XTF Capital Corp, a First Asset Company is pleased to announce the launch of Canada’s first Convertible Bond ETF - Canadian Convertible Liquid Universe ETF (the “Convertible Bond XTF”). This will mark the fifth exchange-traded fund launched by XTF Capital this month. The Convertible Bond XTF will begin trading on the Toronto Stock Exchange (“TSX”) on Tuesday, June 7, 2011 under the symbol CXF (for its Common Units) and CXF.A (for its Advisor Units)......
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A UNIQUE ETF FROM LARGEST MANAGER OF CONVERTIBLE BONDS
The investment objectives of the Convertible Bond XTF, as further described in the prospectus, are to provide holders with (i) quarterly cash distributions, and (ii) the opportunity for capital appreciation by investing on a capitalization weighted basis in a portfolio (the “Convertible Bond Portfolio”) of Convertible Bonds of Canadian issuers. Inclusion of a Convertible Bond in the Convertible Bond Portfolio is based upon the following criteria: (i) minimum market capitalization outstanding of $50 million; (ii) minimum trailing 30 day average daily volume traded of $150 thousand; (iii) publicly traded on a stock exchange in Canada; (iv) not currently in default of payment of either interest or principal; and (v) at least 31 days to maturity (either term or next call).
Source: ETFWorld - TMX