First Asset

First Asset
First Asset Yield Opportunity Trust
TSX : FAY.UN

First Asset Yield Opportunity Trust
Preferred Securities Income Fund
TSX : PFS.UN

Preferred Securities Income Fund
Preferred Securities Limited Duration Fund
TSX : PLD.U
TSX : PLD.UN

Preferred Securities Limited Duration Fund
Global 45 Split Corp.
TSX : GFV.PR.A
TSX : GFV

Global 45 Split Corp.
First Asset Equal Weight REIT Income Fund
TSX : RIT.UN

First Asset Equal Weight REIT Income Fund
First Asset Pipes & Power Income Fund
TSX : EWP.UN

First Asset Pipes & Power Income Fund
First Asset/BlackRock North American Dividend Achievers(TM) Trust
TSX : BDA.UN

First Asset/BlackRock North American Dividend Achievers(TM) Trust
Payout Performers(TM) Income Fund
TSX : PPF.UN

Payout Performers(TM) Income Fund
Split REIT Opportunity Trust
TSX : SOT.UN
TSX : SOT.PR.A

Split REIT Opportunity Trust
Utility Split Trust
TSX : UST.PR.A
TSX : UST.UN

Utility Split Trust

January 03, 2007 12:15 ET

First Asset Funds Inc. Confirms Distributions

TORONTO, ONTARIO--(CCNMatthews - Jan. 3, 2007) - First Asset Funds Inc. announces that the estimated distributions for the period ending December 31, 2006 which were announced on December 18, 2006 (as set out below) have all been confirmed with the exception of the special distribution for First Asset Equal Weight REIT Income Fund (TSX:RIT.UN) (the "Fund") which is now confirmed at $0.12 per Unit as opposed to $0.17 per Unit. This takes the aggregate distribution for the Fund to $0.20 per Unit. The change in the special distribution is attributable to the Fund's ability to retain additional taxable capital gains in the Fund, thereby further deferring tax for Unitholders. In all cases, the distribution will be paid on or before January 15, 2007 to unitholders of record on December 29, 2006.



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Pre-Tax
Distribution TSX Interest
TSX Amount Trading Annualized Equivalent
Name Symbol (per unit) Price (a) Yield (b) (c)
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First Asset Yield
Opportunity Trust FAY.UN $ 0.1458 $24.10 7.26% 8.52%
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Preferred Securities
Income Fund PFS.UN $ 0.12 $20.06 7.18% 10.29%
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Preferred Securities
Limited Duration Fund CDN CAD
- Series A PLD.UN $ 0.1042 $20.22 6.18% 8.86%
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Preferred Securities
Limited Duration Fund US USD
- Series B PLD.U $ 0.0417 $ 8.06 6.21% 8.90%
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Global 45 Split
Corp. - Class
Shares A GFV $ 0.10 $14.04 8.55% 12.25%
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First Asset Equal
Weight REIT
Income Fund RIT.UN $ 0.2000 $13.49 6.84% (d) 8.62%
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First Asset
Pipes & Power
Income Fund EWP.UN $0.05833 $ 7.60 9.21% 10.81%
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First Asset/BlackRock
North American
Dividend Achievers™
Trust BDA.UN $ 0.05 $ 9.89 6.07% 8.69%
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Payout Performers™
Income Fund PPF.UN $ 0.05 $ 8.50 7.06% 8.59%
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Split REIT
Opportunity
Trust - Capital
Units SOT.UN $0.07813 $16.68 5.62% 8.06%
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Utility Split
Trust - Capital
Units UST.UN $ 0.0906 $14.50 7.50% 10.75%
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Global 45 Split
Corp. - Preferred
Shares GFV.PR.A $0.13125 $10.40 5.05% 7.23%
---------------------------------------------------------------------------
Split REIT
Opportunity
Trust - Preferred
Securities SOT.PR.A $0.14375 $10.25 5.61% 5.61%
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Utility Split Trust
- Preferred $0.07397
Securities UST.PR.A (e) $10.40 6.00% 6.00%
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(a) As at close on January 2, 2007.
(b) Based on trading price as at Jan. 2, 2007.
(c) Estimated. Based on Ontario tax rates.
(d) Based on trailing 12-month distributions.
(e) Reflects interest from closing date (45 days).


Contact Information

  • First Asset Funds Inc.
    Rob MacNiven
    Investor Relations
    (416) 642-1289 or 1-877-642-1289
    Website: www.firstassetfunds.com