BOSTON--(BUSINESS WIRE)--
Columbia Large Cap Growth ETF (NYSE Arca: RPX), Columbia Select
Large Cap Growth ETF (NYSE Arca: RWG) and Columbia Select Large
Cap Value ETF (NYSE Arca: GVT), today announced that they will
each be closed, and their respective assets liquidated to shareholders
on or about February 8, 2016, as discussed below. Columbia Core Bond ETF
(NYSE Arca: GMTB) and Columbia Intermediate Municipal Bond ETF (NYSE
Arca: GMMB) will continue to be offered.
The last date for authorized participants to purchase or redeem creation
units of Columbia Large Cap Growth ETF, Columbia Select Large Cap Growth
ETF and Columbia Select Large Cap Value ETF (the Liquidating ETFs) will
be January 28, 2016.
The last day of trading for the Liquidating ETFs on the NYSE Arca (the
cessation date) is expected to be January 28, 2016, after which the
Liquidating ETFs will no longer engage in any business activities except
for the purpose of winding up their business affairs, including to sell
portfolio assets to raise cash for the liquidations (which may take a
week or more), discharging or making reasonable provision for the
payment of all their liabilities and liquidating and distributing their
respective remaining assets to Liquidating ETF shareholders.
The proportionate interests of the shareholders in the net assets of
each of the Liquidating ETFs (i.e. the number of ETF shares each
investor owns) will be fixed on the basis of their respective ETF share
holdings at the close of business on January 28, 2016.
On or about February 8, 2016 (the Distribution Date), the Liquidating
ETFs will make to remaining shareholders a liquidating distribution
equal to the shareholder’s proportionate interest in the net assets of
the particular Liquidating ETF. While shareholders’ proportionate
interest (i.e. the number of ETF shares owned) in a Liquidating ETF is
fixed as of the close of business on January 28, 2016, the value of that
interest may fluctuate, including decline, through the Distribution
Date. The liquidation distributions will be made in cash or cash
equivalents.
ETF shares are not individually redeemable. Investors buy and sell
shares on a secondary market. Only market makers or “authorized
participants” may trade directly with the ETF, typically in blocks of
50,000 shares.
Columbia Management Investment Advisers, LLC serves as the investment
manager to Columbia Large Cap Growth ETF, Columbia Select Large Cap
Growth ETF and Columbia Select Large Cap Value ETF. Columbia Large Cap
Growth ETF, Columbia Select Large Cap Growth ETF and Columbia Select
Large Cap Value ETF are distributed by ALPS Distributors, Inc., which is
not affiliated with Columbia Management Investment Advisers, LLC, or its
parent company Ameriprise Financial, Inc. Columbia Threadneedle
Investments is the global brand name of the Columbia and Threadneedle
group of companies.
© 2015 Columbia Management Investment Advisers, LLC. All rights
reserved.
Adtrax 1377158
COL000274 4/29/16
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For Columbia Management Investment Advisers, LLC
Liz Kennedy,
617-897-9394
Liz.Kennedy@ampf.com
Source: Columbia Management Investment Advisers, LLC