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Natixis Investment Managers (Natixis IM) announced the liquidation of the Natixis Vaughan Nelson Mid Cap ETF (NYSE: VNMC). The Board of Trustees decided to close the fund on the recommendation of Natixis Advisors, The fund will stop accepting purchase orders on July 25, 2024, and will cease trading on NYSE Arca that same day. Liquidation proceeds are expected to be distributed to shareholders by July 30, 2024. Shares not sold by July 25 will be automatically terminated and canceled, with shareholders receiving a distribution based on the net asset value. The fund will increase its cash holdings and cease pursuing its investment objective during the liquidation process.
Positive
- Shareholders will receive liquidation distributions based on current net asset value.
- Natixis IM is transparent about the liquidation timeline and process.
Negative
- The fund will no longer accept purchase orders after July 25, 2024.
- Trading will cease on NYSE Arca on July 25, 2024, leading to delisting.
- Shareholders may incur transaction fees when selling their shares before market close on July 25, 2024.
- The fund will not pursue its investment objective during the liquidation period.
- No market for purchase or sale of shares expected between July 25, 2024, and the liquidation date.
- Automatic termination and cancellation of shares not sold by July 25, 2024.
BOSTON–(BUSINESS WIRE)– Natixis Investment Managers (Natixis IM) announced today that it will liquidate and close the Natixis Vaughan Nelson Mid Cap ETF (NYSE: VNMC). The decision was made by the Board of Trustees of the Natixis ETF Trust II on the recommendation of the Fund’s adviser, Natixis Advisors, LLC.
Proceeds of the liquidation are currently expected to be sent to shareholders of the Fund on or about July 30, 2024 (the liquidation date). Effective as of the close of business on July 25, 2024, the Fund will no longer accept orders for the purchase of creation units. It is expected that the Fund will cease trading on NYSE Arca on July 25, 2024, after the market close, and subsequently will be delisted.
In connection with the liquidation, any shares of the Fund outstanding on the liquidation date will be automatically terminated and canceled on the liquidation date. After payment (or setting aside for later payment) of the Fund’s obligations, shareholders who remain in the Fund until the liquidation date will receive a liquidation distribution based on the current net asset value of the shares of the Fund that such shareholder then holds. The Fund may or may not, depending upon its circumstances, pay one or more dividends or other distributions prior to or along with the liquidation payment on the liquidation date.
Shareholders of the Fund may sell their shares of the Fund on the NYSE Arca until the market close on July 25, 2024, and may incur customary transaction fees from their broker-dealer in connection with such sales. There is not expected to be any market for the purchase or sale of the Fund’s shares during the time between market close on July 25, 2024, and the liquidation date. During the time between market close on July 25, 2024, and the liquidation date, the Fund will be in the process of closing down and liquidating its portfolio. This process will result in the Fund increasing its cash holdings and, as a consequence, not pursuing its investment objective.
For more information, shareholders of the Fund may call 1-800-458-7452.
FUND LIQUIDATION:
|
FUND NAME |
TICKER |
EXCHANGE |
|
Natixis Vaughan Nelson Mid Cap ETF |
VNMC |
NYSE Arca, Inc. |
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. Visit https://www.im.natixis.com/en-us/products/exchange-traded-funds for a prospectus or a summary prospectus containing this and other information. Read it carefully.
ALPS Distributors, Inc. is the distributor of the Natixis Vaughan Nelson Mid Cap ETF. Natixis Distribution, LLC is a marketing agent. ALPS Distributors, Inc. is not affiliated with Natixis Distribution, LLC.
About Natixis Investment Managers
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers1 with more than $1.3 trillion assets under management2 (€1.2 trillion), Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals.
Headquartered in Paris and Boston, Natixis Investment Managers is part of the Global Financial Services division of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks. Natixis Investment Managers’ affiliated investment management firms include AEW; DNCA Investments;3 Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offerings are available in all jurisdictions. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.
Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various US registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers S.A. (Luxembourg), Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.
1 Cerulli Quantitative Update: Global Markets 2023 ranked Natixis Investment Managers as the 17th largest asset manager in the world based on assets under management as of December 31, 2022.
2 Assets under management (“AUM”) of current affiliated entities measured as of March 31, 2024, are $1,321.9 billion (€1,224.9 billion). AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
3 A brand of DNCA Finance.
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NTX000742
View source version on businesswire.com: https://www.businesswire.com/news/home/20240612835553/en/
Press:
Kelly Cameron
+ 1 617-449-2543
Source: Natixis Investment Managers
FAQ
What is the liquidation date for Natixis Vaughan Nelson Mid Cap ETF (VNMC)?
The liquidation date is expected to be July 30, 2024.
When will Natixis Vaughan Nelson Mid Cap ETF (VNMC) cease trading on NYSE Arca?
The fund will cease trading on NYSE Arca at the market close on July 25, 2024.
Can I still purchase shares of Natixis Vaughan Nelson Mid Cap ETF (VNMC)?
No, the fund will no longer accept orders for the purchase of creation units after the close of business on July 25, 2024.
What happens to my shares if I don’t sell them by July 25, 2024?
Any shares outstanding on the liquidation date will be automatically terminated and canceled, with shareholders receiving a liquidation distribution.
Will there be any market for VNMC shares between July 25, 2024, and the liquidation date?
No, there is not expected to be any market for the purchase or sale of the fund’s shares during that period.
