Press release
FlexShares Announces Liquidation of Two Exchange Traded Funds
CHICAGO--(BUSINESS WIRE)-- Northern Trust’s FlexShares® Exchange Traded Funds announced the liquidation and termination of two exchange-traded funds:
About this update from Northern Trust Corporation
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nNorthern 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”).\n\nUpon 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.\n\nShareholders 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.\n\nIf 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.\n\nAbout FlexShares\n\nFlexShares 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.\n\nAbout Northern Trust Asset Management\n\nNorthern 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 investme...