Toronto-based First Asset Management Inc. is merging three of its closed-end funds into an ETF. The company has received unitholder approval to merge First Asset Diversified Convertible Debenture Fund, First Asset Canadian Convertibles Fund and First Asset North American Convertibles Fund into First Asset Canadian Convertible Bond ETF. Merging is expected to occur in December. First Asset Canadian Convertible Bond ETF provides investors with market cap-weighted exposure to the largest and most liquid Canadian convertible bonds. The ETF’s management fee is 0.65%.

(fcollie@investmentexecutive.com).