First Asset converts mutual fund into ETF

First Asset Investment Management Inc. has converted Marret Investment Grade Bond Fund, a mutual fund, into First Asset Investment Grade Bond ETF, an actively managed bond ETF. The ETF’s objective is to provide unitholders with monthly cash distributions and to maximize total returns while reducing risk and preserving capital. The ETF will invest primarily in investment-grade bonds and other investment-grade debt securities. Paul Sandhu, vice president and portfolio manager with Toronto-based Marret Asset Management Inc., will continue to act as lead portfolio manager for the ETF. The management fee for common units is 0.65%.

(fcollie@investmentexecutive.com).