First Asset Tech Giants Covered Call ETF Announces Unitholder Meeting

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TORONTO, April 20, 2018 /CNW/ - First Asset Tech Giants Covered Call ETF (the "Fund") (TSX: TXF; TXF.B) announces that a special meeting of the unitholders of the Fund will be held on Monday, June 4, 2018 and, if required, an adjourned meeting will be held on Tuesday, June 5, 2018.  Holders of common units and unhedged common units of record on April 16, 2018 will be entitled to receive notice of and vote at the meeting.  The Notice and Management Information Circular which details the matters to be considered at the meeting will be available on www.sedar.com on or about April 30, 2018.

At the meeting, unitholders of the Fund will be asked to consider and approve an amendment to the fundamental investment objective of the Fund in response to certain changes to the Global Industry Classification Standard ("GICS") that may, in the opinion of First Asset Investment Management Inc., as manager and trustee of the Fund (the "Manager"), adversely impact the Fund. In particular, those changes will reclassify a significant number of companies that the Fund is currently permitted to invest in, thereby narrowing the universe of available technology issuers which the Fund is currently permitted to invest in. 

The Manager is proposing to amend the investment objective of the Fund in order to substantially preserve the scope of companies that the Fund is currently permitted to invest in by allowing the Fund to also invest in certain GICS sub-industries. 

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This press release contains forward-looking statements and information within the meaning of applicable securities legislation. The forward-looking statements are not historical facts but reflect the current expectations of First Asset regarding future results or events and are based on information currently available to them as of the date of this press release. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. First Asset believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, First Asset can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. First Asset undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws.

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SOURCE First Asset