Pacer Advisors, Inc. to Close and Liquidate the Pacer Military Times Best Employers ETF (VETS)
MALVERN, Pa.--(BUSINESS WIRE)--Jun 29, 2021--
After careful consideration, the Board of Trustees of Pacer Funds Trust has determined to close and liquidate the Pacer Military Times Best Employers ETF (NASDAQ: VETS) (the “Fund”). Pacer Advisors, Inc. (“Pacer Advisors”) serves as the investment adviser to the Fund.
The Fund will be closed to orders for new creation units as of July 27, 2021 and the last day of trading of the Fund’s shares on the Nasdaq Exchange will be July 27, 2021. From July 16, 2021 through July 27, 2021, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for Fund shares during that time period. Customary brokerage charges may apply to such transactions. The Fund will liquidate on or around July 29, 2021 (the “Liquidation Date”).
Beginning on July 23, 2021, the Fund will be 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 Fund’s prospectus.
On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, the Fund’s net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Fund will terminate.
For additional information, please call (877) 337-0500 or visit www.paceretfs.com.
Pacer ETFs is a strategy-driven exchange-traded fund provider with 35 ETFs and over $7.4 billion in assets under management, as of June 1, 2021. Pacer ETFs is focused on addressing investors’ needs through its six fund families, the Pacer Trendpilot® Series, Pacer Cash Cows Index® Series, Pacer Custom ETF Series, Pacer Leaders ETF Series, Pacer Factor ETF Series and Pacer Swan SOS ETF Series.
Carefully consider the Fund’s investment objective, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s prospectus, which may be obtained by calling (877) 337-0500, or by visiting www.paceretfs.com. Read the prospectus carefully before investing.
An investment in the Funds is subject to investment risk, including the possible loss of principal. Pacer ETF shares may be bought and sold on an exchange through a brokerage account. Brokerage commissions and ETF expenses will reduce investment returns. There can be no assurance that an active trading market for ETF shares will be developed or maintained. The risks associated with these funds are detailed in the prospectus and could include factors such as calculation methodology risk, ETF risks, concentration risk, equity market risk, index criteria risk, international operations risk, market capitalization risk, limited operating history risk, non-diversification risk, passive investment risk, sector risk, tracking risk, and/or special risks of exchange traded funds.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
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CONTACT: Media Contact
Gregory FCA for Pacer ETFs
Ashlee Thomson for Pacer ETFs
KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE
SOURCE: Pacer ETFs
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PUB: 06/29/2021 04:00 PM/DISC: 06/29/2021 04:02 PM