First Asset converts fund

The conversion of Toronto-based First Asset Investment Management Inc.’s closed-end fund, Can-60 Income Corp., into an exchange-traded fund (ETF) is complete. The outstanding equity shares of the closed-end fund were consolidated and re-designated as ETF shares of First Asset Core Canadian Equity Income ETF. The new ETF is managed using a multi-factor portfolio-optimization strategy focusing on factors such as momentum, value, size and volatility. The ETF also may invest directly in equities and/or indirectly in securities through other ETFs, including those managed by First Asset. Management fees are 0.75% for common units and 1.5% for advisor units.

(fcollie@investmentexecutive.com.)