First Trust Announces Approval of Liquidation of First Trust TCW ESG Premier Equity ETF and First Trust Dorsey Wright People’s Portfolio ETF
21 September 2022 - 6:05AM
Business Wire
First Trust Advisors L.P. (“FTA”) announced today approval of
the liquidation of First Trust TCW ESG Premier Equity ETF (NYSE
Arca: EPRE), a series of First Trust Exchange-Traded Fund VIII, and
First Trust Dorsey Wright People’s Portfolio ETF (Nasdaq: DWPP), a
series of First Trust Exchange-Traded Fund (each such series, a
“Fund”).
Based upon the recommendation of FTA, the investment advisor of
the Funds, the Board of Trustees of First Trust Exchange-Traded
Fund VIII and the Board of Trustees of First Trust Exchange-Traded
Fund each unanimously determined that it was in the best interests
of each of EPRE and DWPP, respectively, and their respective
shareholders to liquidate such Fund. Accordingly, the Board of
Trustees of each Fund approved the liquidation of such Fund
pursuant to a plan of liquidation and termination.
Shareholders may sell their holdings in a Fund prior to the end
of the trading day on October 26, 2022. Customary brokerage charges
may apply to these transactions. The last day the Funds will accept
creation and redemption orders is October 26, 2022 and each Fund’s
shares will subsequently be de-listed. The Fund will liquidate on
or around November 1, 2022. Any person holding shares in a Fund as
of October 28, 2022 will receive a cash redemption amount equal to
the net asset value of such shares after the Fund has discharged
and/or made reasonable provisions for the payment of all of its
charges, taxes, expenses and liabilities. Shareholders generally
will recognize a capital gain or loss on any redemption. Each Fund
may pay one or more dividends or other distributions prior to or
along with any redemption payment.
FTA is a federally registered investment advisor and serves as
the Fund’s investment advisor. FTA and its affiliate, First Trust
Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are
privately-held companies that provide a variety of investment
services. FTA has collective assets under management or supervision
of approximately $193 billion as of August 31, 2022 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and SMAs. FTA is the supervisor of the First Trust unit
investment trusts, while FTP is the sponsor. FTP is also a
distributor of mutual fund shares and exchange-traded fund creation
units. FTA and FTP are based in Wheaton, Illinois.
Each Fund’s daily closing price and net asset value per share as
well as other information can be found at www.ftportfolios.com.
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