Unitholders of First Asset Morningstar U.S. Consumer Defensive Index Fund Approve Merger
/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./
TORONTO, July 30, 2018 /CNW/ - First Asset Morningstar U.S. Consumer Defensive Index Fund (the "Fund") (TSX: UCD.UN) announces that, at an adjourned special meeting of the unitholders of the Fund ("Unitholders") held today (the "Meeting"), Unitholders approved the merger (the "Merger") of the Fund with First Asset MSCI USA Low Risk Weighted ETF (TSX: RWU).
As approved at the Meeting, in order to provide those Unitholders who do not wish to participate in the Merger with an opportunity to redeem their units at net asset value, the Fund's annual redemption date for 2018 will be accelerated from September 27, 2018 to August 24, 2018. Unitholders who wish to exercise this accelerated redemption right must give notice to their broker or other intermediary prior to 5:00 p.m. on Wednesday, August 15, 2018 that they wish to exercise this right. Such Unitholders should inform their broker or other intermediary sufficiently in advance of August 15, 2018 of their desire to exercise this right as their broker or other intermediary may have an earlier cut-off deadline.
The implementation of the Merger is subject to certain third party and regulatory approvals. The Manager currently anticipates that the Merger will be implemented on or about September 14, 2018.
Unitholders are not required to take any action in connection with the Merger unless they wish to redeem their units as described above.
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SOURCE First Asset
