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TORONTO, July 5, 2017 /CNW/ - First Asset Investment
Management Inc. ("First Asset") is pleased to announce that
First Asset U.S. TrendLeaders Index ETF (the "ETF") has
closed the initial offering of its units and the units will
commence trading today on the Toronto Stock Exchange ("TSX")
under the ticker symbol SID.
"First Asset is dedicated to active strategies, be they ETFs
managed on a discretionary basis by a portfolio management team, or
ETFs based on active smart beta indexes. Consistent with this
focus, we're pleased to launch the First Asset U.S. TrendLeaders
Index ETF, capitalizing on the work of Chartered
Market Technician and Executive Director at CIBC World Markets,
Sid Mokhtari. Sid and his team
have developed a trend-following model designed to consistently
position investors in the best opportunities the US equity market
has to offer."
Rohit Mehta,
President
First Asset Investment Management Inc.
CIBC U.S. TrendLeaders Index
The ETF has been
designed to replicate, to the extent possible, the performance of
the CIBC U.S. TrendLeaders Index, net of expenses. The CIBC
U.S. TrendLeaders Index (the "U.S. TrendLeaders Index") is
comprised of a portfolio of equity securities of U.S. companies.
The U.S. TrendLeaders Index employs a proprietary rules-based model
developed by CIBC World Markets which systematically and
objectively selects and ranks securities based on the duration and
longevity of certain underlying trend-strengths and incorporates an
objective quantitative filter for technical factors. The U.S.
TrendLeaders Index was developed based on the empirical evidence
that shows that equity securities with the highest trend scores
will continue to generate better absolute and relative returns on a
more frequent basis and will undergo different cycles of
mean-reversion, mostly tied to the duration of the period during
which the trend factors are expanding or contracting. To qualify
for inclusion in the U.S. TrendLeaders Index an equity security
must: (i) be a constituent of the Solactive U.S. Large and Mid Cap
Index; and (ii) meet a minimum average daily traded dollar value
volume threshold. The U.S. TrendLeaders Index is reconstituted and
rebalanced monthly in order to remove constituents with weakening
or stagnating trend scores and replace with a new set of higher
trend-scoring constituents.
Sid Mokhtari
Mr.
Mokhtari is a Chartered Market Technician and an executive director
in the capacity of research analysis with a focus on
technical-model trading in the equities, commodities and currencies
asset classes. Mr. Mokhtari developed the CIBC TrendLeaders Matrix
in 2008, a mechanical trend model designed to provide institutional
investors with an objective and systematic multifactor-driven stock
allocation methodology.
About CIBC
CIBC is a Canadian Schedule I bank that,
among other things, is a leading provider of quantitative index
strategies in Canada and
the United States with solutions
offered across multiple asset classes (equities, commodities, FX
and rates). CIBC's index clients include retail investors, asset
managers, pension plans and insurance companies. CIBC's index
family provides factor, trend, curve, hedging and thematic based
investing. CIBC indexes facilitate exposure to various asset
classes in a systematic, transparent and cost-efficient manner.
First Asset – Smart SolutionsTM
First
Asset, a CI Financial Company, is a Canadian investment firm
delivering a comprehensive suite of smart ETF solutions. Rooted in
strong fundamentals, First Asset's smart solutions strive to
deliver better risk-adjusted returns than the broad market, while
helping investors achieve their personal financial goals.
Please read the prospectus before investing. Important
information about the ETF is contained in its prospectus.
Individuals should seek the advice of professionals, as
appropriate, prior to investing. The ETF is not guaranteed, its
value changes frequently and past performance may not be repeated.
Commissions, trailing commissions, management fees and expenses all
may be associated with an investment in the ETF.
The ETF is managed by First Asset, a subsidiary of First Asset
Capital Corp. (FA Capital). TMFirst Asset and its
logo are trademarks of FA Capital, a wholly-owned subsidiary of CI
Financial Corp. which is listed on the TSX under the symbol "CIX".
®CI FINANCIAL is a registered trademark of CI Investments Inc.,
used under license.
Certain trademarks of Canadian Imperial Bank of Commerce and/or
certain of its affiliates (collectively "CIBC") have been licensed
by First Asset for use in connection with the ETF. The securities
of the ETF are not sponsored, promoted, sold or supported in any
other manner by CIBC or by the index calculation agent, Solactive
A.G. ("Solactive"), nor do CIBC or Solactive offer any express or
implicit guarantee or assurance either with regard to the results
of using the index on which the ETF is based, or the index prices
at any time or in any other respect. The prospectus of the ETF
contains a more detailed description of the limited relationship
that CIBC and Solactive have with First Asset and the ETF.
SOURCE First Asset