First Asset Equal Weight Small-Cap Income Fund

First Asset Equal Weight Small-Cap Income Fund
First Asset

First Asset

February 28, 2005 09:00 ET

First Asset Equal Weight Small-Cap Income Fund Files Preliminary Prospectus


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FIRST ASSET EQUAL WEIGHT SMALL-CAP INCOME FUND

FEBRUARY 28, 2005 - 09:00 ET

First Asset Equal Weight Small-Cap Income Fund Files
Preliminary Prospectus

TORONTO, ONTARIO--(CCNMatthews - Feb. 28, 2005) - First Asset Funds Inc.
is pleased to announce that a preliminary prospectus for First Asset
Equal Weight Small-Cap Income Fund (the "Fund") has been filed with the
securities regulatory authorities of all the Canadian provinces for an
initial public offering of trust units.

The Fund is designed to provide unitholders with monthly cash
distributions and the opportunity for capital appreciation by investing
in an equally weighted diversified portfolio of Small-Cap Income Trusts
on a passive basis.

The Fund's portfolio will be comprised of an approximate equal dollar
amount of securities of each Small-Cap Income Trust listed on the
Toronto Stock Exchange that pays a regular distribution and that has a
market capitalization of not less than $50 million and not more than
$400 million at the time of investment. As at February 14, 2005, there
were 73 qualifying Small-Cap Income Trusts. As a result of the equal
weight approach, each Small-Cap Income Trust would constitute
approximately 1.37% of the portfolio. The portfolio will be rebalanced
annually to maintain the equal weighting.

Prospective purchasers may purchase trust units either by cash payment
or by an exchange of units of any Small-Cap Income Trust in the
indicative portfolio, as described in the preliminary prospectus.

First Asset Funds Inc., the manager of the Fund, is a wholly-owned
subsidiary of First Asset Management Inc. ("First Asset"). First Asset
is an integrated wealth management company that has acquired top tier
investment management firms in Canada, rapidly growing to become a
leading Canadian asset management company with approximately $27.8
billion in assets under management or administration as at January 31,
2005.

The syndicate of agents for this offering is being led by CIBC World
Markets Inc. and RBC Capital Markets, and includes BMO Nesbitt Burns
Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities
Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation,
Desjardins Securities Inc., Dundee Securities Corporation, First
Associates Investments Inc., Raymond James Ltd., Wellington West Capital
Inc., Research Capital Corporation, Berkshire Securities Inc. and
Richardson Partners Financial Limited.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    First Asset Funds Inc.
    Tanya Carey
    (416) 642-1289 or 1-877-642-1289
    www.firstassetfunds.com.