Calgary, Alberta–(Newsfile Corp. – January 20, 2023) – SmartBe Investments Inc. (“SmartBe“) announces that it will be terminating the SmartBe Canadian Quantitative Momentum Index ETF (NEO: SBCM) (“SBCM“) and SmartBe U.S. Quantitative Momentum Index ETF (NEO: SBQM) (“SBQM“, and together with SBCM, the “Terminating ETFs“) effective at the close of business on or before March 30, 2023 (the “Termination Date“). The decision to terminate the Terminating ETFs reflects a thorough product review and evaluation process to better serve investors through SmartBe’s suite of investment solutions in Canada.
Effective immediately, no further direct subscriptions for units of the Terminating ETFs will be accepted, including any purchases made through a pre-authorized purchase plan. Units of the Terminating ETFs are expected to be de-listed from the NEO Exchange Inc., at the request of SmartBe, at the close of business on or before March 30, 2023, with all units still held by investors being subject to a mandatory redemption as of the Termination Date. Any remaining unitholders of the Terminating ETFs as at the Termination Date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the applicable Terminating ETF, on a pro rata basis. If you hold units of a Terminating ETF, there may be tax implications to any disposition of your holdings. We strongly urge you to contact your financial advisor to discuss the financial and tax implications associated with a redemption of units and the termination of the Terminating ETFs in your particular circumstances. SmartBe welcomes any unit holder or advisor impacted by the termination to reach out to us directly for any assistance we might provide as the fund manager.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, the delisting date of the Terminating ETFs and those statements identified by the expressions “anticipate”, “expect”, “intend”, “will” and similar expressions to the extent they relate to the Terminating ETFs or SmartBe. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although SmartBe believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. SmartBe undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
SmartBe Investments Inc. is a manager of exchange-traded funds. The company partners with international and academically published index providers to construct and deliver Canadian exchange-traded funds for widespread public distribution. SmartBe is dedicated to bringing new quantitative approaches to Canadian investors interested in affordable alternatives to sophisticated investment strategies.
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