NEW YORK, Feb. 8, 2016 /PRNewswire/ -- The Board of Trustees of Precidian ETFs Trust has decided to liquidate and shutter the MAXISSM Nikkei 225 Index Fund (the "Fund"), due to the Fund's inability to attract sufficient investment assets. Precidian Funds LLC, the investment advisor to the Fund, believes it cannot continue to conduct the Fund's operations in an economically efficient manner. As a result, the Board concluded that liquidating and shuttering the Fund would be in the best interests of the Fund and its shareholders.
Shares of the Fund will stop trading on the NYSE Arca, Inc., and will no longer be open to purchase by investors, at the close of regular trading on March 11, 2016. Shareholders may sell their holdings in the Fund prior to the closing date, and those transactions are subject to customary brokerage charges. Between the closing date and the liquidation date, shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for the Fund during that time period.
On March 25, 2016, the Fund will liquidate its assets and distribute cash pro rata to shareholders who have not previously redeemed their shares. These payments are taxable and will include any accrued capital gains and dividends. The Fund will close when the distributions are complete.
The process of closing down and liquidating the Fund's portfolio, scheduled to take place between March 12, 2106 and March 25, 2016, will result in the Fund not tracking its underlying index and experiencing an increase in cash holdings. These developments may not be consistent with the Fund's investment objective and strategy.
For more information about the liquidation and termination process, please contact Precidian at 908-781-0560. For media inquiries, please contact Stuart Thomas at 908-781-0560.
Precidian Investments® is an industry leader in the creation of innovative financial products, specializing in exchange-traded fund (ETF) and mutual fund development, and associated trading and pricing technologies. We design and develop next-generation tools for the mutual fund industry, ETF providers and leading financial services institutions to meet the needs of today's more sophisticated investors. Precidian Investments® expertise in product development, trading, clearance, sales, technology, and securities law enables us to more efficiently design and build cutting-edge financial instruments.
There is no guarantee that the Fund will achieve its objectives.
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contains this and other information about the Fund. The prospectus and summary prospectus should be read carefully before investing.
Distributor: Foreside Fund Services, LLC.
Contact: Stuart Thomas 908-781-0560
SOURCE Precidian Investments