AGF Announces Closure and Liquidation of AGFiQ Hedged Dividend Income Fund
May 27 2022 - 5:01PM
AGF Investments LLC (TSX:AGF.B) announced today the closure
and liquidation of AGFiQ Hedged Dividend Income Fund (DIVA) on or
about June 28, 2022.
The decision to close and liquidate was driven by the firm’s
continued effort to simplify and streamline their offerings; as
well as the small number of investors, relatively low assets and
the costs associated with maintaining the ETFs. The last day of
trading on NYSE Arca, Inc. (“NYSE Arca”) for the Fund is expected
to be June 13, 2022. Effective upon the close of business on June
13, 2022, the Fund will no longer accept orders for the purchase of
Creation Units. Beginning today, the Fund may not pursue investment
objective or engage in normal business activities, except for the
purposes of winding up business and affairs, preserving the value
of assets, paying liabilities, and distributing remaining assets to
shareholders pursuant to the plan of liquidation approved by the
Board.The liquidation date for the Fund will be on or about June
28, 2022 (“Liquidation Date”). There can be no assurance that there
will be a market for the purchase or sale of Fund shares during the
time between the market close on June 13, 2022 and the Liquidation
Date, because Fund shares will no longer be traded on NYSE Arca.In
connection with the liquidation, any shares of the Fund outstanding
on the Liquidation Date will be automatically redeemed as of the
close of business on the Liquidation Date without the imposition of
customary redemption transaction fees. Although the liquidation is
not expected to be a taxable event for the Fund, for taxable
shareholders, the automatic redemption of shares of the Fund on the
Liquidation Date will generally be treated as a sale that may
result in a gain or loss for federal income tax purposes. Instead
of waiting until the Liquidation Date, a shareholder may
voluntarily sell his or her shares on NYSE Arca (subject to
customary transaction fees) until the market close on June 13,
2022.Before investing you should carefully consider the
Fund's investment objective, risks, charges and expenses. This and
other information is in the Fund's prospectus which can be obtained
by visiting www.AGF.com. Please read the prospectus carefully
before you invest.Risks: There is no guarantee that the
Fund will achieve its objective. An investment in the Fund is
subject to risk including the possible loss of principal amount
invested. The risks associated with the Fund is detailed in the
prospectus and includes, but is not limited to, tracking error
risk, mid-cap risk, industry concentration risk, market
neutral style risk, short sale risk and specific risks related
to exchange traded funds. There is a risk that during a “bull”
market, when most equity securities and long only ETFs are
increasing in value, the Fund’s short positions will likely cause
the Fund to underperform the overall U.S. equity market and such
ETFs. The Fund may not be suitable for all investors
About AGFiQ
AGFiQ is a collaboration of investment professionals from AGF
Investments Inc. (AGFI), a Canadian registered portfolio manager,
and of AGF Investments, LLC (formerly FFCM), a U.S. registered
adviser. This collaboration makes up the quantitative investment
team.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent
and globally diverse asset management firm. AGF brings a
disciplined approach to delivering excellence in investment
management through its fundamental, quantitative, alternative and
high-net-worth businesses focused on providing an exceptional
client experience. AGF’s suite of investment solutions extends
globally to a wide range of clients, from financial advisors and
individual investors to institutional investors including pension
plans, corporate plans, sovereign wealth funds and endowments and
foundations.
AGF has investment operations and client servicing teams on the
ground in North America, Europe and Asia. With over $40
billion in total assets under management and fee-earning
assets, AGF serves more than 800,000 investors. AGF trades on the
Toronto Stock Exchange under the symbol AGF.B.Media
Contact
Amanda MarchmentDirector, Corporate
Communications416-865-4160amanda.marchment@agf.com
Distributor: Foreside Fund Services, LLC
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