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TSX: FHI and FHI.B
TORONTO, June 12, 2018 /CNW/ - First Asset Investment Management Inc. ("First Asset") is pleased to announce that First Asset Health Care Giants Covered Call ETF (the "ETF") has closed the initial offering of its units (the "Units") and the Units will commence trading today on the Toronto Stock Exchange ("TSX") under the ticker symbols FHI (the "Hedged Units") and FHI.B (the "Unhedged Units").
The ETF's investment objectives are to provide holders, through an actively managed portfolio, with (i) regular cash distributions, (ii) the opportunity for capital appreciation by investing on an equal weight basis in a portfolio of securities of the 20 health care companies, as determined by First Asset in its discretion, with the largest market capitalization listed on a North American stock exchange, and (iii) lower overall volatility of returns on the portfolio than would be experienced by owning a portfolio of securities of such issuers directly, by employing a covered call option writing program.
Unlike the Hedged Units, which hedge at least 90% of the value of the foreign currency exposure, if any, attributable to the Hedged Units back to the Canadian dollar, the foreign currency exposure attributable to the Unhedged Units will not be hedged back to the Canadian dollar.
First Asset – Smart SolutionsTM
First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. 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. The ETF is not guaranteed, its values changes frequently and past performance may not be repeated. Commissions, management fees and expenses all may be associated with an investment in the ETF.
The ETF is managed by First Asset, a subsidiary of First Asset Capital Corp. (FA Capital). TMFirst Asset and its logo are trademarks of First Asset Capital Corp., a wholly-owned subsidiary of CI Financial Corp. which is listed on the Toronto Stock Exchange under the symbol "CIX". ®CI FINANCIAL is a registered trademark of CI Investments Inc., used under license.
SOURCE First Asset
For further information: please call First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.