First Asset to close Can-Energy Covered Call ETF

Dec 29th, 2017 | By | Category: Alternatives / Multi-Asset

First Asset Investment Management has announced that the First Asset Can-Energy Covered Call ETF (OXF CN) is to close. The fund, currently listed on Toronto Stock Exchange, will be de-listed on 15 February 2018.

First Asset to close Can-Energy Covered Call ETF

OXF is scheduled to be delisted on 15 February 2018.

OXF provides exposure to Canadian energy companies while minimizing volatility and generating an attractive income stream through an actively managed covered call writing strategy. The largest 25 issuers from within the S&P/TSX Capped Energy Index are chosen for inclusion in the ETF on an equally weighted basis.

Distributions are paid quarterly, and no more than 25% of the portfolio’s securities will have call options written upon them at any given time. The fund has a management expense ratio of 0.65%.

OXF has struggled to garner support from investors and currently has just $5.2 million in assets under management.

First Asset said that the “net assets of the fund will be liquidated and the proceeds therefrom distributed pro rata among holders of record of the fund on the termination date. It is expected that final payment of the termination proceeds will be made on or about 20 February 2018.”

Tags: , , , , , , ,

Leave a Comment



More in Alternatives / Multi-Asset
Maz Jadallah, CEO of AlphaClone
AlphaClone makes changes to two ETFs

AlphaClone and Exchange Traded Concepts have announced that two AlphaClone-branded ETFs will undergo a change in fees, underlying index exposure,...

Dr. Richard Michaud, CEO of New Frontier Advisors.
New Frontier Advisors launches ETF-based global balanced index

New Frontier Advisors has unveiled the New Frontier Global Balanced Index tracking the performance of a global multi-asset risk-managed portfolio....

Close