Columbia Beyond BRICs ETF, Columbia EM Quality Dividend ETF, Columbia India Infrastructure ETF and Columbia India Small Cap ETF to Close and Liquidate
BOSTON--(BUSINESS WIRE)--May 15, 2019--
Columbia Beyond BRICs ETF ( NYSE Arca: BBRC ), Columbia EM Quality Dividend ETF ( NYSE Arca: HILO ), Columbia India Infrastructure ETF ( NYSE Arca: INXX ) and Columbia India Small Cap ETF ( NYSE Arca: SCIN ) today announced that each will be closed, and their respective assets will be liquidated to shareholders on or about June 21, 2019, as discussed below.
The last date for authorized participants to transact in creation units of Columbia Beyond BRICs ETF, Columbia EM Quality Dividend ETF, Columbia India Infrastructure ETF and Columbia India Small Cap ETF (the Liquidating ETFs) will be June 14, 2019.
The last day of trading in shares of the Liquidating ETFs on the NYSE Arca exchange is expected to be June 14, 2019, after which the Liquidating ETFs will no longer engage in any business activities except for the purpose of winding up their business affairs, including selling portfolio assets to raise cash for the liquidations, discharging or making reasonable provision for the payment of all their liabilities, and liquidating and distributing their respective remaining assets to Liquidating ETF shareholders.
Shareholders may sell their shares on or before June 14, 2019 and may incur customary brokerage charges. Shareholders who do not sell their shares on or before June 14, 2019 will receive cash equal to the amount of the net asset value of their respective shares as of the close of business on June 21, 2019, which is the date the liquidating distributions are expected to be paid (the Distribution Date). While shareholders’ proportionate interests (i.e., the number of ETF shares owned) in a Liquidating ETF is fixed as of the close of business on June 14, 2019, the value of that interest may fluctuate, including decline, through the Distribution Date. The liquidation distributions will be made in cash. The Liquidating ETFs’ investment manager will bear all out-of-pocket expenses incurred on behalf of each Liquidating ETF attributable to their liquidations.
Please see the Liquidating ETFs’ supplements dated May 15, 2019 for important information regarding these closures. For more information about the liquidation and closure process, please contact Columbia Threadneedle Investments at 888.800.4347.
Investors should carefully consider the investment objectives, risks, charges and expenses of a Fund before investing. To obtain a prospectus containing this and other important information, please call 888.800.4347 or visit columbiathreadneedleus.com/investment-products/exchange-traded-funds/ to view or download a prospectus. Read the prospectus carefully before investing.
ETF shares are not individually redeemable. Investors buy and sell shares on a secondary market. Only market makers or “authorized participants” may trade directly with the ETF, typically in blocks of 50,000 shares.
Investing involves risks, including the risk of loss of principal. Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. The fund is passively managed and seeks to track the performance of an index. The fund may not sell a poorly performing security unless it was removed from the index. There is no guarantee that the index will achieve positive returns. Risk exists that the index provider may not follow its methodology for index construction. Errors may result in a negative fund performance. The fund’s net value will generally decline when the market value of its targeted index declines. Foreign investments subject the fund to risks, including political, economic, market, social and other risks impacting a particular country, as well as to currency instabilities and less stringent financial and accounting standards generally applicable to U.S. issuers. These risks are enhanced for emerging or frontier market issuers. Investment in or exposure to foreign currencies subjects the fund to currency fluctuation and risk of loss. Investments in small- and mid-cap companies involve risks and volatility greater than investments in larger, more established companies. The fund concentrates its investments in issuers of one or more particular industries to the same extent as the underlying index. Concentration in the India region, where issuers tend to be less developed than U.S. issuers, presents increased risk of loss than a fund that does not concentrate its investments. Investments in a narrowly focused sector such as infrastructure may exhibit higher volatility than investments with a broader focus. Although the fund’s shares are listed on an exchange, there can be no assurance that an active, liquid or otherwise orderly trading market for shares will be established or maintained. Active market trading may increase portfolio turnover, transaction costs and tracking error to the targeted index. Dividend quality is not guaranteed and the amount, if any, can vary over time. The fund may have portfolio turnover, which may cause an adverse cost impact. There may be additional portfolio turnover risk as active market trading of the fund’s shares may cause more frequent creation or redemption activities that could, in certain circumstances, increase the number of portfolio transactions as well as tracking error to the Index and as high levels of transactions increase brokerage and other transaction costs and may result in increased taxable capital gains.
Columbia Management Investment Advisers, LLC serves as the investment manager to Columbia Beyond BRICs ETF, Columbia EM Quality Dividend ETF, Columbia India Infrastructure ETF and Columbia India Small Cap ETF. The Columbia ETFs are distributed by ALPS Distributors, Inc., which is not affiliated with Columbia Management Investment Advisers, LLC, or its parent company Ameriprise Financial, Inc. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.
© 2019 Columbia Management Investment Advisers, LLC. All rights reserved.
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SOURCE: Columbia Management Investment Advisers, LLC
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PUB: 05/15/2019 04:21 PM/DISC: 05/15/2019 04:21 PM