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

Digital asset manager CoinShares International Limited has announced the launch of its hedge fund division, CoinShares Hedge Fund Solutions...
Despite a small contraction in assets caused by a complex market and macroeconomic scenario in Europe and at the global..
State Street Global Advisors, the asset management business of State Street Corporation, has published the results of its Gold ETF..
HANetf has announced that Sprott Uranium Miners UCITS ETF (URNM) has reached USD108.18 million AUM for the first time since..

Related Articles

Kristof Gleich, Harbor Capital
Harbor Capital burst onto the ETF issuance world in 2021 and now has USD1.1 billion in assets in ETFs. But...
Europe’s thematic ETF provider, Rize ETF, has been acquired by ARK Invest LLC, the parent of ARK Investment Management LLC,...
Jeff Ringdahl, Resolute Investment Management
End of August saw the launch of alternatives firm Man Group’s first ETF, using its AHL systematic trading system to...
Arne Noack, DWS
July saw the launch of DWS Group’s Xtrackers US Green Infrastructure Select Equity ETF (NASDAQ: UPGR) designed to offer both...
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