Causeway ETMF Trust to Liquidate Two Exchange-Traded Managed Funds
12 April 2019 - 3:00PM
Business Wire
Causeway International Value NextShares and
Causeway Global Value NextShares to be Liquidated on or about May
13, 2019
Causeway Capital Management LLC today announced that the Board
of Trustees of Causeway ETMF Trust has approved the liquidation of
Causeway International Value NextShares ($4.5 million in net
assets) and Causeway Global Value NextShares ($4.8 million in net
assets), each a series of Causeway ETMF Trust, on or about May 13,
2019.
Effective the close of business on April 15, 2019, the funds
will no longer accept creation unit purchase orders. The last day
of secondary market trading on NASDAQ in the funds’ shares is
expected to be after markets close on May 6, 2019.
Beginning when the funds’ commence liquidation of their
portfolios, the funds may not pursue their investment objectives or
engage in normal business activities, except for the purposes of
winding up business and affairs, preserving the value of assets,
paying liabilities, and distributing remaining assets to
shareholders. During the time between market close on May 6, 2019
and the liquidation date, because the funds’ shares will not be
traded on NASDAQ, there can be no assurance that there will be a
market for the purchase or sale of the funds’ shares.
In connection with the liquidation, any shares of a fund
outstanding on the liquidation date will be automatically redeemed
as of the close of business by Causeway ETMF Trust on that date
without the imposition of any customary redemption fees. The
proceeds of such redemption will be the net asset value of shares
after all charges, taxes, expenses and liabilities of each fund has
been paid or provided for. It is expected that the distribution to
the funds’ shareholders of the proceeds will be paid in cash to all
shareholders of record on the liquidation date.
Prior to the halt of secondary market trading on NASDAQ,
shareholders of the funds may sell their shares through a broker in
the standard manner. Customary brokerage charges may apply to such
transactions. Prior to the liquidation date, firms that are
authorized participants may continue to submit orders to each fund
for the redemption of creation units.
For shares held in taxable accounts, whether a shareholder sells
his or her shares or is automatically redeemed, the shareholder
will generally recognize a capital gain (or loss) equal to the
amount received for the shares above (or below) the adjusted cost
basis in such shares.
If you have any questions regarding the liquidation, please
contact the funds at 1-866-947-7000.
About Causeway
Causeway Capital Management LLC, the investment adviser of
Causeway ETMF Trust, is an employee owned investment management
firm based in Los Angeles, California, specializing in managing
global, international, emerging markets and absolute return
equities. As of March 31, 2019, Causeway managed $53.5 billion
worldwide for clients including corporations, pension plans,
sovereign wealth funds, superannuation funds, public retirement
plans, Taft-Hartley pension plans, endowments and foundations,
mutual funds and other collective investment vehicles, charities,
private trusts and funds, wrap fee programs, and other
institutions.
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version on businesswire.com: https://www.businesswire.com/news/home/20190412005005/en/
Media:Tucker Hewes, Hewes Communications, Inc.(212)
207-9451tucker@hewescomm.com
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