NEW YORK, Sept. 14, 2018 /PRNewswire/ -- Global X Funds, the New York-based exchange-traded funds provider, today announced the scheduled liquidation of the Global X Iconic U.S. Brands ETF (CBOE: LOGO) based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients.
Shareholders may sell their holdings in the fund prior to the end of the trading day on Friday, September 28, 2018, and customary brokerage charges may apply to these transactions. The Fund will cease trading at the end of the trading day on Friday, September 28, 2018. Effective immediately, the Fund no longer will accept creation orders. The Fund will liquidate on or around Friday, October 5, 2018. Any person holding shares in the Fund as of the liquidation date will receive a cash distribution equal to the net asset value of their shares as of that date. Global X Management Company LLC, the adviser to the Fund, will bear all fees and expenses that may be incurred in connection with the liquidation of the Fund and the distribution of cash proceeds to investors, other than brokerage fees and other related expenses. The Fund represents less than 1% of the assets of Global X Funds.
ABOUT GLOBAL X
Seeking to provide access to high-quality and cost-efficient investment solutions, Global X is a New York-based sponsor of exchange-traded funds (ETFs). Founded in 2008, we are distinguished by our smart core, income, alpha, risk management and access suites of ETFs and have more than 50 funds available across U.S. and foreign exchanges. Global X is recognized as a leader in developing intelligent investment solutions for our clients.
Investing involves risk, including possible loss of principal. Narrowly focused investments may exhibit higher volatility. LOGO is non-diversified.
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
Carefully consider the fund's investment objectives, risks, and charges and expenses. This and other information can be found in the fund's full or summary prospectus which may be obtained at globalxfunds.com. Please read the prospectus carefully before investing.
Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Accuvest nor does Accuvest make any representations regarding the advisability of investing in or the suitability of the Global X Funds. Neither SIDCO nor Global X is affiliated with Accuvest.
SOURCE Global X Funds