Toronto-based First Asset Investment Management Inc. has announced a few updates to its investment fund lineup.
Specifically, First Asset Global Dividend Fund announced that all of the issued and outstanding units of the fund are to be redeemed by the fund on or about June 8.
As of June 12, the fund will provide unitholders with their proportionate share of all property and assets of the fund available for distribution through the final redemption of all outstanding units of the fund.
Unitholders are not required to take any action in connection with the termination and the final redemption. The fund is now closed to new purchases by new and existing investors.
First Asset also announced that it will terminate First Asset U.S. Equity Multi-Factor Index ETF and First Asset Canadian Dividend Low Volatility Index ETF as of June 11.
Units of each fund will be de-listed from the Toronto Stock Exchange (TSX) on or about June 8. Until then, units of the funds will continue to be listed on the TSX under the ticker symbols FUM and FDL, respectively.
As soon as practicable following the termination date, the net assets of each fund will be liquidated and the proceeds will be distributed pro rata among holders of record of the fund of the termination date.