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Active Alts to close ETF

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Active Alts is closing and liquidating the Active Alts Contrarian ETF (SQZZ).

The Fund will begin liquidating its portfolio and will invest in cash equivalents until all shares have been redeemed. This process will result in the Fund increasing its cash holdings, which is inconsistent with the Fund’s investment objective and strategy. The last date for authorised participants to create and redeem units in SQZZ will be 25 May 2018. The Fund will cease trading on the NASDAQ and will be closed to purchase by investors as of the close of regular trading on the NASDAQ on 25 May 2018 (the “Closing Date”). The Fund will not accept purchase or redemption orders after the Closing Date.
 
Shareholders may sell their holdings in the Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. However, from Closing Date through to 30 May 2018 (the “Liquidation Date”), there will likely be no market for the Fund’s shares.
 
On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all shareholders who have not previously redeemed or sold their shares. The liquidation of the Fund will be a taxable event for shareholders that do not hold shares through tax-advantaged arrangements. These payments to shareholders may include accrued capital gains and dividends. As calculated on the Liquidation Date, the Fund’s net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Fund will terminate.

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