ALPS, a subsidiary of DST Systems, Inc. (NYSE: DST) providing products and services to the financial services industry, today announced the liquidation of 4 Funds of the ALPS ETF Trust:
ALPS Sector Leaders ETF (NYSE ARCA: SLDR),
ALPS Sector Low Volatility ETF (NYSEARCA: SLOW),
ALPS STOXX Europe 600 ETF (NYSE ARCA: STXX) and
Global Commodity Equity ETF (NYSE ARCA: CRBQ).
The Funds will close to new investors on March 23, 2016 and liquidate on March 28, 2016.
The decision to close the Funds was made by the ALPS ETF Trust’s Board of Trustees after consultation
with ALPS Advisors, Inc., the investment advisor to the Funds. On consideration of current market conditions, as well as prospects for growth in the Funds’ assets, the Board determined that it was in the
best interests of the Funds and their shareholders to liquidate the Funds’ shares, which are listed on the NYSE ARCA. The last day of trading for the Funds is scheduled to be Thursday, March 24, 2016.
The Funds will immediately begin the process of closing down and liquidating their portfolios. The process will result in the Funds not tracking their underlying indexes and their cash holdings increasing, which may be inconsistent with the Funds’ investment objectives and strategies. There can be no assurance that there will be a market for the Funds’ shares between the last day of trading on NYSE Arca (March 24, 2016) and the liquidation date (March 28, 2016).
Any person holding shares in the Funds as of the liquidation date will receive a cash distribution equal to the net asset value of their shares. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Funds. A portion of the distribution may represent an ordinary income dividend or a capital gain distribution.