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First Asset Investment Management to terminate seven ETFs


First Asset Investment Management is to terminate seven of its exchange traded fund due to either the current size of the ETF and/or the existence of a suitable First Asset alternative.  

The funds, which will terminate on or about 31 August, 2015 are:

First Asset Can-Financials Covered Call ETF
First Asset Can-60 Covered Call ETF
First Asset Active Canadian REIT ETF
First Asset All Canada Bond Barbell Index ETF
First Asset Government Bond Barbell Index ETF
First Asset Corporate Bond Barbell Index ETF
First Asset Emerging Markets Composite Bond Index ETF and its reference fund, First Asset Emerging Markets Bond Fund

The Manager will request the de-listing of units of the funds (other than First Asset Emerging Markets Bond Fund which is not listed) from the Toronto Stock Exchange (TSX) on or about 25 August, 2015. Until such date, units of the Funds (other than First Asset Emerging Markets Bond Fund) will continue to be listed on the TSX.  

As soon as practicable following the Termination Date, the assets of each Fund will be liquidated and the proceeds therefrom distributed, after paying or providing for all liabilities and obligations of such Fund, pro rata among unitholders of record of such Fund on the Termination Date. Following the termination and distributions described above with respect to a Fund, such Fund will be dissolved. First Asset will issue an additional press release on or about the Termination Date confirming final details of the terminations.

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