VanEck Vectors™UCITS ETFs: Fund Closure FAQs
|Share Class Name||ISIN|
|VanEck Vectors™ Natural Resources UCITS ETF (USD) Class A
|VanEck Vectors™ Preferred US Equity UCITS ETF (USD) Class A||IE00BDFBTR85|
VanEck continuously monitors and evaluates its ETFs offerings across a number of factors, including performance, liquidity, assets under management and investor interest, among others. The decision was made, after careful consideration, to liquidate the Funds based on an analysis of these factors and, with regards to VanEck Vectors™ Preferred US Equity UCITS ETF, on the fact that the index provider for the Fund, Wells Fargo Securities, LLC, is transitioning out of the Strategic Indexing Business and the Fund will no longer be able to track or replicate the relevant Index.
The last day of trading of the Shares in the Funds on each of the Relevant Exchanges is 12thApril 2021, (the "Final Exchange Trading Date").
Furthermore, the final applications for subscriptions and redemptions from Authorised Participants in respect of the Final Dealing Date (13thApril 2021 for VanEck Vectors™ Preferred US Equity UCITS ETF and 14thApril 2021 for VanEck Vectors™ Natural Resources UCITS ETF) must be received no later than the cut-off times outlined in the Supplement for the Funds on 13thApril 2021.
Yes, investors can sell their shares before or on the Final Exchange Trading Date (12thApril 2021).
Investors who have not sold their Shares on or before the Final Exchange Trading Date, or have not validly applied for redemption of their Shares in accordance with the terms of the Prospectus, on or before the Final Dealing Date,
and, in each case, who are investors in the Fund as at 23rdApril 2021 (the “Record Date”), shall have their Shares compulsorily redeemed on 20thApril 2021 (the "Compulsory Redemption Date") which will be the day the final net asset value (the “Final NAV”) is calculated.
The proceeds of the Compulsory Redemption shall be distributed on or around 27thApril 2021 (the "Settlement Date") to such person listed in the Company's register of Shareholders as the holder of the Shares of the Funds as at the Record Date.
Please note that, investors buying and selling Shares through a broker or market maker/Authorised Participant and/or investors who hold Shares through a nominee and/or clearing agent, may not appear in the Company's register of Shareholders. Such investors should deal directly with the relevant broker, market maker/Authorised Participant, nominee or clearing agent (as relevant) in respect of their investment.
If you do not wish to be automatically redeemed on the Compulsory Redemption Date, you can (if you are an Authorised Participant) redeem your Shares in the Funds at any time up to and including the Final Dealing Date in accordance with the Fund's normal redemption procedures as set out in the Prospectus.
However, if a redemption request does not settle by the Record Date, such Shares will be compulsorily redeemed against the Final NAV Value as of the Compulsory Redemption Date as part of the Funds closure process as outlined above.
You may also wish to acquire an alternative ETF within VanEck Vectors™ UCITS ETF plc range.
If you would like further information, please contact VanEck using the details set out below. Investors should seek their own advice as to the suitability of any alternative investment option.
Investors are advised to consult their own professional advisers as to the tax implications of the Compulsory Redemption and closure of the Funds under the laws of the countries of their nationality, residence, domicile or incorporation.
The additional costs incurred in respect of closing the Funds will be paid by VanEck Asset Management B.V. The Fund's normal operating costs and transaction costs together with any Cash Redemption Fees will continue to be borne by the Funds and its respective Shareholders in accordance with the terms of the Supplement for the Funds.
If you have any queries concerning the matters outlined in this FAQs page, please contact your local agent, or (if none) VanEck at firstname.lastname@example.org.
Founded in 1955, VanEck has been driven by innovation and stands for intelligently designed, forward-looking investment strategies. As of March 8, 2021, VanEck managed approximately USD 69 billion in assets, including ETFs, mutual funds and institutional accounts.
With more than 90 ETFs globally, the asset manager offers a comprehensive portfolio covering numerous sectors, asset classes and smart beta strategies. VanEck was one of the first asset managers to offer investors access to international markets. The objective has always been to identify new trends and asset classes – such as Gold Investments (1968), Emerging Markets (1993) and ETFs (2006), which have shaped the investment industry to this day.
VanEck is headquartered in New York City and has offices in Frankfurt (Germany), Pfaeffikon/SZ (Switzerland), Amsterdam (Netherlands), Sydney (Australia) and Shanghai (China).
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This information originates from VanEck Switzerland AG, which has been appointed as distributor of VanEck products in Switzerland by the Management Company VanEck Asset Management B.V., incorporated under Dutch law and registered with the Dutch Authority for the Financial Markets (AFM). VanEck Switzerland AG is registered in Churerstrasse 23, CH-8808 Pfaeffikon, Switzerland. The information is intended only to provide general and preliminary information to investors and shall not be construed as investment, legal or tax advice. VanEck Switzerland AG and its associated and affiliated companies (together “VanEck”) assume no liability with regards to any investment, divestment or retention decision taken by the investor on the basis of this information. The views and opinions expressed are those of the author(s) but not necessarily those of VanEck. Opinions are current as of the publication date and are subject to change with market conditions. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index.
VanEck Vectors™ Natural Resources UCITS ETF and VanEck VectorsTM Preferred US Equity UCITS ETF (the "ETFs"), sub-funds of VanEck VectorsTM UCITS ETFs plc, are managed by VanEck Asset Management B.V., registered with the Central Bank of Ireland and tracks an equity index. The value of the ETFs assets may fluctuate heavily as a result of the investment strategy. If the underlying index falls in value, the ETFs will also lose value.
Investors must read the sales prospectus and key investor information before investing in a fund. These are available in English and the KIIDs in certain other languages as applicable and can be obtained free of charge at www.vaneck.com, from the Management Company or from the local information agent details to be found on the website.
Swiss Representative of the ETF is First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. Paying Agent of the ETF in Switzerland is Helvetische Bank AG, Seefeldstrasse 215, 8008 Zurich. The Prospectus, Key Investor Information Document, Articles and annual and semi-annual reports of the Company may be obtained free of charge from the Representative.
The VanEck Vectors Preferred US Equity UCITS ETF is not sponsored, endorsed, or advised by Wells Fargo & Company, Wells Fargo Securities, LLC (together, “Wells Fargo”), the Index Calculation Agent, NYSE Arca, or any of their subsidiaries and affiliates. WELLS FARGO AND INDEX CALCULATION AGENT DO NOT GUARANTEE THE ACCURACY AND/OR COMPLETENESS OF ANY DATA SUPPLIED BY THEM OR OF THE INDEX UNDERLYING THE ETF AND MAKE NO WARRANTY AS TO THE RESULTS TO BE OBTAINED FROM INVESTING IN THE ETF OR IN THE INDEX.
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