals, the diverse and specialized lineup of First Asset ETFs strive to deliver better risk-adjusted returns than the broad market, while helping investors achieve their personal financial goals.
CI Investments – Trusted Partner in Wealth™
CI Investments is one of Canada's largest investment management companies. It offers a wide range of investment products and services, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $174.3 billion in fee-earning assets as of May 31, 2019.
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. The ETF is not guaranteed, its values changes frequently, and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in the ETF.
The ETF is managed by First Asset, a wholly-owned subsidiary of CI Financial Corp., which is listed on the Toronto Stock Exchange under the symbol "CIX". TMFirst Asset and its logo are trademarks of First Asset. ®CI FINANCIAL is a registered trademark of CI Investments Inc., used under license.
SOURCE First Asset ETFs
For further information: please call First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.