First Asset Active Credit ETF Listing of Advisor Units

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

TORONTO, Jan. 23, 2015 /CNW/ - First Asset Active Credit ETF (the "First Asset ETF") (TSX: FAO; FAO.A; FAO.U; FAO.V) today announces that it has completed the initial offering of its advisor units (the "Advisor Units") pursuant to a final prospectus dated January 12, 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, available in both Canadian and U.S. dollar denominated versions will begin trading on the Toronto Stock Exchange (TSX) today under the symbols TSX:FAO.A (C$) and TSX:FAO.V (U.S.$).  Canadian and U.S. dollar denominated common class units (the "Common Units") of the First Asset ETF (the "Common Units") commenced trading on the TSX under the symbols TSX:FAO (C$) and TSX:FAO.U (U.S.$) on January 19, 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. 

It is intended that at all times at least 90% of the value of the foreign currency exposure attributable to the Common Units and the Advisor Units, other than the U.S. $ versions, will be hedged back to the Canadian dollar. Foreign currency exposure attributable to the US$ Common Units and the US$ Advisor Units will not be hedged back to the Canadian dollar. 

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.

First Asset - Smart Solutions^TM
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 First Asset 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 First Asset ETF. The First Asset ETF is managed by First Asset Investment Management Inc.

SOURCE First Asset Exchange Traded Funds

Copyright 2015 Canada NewsWire