Ecofin to Close Ecofin Digital Payments Infrastructure Fund (ETPA)

Rhea-AI Summary

Ecofin Digital Payments Infrastructure Fund (NYSE:ETPA) will close and liquidate on November 29, 2022, following a Board decision based on limited growth prospects. The Fund's last trading day is November 28, 2022, coinciding with the final creation unit orders for authorized participants. Post-liquidation, shareholders will receive cash based on the Fund's net asset value (NAV). It's advised that shareholders consult tax advisors regarding the liquidation's tax implications. The Adviser, TIS Advisors, will continue managing its other funds.

Positive

• Continued operation of other funds by TIS Advisors.

Negative

• Limited growth prospects led to the Fund's closure.
• Shareholders will have their shares automatically redeemed if not sold by November 28, 2022.

OVERLAND PARK, KS / ACCESSWIRE / November 14, 2022 / The Board of Trustees of Managed Portfolio Series (the "Trust") has determined to close and liquidate the Ecofin Digital Payments Infrastructure Fund (NYSE:ETPA) (the "Fund") effective immediately after the close of business on November 29, 2022, based upon a recommendation by TIS Advisors (the "Adviser"), the adviser to the Fund. The Adviser has determined that the Fund has limited prospects for meaningful growth. The Adviser will continue to operate its other funds and indices as usual.

The Fund's last day of trading will be November 28, 2022, which will also be the final day for creation unit orders by authorized participants. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after November 29, 2022. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Fund's net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.

The Fund's investment objective, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectus contains this and other important information about the Fund and may be obtained by calling 844-TRINDEX (844-874-6339) or visiting www.ecofininvest.com. Read it carefully before investing.

Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund.

Contact information
For more information contact Jen Ashlock at (913) 981-1020 or info@tortoiseecofin.com.

Quasar Distributors, LLC, distributor

SOURCE: Ecofin

View source version on accesswire.com:
https://www.accesswire.com/725625/Ecofin-to-Close-Ecofin-Digital-Payments-Infrastructure-Fund-ETPA

FAQ

When will the Ecofin Digital Payments Infrastructure Fund (ETPA) close?

The Ecofin Digital Payments Infrastructure Fund (ETPA) will close on November 29, 2022.

What is the last trading day for ETPA?

The last trading day for ETPA is November 28, 2022.

What happens to ETPA shareholders after the liquidation?

ETPA shareholders who do not sell their shares by the last trading day will have their shares automatically redeemed for cash based on the Fund's net asset value (NAV).

Why is the Ecofin Digital Payments Infrastructure Fund being liquidated?

The Fund is being liquidated due to limited prospects for meaningful growth, as determined by the Adviser, TIS Advisors.