First Asset enhance Core ETF suite with Canadian Equity Income ETF

Nov 18th, 2015 | By | Category: Equities

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First Asset, the Toronto-based investment manager, has concluded the conversion of its closed-end fund, the Can-60 Income Corp, to an exchange-traded fund. All outstanding shares in the original format were consolidated on a 1:3 basis as new shares in the First Asset Core Canadian Equity Income ETF (Toronto Stock Exchange: CSY).

First Trust enhance Core ETF suite with Canadian Equity Income ETF

Barry Gordon, President and CEO, First Asset Investment Management.

The First Asset Core Canadian Equity Income ETF is a fund-of-funds ETF which combines a range of First Asset ETFs to provide exposure to momentum, value, size and volatility factors. The fund, which offers targeted Canadian equity exposure, thereby aims to capture these market premiums to deliver improved risk-adjusted returns over the long-term. One of the constituent funds, the First Asset Morningstar Canada Dividend Target 30 Index ETF uses proprietary Morningstar methodologies to screen for stocks with high returns on equity and cash flows relative to debt levels, providing investors with an attractive income stream.

As of 18 November 2015, First Asset’s Core Canadian Equity Income ETF was invested in the First Asset MSCI Canada Low Risk Weighted ETF (30.0%), the First Asset Morningstar Canada Value Index ETF (25.8%), the First Asset Morningstar Canada Dividend Target 30 Index ETF (24.0%), and the First Asset Morningstar Canada Momentum Index ETF (20.2%). There are 123 underlying holdings across the four ETFs with no one security accounting for more than 2.6% of the total portfolio. The fund is listed on the Toronto Stock Exchange and carries a management fee of 0.75%.

First Asset’s suite of Core ETFs provide one-ticket portfolio solutions to advisors and their clients through optimised low cost portfolios. The funds help advisors reduce trading costs for their clients while maintaining a suitable diversified profile of potential capital appreciation, risk mitigation and income generation.

Barry Gordon, President and CEO, First Asset Investment Management, commented: “First Asset continues to lead in its development of high quality ETFs that employ smart beta methodologies, particularly multi-factor investing. Our Core ETFs have proven popular with advisors who are committed to including leading ETF solutions in their client portfolios.”

The range of First Asset Core ETFs now consists of the following funds:

First Asset Core Canadian Equity Income ETF (CSY)

First Asset Core Canadian Equity ETF (CED)

First Asset Core US Equity US Dollar ETF (CES.U)

First Asset Core US Equity CAD Hedged ETF (CES)

First Asset Core US Equity Unhedged ETF (CES.B)

First Asset Core Balanced ETF (CBB)

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