{"id":33855,"date":"2016-11-05T23:53:27","date_gmt":"2016-11-06T04:53:27","guid":{"rendered":"http:\/\/prefblog.com\/?p=33855"},"modified":"2016-11-05T23:53:27","modified_gmt":"2016-11-06T04:53:27","slug":"psf-un-merged-into-fpr","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33855","title":{"rendered":"PSF.UN Merged Into FPR"},"content":{"rendered":"

First Asset Investment Management Inc. has announced<\/a>:<\/p>\n

that the merger of Preferred Share Investment Trust (TSX: PSF.UN) (the “Fund”) with First Asset Preferred Share ETF (the “First Asset ETF”) (TSX: FPR) was implemented after the close of business on November 1, 2016.<\/p>\n

In connection with the Merger, each issued and outstanding unit of the Fund received 0.29955 Unit of the First Asset ETF.<\/p><\/blockquote>\n

According to FPR’s investment objectives<\/a>:<\/p>\n

First Asset Preferred Share ETF’s investment objective is to provide unitholders with regular distributions; and the opportunity for capital appreciation from the performance of a portfolio comprised primarily of preferred shares of North American issuers. This actively managed portfolio will be comprised primarily of investment grade preferred shares and to a lesser extent investment grade corporate debt and convertible bonds. At least 75% of the Preferred Shares and Corporate Debt in the portfolio of FPR shall be rated investment grade at the end of every reporting period (June 30th and December 31st).<\/p><\/blockquote>\n

This has the very sad, unfortunate and most lamentable effect of suppressing the performance history of PSF.UN. As reported in the MAPF Performance: September 2016<\/a> report, as of September 30, 2016, the historical performance looked like this:<\/p>\n

Figures for the First Asset Preferred Share Investment Trust (PSF.UN)<\/a> are +0.11%, +2.45% and -1.67% for the past one, three and twelve months, respectively. The two-, three-, four- and five-year figures are -14.52%, -9.01%, -7.09% and -5.10%, respectively.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

First Asset Investment Management Inc. has announced: that the merger of Preferred Share Investment Trust (TSX: PSF.UN) (the “Fund”) with First Asset Preferred Share ETF (the “First Asset ETF”) (TSX: FPR) was implemented after the …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-33855","post","type-post","status-publish","format-standard","hentry","category-indices-and-etfs"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33855"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33855\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}