AGF Announces Closure and Liquidation of AGFiQ Hedged Dividend Income Fund

AGF Announces Closure and Liquidation of AGFiQ Hedged Dividend Income Fund

Written by Customer Service on . Posted in Public Companies.

BOSTON, May 27, 2022 (GLOBE NEWSWIRE) — AGF Investments LLC (TSX:AGF.B) announced today the closure and liquidation of AGFiQ Hedged Dividend Income Fund (DIVA) on or about June 28, 2022.

The decision to close and liquidate was driven by the firm’s continued effort to simplify and streamline their offerings; as well as the small number of investors, relatively low assets and the costs associated with maintaining the ETFs.

The last day of trading on NYSE Arca, Inc. (“NYSE Arca”) for the Fund is expected to be June 13, 2022. Effective upon the close of business on June 13, 2022, the Fund will no longer accept orders for the purchase of Creation Units. Beginning today, the Fund may not pursue investment objective or engage in normal business activities, except for the purposes of winding up business and affairs, preserving the value of assets, paying liabilities, and distributing remaining assets to shareholders pursuant to the plan of liquidation approved by the Board.

The liquidation date for the Fund will be on or about June 28, 2022 (“Liquidation Date”). There can be no assurance that there will be a market for the purchase or sale of Fund shares during the time between the market close on June 13, 2022 and the Liquidation Date, because Fund shares will no longer be traded on NYSE Arca.

In connection with the liquidation, any shares of the Fund outstanding on the Liquidation Date will be automatically redeemed as of the close of business on the Liquidation Date without the imposition of customary redemption transaction fees. Although the liquidation is not expected to be a taxable event for the Fund, for taxable shareholders, the automatic redemption of shares of the Fund on the Liquidation Date will generally be treated as a sale that may result in a gain or loss for federal income tax purposes. Instead of waiting until the Liquidation Date, a shareholder may voluntarily sell his or her shares on NYSE Arca (subject to customary transaction fees) until the market close on June 13, 2022.

Before investing you should carefully consider the Fund’s investment objective, risks, charges and expenses. This and other information is in the Fund’s prospectus which can be obtained by visiting www.AGF.com. Please read the prospectus carefully before you invest.

Risks: There is no guarantee that the Fund will achieve its objective. An investment in the Fund is subject to risk including the possible loss of principal amount invested. The risks associated with the Fund is detailed in the prospectus and includes, but is not limited to, tracking error risk, mid-cap risk, industry concentration risk, market neutral style risk, short sale risk and specific risks related to exchange traded funds. There is a risk that during a “bull” market, when most equity securities and long only ETFs are increasing in value, the Fund’s short positions will likely cause the Fund to underperform the overall U.S. equity market and such ETFs. The Fund may not be suitable for all investors

About AGFiQ

AGFiQ is a collaboration of investment professionals from AGF Investments Inc. (AGFI), a Canadian registered portfolio manager, and of AGF Investments, LLC (formerly FFCM), a U.S. registered adviser. This collaboration makes up the quantitative investment team.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With over $40 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Media Contact

Amanda Marchment
Director, Corporate Communications
416-865-4160
amanda.marchment@agf.com

Distributor: Foreside Fund Services, LLC

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