WBI Investments, a provider of wealth-building strategies targeting an optimal blend of bear market protection and bull market return, is to close and liquidate two exchange-traded funds with plans to launch additional funds of the Absolute Shares Trust.
WBI’s commitment to responding to investors’ needs includes a regular review of its product lineup, which has led to a decision to liquidate the following funds: WBI BullBear Global High Income ETF (WBIH) and WBI BullBear Global Rotation ETF (WBIR). WBI intends to launch new funds nearly concurrently with the liquidations.
7 June, 2019 will be the funds’ last full day of trading on NYSE Arca. Effective as of the close of business on that date, the funds will no longer accept orders for the purchase of Creation Units. Beginning when the funds commence the liquidation of their portfolios, the funds may not pursue their respective investment objectives or, with certain exceptions, engage in normal business activities, and each Fund may hold cash and securities that may not be consistent with that fund’s investment objective and strategy.
The liquidation date for the funds will be on or about 14 June, 2019 (Liquidation Date). NYSE Arca is expected to halt trading in shares of each fund after the market close on 7 June, 2019. There can be no assurance that there will be a market for the purchase or sale of Fund shares during the time between the market close on 7 June, 2019 and the Liquidation Date, because fund shares will not be traded on NYSE Arca. Shareholders of each fund may sell their shares of the fund on NYSE Arca until the market close on 7 June, 2019, and may incur customary transaction fees from their broker-dealer in connection with such sales. Prior to the Liquidation Date, Authorised Participants may continue to submit orders to the Funds for the redemption of Creation Units.