Bringing you live news and features since 2006 

Russell sets schedule to close Equity ETF

RELATED TOPICS​

The Board of Trustees of Russell Exchange Traded Funds Trust has authorised the orderly termination and liquidation of the Russell Equity ETF (ONEF) on or before 6 February, 2015.

The fund will be closed to new investment on 26 January, 2015. NYSE Arca, Inc will suspend trading in the Fund before the open of trading on 27 January, 2015. Full liquidation of the Fund is intended to be completed by 6 February, 2015.

 
Russell is closing and liquidating the Russell Equity ETF because this product hasn’t generated the amount of interest as projected and as a result Russell believes it is in the best interests of shareholders to close it. While Russell is liquidating the Fund, it does not mean Russell is abandoning the ETF market. Russell continues to offer ETFs in the Australian market and believes the active US ETF market still presents viable and important investment opportunities.
 
On 27 January, 2015, the Fund will commence the process of liquidating its assets and, consequently, will not be pursuing its investment objective. During the liquidation period between 27 January, 2015 and 6 February, 2015, the Fund will not carry on any business, except for the purposes of winding up its affairs and distributing investment income, capital gains and assets to shareholders.
 
Shareholders may sell their holdings on NYSE Arca through 26 January, 2015, incurring any applicable transaction fees from their broker-dealer. All shareholders remaining in the Fund at the time of liquidation will receive cash equal to the amount of the net asset value of their Fund shares as of 27 January, 2015, which will include any capital gains and dividends, into the cash portion of their brokerage accounts.
 
Shareholders receiving the final liquidation cash distribution will not incur transaction fees from their broker-dealer in connection with this distribution or the cancellation of their Fund shares. Moreover, shareholders will not bear any expenses associated with the liquidation of the Fund other than bearing indirectly the portfolio transaction costs incurred in liquidating the Fund’s assets in advance of the Fund’s closure.

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
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