TORONTO, Dec. 18, 2014 /CNW/ - First Asset announces the following estimated regular distributions ("Estimated Regular Distributions") and estimated special distributions (if any) ("Estimated Special Distributions") for the year ending December 31, 2014. The final distribution amounts will be announced shortly after the year-end and, prior to payment, once each Fund's year-end tax position is finalized.
Estimated Regular Distributions
The following Estimated Regular Distributions will be paid in cash on or before January 15, 2015, to holders of record on December 31, 2014.
|
Name
|
TSX Symbol
|
Estimated Regular Distribution (per unit)
|
|
First Asset Yield Opportunity Trust – Series A
|
FAY.UN
|
$0.1458
|
|
First Asset Yield Opportunity Trust – Series B
|
FAY.U
|
$0.044 (USD)
|
|
First Asset Canadian REIT Income Fund
|
RIT.UN
|
$0.05
|
|
First Asset Pipes & Power Income Fund
|
EWP.UN
|
$0.03
|
|
Utility Split Trust – Capital Units
|
UST.UN
|
$0.05
|
|
Utility Split Trust – Preferred Shares
|
UST.PR.B
|
$0.13125
|
|
Triax Diversified High-Yield Trust
|
TRH.UN
|
$0.07
|
|
First Asset Diversified Convertible Debenture Fund
|
DCD.UN
|
$0.30
|
|
Preferred Share Investment Trust
|
PSF.UN
|
$0.15
|
|
First Asset CanBanc Split Corp. – Preferred Shares
|
CBU.PR.A
|
$0.1625
|
|
CanBanc Income Corp.
|
CIC
|
$0.175
|
|
Can-60 Income Corp.
|
CSY
|
$0.1625
|
|
Canadian Advantaged Convertibles Fund
|
ADC.UN
|
$0.15
|
|
Can-Financials Income Corp.
|
FIC
|
$0.15
|
|
North American Advantaged Convertibles Fund
|
NCD.UN
|
$0.125
|
|
CanBanc 8 Income Corp.
|
CBF
|
$0.15
|
|
First Asset Morningstar U.S. Consumer Defensive Index Fund
|
UCD.UN
|
$0.0569
|
Estimated Special Distributions
The following Estimated Special Distributions will be paid in cash and in units. One-quarter will be paid in cash, and the balance will be paid by the issuance of units of the fund, and immediately thereafter, the issued and outstanding capital of the fund will be consolidated such that the number of issued and outstanding units of the fund does not change. As a result, the net asset value per unit of the Fund will decrease by an amount equal to the cash portion of the Estimated Special Distributions. The cash portion of the Estimated Special Distributions is intended to cover the maximum tax liability for capital gains for unitholders in the highest marginal tax bracket (premised on the special distribution being comprised of capital gains).
For the 2 funds listed below, the Estimated Special Distributions will be paid (in cash or in securities as described above) on or before January 15, 2015 to holders of record on December 31, 2014.
|
Name
|
TSX Symbol
|
Estimated Special Distribution (per unit)
|
|
|
In Cash
|
In Units
|
|
First Asset Canadian REIT Income Fund
|
RIT.UN
|
$0.025
|
$0.075
|
|
JFT Strategies Fund – Class A
|
JFS.UN
|
$0.25
|
$0.75
|
|
JFT Strategies Fund – Class F
|
n/a
|
$0.29
|
$0.86
|
For the fund listed below, the Estimated Special Distribution will be paid in cash on December 31, 2014 to the Class A Shareholders of record on December 31, 2014.
|
Name
|
TSX Symbol
|
Estimated Special Distribution (per unit)
|
|
|
In Cash
|
|
First Asset CanBanc Split Corp. – Class A Shares
|
CBU
|
$0.60
|
The actual taxable amounts of all distributions for 2014, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2015.
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.
This communication is intended for informational purposes only. Commissions, management fees and expenses all may be associated with investments funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.
Not for dissemination to U.S. newswire services or for dissemination to the United States of America.
SOURCE First Asset
please contact Investor Relations, First Asset at 416-642-1289 or 1?877?642?1289 or visit www.firstasset.com.Copyright CNW Group 2014