NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Pacific Global ETFs announced today the liquidation of its high-yield exchange-traded fund (ETF), Pacific Global Focused High Yield ETF (NYSE Arca: FJNK).
The Board of Trustees of Pacific Global ETF Trust recently approved the liquidation. The last day of trading for FJNK on the NYSE Arca, Inc. will be July 30, 2021. The last day creation orders will be accepted by the ETF will be July 19, 2021. Shareholders may sell their holdings on the NYSE until market close on July 30, 2021, after which FJNK will be delisted. The final distribution to shareholders of the affected ETF is expected to occur on or about Aug. 5, 2021.
Shareholders can find more information about Pacific Global Focused High Yield ETF here, or call (866) 933-2398.
About Pacific Global ETFs
Established in 2018, Pacific Global ETFs is managed by Pacific Global Advisors LLC, a Pacific Life company, and provides actively managed, income-focused investment strategies designed to deliver attractive dividend yields and diversification.
About Pacific Asset Management
Pacific Asset Management (PAM) specializes in fixed-income investment management based on a foundation of corporate credit research. Founded in 2007, PAM manages approximately $15.4 billion (as of March 31, 2021). Through our focus on corporate credit securities, we seek to help clients realize the potential of these asset classes to improve portfolio diversification and total return.
About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2021 is compiled by Pacific Life using the 2021 FORTUNE 500® list. Each of Pacific Global Advisors LLC and Pacific Asset Management LLC are indirect wholly-owned subsidiaries of Pacific Life.
Risks and Other Important Information
ETF shares are not individually redeemable from the Funds. Shares may only be redeemed directly from the Funds by Authorized Participants in creation units only.
The Funds are actively managed ETFs and, thus, do not seek to replicate the performance of a specified index. Instead, investment decisions are made based on investment views and there is no guarantee that the investment views will produce the desired results or expected returns, which may cause a Fund to fail to meet its investment objective or to underperform its benchmark index or funds with similar investment objectives and strategies.
The Funds face numerous market trading risks, including disruptions to the creation and redemption process, losses from trading in secondary markets, the existence of extreme market volatility or potential lack of an active trading market for Shares, which may result in Shares trading at a significant premium or discount to net asset value (NAV). The market prices of Shares will fluctuate in accordance with changes in NAV and supply and demand on the Exchange. If a shareholder purchases Shares at a time when the market price is at a premium to the NAV or sells Shares at a time when the market price is at a discount to the NAV, the shareholder may sustain losses.
A Fund’s investments in high yield securities or “junk bonds” are subject to a greater risk of loss of income and principal than higher grade debt securities. Fixed income securities are subject to the risk that securities could lose value because of interest rate changes. A Fund could lose money if the issuer or guarantor of a debt instrument in which the Fund invests becomes unwilling or unable to make timely principal and/or interest payments or to otherwise meet its obligations.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial advisor/financial consultant before making any investment decisions.
Before investing, Investors should carefully read the prospectus/summary prospectus and carefully consider the Investment objectives, risks, charges and expenses. For this and more complete information about the funds call (866) 933-2398 or visit www.pacificglobaletfs.com for the prospectus/summary prospectus.
Shares of the Fund are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or bank affiliate.
Funds are distributed by Foreside Fund Services, LLC.