The following is from First Asset...
TORONTO, ONTARIO--(Marketwire - June 5, 2012) - First Asset announced today that it has consolidated the branding of its three product lines - exchange traded funds, mutual funds and closed-end funds - under the existing "First Asset" umbrella, which to date referred only to its closed-end fund division. Specifically, its mutual fund division, Criterion Mutual Funds, will now be called First Asset Mutual Funds and its ETF division, XTF Capital, will now be called First Asset Exchange Traded Funds.
The name changes reflect a growth story that has seen First Asset and its divisions grow over 400 per cent in three years - from $600 million in assets in 2009 to $2.6 billion in 2012.
"Consolidating the three investment product lines under the First Asset brand makes it simpler for investment advisors and their clients and more accurately expresses the depth of investment offerings of the company," said Barry Gordon, President and CEO of First Asset. "The resources of the entire organization are brought to bear with each investment product in order to achieve a common goal - better risk-adjusted returns for investors."
A new website (www.firstasset.com) launches today to provide better access to timely information in one central location.
TABLE OF NEW FUND NAMES
In connection with the names changes, certain funds have been renamed effective June 4, 2012, as set out in the table below. The name changes do not affect the tickers for those funds that are listed. In either case, Unitholders are not required to take any action in relation to the name changes.
|FIRST ASSET ETFs|
|Old Fund Name||New Fund Name||Tickers|
|Can-60 Covered Call ETF||First Asset Can-60 Covered Call ETF||LXF; LXF.A|
|Can-Financials Covered Call ETF||First Asset Can-Financials Covered Call ETF||FXF; FXF.A|
|Can-Energy Covered Call ETF||First Asset Can-Energy Covered Call ETF||OXF; OXF.A|
|Can-Materials Covered Call ETF||First Asset Can-Materials Covered Call ETF||MXF; MXF.A|
|Canadian Convertible Liquid Universe ETF||First Asset Canadian Convertible Bond ETF||CXF; CXF.A|
|Tech Giants Covered Call ETF||First Asset Tech Giants Covered Call ETF||TXF; TXF.A|
|XTF Morningstar Canada Dividend Target 30 Index ETF||First Asset Morningstar Canada Dividend Target 30 Index ETF||DXM; DXM.A|
|XTF Morningstar US Dividend Target 50 Index ETF||First Asset Morningstar US Dividend Target 50 Index ETF||UXM; UXM.A|
|XTF Morningstar National Bank Quebec Index ETF||First Asset Morningstar National Bank Quebec Index ETF||QXM; QXM.A|
|XTF Morningstar Canada Momentum Index ETF||First Asset Morningstar Canada Momentum Index ETF||WXM; WXM.A|
|XTF Morningstar Canada Value Index ETF||First Asset Morningstar Canada Value Index ETF||FXM; FXM.A|
|XTF Morningstar Canada Liquid Bond Index ETF||First Asset Morningstar Canada Liquid Bond Index ETF||Available soon|
|XTF Morningstar Emerging Markets Composite Bond Index ETF||First Asset Morningstar Emerging Markets Composite Bond Index ETF||Available soon|
|FIRST ASSET MUTUAL FUNDS|
|Old Fund Name||New Fund Name||Tickers|
|Criterion Global Dividend Fund||First Asset Global Dividend Fund||n/a|
|Canadian Convertible Bond Fund||First Asset Canadian Convertible Bond Fund||n/a|
|Criterion REIT Income Fund||First Asset REIT Income Fund||n/a|
|Criterion Utility Plus Fund||First Asset Utility Plus Fund||n/a|
|Criterion Diversified Commodities Currency Hedged Fund||First Asset Diversified Commodities Currency Hedged Fund||n/a|
|TDK Resource Fund Inc.||First Asset Resource Fund Inc.||n/a|
|Canadian Convertible Debenture Fund||First Asset Canadian Convertible Debenture Fund||n/a|
|Canadian Energy Convertible Debenture Fund||First Asset Canadian Energy Convertible Debenture Fund||n/a|
|Existing Fund Names||Tickers|
|First Asset Diversified Convertible Debenture Fund||DCD.UN|
|Canadian Advantaged Convertibles Fund||ADC.UN|
|North American Advantaged Convertibles Fund||NCD.UN|
|First Asset Pipes & Power Income Fund||EWP.UN|
|Preferred Share Investment Trust||PSF.UN|
|CanBanc Income Corp.||CIC|
|Can-60 Income Corp.||CSY|
|Can-Financials Income Corp.||FIC|
|First Asset REIT Income Fund||RIT.UN|
|Canadian REIT Income Fund||RIU.UN|
|First Asset Yield Opportunity Trust||FAY.UN|
|First Asset Energy & Resource Fund||TRF.UN|
|Utility Split Trust||UST.UN and UST.PR.B|
|First Asset CanBanc Split Corp.||CBU and CBU.PR.A|
|First Asset Canadian Dividend Opportunity Fund||n/a|
|First Asset Canadian Dividend Opportunity Fund II||DVF.UN|