Confirmed 2017 Annual Special Distributions For First Asset ETFs

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

TORONTO, Dec. 29, 2017 /CNW/ - First Asset Investment Management Inc. ("First Asset") announces the confirmed amounts of the annual, special, year-end distributions (the "Special Distributions") for the 2017 tax year for its First Asset exchange traded funds ("First Asset ETFs"), as set out in the table below.

Each of the First Asset ETFs is required to distribute any net income and capital gains that it has earned in the year.  The Special Distributions will generally consist of capital gains and/or any excess net income at year end.  The Special Distributions will not be paid in cash, but will be reinvested and the resulting units immediately consolidated so that the number of units held by each investor will not change.  Investors holding their units outside registered plans will have taxable amounts to report and an increase in the adjusted cost base of their investment. In all cases, the Special Distributions will be paid on or about December 29, 2017, to unitholders of record on December 28, 2017.  The ex-dividend date in each case is December 27, 2017.

These confirmed amounts are for the Special Distributions only and do not include the ongoing regular monthly or quarterly cash distribution amounts which were announced on December 15, 2017, in a separate press release.  These confirmed Special Distribution amounts replace the previous estimates announced on December 8, 2017. 

The actual taxable amounts of all distributions for the First Asset ETFs for 2017, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2018.

First Asset – Smart Solutions™
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.

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.  The forward-looking statements are not historical facts but reflect the current expectations of First Asset 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. First Asset believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, First Asset 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. 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. First Asset 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. 

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SOURCE First Asset Exchange Traded Funds