Marret Asset Management and First Asset Investment Management confirm details for conversion of Marret Investment Grade Bond Fund

/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES OF AMERICA/

TORONTO, Aug. 2, 2016 /CNW/ - Marret Asset Management Inc. ("Marret") and First Asset Investment Management Inc. ("First Asset") announced a final prospectus dated July 28, 2016 has been filed with the securities regulatory authorities of all of the provinces and territories of Canada in connection with the conversion of Marret Investment Grade Bond Fund (the "Fund") (TSX: MIG.UN) from a closed-end fund to an actively managed exchange-traded fund (the "ETF Conversion"). The Conversion was approved by the unitholders at a special meeting held on May 18, 2016.

The Fund will convert into an exchange traded fund ("ETF") on or about August 22, 2016. Unitholders are not required to take any action in connection with the ETF Conversion.

In connection with the ETF Conversion:

• The Fund's name will change to "First Asset Investment Grade Bond ETF" and its ticker symbol will change to FIG.
  
  
• The Fund will modify its investment objectives, strategies and restrictions, fee structure and make certain other organizational changes in connection with the ETF Conversion.
  
  
• Marret Asset Management Inc. will continue to provide portfolio management services to the Fund. First Asset Investment Management Inc., an affiliate of Marret, will assume responsibility for the day-to-day administration and management of the Fund.

Further details of the ETF Conversion are described in the management information circular that was mailed to unitholders on April 18, 2016.

About Marret Asset Management Inc.

Marret Asset Management Inc. specializes in fixed income and particularly in high-yield debt strategies. The experienced team of investment professionals is led by Barry Allan, President and Chief Investment Officer. He founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank, and has over 30 years of experience in credit and fixed-income markets.

About First Asset Investment Management Inc.

First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. First Asset is the investment fund manager, portfolio advisor and trustee for 36 TSX-listed exchange-traded funds.

This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Marret and the managers of the underlying portfolios regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Marret believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Marret can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors" in the prospectus. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Marret undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release. First Asset Funds are managed by First Asset Investment Management Inc., a subsidiary of First Asset Capital Corp. (FA Capital). ™First Asset and its logo are trademarks of FA Capital, 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 Investment Inc., used under license.

SOURCE Marret Asset Management Inc.

Marret Investor Services, 416-214-5800 or [email protected]; First Asset Investor Relations, 416-642-1289 or 1-877-642-1289 or www.firstasset.com