First Asset Active Utility & Infrastructure ETF (the “First Asset ETF”) (TSX: FAI) announces that it has completed the conversion from a closed-end fund
First Asset Pipes & Power Income Fund has completed its conversion from a closed-end fund to an exchange-traded fund (ETF), the First Asset Active Utility & Infrastructure ETF.
Units of First Asset Pipes & Power Income Fund have been re-designated as common units of the First Asset ETF which trade on the Toronto Stock Exchange under ticker “FAI”.
As the only actively managed ETF of its kind in the industry, First Asset Active Utility & Infrastructure ETF represents an attractive risk-adjusted opportunity to earn stable dividends from utility companies and participate in the build out of the North American energy infrastructure sector, while limiting the volatility that typically accompanies a more direct relationship with the underlying commodities.
“We are excited to offer a solution that will allow advisors to deliver a liquid and low cost approach to investing in utilities and in the growing North American energy infrastructure sector,” says Barry Gordon, President and CEO, First Asset Investment Management Inc. ”First Asset Active Utility & Infrastructure ETF is focused on issuers with long-life assets that produce stable and predictable cash flows with a mandate that allows the necessary flexibility and reach to capitalise on the changing energy environment.”
