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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SOURCE First Asset