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TORONTO, Sept. 24, 2015 /CNW/ - First Asset CanBanc Income
ETF (TSX: CIC) announces that it has completed the conversion from
a closed-end fund (CanBanc Income Corp.) to an exchange-traded
fund. Today, outstanding equity shares of CanBanc Income
Corp. have been re-designated as ETF Shares of First Asset CanBanc
Income ETF (the "ETF"), which trade on the Toronto Stock Exchange
under ticker "CIC".
An attractive risk adjusted way to own Canadian
Banks
CIC provides an attractive opportunity for investors looking for
exposure to the big six Canadian banks with enhanced yield
potential. First Asset believes that the common shares of
these banks are attractive long-term investments, but that they may
exhibit significant price volatility from time to time. CIC's
investment strategy incorporates selling call options to capitalize
on volatility while retaining all the upside on a significant
portion of the portfolio. This balanced approach is designed to
perform in a variety of different market environments and
deliver:
- Downside protection
- Lower overall volatility of returns
- Increased cash-flow for distribution
First Asset - Smart SolutionsTM
First
Asset is an independent investment firm, focused on providing
smart, low cost solutions that address the real-world investment
needs of Canadians - capital appreciation, income generation and
risk mitigation. 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.
Please read the prospectus before investing. Important
information about the ETF is contained in its prospectus.
Individuals should seek the advice of professionals, as
appropriate, prior to investing. ETFs are not guaranteed, their
values change frequently and past performance may not be repeated.
Commissions, trailing commissions, management fees and expenses all
may be associated with an investment in ETFs. The ETF is managed by
First Asset Investment Management Inc.
SOURCE First Asset