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

First Asset Pipes & Power Income Fund
First Asset

First Asset

October 22, 2008 08:00 ET

First Asset Pipes & Power Income Fund: Press Release

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2008) - First Asset Pipes & Power Income Fund (TSX:EWP.UN) announces a distribution of $0.04167 per Unit for the month ending October 31, 2008. The distribution will be paid on or before November 14, 2008 to unitholders of record on October 31, 2008.

The reduction of the distribution reflects the extraordinary conditions that global markets are currently experiencing and the Manager's belief that under such market conditions, the Fund should adopt a much more defensive position, which includes, among other things, preserving cash levels. The Fund holds a cash position of approximately 42% and is well positioned to take advantage of investment opportunities when the Manager believes it would be prudent to do so. In addition, the Fund has not employed leverage in 2008. The appropriate level of distributions will be assessed on an on-going basis.

Contact Information

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