SAN ANTONIO--(BUSINESS WIRE)--Victory Portfolios II today announced plans to liquidate the VictoryShares Emerging Market High Div Volatility Wtd ETF (CEY). The decision to liquidate the ETF was the result of the Company’s regular review of its product lineup to ensure it is best meeting client needs.
Shareholders of the ETFs may sell their holdings on the Nasdaq Stock Market prior to the close of trading on December 22, 2022, and customary brokerage charges may apply to these transactions. The ETF will cease trading at the end of the trading day on December 22, 2022. It is anticipated that the ETF will liquidate on or about December 28, 2022. Any person holding shares of the ETFs as of the liquidation date will receive a cash distribution equal to the net asset value of their shares as of that date.
Victory Capital Management Inc., the adviser to the VictoryShares ETFs, will bear all fees and expenses that may be incurred in connection with the liquidation of the ETFs and the distribution of the cash proceeds to investors, other than brokerage fees and other related expenses.
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.
About Victory Capital
Victory Capital is a diversified global asset management firm with $147.3 billion in assets under management as of September 30, 2022. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 12 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment products, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, and a 529 Education Savings Plan.
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Carefully consider a fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus or summary prospectus containing this and other important information, visit www.victorysharesliterature.com. Read it carefully before investing.
VictoryShares ETFs are distributed by Foreside Fund Services, LLC, member FINRA. Victory Capital is not affiliated with Foreside Fund Services, LLC.
Investments involve risk including possible loss of principal. ETFs have the same risks as the underlying securities traded on the exchange throughout the day. Redemptions are limited and often commissions are charged on each trade, and ETFs may trade at a premium or discount to their net asset value. ETFs may invest in securities included in, or representative of securities included in, the index, regardless of their investment merits.