SerenityShares
Investments LLC to close its Impact Exchange Traded Fund
Chevy Chase, MD – March 1, 2019 – SerenityShares Investments LLC (“SerenityShares”), an investment firm focused on impact investing, today announced that the Board of Trustees of ETF Series Solutions Trust, has approved the liquidation of its fund.
The Fund – SerenityShares Impact ETF (NYSE ARCA: ICAN)
– will close to new investors on March 19, 2019 and liquidate on March 19,
2019.
The recommendation to close the Fund was made by SerenityShares,
the investment adviser to the Fund, which notified the Trust’s Board who
approved the closing.
The underlying SSI Impact Index (NYSE: ICANNDX) will
continue to be calculated and is available for licensing for ETF and other
products. Created to make the UN Sustainable Development Goals
(SDGs) investable using public equities, this proprietary index has
identified 20 societal and environmental themes that enable investors to
define the impact their investments have by focusing on companies whose
products and services target those challenges—from clean energy and recycling
to eldercare and the environment—putting the focus on solutions.
SerenityShares continues to believe that
investors increasingly want their investments to not only generate a return but
to also make a difference. And while we believe our methodology offers investors
a better way to align their investments with their values and a means to invest
in the UN Sustainable Development Goals using public equities, the firm lacked
the distribution to generate enough assets in the Fund to warrant continued
operation.
The Fund will immediately begin the process of closing down and liquidating its portfolio, which will increase the Fund’s cash holdings notwithstanding the Fund’s investment objective and strategies.
There can be no assurance that there will be a market for the Fund’s shares between the last day of trading on the NYSE Arca (March 19, 2019) and the liquidation date (March 19, 2019).
Any person holding shares in the Fund as of the liquidation date will receive a cash distribution equal to the net asset value of their shares. Shareholders receiving a cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Fund. A portion of the distribution may represent an ordinary income dividend or a capital gain distribution.
For additional information about the liquidation, shareholders of the Fund may call SerenityShares at 202‐349‐3917 or visit www.serenityshares.com
About SerenityShares
At SerenityShares, we believe it is possible to achieve a market return or better while investing in a manner consistent with your values. SerenityShares seeks to democratize public equity investing in impact and offer portfolios that solve problems and meet the needs of investors.
Important Disclosures and Definitions
Carefully consider the Funds' investment objectives, risks, charges and expenses before investing. This and additional information can be found in the statutory and summary prospectus. A free, hardcopy of the statutory and summary prospectus may be obtained by calling 202‐349‐3917. Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
SSI Indexes is the Index Provider for the Fund and is not affiliated with the Trust or the distributor. The Investment Adviser has entered into a license agreement with SSI Indexes to use the SSI Impact Index. The Fund is entitled to use its Index pursuant to a sub‐licensing arrangement with the Investment Adviser.
The SSI Impact Index employs a passive methodology designed to measure the performance of a diversified portfolio of U.S.‐listed companies that operate in areas that address a variety of society, social, and environmental challenges. These include environmental stewardship, local access to healthcare, renewable energy, clean water, community building, access to information, natural organic foods, eldercare, and green technologies. It is not possible to invest directly in an index.
The Fund is distributed by Quasar Distributors, LLC.
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