When an ETF closes, it takes some time to go through the liquidation process. If you are the owner of record at the time of the ETF delisting, you will receive the cash equivalent value of the fund’s assets at the time of sale (liquidation), not the value of the final closing price on the last day of trading. There will be a few days’ lag between the closing bell and the actual execution of the fund’s liquidation, so there could be slight discrepancies in those prices, as well as some risk.
For further information regarding a fund closure, please contact your broker, as they will have all the relevant information you require.
ETF Closure Timeline:
Typically, the ETF Closure announcements will be communicated on the relevant fund page and through brokers. It will contain the information about the dates the ETF will stop trading and when the fund’s assets will be liquidated. The notice is usually about 30 days, giving investors time to find replacement investments or ETFs and to alter their trading strategy.
The Dealing deadline for redemption requests is around 1 week after the last day of trading, followed the next day by the Last Dealing Day.
The Termination Date is around 2 weeks after the last day of trading, and around a week after the final Dealing Day.
The settlement date for Redemptions occurs 10 Business Days after the Termination Date.
For example, if a Notice to Shareholders was distributed on the 15th March 2024 for a fund termination, the timeline would look like this:
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