Fund Bows Out After Final Shareholder Payout
Published Date: 9/3/2025
Notice
Summary
A closed-end investment company has officially stopped being an investment company after moving its assets to First Trust Exchange-Traded Fund VIII. On June 30, 2025, it gave its final payout to shareholders and covered reorganization costs of about $451,617. This change means the company is now deregistered, simplifying its status and wrapping up its business smoothly.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Final Payout to Fund Shareholders
Shareholders of the closed-end fund received a final distribution on June 30, 2025 based on net asset value after the fund transferred its assets to First Trust Exchange-Traded Fund VIII. That distribution accompanied the fund's cessation of registration as an investment company.
Reorganization Expenses Paid by Fund and Adviser
Expenses of $451,616.94 incurred in connection with the reorganization were paid by the applicant and the applicant's investment adviser. The application reflecting these actions was filed on August 4, 2025.
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