Fund Shuts Down After Smooth Merger Payout
Published Date: 7/30/2025
Notice
Summary
An investment company has officially closed shop by moving its assets to Horizon Funds and giving its shareholders their final payout on April 17, 2025. The costs of this move, totaling $585,676, were covered by the advisers, so no extra charges hit the shareholders. This change means the company is no longer registered as an investment company as of mid-2025.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Final shareholder payout on April 17, 2025
The fund transferred its assets to Horizon Funds and made a final distribution to its shareholders on April 17, 2025 based on net asset value. If you held shares, you received that final payout on that date.
Reorganization expenses paid by advisers
Expenses of $585,676 related to the reorganization were paid by the fund's investment adviser and the acquiring fund's investment adviser. Shareholders were not charged those $585,676 in expenses.
Fund deregistered in mid-2025
The applicant ceased being an investment company and is no longer registered as an investment company as of mid-2025. This formal deregistration followed the asset transfer and final shareholder distribution.
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