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TCW Core Plus Bond ETF reports news centered on its launch as an actively managed core plus fixed income ETF following the conversion of the TCW MetWest Intermediate Bond Fund. Company updates focus on the fund's broad fixed income mandate, sector allocation flexibility, total-return objective, adviser relationship with TCW Investment Management Company LLC, and its place within TCW's actively managed ETF suite.
ProcureAM, has announced the closure and liquidation of its Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT). The fund's last full trading day on NASDAQ will be October 17, 2024. After this date, the fund will cease accepting orders for Creation Units and may not pursue its investment objectives. The liquidation date is set for October 24, 2024. Shareholders can sell their shares on NASDAQ until market close on October 17, 2024. Any remaining shares will be automatically redeemed on the Liquidation Date at net asset value. ProcureAM will bear the administration costs of the fund's termination and liquidation. While the liquidation is not expected to be a taxable event for the fund, it may result in taxable gains or losses for shareholders.
The Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT) has seen a 35.02% increase in its net asset value (NAV) as of April 30, 2024, since its launch two years ago. The ETF focuses on companies involved in disaster recovery, including infrastructure and mitigation services. Key holdings include Generac, Home Depot, and Lowe's, which provide essential products and services for disaster events. The management fee for FIXT was reduced on Earth Day to support investors interested in this market. Despite natural disaster risks, the increasing need for resilient infrastructure presents a unique investment opportunity.
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ProcureAM has announced a ticker change for its ETF from FEMA to FIXT, effective February 15, 2023. This change reflects the fund's focus on global companies engaged in natural disaster recovery and risk reduction efforts. The ETF aims to support industries that mitigate damages from climate-related events, with estimates showing annual disaster costs could reach $2 trillion by century's end. The fund tracks the VettaFi Natural Disaster Recovery and Mitigation Index, which includes businesses involved in various recovery sectors. This aligns with the increasing frequency and intensity of natural disasters.