TORONTO, Sept. 24, 2019 /CNW/ - Evolve Funds Group Inc. ("Evolve" or the "Manager") announces that it will terminate Evolve Active US Core Equity Fund (TSX: CAPS) and Evolve Active Short Duration Bond Fund (TSX: TIME) on or about November 29, 2019 (the "Termination Date"). The Manager will request the Toronto Stock Exchange ("TSX") to de-list the units of the Funds from the TSX on or about November 27, 2019, with all units still held by investors being subject to a mandatory redemption as of the Termination Date. Effective October 25, 2019, no further subscriptions for units of the Funds will be accepted.
Prior to the Termination Date, the Manager will, to the extent reasonably possible, convert the assets of each Fund to cash and after paying or making adequate provision for all of the Fund's liabilities, as soon as practicable following the Termination Date distribute the net assets of the Funds pro rata among the unitholders of record of the applicable Fund on the Termination Date.
Evolve will issue an additional press release on or about the Termination Date confirming final details of the terminations. Further details of termination have also been mailed to unitholders of the applicable Funds.
Commissions, management fees and expenses all may be associated with exchange traded funds ("ETFs") and mutual funds. Please read the prospectus before investing. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to ETFs and mutual funds. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
About Evolve Funds Group Inc.
Evolve is one of Canada's fastest growing ETF providers since launching its first suite of ETFs via the Toronto Stock Exchange in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, we create investment products that make a difference. For more information, please visit www.evolveetfs.com.
SOURCE Evolve ETFs