Natixis Investment Managers to Liquidate LSST ETF Following Board Decision
Natixis Investment Managers to Liquidate LSST ETF
Natixis Investment Managers, a prominent player in the asset management industry, has made the significant decision to liquidate the Natixis Loomis Sayles Short Duration Income ETF (NYSE: LSST). This resolution came from the Board of Trustees of the Natixis ETF Trust after a careful evaluation and recommendation from the Fund’s adviser, Natixis Advisors, LLC.
Understanding the Liquidation Process
The liquidation process is anticipated to commence with proceeds allocated to shareholders of the Fund around a specified date. As part of the governance structure, it has been confirmed that effective from the conclusion of trading on a particular date, the Fund will cease to accept purchase orders for its creation units. Subsequently, its final day of trading on NYSE Arca is expected to occur shortly after that date, leading into a delisting process that will follow swiftly.
Key Dates for Shareholders
Shareholders will have the opportunity to sell their shares before a specific cutoff date. However, it’s important to note that during the period following the cutoff, there may be limited or no market activity for the purchase or sale of LSST shares. The Fund will also be working towards increasing its cash holdings, which will impact its pursuit of original investment objectives.
The Impact on Investors
As the liquidation date approaches, it’s crucial for investors to understand what this means for their shares. On the liquidation date, outstanding shares will be automatically canceled. Shareholders remaining until this date can expect to receive a liquidation distribution equivalent to the net asset value of their shares held. This distribution may include dividends or other forms of payout, contingent on the Fund's financial situation.
What Should Shareholders Do?
For those holding shares in the LSST ETF, it’s advisable to keep an eye on market developments and stay informed regarding liquidation updates. Shareholders can reach out directly to dedicated resources for further information or clarifications regarding the liquidation process and their potential distributions.
About Natixis Investment Managers
Natixis Investment Managers is well-known for its multi-affiliate approach, connecting clients with diverse and independent investment strategies from over 15 active managers. As one of the largest asset managers globally, with assets exceeding $1.3 trillion, the firm continues to deliver varied financial solutions encompassing innovative ESG strategies and a commitment to sustainable finance.
Global Presence and Expertise
Headquartered in key global cities, Natixis Investment Managers operates as part of the Global Financial Services division of Groupe BPCE, the second-largest banking conglomerate in France. The firm comprises numerous affiliated investment management firms offering distinct products and services, thus enhancing its ability to meet the unique needs of its clients worldwide.
Frequently Asked Questions
What is the reason for the liquidation of the LSST ETF?
The liquidation was decided by the Board of Trustees based on strategic recommendations by the Fund’s adviser, signaling a shift in operational focus.
When are shareholders expected to receive liquidation proceeds?
Liquidation proceeds are anticipated to be distributed to shareholders shortly after the identified liquidation date.
Can shareholders sell their shares before liquidation?
Yes, shareholders can sell their shares until the market closes on the designated day prior to liquidation.
What happens to shares on the liquidation date?
On the liquidation date, all outstanding shares will be automatically canceled, and shareholders will receive distributions based on the net value of their holdings.
How can shareholders find more information about the liquidation process?
Shareholders should contact the provided resources for up-to-date information and guidance on the liquidation process.
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