First Asset Investment Management Inc. Monday announced that the merger of First Active Credit Fund (formerly, First Asset Yield Opportunity Trust) (TSX: FAY.UN and FAY.U) with First Asset Active Credit ETF was completed and the First Asset ETF began on the Toronto Stock Exchange under the ticker symbols FAO and FAO.U.

In connection with the merger, each issued and outstanding Series A unit of the fund received 1.10586 common units of the ETF (TSX:FAO), and each issued and outstanding Series B unit of the fund received 0.41337 US$ common units of the ETF (TSX:FAO.U).