First Asset to close Cambridge-partnered ETFs

Sep 21st, 2018 | By | Category: Equities

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First Asset Investment Management has announced it is to close its First Asset Cambridge Core US Equity ETF and First Asset Cambridge Global Dividend ETF products on 30 November 2018.

First Asset to close Cambridge US equity and global dividend ETFs

The funds will cease trading on 30 November 2018.

Currently listed on Toronto Stock Exchange, the funds provide actively managed exposure to portfolios of US equities or global dividend-paying stocks.

The US equity and global dividend ETFs are available in unhedged (Ticker: FCY CN and FCW CN) and currency-hedged (FCY.B CN and FCW.B CN) share classes.

Both share classes are scheduled to terminate.

The ETFs, which are sub-advised by Cambridge Global Asset Management, are designed to serve as core holdings within investors’ portfolios.

The ETFs currently have around $18 million in assets between them and come with management expense ratios (MERs) of 0.70%.

Proceeds from the liquidations will be distributed to investors around 3 December 2018.

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