Victory Portfolios II announces ETF liquidation
SAN ANTONIO – (COMMERCIAL THREAD) – Victory Portfolios II today announced its intention to liquidate the VictoryShares Protect America ETF (SHLD) and the VictoryShares Top Veteran Employers ETF (VTRN) (together, the “ETFs”). The decision to liquidate the ETFs is the result of the Company’s regular review of its product line to ensure that it best meets the needs of clients.
Shareholders of ETFs may sell their holdings on the Nasdaq Stock Market before market close on October 11, 2021, and customary brokerage fees may apply to such transactions. The ETFs will cease trading at the end of the trading day on October 11, 2021. The ETFs will be liquidated on or about October 15, 2021. Anyone holding shares of the ETFs on the date of liquidation will receive an equal cash distribution. the net asset value of their shares on that date. Victory Capital Management Inc., the advisor to the VictoryShares ETFs, will be responsible for all costs and expenses that may be incurred in connection with the liquidation of the ETFs and the distribution of cash proceeds to investors, except brokerage and other fees. related expenses.
For tax purposes, shareholders will generally recognize a capital gain or loss equal to the amount received for their shares on their adjusted basis in those shares.
About Victory Capital
Victory Capital is a global, diversified asset management company with $ 162.9 billion in assets under management as of July 31, 2021. The Company operates a next-generation business model combining boutique investment qualities with the benefits of ‘a fully integrated and centralized operating and distribution platform.
Victory Capital offers specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With ten stand-alone investment franchises and a solutions platform, Victory Capital offers a wide range of investment styles and investment vehicles, including actively managed mutual funds, separately managed accounts, ETFs active and rule-based, multi-asset class strategies, tailor-made solutions. and an education savings plan 529.
For more information, please visit www.vcm.com or follow us on Twitter and LinkedIn.
Carefully review the investment objectives, risks, fees and expenses of the Funds before investing. This and other important information about the Funds can be found in the prospectus of each Fund or, if available, in the simplified prospectus. To obtain a copy, please visit www.victorysharesliterature.com or call 800.991.8191. Read it carefully before investing.
VictoryShares ETFs are distributed by Foreside Fund Services, LLC, a member of FINRA. Victory Capital Management Inc. is the advisor to the VictoryShares ETFs. Victory Capital is not affiliated with Foreside Fund Services, LLC.
Investments involve risks, including possible loss of capital. ETFs present the same risks as the underlying securities traded on an exchange throughout the day. Redemptions are limited and commissions are often charged on each trade, and ETFs may trade at a premium or at a discount to their net asset value. ETFs may invest in securities included or representative of securities included in the index, regardless of their investment merits.