XShares Advisors, a registered investment adviser and commodity pool operator, has decided to liquidate AirShares EU Carbon Allowances Fund as of 31 July 2009 and subsequently dissolve
XShares Advisors, a registered investment adviser and commodity pool operator, has decided to liquidate AirShares EU Carbon Allowances Fund as of 31 July 2009 and subsequently dissolve the fund.
XShares Advisors says it has considered current market conditions and determined that, as a result of the fund’s small size, inability to attract significant market interest since its inception, future viability, and the prospects for growth in the fund’s assets, it was advisable and in the best interests of the fund and its shareholders to liquidate the fund.
The last day of trading for the fund’s Shares on NYSE Arca and the last day on which creation unit aggregations of fund shares may be purchased or redeemed will be 31 July.
NYSE Arca will halt trading in the shares of the fund before the open of trading on 3 August 2009, and the fund will be closed to new investment on that date.
Shareholders may sell their shares on or prior to 31 July. All sales of shares to a broker-dealer, whether before or after 31 July, will be subject to typical transaction fees and charges.
All shareholders of record remaining on 31 July will receive cash equal in the amount of the net asset value of their shares as of 31 July, which will include any capital gains and dividends into the cash portion of their brokerage accounts.
Effective immediately, the fund will begin the process of liquidating its portfolio. As a result, the fund will no longer pursue its investment objective. Transaction costs incurred by the fund in liquidating its portfolio will be reflected in the fund’s net asset value.