Home etfexpress.com StrongVest Global Advisors to close ETF

StrongVest Global Advisors to close ETF

StrongVest Global Advisors is to terminate the CWA Income ETF (CWAI) effective at the close of business on 30 August, 2019. Due to CWAI’s inability to attract sufficient investment assets, StrongVest Global Advisors, LLC believes that CWAI cannot conduct business and operations in an economically efficient manner. As a result, StrongVest Global Advisors, LLC concluded that liquidating and closing CWAI would be in the best interests of CWAI and its shareholders.Shares of CWAI will stop trading on the Cboe BZX Exchange and will no longer be open to purchase by investors at the close of regular trading on the Closing Date. Shareholders may sell their holdings in CWAI prior to the Closing Date, and those transactions may be subject to customary brokerage charges. Between the Closing Date and 12 September, 2019 (the “Liquidation Date”), shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance there will be a market for CWAI during that time period. Between the Closing Date and the Liquidation Date, CWAI will be in the process of closing down and liquidating its portfolio. This process will result in CWAI increasing its cash holdings and, which may not be consistent with CWAI’s investment objective and strategy.On or about the Liquidation Date, CWAI will liquidate its assets and distribute cash pro rata to all remaining shareholders who have not previously redeemed or exchanged their shares. Any remaining shareholders of CWAI as of the Closing Date will receive the net proceeds from the liquidations of the assets, less all liabilities and all expenses incurrent in connection with the dissolution of CWAI, on a pro-rata basis. Once the distributions are complete, CWAI will terminate.

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