Bringing you live news and features since 2006 


Factor Advisors closes PureFund ISE Diamond/Gemstone and ISE Mining Service ETFs


Factor Advisors is closing and liquidating the PureFunds ISE Diamond/Gemstone ETF (GEMS) and the PureFunds ISE Mining Service ETF (MSXX) in a move aimed at benefiting shareholders.

At the recommendation of Factor Advisors and PureShares, the business manager to the funds, the board of trustees of FactorShares Trust has approved the closing and subsequent liquidation of GEMS and MSXX.
Accordingly, each fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders on or about 24 January 2014.
The last day of trading of shares of the funds on the NYSE Arca will be 23 January. Following the last day of trading and prior to the liquidation date, shareholders will not be able to purchase or redeem shares from the funds and will be unable to purchase or sell them in the secondary market. Prior to the last day of trading, shareholders may continue to purchase and sell fund shares through a broker in the standard manner.
Customary brokerage charges may apply to such transactions. Effectively immediately, each fund will increase its cash holdings in contemplation of its liquidation. As a result, through the liquidation date, each fund will deviate from its investment objective and strategies, as stated in the fund’s prospectus, as it winds up its business and affairs.

Latest News

Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..
As the ETF industry reaches a milestone of USD12.71 trillion in global assets, Brown Brothers Harriman writes that its 2024..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by