NEW YORK, March 26, 2015 /PRNewswire/ -- The Board of
Trustees of the Source ETF Trust has decided to close and liquidate
the Source EURO STOXX 50 ETF (NYSE: ESTX), which is managed and
marketed by Source Exchange Traded Investments, LLC.
The last day of trading of the Fund's shares on the NYSE Arca
will be April 10, 2015. Shareholders
may sell Fund shares through a broker in the standard manner
through this date. Customary brokerage charges may apply to such
transactions. The Fund will be closed to new investors as of
April 10, 2015. Between April 10, 2015 and April
17, 2015, the Fund will be in the process of liquidating its
portfolio assets. This will cause the Fund to increase its cash
holdings and deviate from the investment objective and strategies
stated in the prospectus.
Shareholders remaining in the Fund on April 10, 2015 will have their shares redeemed
automatically and will receive cash in an amount equal to the net
asset value of their shares as of the close of business on
April 17, 2015. This amount includes
any accrued capital gains and dividends. Shareholders remaining in
the Fund on April 10, 2015 will not
be charged any transaction fees by the Fund.
Whether shares are sold or are automatically redeemed, they will
generally recognize a capital gain (or loss) equal to the amount
received for shares above (or below) or adjusted cost basis in such
shares.
Earlier this year, on 12 January
2015, Source Exchange Traded Investments LLC, along with
Source ETF Trust and Fund Source (US) LLC, filed an application for
exemptive relief in relation to managing passive funds.
For additional information, please call (844) 376-8723 or visit
www.sourceetf.com.
Carefully consider the Funds' investment objectives, risk
factors, charges, and expenses before investing. This and
additional information can be found in the Funds' prospectus, which
may be obtained by calling (844) 376-8723, or by visiting
www.sourceetf.com. Read the prospectus carefully before
investing.
This information is not an offer to sell or a solicitation of an
offer to buy shares of any Fund to any person in any jurisdiction
in which an offer, solicitation, purchase or sale would be unlawful
under the securities laws of such jurisdiction.
Investing involves risk, including the possible loss of
principal. In addition to the normal risks associated with
investing, narrowly focused investments typically exhibit higher
volatility.
The Source EURO STOXX 50 ETF is distributed by Fund Source (US),
LLC.
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SOURCE Exchange Traded Concepts, LLC