First Asset to close an ETF
First Asset Investment Management announced on June 28 that it will terminate the CI First Asset U.S. Tactical Sector Allocation Index ETF (TSX: FUT) on or about Sept. 13.
The company says it will request that the Toronto Stock Exchange de-list units of the fund from the TSX on or about Sept. 12. Until then, units of the fund will continue to be listed on the TSX.
Following the termination date, the net assets of the fund will be liquidated and the proceeds distributed pro rata among holders of record of the fund.