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Ameristock to close five Treasury ETFs with insufficient assets

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Ameristock Corporation, the investment adviser for the Ameristock ETF Trust has announced that it plans to liquidate each of the five sub-funds of the trust based on Ryan Treasury indices

Ameristock Corporation, the investment adviser for the Ameristock ETF Trust has announced that it plans to liquidate each of the five sub-funds of the trust based on Ryan Treasury indices because they have failed to attract sufficient assets.

The funds to be closed are the Ameristock/Ryan 1 Year Treasury ETF, the Ameristock/Ryan 2 Year Treasury ETF, the Ameristock/Ryan 5 Year Treasury ETF, the Ameristock/Ryan 10 Year Treasury ETF, and the Ameristock/Ryan 20 Year Treasury ETF. None has more than USD3m in assets, according to the Wall Street Journal.

Ameristock says the board of trustees has ‘determined that closing the funds was in the best interests of the funds and their shareholders because the funds have not gathered sufficient assets to continue their business and operations in an economically viable manner’.

June 10 will be the last day of trading in the funds on the American Stock Exchange, and the last day on which creation unit aggregations of fund shares may be purchased or redeemed. The exchange will halt trading in the funds before the open of trading on June 11.

Over the next eight days the funds will close down and liquidate their portfolios. Shareholders of record remaining on June 19 will receive the net asset value of their shares at that date in cash, including any income or capital gains already recognised by a fund. Redemption at this date will not incur transaction fees but the net asset value of each fund will reflect the transaction costs incurred in liquidating its portfolio.

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