/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