First Asset Investment Management, manager of the First Asset family of ETFs, plans to eliminate all advisor-class units of its ETFs.

First Asset says advisor class units are currently only available on certain ETFs it offers (they’re denoted by .A, .D or .V after their ticker symbols). The advisor class units represent less than 2% of First Asset’s ETF AUM and, in a release, the company says it “anticipates the changing regulatory environment will continue to reduce the demand for these units.”

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As of April 28, 2017, conversions from common class units to advisor class units will no longer be available, says First Asset. And, on or about July 7, 2017, the company will reduce the annual management fee on the advisor-class units. Then, either concurrently or as soon as possible, it will convert all advisor class units into the corresponding common class units of the same ETF, subject to approvals.

Here’s the list of affected funds:

Name Ticker(s)
1. First Asset Canadian Convertible Bond ETF CXF.A
2. First Asset 1-5 Year Laddered Government Strip Bond Index ETF BXF.A
3. First Asset Can-Energy Covered Call ETF OXF.A
4. First Asset Can-Materials Covered Call ETF MXF.A
5. First Asset Tech Giants Covered Call ETF TXF.A
6. First Asset Energy Giants Covered Call ETF NXF.A

NXF.D
7. First Asset European Bank ETF FHB.A
8. First Asset U.S. & Canada Lifeco Income ETF FLI.A
9. First Asset Active Canadian Dividend ETF FDV.A
10. First Asset Active Utility & Infrastructure ETF FAI.A
11. First Asset Canadian REIT ETF RIT.A
12. First Asset Morningstar Canada Dividend Target 30 Index ETF DXM.A
13. First Asset Morningstar US Dividend Target 50 Index ETF UXM.A

UXM.D
14. First Asset Morningstar Canada Momentum Index ETF WXM.A
15. First Asset Morningstar US Momentum Index ETF YXM.A

YXM.D
16. First Asset Morningstar Canada Value Index ETF FXM.A
17. First Asset Morningstar US Value Index ETF XXM.A

XXM.D
18. First Asset Morningstar International Value Index ETF VXM.A

VXM.D
19. First Asset Morningstar International Momentum Index ETF ZXM.A

ZXM.D
20. First Asset Morningstar National Bank Québec Index ETF QXM.A
21. First Asset MSCI Canada Low Risk Weighted ETF RWC.A
22. First Asset MSCI USA Low Risk Weighted ETF RWU.A

RWU.D
23. First Asset MSCI Europe Low Risk Weighted ETF RWE.A

RWE.D
24. First Asset MSCI World Low Risk Weighted ETF RWW.A

RWW.D
25. First Asset Active Credit ETF FAO.A

FAO.V
26. First Asset Core Canadian Equity ETF CED.A
27. First Asset Core U.S. Equity ETF CES.A

CES.D

CES.V