NEW YORK, June 22, 2023 /PRNewswire/ — Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the scheduled liquidation of the Global X MSCI Nigeria ETF (NGE).
Based upon the recommendation of Global X Management Company LLC, the Fund’s adviser, the Board of Trustees of the Global X Funds (the “Trust”) determined on June 22nd, 2023 that it was in the best interests of the Fund and its shareholders to move forward with liquidation. The Fund represents less than 1% of the assets of Global X ETFs as of June 22nd, 2023.
Shareholders may sell their holdings in the Fund prior to the end of the trading day on July 28th, 2023, and customary brokerage charges may apply to these transactions. The Fund will cease trading at the end of the trading day on July 28th, 2023. The Fund will liquidate on or around July 28th, 2023. 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 as of that date. The adviser will bear all fees and expenses that may be incurred in connection with the liquidation of the Fund and the distribution of cash proceeds to investors, other than brokerage fees and other related expenses.
About Global X ETFs
Global X ETFs was founded in 2008. For more than a decade, our mission has been empowering investors with unexplored and intelligent solutions. Our product lineup features more than 100 ETF strategies and over $40 billion in assets under management.i While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Risk Management funds to suit a wide range of investment objectives. Explore our ETFs, research and insights, and more at www.globalxetfs.com.
Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with more than $520 billion in assets under management worldwide.ii Mirae Asset has an extensive global ETF platform ranging across the US, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea, and Vietnam with over $80bn in assets under management.iii
Important Information
Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.
Investment in African securities involves heightened risks, including expropriation and/or nationalization of assets, confiscatory taxation, political instability including authoritarian and/or military involvement in governmental decision-making, armed conflict, the impact on the economy as a result of civil war, and social instability as a result of religious, ethnic and/or socioeconomic unrest and, in certain countries, genocidal warfare. The economic development of Nigeria has been significantly hindered by military rule, mismanagement, corruption and ethnic conflict. The Nigerian economy is heavily dependent on oil, which may subject the Fund to greater volatility. NGE is non-diversified.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
Carefully consider the fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the fund’s full or summary prospectuses, which may be obtained at globalxetfs.com. Please read the prospectus carefully before investing.
Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments.
Media Contact
Ariel Kouvaras, Sloane PR
212-446-1884
[email protected]
i Source: Global X ETFs, as of June 6, 2023
ii Source: Mirae Asset, as of April 2023
iii Source: Mirae Asset, as of April 2023
SOURCE Global X Management Company LLC
