Bringing you live news and features since 2006 

First Asset Canadian REIT Income Fund to hold meeting to approve conversion to ETF

RELATED TOPICS​

First Asset Canadian REIT Income Fund is to hold a special meeting of unitholders on Friday, 19 June, 2015 when unitholders will be asked to approve the conversion of the fund for a closed-end fund to an exchange traded fund (ETF).

If required, an adjourned meeting will be held on Tuesday, 30 June, 2015. 

Uniholders will also be asked to approve changes to the Fund's investment objectives, strategies and restrictions and certain other provisions contained in the Fund's declaration of trust related to the conversion.

First Asset Investment Management Inc, the manager of the Fund, believes that the conversion will benefit existing unitholders through greater market liquidity and trading efficiency, potential benefits from economies of scale through the continuous offering of units, and a reduction in the management fee to 0.75% from 1.05% of NAV per unit.   If approved, the manager anticipates implementing the conversion in July, 2015, subject to obtaining a receipt for the final prospectus and any required third party or regulatory approvals. 

The details of the meeting and the manager's proposals are further described in a management information circular to be mailed to unitholders on or about 29 May, 2015.

Latest News

BlackRock's iShares, an undisputed leader among European ETF issuers, pushed further ahead in Q1 with EUR173 billion in trades, triple..
European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..

Related Articles

etf active trading
Latest Morningstar data shows actively managed ETFs’ share of the US ETF market rose to 8.5 per cent at the...
Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by