MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--Cambria Investment Management, the California-based provider of exchange-traded funds, today announced the scheduled liquidation of the below ETF (the "Fund"), based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients. The Fund scheduled for liquidation:
Fund |
Ticker |
CUSIP |
Cambria Global Tail Risk ETF |
FAIL |
132061805 |
|
|
|
Based upon the recommendation of Cambria Investment Management, L.P., the Fund’s advisor, the Board of Trustees determined on December 3, 2024, that liquidating the fund was in the best interest of the Fund and its shareholders. The Fund represents less than 1% of Cambria Investment Management’s total assets.
Shareholders may sell their holdings in the Fund before the close of trading on Wednesday, January 8, 2025. Customary brokerage charges may apply to these transactions. The Fund will cease trading at the end of the trading day on Wednesday January 8, 2025, and is expected to liquidate on or around Friday, January 15, 2025.
Any individual holding shares in the Fund as of the liquidation date will receive a cash distribution equal to the net asset value of their shares on that date. Cambria Investment Management, L.P. 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 Cambria
Cambria Investment Management, LP ("Cambria" or the "Company") is a SEC registered investment advisor that was formed in 2006. Cambria is an independent, privately owned investment advisory firm focused on quantitative asset management and alternative investments. The Company's mission is to preserve and grow capital by producing above-average absolute returns with low correlation to traditional assets and manageable risk. Cambria investment portfolios and ETFs cover equity-focused strategies, global asset allocation, tail risk, hedged equity, and thematic strategies. The firm manages 16 different ETFs and had over $2.7 billion in assets under management as of 11/30/2024: Cambria Shareholder Yield ETF (SYLD), Cambria Foreign Shareholder Yield ETF (FYLD), Cambria Global Value ETF (GVAL), Cambria Global Momentum ETF (GMOM), Cambria Global Asset Allocation ETF (GAA), Cambria Emerging Shareholder Yield ETF (EYLD), Cambria Value and Momentum ETF (VAMO), Cambria Global Tail Risk ETF (FAIL), Cambria Tail Risk ETF (TAIL), Cambria Trinity ETF (TRTY), Cambria Cannabis ETF (TOKE), Cambria Global Real Estate ETF (BLDG), Cambria Micro and Small Cap Shareholder Yield ETF (MYLD), Cambria Tactical Yield ETF (TYLD), Cambria Chesapeake Pure Trend ETF (MFUT), and Cambria Large Cap Shareholder Yield ETF (LYLD).
To determine if the Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and other information can be found in the Fund’s prospectus which may be obtained by calling 855-383-4636 (ETF INFO) or visiting our website at www.cambriafunds.com. Read the prospectus carefully before investing or sending money.
SYLD, FYLD, EYLD, MYLD, LYLD, TYLD, TAIL, FAIL, VAMO, GMOM, TRTY, GAA, BLDG, TOKE, and GVAL, are distributed by ALPS Distributors, Inc., 1290 Broadway, Suite 1000, Denver, CO 80203. MFUT is distributed by Foreside Fund Services, LLC. ALPS, Foreside, and Cambria are not related.
Investing involves risk, including potential loss of capital.
FAIL: Derivatives are financial instruments that derive their performance from an underlying reference asset, such as an index. Derivatives, such as put options, can be volatile, and a small investment in a derivative can have a large impact on the performance of the Fund as derivatives can result in losses in excess of the amount invested. Options used by the Fund to offset its exposure to tail risk or reduce volatility may not perform as intended. There can be no assurance that the Fund’s put option strategy will be effective. The put option strategy may not fully protect the Fund against declines in the value of its portfolio securities. Prolonged rising interest rates may adversely affect performance.
Prior to 3/15/21, FAIL operated as Cambria Sovereign Bond ETF (SOVB). On that date, the investment strategy and objective also changed. Any performance prior to 3/15/21 was achieved under the previous strategy.
FAIL is actively managed.