WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today approval of the liquidation of First Trust Chindia ETF (NYSE Arca: FNI), a series of First Trust Exchange-Traded Fund (the “Fund”).
Based upon the recommendation of FTA, the investment advisor of the Fund, the Board of Trustees of First Trust Exchange-Traded Fund determined that it was in the best interests of the Fund to liquidate the Fund. Accordingly, the Board of Trustees approved the liquidation of the Fund pursuant to a plan of liquidation and termination.
Shareholders may sell their holdings in the Fund prior to the end of the trading day on January 13, 2023. Customary brokerage charges may apply to these transactions. The last day the Fund will accept creation and redemption orders is January 13, 2023 and the Fund’s shares will subsequently be de-listed. The Fund will liquidate on or around January 20, 2023. Any person holding shares in the Fund as of January 18, 2023 will receive a cash redemption amount equal to the net asset value of such shares after the Fund has discharged and/or made reasonable provisions for the payment of all of its charges, taxes, expenses and liabilities. Shareholders generally will recognize a capital gain or loss on any redemption.
FTA is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate, First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $199 billion as of November 30, 2022 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and SMAs. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.
The Fund’s daily closing price and net asset value per share as well as other information can be found at www.ftportfolios.com.
