WBI Investments, Inc., a leading provider of wealth-building strategies targeting an optimal blend of bear market protection and bull market return, today announced that it will close and liquidate 2 exchange-traded funds.
WBI’s commitment to responding to investors’ needs includes a regular review of its product lineup, which has led to a decision to liquidate the following funds: WBI BullBear Global High Income ETF (WBIH) and
WBI BullBear Global Rotation ETF (WBIR).
June 7, 2019 will be the Funds’ last full day of trading on NYSE Arca, Inc. Effective as of the close of business on June 7, 2019, the Funds will no longer accept orders for the purchase of Creation Units. Beginning when the Funds commence the liquidation of their portfolios, the Funds may not pursue their respective investment objectives or, with certain exceptions, engage in normal business activities, and each Fund may hold cash and securities that may not be consistent with that Fund’s investment objective and strategy.
The liquidation date for the Funds will be on or about June 14, 2019 (Liquidation Date). NYSE Arca is expected to halt trading in shares of each Fund after the market close on June 7, 2019. There can be no assurance that there will be a market for the purchase or sale of Fund shares during the time between the market close on June 7, 2019 and the Liquidation Date, because Fund shares will not be traded on NYSE Arca. Shareholders of each Fund may sell their shares of the Fund on NYSE Arca until the market close on June 7, 2019, and may incur customary transaction fees from their broker-dealer in connection with such sales. Prior to the Liquidation Date, Authorized Participants may continue to submit orders to the Funds for the redemption of Creation Units.
In connection with the liquidations, any shares of a Fund outstanding on the Liquidation Date will be automatically redeemed as of the close of business on the Liquidation Date without the imposition of customary redemption transaction fees. The proceeds of any such redemption will be equal to the net asset value of such shares after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities, including certain operational costs of liquidating the Fund. The distribution to shareholders of these liquidation proceeds will occur as soon as practicable, and will be made to all Fund shareholders at the time of the liquidations.