Payments will be made to unitholders on Aug. 24
The new fund uses a trend-following model designed by CIBC World Markets
The firm will also eliminate First Asset Cambridge Core Canadian Equity ETF from its line up in August
Closed-end fund will terminate on July 31
The July 1 terminations are a result of low investor demand
Demand for advisor class units, which make up less than 2% of the firm’s AUM, is expected to decline as new regulatory measures take shape
The mergers, which take effect on March 10, will see two funds folded into two continuing funds
First Asset Hamilton Capital European Bank ETF will now be known as First Asset European Bank ETF, but its investment objective remains the same
The firm proposes to terminate four exchange-traded funds
The new ETFs, which began trading on the TSX on Tuesday, are based on proprietary indices that CIBC has developed