MALVERN, Pa.--(BUSINESS WIRE)--After careful consideration, the Board of Trustees of Pacer Funds Trust has determined to close and liquidate the Pacer Benchmark Retail Real Estate SCTR ETF (NYSE:Arca RTL) (the “Fund”). Pacer Advisors, Inc. (“Pacer Advisors”) serves as the investment adviser to the Fund.
The Fund will be closed to orders for new creation units as of May 21, 2020, and the last day of trading of the Fund’s shares on the NYSE: Arca Exchange will be May 21, 2020. From May 11, 2020 through May 21, 2020, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for Fund shares during that time period. Customary brokerage charges may apply to such transactions. The Fund will liquidate on or around May 22, 2020 (the “Liquidation Date”).
Beginning on May 11, 2020, the Fund will be liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund’s prospectus.
On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, the Fund's net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Fund will terminate.
For additional information, please call (877) 337-0500 or visit www.paceretfs.com.
Carefully consider the Fund’s investment objective, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s prospectus, which may be obtained by calling (877) 337-0500, or by visiting www.paceretfs.com. Read the prospectus carefully before investing.
An investment in the Funds is subject to investment risk, including the possible loss of principal. Pacer ETF shares may be bought and sold on an exchange through a brokerage account. Brokerage commissions and ETF expenses will reduce investment returns. There can be no assurance that an active trading market for ETF shares will be developed or maintained. The risks associated with these funds are detailed in the prospectus and could include factors such as currency exchange rate risk, equity market risk, European investments risk, foreign securities risk, forward currency contracts risk, geographic concentration risk, large and mid-capitalization investing risk, new fund risk, other investment companies risk, passive investment risk, tracking risk, non-diversification risk, and/or special risks of exchange traded funds.
Distributor: Pacer Financial, Inc., member FINRA, SIPC, an affiliate of Pacer Advisors, Inc.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED