Aberdeen Standard Investments (ASI) plans to close and liquidate the Aberdeen Standard Bloomberg WTI Crude Oil Strategy K-1 Free ETF (Ticker: AOIL) (the “Fund”) as part of an ongoing process to review the products made available to investors in order to concentrate its offering on products that experience greater investor demand.
After the close of business on February 14, 2020, Aberdeen Standard Investments ETFs will no longer accept creation requests with respect to the Fund shares (the “Shares”). Trading in the Shares on NYSE Arca will be suspended prior to the market opening on February 17, 2020. Proceeds of the Fund’s liquidation will be paid to the shareholders remaining in the Fund on or about February 20, 2020.
Once the Fund commences the liquidation of its portfolio holdings, the Fund will hold cash and other highly liquid investments. During this time, the Fund will not seek to implement its investment strategy or achieve its investment objective, and is likely to incur higher tracking error than is typical for the Fund. Due to the expiration date of the commodities futures contracts held by the Fund through its subsidiary, ASI expects the Fund will be invested almost exclusively in cash and other highly liquid assets as early as February 7, 2020.Shareholders may sell their Shares on NYSE Arca until the market close on February 14, 2020, and may incur typical transaction fees from their broker-dealer. At the time the Fund’s liquidation is complete, Shares will be individually redeemed. For shareholders that still hold Shares after market close on February 14, 2020, Shares will be redeemed for cash automatically in an amount equal to the net asset value as of the close of business on February 20, 2020, which will reflect the costs of closing the Fund. Shareholders will generally recognize a capital gain or loss on the redemptions. The Fund may or may not pay one or more dividends or other distributions prior to or along with the redemption payments.
For more information about the ETFs available in the U.S., visit www.aberdeenstandard.com/en-us/us/investor/fund-centre.
Aberdeen Standard Investments
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Notes to editors
- Aberdeen Standard Investments is a global asset manager dedicated to creating long-term value for our clients. With over 1,000 investment professionals, we manage $669.6 billion of assets worldwide as of 30 June 2019. We have clients in 80 countries supported by 52 relationship offices. This ensures we are close to our clients and the markets in which we invest.
- We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering investment performance.
- Standard Life Aberdeen plc is headquartered in Scotland. It has over 1 million shareholders and is listed on the London Stock Exchange.
- You can access the Aberdeen Standard Investments media centre here: https://www.aberdeenstandard.com/news-and-media
* Standard Life Aberdeen AUM as of June 30, 2019.
In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers: Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.
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Diversification does not eliminate the risk of experiencing investment losses. Through its exposure to energy commodities, specifically crude oil, the Fund is subject to the risks of the energy sector and companies engaged in energy production and exploration. The energy sector and the price of energy commodity futures may be adversely affected by changes to or trends that affect commodity prices, the imposition of import controls, and government regulations related to environmental protection, health and safety.
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