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First Asset Canadian REIT Income Fund to convert to actively managed ETF


First Asset Investment Management’s First Asset Canadian REIT Income Fund is to convert from a closed-end fund to an actively managed exchange traded fund.

Lee Goldman will continue to manage the Fund following the ETF Conversion. 
"The Fund's outstanding 10 year track record is a testament to Mr Goldman's expertise in selecting the right REITs at the right time,” says Barry Gordon, president and CEO of First Asset Management. “In addition, the ETF Conversion will result in lower fees, greater transparency and improved liquidity that the ETF structure offers to investors.”
The implementation of the ETF Conversion is subject to certain third party and regulatory approvals.  First Asset currently anticipates that the ETF Conversion will be implemented in mid-July, 2015. 

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