First Asset Updates Timing of Change of Portfolio Manager

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TORONTO, Sept. 12, 2016 /CNW/ - Further to the August 15, 2016 press release announcing the merger of Preferred Share Investment Trust (the "Fund") (TSX: PSF.UN) into First Asset Preferred Share ETF (the "ETF") (TSX: FPR), First Asset Investment Management Inc., the manager of the Fund and the ETF, announces that in anticipation of the completion of the merger in October, Signature Global Asset Management ("Signature"), a division of CI Investments Inc., will assume the portfolio management responsibilities for the Fund effective Tuesday, September 13, 2016. John Shaw, Vice-President, Portfolio Manager, will be responsible for security selection for the Fund. Mr. Shaw is also responsible for security selection for the ETF.

About Signature Global Asset Management
Signature Global Asset Management, a division of CI Investments Inc. led by Chief Investment Officer Eric Bushell, manages over $50 billion in core equity, balanced and income-oriented funds, and is CI Investments' largest in-house portfolio management group.

Mr. Shaw leads the investment grade bond sector team for Signature and has managed its preferred share portfolio for over 10 years. Mr. Shaw has extensive experience in international credit analysis, trading and portfolio management. He holds a BA in Economics from Queen's University and the Chartered Financial Analyst designation.

First Asset – Smart Solutions^TM
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.

^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

please call Investor Relations, First Asset at 416-642-1289 or 1‐877‐642‐1289 or visit www.firstasset.com.