NEW YORK--(BUSINESS WIRE)--VanEck announced on September 8, 2016 that it planned to close and liquidate two of its ETFs: VanEck Vectors Gulf States Index ETF (MES) and VanEck Vectors Indonesia Small-Cap ETF (IDXJ) (together the “Closing Funds”).
On September 7, 2016, the Board of Trustees of VanEck Vectors ETF Trust approved the liquidation and dissolution of the Closing Funds. VanEck announced today that it has extended the day that the Closing Funds will cease trading on NYSE Arca Inc. (‘NYSE Arca”) from September 28, 2016 to Friday, October 7, 2016.
Shareholders of the Closing Funds may sell their holdings on NYSE Arca until market close on October 7, 2016, and they may incur typical transaction fees from their broker-dealer. The Closing Funds’ shares will no longer trade on NYSE Arca after market close October 7, 2016, and the shares will subsequently be de-listed. Shareholders who continue to hold shares of any of the Closing Funds on the Closing Funds’ liquidation date, which is expected to be on or about October 14, 2016, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares. Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about October 14, 2016, although this may occur prior to or later than this date. For tax purposes, shareholders will generally recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares. The Funds will stop accepting creation orders from Authorized Participants on October 7, 2016.
In addition, shareholders who hold shares of the Closing Funds may receive a final distribution of net income and capital gains earned by the Closing Funds and not previously distributed prior to liquidation.
The final tax status of distributions made by the Closing Funds, including the liquidating distribution, will be provided to shareholders with the year-end tax reporting for the Closing Funds (including any portion which may be treated as a return of capital for tax purposes, reducing a shareholder’s basis in such shares).
If you have any questions concerning this information or the VanEck Vectors ETFs in general, please call 800.826.2333 between 9:00 a.m. and 5:30 p.m., Monday through Friday.
VanEck’s mission is to offer intelligently designed investment strategies that take advantage of targeted market opportunities. Founded in 1955, the firm is a pioneer in global investing with a history of placing clients’ interests first in all market environments. Today, VanEck continues this tradition by offering innovative active and passive investment portfolios in hard assets, emerging markets equity and debt, precious metals, fixed income, and other alternative asset classes. VanEck Vectors exchange-traded products are one of the largest ETP families in the world, managing more than 70 funds that span a range of sectors, asset classes, and geographies. As of August 31, 2016, VanEck managed approximately $38.1 billion in assets, including mutual funds, ETFs, and institutional accounts.
Please call 800.826.2333 or visit our website for the most recent month-end performance of VanEck Vectors ETFs. This information will be available no later than seven business days after the most recent month end.
The “net asset value” (NAV) of an ETF is determined at the close of each business day, and represents the dollar value of one share of the ETF; it is calculated by taking the total assets of an ETF subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as an ETF's intraday trading value. Investors should not expect to buy or sell shares at NAV. Total returns are based upon closing “market price” (price) of the ETF on the dates listed.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading Fund shares in the secondary market.
Investors may call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. Investing involves risk, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, and charges and expenses of VanEck Vectors ETFs carefully before investing. The prospectus and summary prospectus contains this and other information. Please read the prospectus and summary prospectus carefully before investing.
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