FlexShares Announces Liquidation of an Exchange Traded Fund
06 April 2024 - 12:00AM
Business Wire
Northern Trust’s FlexShares Exchange Traded Funds announced the
liquidation and termination of the FlexShares ESG & Climate
Emerging Markets Core Index Fund (Ticker: FEEM) (the “Fund”). Prior
to and through the close of regular trading (the “Close of
Trading”) on the NYSE Arca, Inc. (“NYSE Arca”) on or about April
23, 2024 (the “Closing Date”), the Fund will undertake the process
of closing down and liquidating its portfolio.
Upon the close of business on or about April 19, 2024, the Fund
will discontinue accepting orders for the purchase of creation
units. Trading of the Fund’s shares will be suspended prior to the
open of regular trading (i.e., 9:30 a.m., Eastern time) on the NYSE
Arca on April 24, 2024. Accordingly, the final date of trading of
the Fund’s shares on the NYSE Arca will be April 23, 2024.
Shareholders may sell their shares on or before the Close of
Trading on April 23, 2024, and may incur customary brokerage
charges associated with such sales.
Shareholders who do not sell their shares on or before the Close
of Trading on April 23, 2024, will receive cash equal to the amount
of the net asset value of their shares calculated as of the close
of business on the Closing Date. Proceeds of the liquidation are
currently expected to be sent to shareholders on or about April 30,
2024. Those shareholders remaining in the Fund on the Closing Date
will not be charged any transaction fees by the Fund, but the net
asset value of the Fund on the Closing Date will reflect trading
costs associated with the sale of portfolio securities of the
Fund.
If Fund shareholders sell their shares or receive a
liquidating distribution, it is generally considered a taxable
event and they should consult their tax advisor about the potential
tax consequences.
About FlexShares
FlexShares Exchange Traded Funds are designed to pursue specific
investment goals across both passive and active strategies.
FlexShares offers differentiated ETF strategies that can improve
and simplify the investment decision process for the long-term
investor. Visit us on FlexShares.com.
About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager
that helps investors navigate changing market environments in
efforts to realize their long-term objectives. Entrusted with $1.18
trillion in assets under management as of December 31, 2023, we
understand that investing ultimately serves a greater purpose and
believe investors should be compensated for the risks they take —
in all market environments and any investment strategy. That’s why
we combine robust capital markets research, expert portfolio
construction and comprehensive risk management in an effort to
craft innovative and efficient solutions that seek to deliver
targeted investment outcomes. As engaged contributors to our
communities, we consider it a great privilege to serve our
investors and our communities with integrity, respect and
transparency.
Northern Trust Asset Management is composed of Northern Trust
Investments, Inc., Northern Trust Global Investments Limited,
Northern Trust Fund Managers (Ireland) Limited, Northern Trust
Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South
Capital Advisors, LLC, Northern Trust Asset Management Australia
Pty Ltd, and investment personnel of The Northern Trust Company of
Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of December 31, 2023, Northern Trust had assets under
custody/administration of US$15.4 trillion, and assets under
management of US$1.4 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
Before investing, carefully consider the FlexShares
investment objectives, risks, charges and expenses. This and other
information is in the prospectus and a summary prospectus, copies
of which may be obtained by visiting www.flexshares.com. Read the
prospectus carefully before you invest.
Foreside Fund Services, LLC, distributor. FlexShares and
Foreside are not related.
An investment in FlexShares is subject to numerous risks,
including possible loss of principal. Fund returns may not match
the return of the respective indexes. A full description of risks
is in the prospectus. They do not typically grow at an even rate of
return and may experience negative growth. As with any type of
portfolio structuring, attempting to reduce risk and increase
return could, at certain times, unintentionally reduce returns. An
ESG investment methodology that includes and excludes issuers and
assigns weights to issuers by applying non-financial factors, such
as ESG factors, such ESG investment methodology may underperform
the broader equity market or other investment products that do or
do not use ESG investment criteria.
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version on businesswire.com: https://www.businesswire.com/news/home/20240405152609/en/
Doug Holt 312-557-1571 Doug.Holt@ntrs.com
Northern (NASDAQ:NTRS)
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