/NOT FOR DISSEMINATION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA./
TORONTO, July 30, 2018 /CNW/ - First Asset Morningstar
U.S. Consumer Defensive Index Fund (the "Fund") (TSX:
UCD.UN) announces that, at an adjourned special meeting of the
unitholders of the Fund ("Unitholders") held today (the
"Meeting"), Unitholders approved the merger (the
"Merger") of the Fund with First Asset MSCI USA Low Risk Weighted ETF (TSX:
RWU).
As approved at the Meeting, in order to provide those
Unitholders who do not wish to participate in the Merger with an
opportunity to redeem their units at net asset value, the Fund's
annual redemption date for 2018 will be accelerated from
September 27, 2018 to August 24, 2018. Unitholders who wish to
exercise this accelerated redemption right must give notice to
their broker or other intermediary prior to 5:00 p.m. on
Wednesday, August 15, 2018 that they
wish to exercise this right. Such Unitholders should inform
their broker or other intermediary sufficiently in advance of
August 15, 2018 of their desire to
exercise this right as their broker or other intermediary may have
an earlier cut-off deadline.
The implementation of the Merger is subject to certain third
party and regulatory approvals. The Manager currently
anticipates that the Merger will be implemented on or about
September 14, 2018.
Unitholders are not required to take any action in connection
with the Merger unless they wish to redeem their units as described
above.
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.
This communication is intended for informational purposes
only. You will usually pay brokerage fees to your dealer if
you purchase or sell units of this investment fund on the TSX. If
the units are purchased or sold on the TSX, investors may pay more
than the current net asset value when buying units of the
investment fund and may receive less than the current net asset
value when selling them. There are ongoing fees and expenses
associated with owning units of an investment fund. An investment
fund must prepare disclosure documents that contain key information
about the fund. You can find more detailed information about the
fund in these documents. Investment funds are not guaranteed, their
values change frequently and past performance may not be
repeated.
This press release contains forward-looking statements and
information within the meaning of applicable securities
legislation. Forward-looking statements can be identified by the
expressions "seeks", "expects", "believes", "anticipates",
"estimates", "will", "target" and similar expressions. The
forward-looking statements are not historical facts but reflect the
current expectations of First Asset regarding future results or
events and are based on information currently available to them.
Certain material factors and assumptions were applied in providing
these forward-looking statements. All forward-looking statements in
this press release are qualified by these cautionary statements.
First Asset believes that the expectations reflected in
forward-looking statements are based upon reasonable assumptions;
however, First Asset can give no assurance that the actual results
or developments will be realized. These forward-looking statements
are subject to a number of risks and uncertainties that could cause
actual results or events to differ materially from current
expectations. Readers, therefore, should not place undue reliance
on any such forward-looking statements. Further, a forward-looking
statement speaks only as of the date on which such statement is
made. First Asset undertakes no obligation to publicly update any
such statement or to reflect new information or the occurrence of
future events or circumstances except as required by securities
laws. These forward-looking statements are made as of the date of
this press release.
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