SAN ANTONIO--(BUSINESS WIRE)--Victory Portfolios II today announced plans to liquidate the VictoryShares International High Div Volatility Wtd ETF (CID), VictoryShares Developed Enhanced Volatility Wtd ETF (CIZ), and VictoryShares Nasdaq Next 50 ETF (QQQN) (the "Funds").
The decision to liquidate the Funds was the result of the Company's regular review of its product lineup to ensure it is best meeting client needs.
After the close of business on October 21, 2024, the Funds will no longer accept purchase orders for Creation Units. Shareholders of the Funds may sell their holdings on the Nasdaq Stock Market prior to the close of trading on October 22, 2024, and customary brokerage charges may apply to these transactions. The Funds will cease trading at the end of the trading day on October 22, 2024. It is anticipated that the Funds will liquidate on or about October 28, 2024. Any person holding shares of the Funds as of the liquidation date will receive a cash distribution equal to the net asset value of their shares as of that date.
Victory Capital Management Inc. (VCM), the adviser to the VictoryShares ETFs, will bear all fees and expenses that may be incurred in connection with the liquidation of the ETFs and the distribution of the cash proceeds to investors, other than brokerage fees and other related expenses.
For tax purposes, shareholders will generally recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares.
About Victory Capital
Victory Capital is a diversified global asset management firm with $177.0 billion in total client assets as of July 31, 2024. The Company employs a next-generation business strategy that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous Investment Franchises and a Solutions Business, Victory Capital offers a wide array of investment products and services, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, a 529 Education Savings Plan, and brokerage services.
Victory Capital is headquartered in San Antonio, Texas, with offices and investment professionals in the U.S. and around the world. To learn more please visit or follow Victory Capital on Facebook, Twitter, and LinkedIn.
Carefully consider a fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus or summary prospectus containing this and other important information, visit . Read it carefully before investing.
VictoryShares ETFs are distributed by Foreside Fund Services, LLC, member FINRA. Foreside Fund Services, LLC is not affiliated with Victory Capital or any of its affiliates, including VCM.
Contacts
Investors:
Matthew Dennis, CFA
Chief of Staff
Director, Investor Relations
216-898-2412
mdennis@vcm.com
Media:
Jessica Davila
Director, Global Communications
210-694-9693
Jessica_davila@vcm.com
