TORONTO, ONTARIO--(Marketwired - April 12, 2013) - First Asset recently wrapped-up the Search for Canada's Next Top ETF contest and has declared it a resounding success.
A campaign like this has never been done before - a fund company has never reached out to the investment community with a challenge to come up with its next ETF. Although First Asset was uncertain how the community would respond, the campaign exceeded expectations. Barry Gordon, President and CEO, is pleased with the results: "The sheer number of inquiries, the quantity of ETF suggestions and the quality of those ETF submissions was astounding. We are really excited to explore the possibility of launching several new ETF's as a direct result of this search."
The winners have been selected and First Asset is currently in the process of contacting each of them in order to make arrangements for the respective charitable donations. Additionally, the winning entry in the Search for Canada's Next Top ETF was so intriguing that First Asset is working around the clock in an effort to launch the new ETF. Details of the winners and the chosen charities will be released over the next few weeks, along with an announcement of First Asset's Next Top ETF.
First Asset ran the challenge within the investment advisor community across Canada (outside Quebec). Advisors submitted a 50 word description of their ETF recommendation. All submissions were screened against viability criteria, shortlisted, and then voted on by the First Asset selection team. The challenge ran between February 14 and March 31. $20,000 in cash prizes are being awarded to the charity of the winners' choice based on the following formula:
- 1 x Grand Prize - $10,000
- 2 x Secondary Prizes $5,000
First Asset is an innovative company that has already had a number of firsts: the first convertible bond ETF, the first ETFs that track Morningstar indexes, the first Quebec-based ETF, the first ETFs to engage a Barbell Bond Strategy, and the first Provincial Bond ETF. Now, First Asset has created another first. It is the first ETF company to challenge the investment community to tell them what advisors and their clients would like to see as a next potential ETF, and in the next few weeks First Asset will become the first fund company to launch such a fund.
This communication is intended for informational purposes only. The ETFs are offered by prospectus. The prospectus contains important detailed information about the ETFs and their units. Copies of the prospectus may be obtained from your investment advisor, First Asset or at www.sedar.com. Investors should read the prospectus before making an investment decision. Commissions, trailing fees, management fees and expenses all may be associated with investments in the ETFs. Morningstar and the Morningstar logo are registered trademarks of Morningstar, Inc. and have been licensed for use for certain purposes by First Asset Investment Management Inc. These ETFs are not sponsored, endorsed, sold or promoted by Morningstar or any of its affiliates (collectively, "Morningstar"), and Morningstar makes no representation regarding the advisability of investing in the ETFs.