VanEck™UCITS ETFs: Fund Closure FAQs
19thJuly 2024
What are the redemption conditions?
Why and how was this fund selected?
What will be the last day of trading?
What if I do not sell my shares before the Final Exchange Trading Date?
When will the proceeds of the Compulsory redemption be distributed?
What if I do not wish to be automatically redeemed?
How should this be treated for tax purposes?
What about the costs of closure?
| Share Class Name | ISIN |
| VanEck Smart Home UCITS ETF (EUR) Class A |
IE000FN81QD2 |
What are the redemption conditions?
The fund was liquidated on 27 August 2024 at the NAV of 13.1799. For more information, please refer to the official announcement.
Why and how was this fund selected?
After careful consideration following a review of the current product range, taking into account the assets under management and the long-term interests of investors, the Directors have resolved that it is in the best interest of the Fund and their investors to close the VanEck Smart Home UCITS ETF. There has been very little market interest in the Fund since its inception and its assets under management have not met expectations.
What will be the last day of trading?
The last day of trading of the Shares in the Fund on each of the Relevant Exchanges is 19 August 2024, (the "Final Exchange Trading Date").
Furthermore, the final applications for subscriptions and redemptions from Authorised Participants in respect of the Final Dealing Date (21 August 2024) must be received no later than the cut-off times outlined in the Supplement for the Fund on 21 August 2024.
Yes, investors can sell their shares before or on the Final Exchange Trading Date (19 August 2024).
What if I do not sell my shares before the Final Exchange Trading Date?
Investors who have not sold their Shares on or before the Final Exchange Trading Date, or have not validly applied for redemption of their Shares in accordance with the terms of the Prospectus, on or before the Final Dealing Date, and, in each case, who are investors in the Fund as at 30 August 2024 (the “Record Date”), shall have their Shares compulsorily redeemed on 27 August 2024 (the "Compulsory Redemption Date") which will be the day the final net asset value (the “Final NAV”) is calculated.
When will the proceeds of the Compulsory redemption be distributed?
The proceeds of the Compulsory Redemption shall be distributed on or around 3 September 2024 (the "Settlement Date") to such person listed in the Company's register of Shareholders as the holder of the Shares of the Fund as at the Record Date.
Please note that investors buying and selling Shares through a broker or market maker/Authorised Participant and/or investors who hold Shares through a nominee and/or clearing agent, may not appear in the Company's register of Shareholders. Such investors should deal directly with the relevant broker, market maker/Authorised Participant, nominee or clearing agent (as relevant) in respect of their investment.
What if I do not wish to be automatically redeemed?
If you do not wish to be automatically redeemed on the Compulsory Redemption Date, you can (if you are an Authorised Participant) redeem your Shares in the Fund at any time up to and including the Final Dealing Date in accordance with the Fund's normal redemption procedures as set out in the Prospectus.
However, if a redemption request does not settle by the Record Date, such Shares will be compulsorily redeemed against the Final NAV Value as of the Compulsory Redemption Date as part of the Fund’s closure process as outlined above.
How should this be treated for tax purposes?
Investors are advised to consult their own professional advisers as to the tax implications of the Compulsory Redemption and closure of the Fund under the laws of the countries of their nationality, residence, domicile or incorporation.
What about the costs of closure?
The additional costs incurred in respect of closing the Fund will be paid by VanEck Asset Management B.V. The Fund's normal operating costs and transaction costs together with any Cash Redemption Fees will continue to be borne by the Fund and its respective Shareholders in accordance with the terms of the Supplement for the Fund.
If you have any queries concerning the matters outlined in this FAQs page, please contact your local agent, or (if none) VanEck at EMEAsales@vaneck.com.
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