Northern Trust’s FlexShares® Exchange Traded Funds announced the liquidation and termination of two exchange-traded funds: FlexShares Currency Hedged Morningstar DM ex-US Factor Tilt Index Fund (TLDH) and FlexShares Currency Hedged Morningstar EM Factor Tilt Index Fund (TLEH). It is expected that the Funds will be liquidated on or about January 29, 2021 (the “Liquidation Date”).
Upon the close of business on or about January 15, 2021, each Fund will discontinue accepting orders for the purchase of creation units, and trading in shares of the Funds is expected to be halted on the NYSE Arca, Inc. Shareholders may sell shares of the Funds on NYSE Arca until market close on or about January 15, 2021, and may incur the usual and customary brokerage commissions associated with such sales.
Shareholders who continue to hold shares of a Fund on the Liquidation Date will receive a cash distribution equal to their interest in the net assets of the Fund as of the Liquidation Date, which will include any dividends or distributions declared as of that date. Those shareholders remaining in a Fund on the Liquidation Date will not be charged any transaction fees by the Fund, but the net asset value of the Fund on the Liquidation Date will reflect trading costs associated with the sale of portfolio securities of the Fund.
If Fund shareholders sell their shares or receive a liquidating distribution, it is generally considered a taxable event and they should consult their tax advisor about the potential tax consequences.
FlexShares Exchange Traded Funds are designed to pursue specific investment goals across both passive and active strategies. FlexShares offers differentiated ETF strategies that can improve and simplify the investment decision process for the long-term investor. Follow us on Twitter @FlexSharesETFs.
About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments, so they can confidently realize their long-term objectives. Entrusted with US$1.0 trillion of investor assets as of September 30, 2020, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect, and transparency.
Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Belvedere Advisors LLC, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2020, Northern Trust had assets under custody/administration of US $13.1 trillion, and assets under management of US $1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
Before investing, carefully consider the FlexShares investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting www.flexshares.com. Read the prospectus carefully before you invest.
Foreside Fund Services, LLC, distributor.
An investment in FlexShares is subject to numerous risks, including possible loss of principal. Fund returns may not match the return of the respective indexes. The Funds are subject to the following principal risks: asset class; commodity; concentration; counterparty; currency; derivatives; dividend; emerging markets; equity securities; fluctuation of yield; foreign securities; geographic; income; industry concentration; inflation-protected securities; infrastructure-related companies; interest rate / maturity risk; issuer; large cap; management; market; market trading; mid cap stock; MLP; momentum; natural resources; new funds; non-diversification; passive investment; privatization; small cap stock; tracking error; value investing; and volatility risk. A full description of risks is in the prospectus.