FT Raymond James Multcp Gr Eq ETF (RJMG) Stock Price, News & Analysis

First Trust Exchange-Traded Fund VIII is the First Trust exchange-traded fund trust associated with the FT Raymond James Multicap Growth Equity ETF, which traded on NYSE Arca under the ticker RJMG. The ETF was launched as an actively managed fund seeking long-term capital appreciation through a portfolio of U.S.-listed growth equity securities across multiple market capitalizations.

RJMG's investment approach centered on a model portfolio developed and overseen by Raymond James & Associates, Inc. as non-discretionary investment sub-advisor. The model portfolio consisted of recommended investments and weightings drawn from U.S.-listed equity securities rated Strong Buy or Outperform by Raymond James Equity Research based on expected total return or expected outperformance of the S&P 500 Index. First Trust Advisors L.P. served as investment advisor, with First Trust investment committee members responsible for day-to-day portfolio management.

The fund's structure followed the exchange-traded fund model, with shares trading on an exchange and portfolio exposure maintained through creation and redemption activity. First Trust announced that the Board of Trustees of First Trust Exchange-Traded Fund VIII approved a plan of liquidation and termination for the fund following the resignation of Raymond James & Associates as sub-advisor and a recommendation from First Trust Advisors. The announced liquidation process included de-listing of the fund's shares and cash redemption based on net asset value after provisions for fund liabilities.