U.S. dollar units of First Asset Investment Grade Bond ETF commenced trading on the TSX Tuesday under the ticker symbol FIG.U. Canadian dollar units have been available since August 2016, trading under the symbol FIG.
Actively managed by Marret Asset Management, the ETF aims to provide exposure to a diversified mix of investment-grade corporate bonds from issuers in Canada, the U.S. and Europe, First Asset Investment Management Inc. said in a release.
The ETF’s investment objectives are to provide unit holders with monthly cash distributions and to maximize total returns consisting primarily of monthly distributions, while reducing risk and preserving capital. Under normal market conditions, the firm says the ETF will be primarily invested in investment-grade bonds and other investment-grade debt securities.