First Asset

First Asset
First Asset Energy & Resource Fund
TSX : TRF.UN

First Asset Energy & Resource Fund
First Asset Energy & Resource Income & Growth Fund

First Asset Energy & Resource Income & Growth Fund

October 04, 2007 08:45 ET

First Asset Energy & Resource Fund and First Asset Energy & Resource Income & Growth Fund Complete Combination

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2007) - First Asset Energy & Resource Fund (TSX:TRF.UN) ("Fund I") is pleased to announce that effective October 4, 2007, it has completed its combination with First Asset Energy & Resource Income & Growth Fund ("Fund II"). As a result of this transaction, Fund II no longer exists and its former limited partners are now limited partners of Fund I.

As a result of the combination, the following changes were also made to the Limited Partnership Agreement governing Fund I:

- An annual redemption feature has been implemented pursuant to which limited partners will be able to redeem their units commencing in January, 2008 at a price equal to net asset value per unit less a 2% redemption fee.

- The investment advisory fee payable by Fund I to the investment advisor, First Asset Investment Management Inc., has been permanently reduced from 1.15% per annum to 0.85% per annum, and the performance bonus has been reset as approved by limited partners.

- The General Partner was granted the authority to implement a division or consolidation of the units in the future should the circumstances warrant it.

Contact Information

  • First Asset
    Paul Dinelle
    Executive Vice-President
    (416) 642-1289 or 1-877-642-1289
    Website: www.firstasset.com