SS&C ALPS ADVISORS TO CLOSE AN EXCHANGE-TRADED FUND

Rhea-AI Summary

ALPS Global Travel Beneficiaries ETF will close to new investors on October 16, 2024 and liquidate on October 18, 2024. The Board of Trustees, following the adviser’s recommendation, determined liquidation was in shareholders’ best interests after the Fund failed to attract significant market interest since inception. The last day of trading is scheduled for Thursday, October 17, 2024. The Fund will liquidate its portfolio, increase cash holdings and stop seeking its investment objective during the wind-down. Shareholders of record on the liquidation date will receive a cash distribution equal to net asset value; no transaction fees will be charged for the distribution. Portions of the distribution may be ordinary income or capital gain.

Positive

• Shareholders to receive cash distribution equal to NAV on liquidation date
• No transaction fees charged to shareholders for the liquidation distribution
• Clear timeline: close Oct 16, 2024; last trade Oct 17, 2024; liquidate Oct 18, 2024

Negative

• Fund will liquidate due to inability to attract significant market interest
• Fund will depart from seeking its stated investment objective during wind-down
• From Sep 11 to Oct 17, 2024 there may be limited or no market for Fund shares

Insights

ETF liquidation analyst

ALPS will liquidate the JRNY ETF after failing to attract sufficient investor interest; shareholders receive cash at NAV on liquidation.

The Board of Trustees of the ALPS ETF Trust approved liquidation of the ALPS Global Travel Beneficiaries ETF (JRNY), with the fund closing to new investors on October 16, 2024, the last trading day on October 17, 2024, and liquidation on October 18, 2024. The fund will sell portfolio holdings, increase cash, and stop pursuing its stated investment objective during the wind‑down period.

Key dependencies and risks include the pace and execution of portfolio liquidation and the possibility that secondary market trading becomes illiquid between September 11, 2024 and the last trading day; shareholders who remain exposed to the market risk may not find a ready bid. The distribution on liquidation will equal NAV and may include ordinary income or capital gain components, and there will be no transaction fees for the mandatory cash distribution.

Watch for the exact cash per‑share NAV published around the October 18, 2024 liquidation, notice of any unusual liquidation costs, and any adviser communications about tax characterization of distributions; these items will resolve within days of the stated liquidation date.

09/10/2024 - 04:30 PM

DENVER, Sept. 10, 2024 /PRNewswire/ -- SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), today announced that the ALPS Global Travel Beneficiaries ETF (NYSE ARCA: JRNY) (the "Fund") will close to new investors on October 16, 2024 and liquidate on October 18, 2024.

The decision to close the Fund was made by the ALPS ETF Trust's Board of Trustees upon the recommendation of ALPS Advisors, Inc., the investment adviser to the Fund. Following consideration of the Fund's inability to attract significant market interest since the Fund's inception, its future viability as well as prospects for growth of the Fund's assets in the foreseeable future, the Board determined that it was in the best interests of the Fund and its shareholders to liquidate the Fund's shares, which are listed on the NYSE ARCA. The last day of trading for the Fund is scheduled to be Thursday, October 17, 2024.

The Fund will immediately begin the process of closing down and liquidating its portfolio, which will increase the Fund's cash holdings and cause the Fund to depart from seeking to achieve its investment objective. From September 11, 2024 to October 17, 2024, shareholders may be able to sell their shares of the Fund, but there can be no assurance there will be a market for the Fund's shares.

Any person holding shares in the Fund as of the liquidation date will receive a cash distribution equal to the net asset value of their shares. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Fund. A portion of the distribution may represent an ordinary income dividend or a capital gain distribution.

Important Disclosures
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus containing this and other information, call 1-866-759-5679 or visit www.alpsfunds.com. Read the prospectus carefully before investing.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable.

All investments are subject to risks, including the loss of money and the possible loss of the entire principal amount invested. Additional information regarding the risks of this investment is available in the prospectus.

ALPS Advisors, Inc., registered investment adviser with the SEC, is the investment adviser to the Fund. ALPS Advisors, Inc. is affiliated with ALPS Portfolio Solutions Distributor, Inc.

ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Fund.

Not FDIC Insured • No Bank Guarantee • May Lose Value

About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology. Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

About SS&C ALPS Advisors
SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies, is a leading provider of investment products for advisors and institutions. With over $24.96 billion under management as of June 30, 2024, SS&C ALPS Advisors is an open architecture boutique investment manager offering portfolio building blocks, active insight and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit www.alpsfunds.com.

View original content:https://www.prnewswire.com/news-releases/ssc-alps-advisors-to-close-an-exchange-traded-fund-302244272.html

SOURCE ALPS Global Travel Beneficiaries ETF

FAQ

What are the important dates for JRNY liquidation and last trading?

The Fund closes to new investors on Oct 16, 2024, last day of trading is Oct 17, 2024, and the Fund will liquidate on Oct 18, 2024.

How will JRNY shareholders be paid at liquidation?

Shareholders of record on the liquidation date will receive a cash distribution equal to the Fund’s net asset value.

Will JRNY shareholders pay transaction fees on the liquidation distribution?

No; shareholders receiving the cash distribution will not incur transaction fees in connection with the distribution or liquidation.

Can I sell JRNY shares before liquidation and is a market guaranteed?

From Sept 11 to Oct 17, 2024 shareholders may be able to sell, but there is no assurance a market will exist for the shares.

Why is JRNY being liquidated by ALPS?

The Board determined liquidation was in shareholders’ best interests after considering the Fund’s inability to attract significant market interest and limited prospects for asset growth.

Will any portion of the JRNY distribution be taxable?

A portion of the cash distribution may represent ordinary income or capital gain distributions, which could have tax implications.