ALPS is to liquidate four Funds in the ALPS ETF Trust – the ALPS Sector Leaders ETF (SLDR), ALPS Sector Low Volatility ETF (SLOW), ALPS STOXX Europe 600 ETF (STXX) and Global Commodity Equity ETF (CRBQ).
All four will close to new investors on 23 March, 2016 and liquidate on 28 March, 2016.
The decision to close the funds was made by the ALPS ETF Trust’s Board of Trustees after consultation with ALPS Advisors, the investment advisor to the Funds. On consideration of current market conditions, as well as prospects for growth in the Funds’ assets, the Board determined that it was in the best interests of the Funds and their shareholders to liquidate the Funds’ shares, which are listed on the NYSE ARCA. The last day of trading for the Funds is scheduled to be Thursday, 24 March, 2016.
The Funds will immediately begin the process of closing down and liquidating their portfolios. The process will result in the Funds not tracking their underlying indexes and their cash holdings increasing, which may be inconsistent with the Funds’ investment objectives and strategies. There can be no assurance that there will be a market for the Funds’ shares between the last day of trading on NYSE Arca (24 March, 2016) and the liquidation date (28 March, 2016).
Any person holding shares in the Funds as of the liquidation date will receive a cash distribution equal to the net asset value of their shares. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Funds. A portion of the distribution may represent an ordinary income dividend or a capital gain distribution.