OVERLAND PARK, Kan.--(BUSINESS WIRE)--Ivy Investment Management Company (IICO) announced today that the Board of Trustees of Ivy NextShares (the Trust) has approved delisting from The NASDAQ Stock Exchange (NASDAQ) and the subsequent liquidation of the three series of the Trust (collectively, the “Funds”), after determining the Funds do not have meaningful prospects for growth:
- Ivy Focused Energy NextShares ($5.9 million in total assets at 6/30/19)
- Ivy Focused Growth NextShares ($14 million in total assets at 6/30/19)
- Ivy Focused Value NextShares ($9.1 million in total assets at 6/30/19)
Accordingly, effective the close of business on Sept. 6, 2019, the Funds no longer will accept creation unit purchase orders. The last day of secondary market trading on NASDAQ in the Funds’ shares is expected to be Sept. 9, 2019. Final redemptions will be executed on Sept. 9, 2019.
Each Fund will liquidate its assets, and final redemptions are expected to be processed, and cash is expected to be distributed pro rata to all remaining shareholders, on or about Sept. 20, 2019. Shareholders should contact their tax advisors to discuss the income tax consequences of a liquidation.
IVY INVESTMENTS® refers to the investment management and investment advisory services offered by Ivy Investment Management Company, the financial services offered by Ivy Distributors, Inc., a FINRA member broker dealer and the distributor of IVY FUNDS® mutual funds and IVY VARIABLE INSURANCE PORTFOLIOS℠, and the financial services offered by their affiliates.
NextShares™ is a trademark of NextShares Solutions LLC. All rights reserved. Used with permission.
Ivy NextShares funds are managed by Ivy Investment Management Company and are distributed by ALPS Distributors, Inc.
ALPS Distributors, Inc., NextShares Solutions LLC, and Ivy Investment Management Company or Ivy Distributors, Inc. (or their affiliates), are all unaffiliated companies.
Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of an Ivy NextShares exchange-traded managed fund. This and other important information is contained in the prospectus and summary prospectus, which may be obtained here or from a financial advisor. Read it carefully before investing.