/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES OF AMERICA./
TORONTO, Jan. 7, 2015 /CNW/ - First Asset confirms the following regular distributions ("Regular Distributions") previously announced on December 18, 2014, for the year ending December 31, 2014. The estimated special distributions announced on December 18, 2014, in respect of First Asset Canadian REIT Income Fund and JFT Strategies Fund have been revised and confirmed, as noted below under the heading "Special Distributions".
Regular Distributions
The following Regular Distributions will be paid in cash on or before January 15, 2015, to holders of record on December 31, 2014.
|
Name
|
TSX Symbol
|
Confirmed 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
|
Special Distributions
The special distributions announced on December 18, 2014 (the "Special Distributions") have been revised as noted in the table below. The revised Special Distributions are now confirmed and 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 Special Distributions. The cash portion of the 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 Special Distributions will be paid (in cash and in securities as described above) on or before January 15, 2015 to holders of record on December 31, 2014.
|
Name
|
TSX Symbol
|
Revised, Confirmed Special
Distribution (per unit)
|
|
|
In Cash
|
In Units
|
|
First Asset Canadian REIT Income Fund
|
RIT.UN
|
$0.035
|
$0.105
|
|
JFT Strategies Fund – Class A
|
JFS.UN
|
$0.205
|
$0.615
|
|
JFT Strategies Fund – Class F
|
n/a
|
$0.25
|
$0.75
|
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.
SOURCE First Asset Close-End Funds
please contact Investor Relations, First Asset at 416-642-1289 or 1?877?642?1289 or visit www.firstasset.com.Copyright CNW Group 2015