New Approach to ETF Special Distributions - First Asset ETFs Announce Revised Estimated 2014 Annual Special Distributions

News provided by

First Asset Exchange Traded Funds

Dec 17, 2014, 16:09 ET

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

TORONTO, Dec. 17, 2014 /CNW/ - First Asset Investment Management Inc. ("First Asset") today announced special distributions in its First Asset exchange traded funds ("First Asset ETFs") which include a 25% cash portion intended to assist unitholders in satisfying any potential tax liability.  The revised estimated annual special year-end distributions (the "Special Distributions") for the 2014 tax year for the First Asset ETFs are as noted in the table below.

"Advisors have told us that the tax liability associated with the annual special distributions in an ETF can require the selling of assets to generate cash.  We are pleased to deliver the distributions in a manner that offers our investors a convenient and unique solution for this real-world investment need.  Paying 25% of the special distribution in cash will cover most investors' potential tax liability." explains Rohit Mehta, Senior Vice President.

One-quarter of each Special Distribution will be paid in cash and the balance of each Special Distribution will be paid by the issuance of units of the applicable First Asset ETF, and immediately thereafter, the issued and outstanding capital of the First Asset ETF will be consolidated such that the number of issued and outstanding units of the First Asset ETF does not change.

The net asset value per unit of each First Asset ETF will decrease by an amount equal to the cash portion of the Special Distribution paid in respect of the First Asset ETF.  Investors holding their units outside registered plans will have taxable amounts to report and an increase in the adjusted cost base of their investment attributable to the portion of the Special Distribution paid in units. In all cases, the Special Distributions will be paid on or before January 6, 2015, to unitholders of record on December 30, 2014.  The ex-dividend date in each case is December 24, 2014.

Fund Name

TSX Trading
Symbol

Estimated

Special Distributions

per Fund Unit as at

December 15, 2014

In Cash

In Units

First Asset Morningstar Canada Dividend Target 30 Index ETF

 

DXM

$0.0383

$0.1148

DXM.A

$0.0428

$0.1283

First Asset Morningstar National Bank Québec Index ETF

 

QXM

$0.0845

$0.2535

QXM.A

$0.0820

$0.2460

First Asset Morningstar Canada Value Index ETF

 

FXM

$0.1145

$0.3435

FXM.A

$0.0993

$0.2978

First Asset Morningstar Canada Momentum Index ETF

 

WXM

$0.0293

$0.0878

WXM.A

$0.0043

$0.0128

First Asset Morningstar US Value Index ETF

 

 

 

XXM

$0.0000

$0.0000

XXM.A

$0.0000

$0.0000

XXM.B

$0.0638

$0.1913

XXM.D

$0.0608

$0.1823

First Asset Morningstar International Value Index ETF

 

 

 

VXM

$0.0235

$0.0705

VXM.A

$0.0433

$0.1298

VXM.B

$0.0000

$0.0000

VXM.D

$0.0000

$0.0000

First Asset Morningstar International Momentum Index ETF

 

 

 

ZXM

$0.0265

$0.0795

ZXM.A

$0.0610

$0.1830

ZXM.B

$0.0000

$0.0000

ZXM.D

$0.0000

$0.0000

First Asset MSCI Canada Low Risk Weighted ETF

 

RWC

$0.0528

$0.1583

RWC.A

$0.0535

$0.1605

First Asset MSCI USA Low Risk Weighted ETF

 

 

RWU

$0.0840

$0.2520

RWU.A

$0.0648

$0.1943

RWU.B

$0.0878

$0.2633

RWU.D

$0.0940

$0.2820

First Asset MSCI Europe Low Risk Weighted ETF

 

 

 

RWE

$0.1678

$0.5033

RWE.A

$0.2463

$0.7388

RWE.B

$0.0218

$0.0653

RWE.D

$0.0543

$0.1628

First Asset MSCI World Low Risk Weighted ETF

 

 

 

RWW

$0.0965

$0.2895

RWW.A

$0.1688

$0.5063

RWW.B

$0.1223

$0.3668

RWW.D

$0.1240

$0.3720



First Asset Can-60 Covered Call ETF

LXF

$0.0000

LXF.A

$0.0000

First Asset Can-Energy Covered Call ETF

OXF

$0.0000

OXF.A

$0.0000

First Asset Can-Financials Covered Call ETF

FXF

$0.0000

FXF.A

$0.0000

First Asset Can-Materials Covered Call ETF

MXF

$0.0000

MXF.A

$0.0000

First Asset Canadian Convertible Bond ETF

CXF

$0.0000

CXF.A

$0.0000

First Asset Tech Giants Covered Call ETF

TXF

$0.0000

TXF.A

$0.0000

First Asset Morningstar US Dividend Target 50 Index ETF

 

 

 

UXM

$0.0000

UXM.A

$0.0000

UXM.B

$0.0000

UXM.D

$0.0000

First Asset Morningstar US Momentum Index ETF

 

 

 

YXM

$0.0000

YXM.A

$0.0000

YXM.B

$0.0000

YXM.D

$0.0000

First Asset Hamilton Capital European Bank ETF

 

FHB

$0.0000

FHB.A

$0.0000

First Asset U.S. & Canada Lifeco Income ETF

 

FLI

$0.0000

FLI.A

$0.0000

First Asset Active Canadian Dividend ETF

 

FDV

$0.0000

FDV.A

$0.0000

First Asset Active Canadian REIT ETF

 

FRF

$0.0000

FRF.A

$0.0000

First Asset Government Bond Barbell Index ETF

 

GXF

$0.0000

GXF.A

$0.0000

First Asset Corporate Bond Barbell Index ETF

 

KXF

$0.0000

KXF.A

$0.0000

First Asset All Canada Bond Barbell Index ETF

 

AXF

$0.0000

AXF.A

$0.0000

First Asset Provincial Bond Index ETF

 

PXF

$0.0000

PXF.A

$0.0000

First Asset 1-5 Year Laddered Government Strip Bond Index ETF

 

BXF

$0.0000

BXF.A

$0.0000

First Asset Morningstar Emerging Markets Composite Bond Index ETF

 

EXM

$0.0000

EXM.A

$0.0000

These estimated amounts are for the Special Distributions only and do not include the ongoing monthly or quarterly cash distribution amounts which were announced today in a separate press release.  These estimates replace the previous estimates announced on December 5, 2014. 

Possible Changes to Special Distribution per Unit Amounts
The per unit amounts shown above in respect of units of any of the First Asset ETFs could change if there is an increase or decrease in the number of outstanding units of such First Asset ETF as a result of subscriptions or redemptions prior to the December 30 record date.  First Asset will issue a final press release on or about December 30, 2014 which will provide the final amounts.

The actual taxable amounts of all distributions (cash and reinvested) for 2014, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2015.

Supporting Investors' Needs
Stay in the market, minimize costs, and take advantage of a smart, simple and efficient feature designed to support investors' needs.  First Asset Distribution Reinvestment Plan (DRIP) will automatically reinvest First Asset ETF cash distributions into the First Asset ETF making the distribution.  Contact your advisor for more information.  All of the cash distributions indicated in the table above will be paid in cash unless the unitholder has enrolled in the applicable DRIP of the respective ETF. A copy of the Distribution Reinvestment Plan is available at www.firstasset.com.

This communication is intended for informational purposes only. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE: First Asset Exchange Traded Funds

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

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First Asset Exchange Traded Funds

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