First Asset Wins Five 2018 FundGrade A+®Awards
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TORONTO, Jan. 25, 2019 /CNW/ - First Asset Investment Management Inc. ("First Asset") announced today that 4 of its exchange-traded funds ("ETFs") and one of its mutual funds have received 2018 FundGrade A+® Awards. These coveted awards recognize funds with consistent, outstanding risk-adjusted performance. The awards were announced by Fundata Canada Inc. at their annual Evening of Excellence gala last night in Toronto.
The winning funds are:
- First Asset Canadian REIT ETF (RIT: TSX)
- First Asset Canadian Convertible Bond ETF (CXF: TSX)
- First Asset Energy Giants Covered Call ETF (NXF: TSX)
- First Asset Morningstar National Bank Québec Index ETF (QXM: TSX)
- First Asset REIT Income Fund (Class A)
"The FundGrade A+ Awards have become a highly prized achievement in the Canadian investment industry, and we are so proud to have five First Asset solutions honoured with this distinction." said Rohit Mehta, President, First Asset. "We are honoured that RIT, one of our actively managed ETFs, has been recognized with this award for the third year running".
First Asset – Smart SolutionsTM
First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. Rooted in strong fundamentals, First Asset's smart solutions strive to deliver better risk-adjusted returns than the broad market, while helping investors achieve their personal financial goals.
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the "best of the best" among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from "A" to "E" receives a score from 4 to 0, respectively. A fund's average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
Fund Name | CIFSC Category | Fund | FundGrade | FundGrade |
First Asset Canadian REIT ETF (RIT) | Real Estate Equity | 76 | 1/31/2009 | 12/31/2018 |
First Asset Canadian Convertible Bond ETF (CXF) | Canadian Corporate Fixed Income | 56 | 1/31/2012 | 12/31/2018 |
First Asset Energy Giants Covered Call ETF (NXF) | Energy Equity | 43 | 1/31/2016 | 12/31/2018 |
First Asset Morningstar National Bank Québec Index ETF (QXM) | Canadian Equity | 402 | 1/31/2013 | 12/31/2018 |
First Asset REIT Income Fund | Real Estate Equity | 76 | 1/31/2011 | 12/31/2018 |
Performance as of December 31, 2018:
First Asset Canadian REIT ETF (RIT), 1 year, 3.97%; 3 years, 11.08%; 5 years, 10.71%; 10 years, 14.66%; since inception, 10.40% (Nov. 2004)1;
First Asset Canadian Convertible Bond ETF (CXF), 1 year, -2.81%; 3 years, 5.00%; 5 years, 4.50%; since inception, 3.79% (June 2011);
First Asset Energy Giants Covered Call ETF (NXF), 1 year, -9.41%; 3 years, 5.54%; since inception, -2.24% (Feb. 2015);
First Asset Morningstar National Bank Québec Index ETF (QXM), 1 year -9.30%; 3 years, 5.43%; 5 years, 7.80%; since inception, 10.94% (Feb. 2012);
First Asset REIT Income Fund (Class A), 1 year, 2.59%; 3 years, 9.18%; 5 years, 9.41%; since inception, 11.59% (June 2010).
The indicated rates of return are the historical annual compounded total returns, including changes in unit value and do not take into account sales, redemption or optional charges or income taxes payable by a security holder that would have reduced returns.
1. | RIT was originally launched as a TSX-listed closed-end fund on November 15, 2004, and converted into an exchange traded fund on July 14, 2015. Performance shown is since inception of the closed-end fund. In connection with the conversion, and pursuant to unitholder approval, the annual management fee payable by the Fund to First Asset, as manager, was reduced to 0.75% (from 1.05%) of the NAV per unit and certain changes were made to the investment objectives, strategies and restrictions applicable to the Fund. Material among these changes is the ability for the Fund to invest up to 30% of its portfolio in securities of real estate issuers listed on non-Canadian stock exchanges and the Fund will no longer be permitted to use leverage. Had these changes been in effect prior to this date the performance of the Fund could have been different. |
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase a First Asset ETF of mutual fund and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. These investments may not be suitable for all investors. Some conditions apply. Please read the prospectus before investing. Important information about the ETF or mutual fund is contained in its respective prospectus. Copies of the prospectus may be obtained from your Investment Advisor, First Asset, www.firstasset.com or at www.sedar.com. ETFs and mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and ETFs. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.
The First Asset ETFs are managed by First Asset, a subsidiary of CI Financial Corp. which is listed on the Toronto Stock Exchange under the symbol "CIX". TMFirst Asset and its logo are trademarks of a subsidiary of CI Financial Corp. ®CI FINANCIAL is a registered trademark of CI Investments Inc., used under license.
SOURCE First Asset
