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FFCM Announces Management Fee Reductions and Expense Limitations

December 5, 2018

BOSTON, Dec. 05, 2018 (GLOBE NEWSWIRE) -- FFCM, LLC (FFCM) – a Boston-based ETF adviser and asset management firm and wholly-owned subsidiary of AGF Management Limited (AGF) – today announced the reduction of the current management fee and expense limitation for AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) and AGFiQ Hedged Dividend Income Fund (DIVA) effective December 6, 2018.

The management fees for BTAL and DIVA will each be lowered by 0.05%, to 0.45% per annum and the expense limitations will be lowered for each ETF by 0.30% to limit ordinary operating expenses (including management fees) at 0.45% per annum1.

The reduction simplifies the pricing structure of each ETF, ensuring that overall net expenses of each ETF will be capped at the level of the management fee, 0.45% per annum.

Fund Revised Management Fee Revised Expense Limitation Agreement (including management fees) ----------------------------------------------- ---------------------- ------------------------------------ AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) 0.45% p.a. 0.45% p.a. ----------------------------------------------- ---------------------- ------------------------------------ AGFiQ Hedged Dividend Income Fund (DIVA) 0.45% p.a. 0.45% p.a. ----------------------------------------------- ---------------------- ------------------------------------

“We are excited to announce fee reductions for BTAL and DIVA. These changes simplify the pricing structure of each ETF and ensure that these products continue to be competitively priced. We believe BTAL and DIVA, with their long/short structure are attractive offerings uniquely positioned to potentially provide investors with the risk management they need in the current market environment” said Bill Carey, Chief Executive Officer, FFCM.

In May 2018, AGF successfully completed the acquisition of 100% of FFCM to further strengthen their quantitative investing and ETF platform brought to market under the AGFiQ banner.

“As part of the AGF family, FFCM now has the operational scale and efficiencies to ensure our products continue to be competitively priced and responsive to market trends,” added Carey.

About AGFiQ Asset Management

AGFiQ Asset Management is the quantitative investment platform for AGF powered by an intellectually diverse, multi-disciplined team that combines the complementary strengths of Highstreet Asset Management Inc. (Highstreet), located in London, Ontario and FFCM, LLC (FFCM), located in Boston, Massachusetts and are supported by a team of 20 investment professionals from across AGF and its affiliates, managing AUM of approximately US$5 billion (October 31, 2018). AGFiQ’s portfolio and investment management team has extensive experience in quantitative investing and research with a core investment discipline focused on factor-based investing. AGFiQ is grounded in the belief that investment outcomes can be improved by assessing and targeting the factors that drive market returns.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With over US$28 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Media Contact

Amanda Marchment Director, Corporate Communications 416-865-4160 amanda.marchment@agf.com

1 The Fund’s investment adviser, FFCM LLC (“Adviser”), has contractually agreed to waive the fees and reimburse expenses of the Funds until at least November 1, 2019, so that the total annual operating expenses (excluding interest, taxes, brokerage commissions and other expenses that are capitalized in accordance with generally accepted accounting principles, dividend, interest and brokerage expenses for short positions, acquired funds fees and expenses, and extraordinary expenses) (“Operating Expenses”) of the Funds are limited to 0.45% of average net assets (“Expense Cap”).

Before investing you should carefully consider the Fund’s investment objective, risks, charges, and expenses. This and other information is in the prospectus which can be obtained by visiting www.AGFiQ.com. Please read the prospectuses carefully before you invest.

There is no guarantee that the Funds will achieve their objective. An investment in the Funds is subject to risk including the possible loss of principal amount invested. The risks associated with each Fund are detailed in the prospectus and include tracking error risk, mid-cap risk, industry concentration risk, market neutral style risk, value factor risk, beta factor risk, short sale risk and specific risks related to exchange traded funds. See prospectus for specific risks regarding each sector. There can be no assurance that active trading markets for the Shares will develop or be maintained. There is a risk that the Target Index will not construct a portfolio that limits a Fund’s exposure to general market movements, in which case a Fund’s performance may reflect general market movements. Further, if a portfolio is constructed to limit a Fund’s exposure to general market movements, during a “bull” market, when most equity securities and long-only equity ETFs are increasing in value, a Fund’s short positions will likely cause a Fund to underperform the overall U.S. equity market and such ETFs.

Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at approximately 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.

The owners of Shares may purchase or redeem Shares from the Fund in Creation Units only, and the purchase and sale price of individual Shares trading on an Exchange may be below, at or above the most recently calculated NAV for such shares.

A decision to invest in any such asset should not be made in reliance on any information herein. Indexes cannot be invested in directly. Inclusion of an asset in an index is not a recommendation to buy, sell or hold that asset. Exposure to an asset class represented by an index is available through investable instruments based on that index. We make no assurance that investment products based on an index will accurately track index performance or provide positive investment returns. Risks: There is no guarantee that the strategy will achieve its objective.

Investing involves risk, including possible loss of principal. There is risk that during a “bull” market, when most equity securities and long only strategies are increasing in value, the strategy’s short positions will likely cause the portfolio to underperform the overall U.S. equity market and such strategies. These securities may be more volatile than a broad cross-section of securities, and momentum may be an indicator that a security’s price is peaking. The value of an investment in the strategy may fall, sometimes sharply, and you could lose money by investing in the strategy. The strategy may utilize derivatives and as a result, the strategy could lose more than the amount it invests. When utilizing short selling the amount the strategy could lose on a short sale is potentially unlimited because there is no limit on the price a shorted security might attain. For further risk information, please read the prospectus

Distributor: Foreside Fund Services, LLC

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