First Asset

First Asset
First Asset Global Infrastructure Fund
TSX : FAI.UN

First Asset Global Infrastructure Fund

July 09, 2007 08:39 ET

First Asset Global Infrastructure Fund Announces Exercise of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - July 9, 2007) - First Asset Global Infrastructure Fund (the "Fund") (TSX:FAI.UN) announces that the Fund's syndicate of agents for its initial public offering has exercised its over-allotment option and acquired an additional 200,000 units of the Fund. In total, the Fund issued 3 million units pursuant to its initial public offering, yielding gross proceeds of $30 million. The units of the Fund are listed on the Toronto Stock Exchange under the symbol FAI.UN.

The Fund was created to provide unitholders with exposure to a portfolio of listed infrastructure issuers ("Infrastructure Issuers"). The portfolio is comprised of the 75 Infrastructure Issuers which are included in the S&P Global Infrastructure Index, and select Canadian Infrastructure Issuers chosen by First Asset Investment Management Inc, the investment advisor.

The Fund's investment objectives are to (a) pay quarterly cash distributions of $0.15 per unit, or 6% per annum based on the original price of $10.00 per unit; and (b) provide long term capital appreciation through growth in the portfolio.

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

The "S&P Global Infrastructure Index" is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by First Asset Funds Inc. The Fund is not sponsored, endorsed, sold or promoted by Standard & Poor's® ("S&P"), and S&P makes no representation regarding the advisability of investing in units of the Fund.

Contact Information

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