NEWPORT BEACH, Calif., Sept. 14, 2020 (GLOBE NEWSWIRE) — Pacific Global ETFs today announced the liquidation of its two, equity exchange-traded funds (ETFs): Pacific Global US Equity Income ETF (NYSE Arca: USDY) and Pacific Global International Equity Income ETF (NYSE Arca: IDY).
The Board of Trustees of Pacific Global ETF Trust approved the liquidations this month. The last day of trading for the two ETFs on the NYSE Arca, Inc. will be October 23, 2020. The last day creation orders will be accepted in each ETF will be October 15, 2020. Shareholders may sell their holdings on the NYSE exchange until market close on October 23, 2020. The two ETFs will no longer trade on the NYSE exchange after market close on October 23, 2020 and will be subsequently delisted. The final distribution to shareholders of the affected ETFs is expected to occur on or about October 30, 2020.Shareholders can find more information about Pacific Global US Equity Income ETF here and Pacific Global International Equity Income here, or call (866) 933-2398.
About Pacific Global ETFs
Established in 2018, Pacific Global ETFs is managed by Pacific Global Advisors LLC, a Pacific Life company, and provides actively managed, income-focused investment strategies designed to deliver attractive dividend yields, capital growth and diversification. Pacific Global Advisors pairs the expertise of experienced portfolio managers with the agility and innovation of a startup, building on the legacy of Pacific Life, which was founded in 1868.About Cadence Capital Management
Cadence Capital Management LLC is a global equity manager specializing in factor-based, small- and mid-cap investment strategies. Founded in 1988, Cadence Capital manages more than $1.4 billion (as of July 31, 2020). We manage disciplined, systematic portfolios ranging from single-factor (style) to global multi-factor funds.About Pacific Asset Management
Pacific Asset Management (PAM) specializes in fixed-income investment management based on a foundation of corporate credit research. Founded in 2007, PAM manages over $12.9 billion (as of July 31, 2020). Through our focus on corporate credit securities, we seek to help clients realize the potential of these asset classes to improve portfolio diversification and total return.About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2019 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.Pacific Life refers to Pacific Life Insurance Company and its affiliates. Client count as of June 2019 is compiled by Pacific Life using the 2019 Fortune 500® list. Pacific Life Fund Advisors LLC (PLFA) conducts its fixed income asset management business under the name Pacific Asset Management. Each of Pacific Global Advisors LLC, Cadence Capital Management LLC and PLFA are direct or indirect wholly owned subsidiaries of Pacific Life.Risks and Other Important Information
ETF shares are not individually redeemable from the Funds. Shares may only be redeemed directly from the Funds by Authorized Participants in creation units only.The Funds are actively managed ETFs and, thus, do not seek to replicate the performance of a specified index. Instead, investment decisions are made based on investment views and there is no guarantee that the investment views will produce the desired results or expected returns, which may cause the Fund to fail to meet its investment objective or to underperform its benchmark index or funds with similar investment objectives and strategies. The Funds face numerous market trading risks, including disruptions to the creation and redemption process, losses from trading in secondary markets, the existence of extreme market volatility or potential lack of an active trading market for Shares, which may result in Shares trading at a significant premium or discount to net asset value (NAV). The market prices of Shares will fluctuate in accordance with changes in NAV and supply and demand on the Exchange. If a shareholder purchases Shares at a time when the market price is at a premium to the NAV or sells Shares at a time when the market price is at a discount to the NAV, the shareholder may sustain losses.Changes in foreign economies and political climates are more likely to affect a Fund than a mutual fund that invests exclusively in U.S. companies. If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the U.S. dollar. While a Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. A Fund’s investments in high yield securities or “junk bonds” are subject to a greater risk of loss of income and principal than higher grade debt securities. Fixed income securities are subject to the risk that securities could lose value because of interest rate changes. A Fund could lose money if the issuer or guarantor of a debt instrument in which the Fund invests becomes unwilling or unable to make timely principal and/or interest payments or to otherwise meet its obligations.This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial advisor/financial consultant before making any investment decisions.Before investing, Investors should carefully read the prospectus/summary prospectus and carefully consider the Investment objectives, risks, charges and expenses. For this and more complete information about the funds call (866) 933-2398 or visit www.pacificglobaletfs.com for the prospectus/summary prospectus.Shares of the Fund are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or bank affiliate.Funds are distributed by Foreside Fund Services, LLC.Media Contact:
Caitlyn Foster
pacificglobal@gregoryfca.com
Direct: (610) 228-2056
Cell: (484) 798-7730
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