First As­set launches health-care ETF

Investment Executive - - FOCUS ON PRODUCTS - Com­piled by Fiona Col­lie (fcol­lie@in­vest­mentex­ec­u­

Toronto-based First As­set In­vest­ment Man­age­ment Inc. has launched a new ETF fo­cused on the health-care in­dus­try. First As­set Health Care Gi­ants Cov­ered Call ETF is an ac­tively man­aged port­fo­lio meant to pro­vide in­vestors with reg­u­lar cash dis­tri­bu­tions, cap­i­tal ap­pre­ci­a­tion and low over­all volatil­ity. The ETF is de­signed to ac­com­plish this ob­jec­tive through in­vest­ments, on an equal-weighted ba­sis, in 20 large-cap health-care se­cu­ri­ties listed on North Amer­i­can stock ex­changes and through the use of cov­ered-call op­tions. Man­age­ment fees are 0.65%.

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