Emerging Global Advisors (EGA), the investment advisor to the EGShares exchange-traded funds it to close two funds representing less than 2 per cent of the firm’s assets under management.
"We regularly review our lineup of Funds as part of our commitment to helping investors with their portfolio allocations to emerging markets," says EGA President and Founder Robert C Holderith. "These Fund closures provide an opportunity to further streamline our product offering."
Trading on the NYSE Arca for the shares of EGShares Blue Chip ETF (BCHP) and EGShares Brazil Infrastructure ETF (BRXX) will be suspended prior to the open of business on Monday, 2 November, 2015. Shareholders may sell their holdings on or before Friday, 30 October, 2015 and may incur customary brokerage charges. Shareholders who do not sell their holdings on or before Friday, 30 October, 2015 will receive cash equal to the amount of the net asset value of their shares. The liquidating distributions are expected to be paid on or about Friday, 6 November, 2015. The Advisor will bear all legal and administrative expenses associated with these Fund closures.
