VanEck™UCITS ETFs: Fund Closure FAQs
13thApril 2021
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?
Which funds are closing?
Two funds are closing:
| Share Class Name | ISIN |
| VanEck Natural Resources UCITS ETF (USD) Class A |
IE00BDFBTK17 |
| VanEck Preferred US Equity UCITS ETF (USD) Class A | IE00BDFBTR85 |
Why and how was this fund selected?
VanEck continuously monitors and evaluates its ETFs offerings across a number of factors, including performance, liquidity, assets under management and investor interest, among others. The decision was made, after careful consideration, to liquidate the Funds based on an analysis of these factors and, with regards to VanEck Preferred US Equity UCITS ETF, on the fact that the index provider for the Fund, Wells Fargo Securities, LLC, is transitioning out of the Strategic Indexing Business and the Fund will no longer be able to track or replicate the relevant Index.
What will be the last day of trading?
The last day of trading of the Shares in the Funds on each of the Relevant Exchanges is 12thApril 2021, (the "Final Exchange Trading Date").
Furthermore, the final applications for subscriptions and redemptions from Authorised Participants in respect of the Final Dealing Date (13thApril 2021 for VanEck Preferred US Equity UCITS ETF and 14thApril 2021 for VanEck Natural Resources UCITS ETF) must be received no later than the cut-off times outlined in the Supplement for the Funds on 13thApril 2021.
Yes, investors can sell their shares before or on the Final Exchange Trading Date (12thApril 2021).
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 23rdApril 2021 (the “Record Date”), shall have their Shares compulsorily redeemed on 20thApril 2021 (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 27thApril 2021 (the "Settlement Date") to such person listed in the Company's register of Shareholders as the holder of the Shares of the Funds 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 Funds 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 Funds closure process as outlined above.
You may also wish to acquire an alternative ETF within VanEck UCITS ETF plc range.
If you would like further information, please contact VanEck using the details set out below. Investors should seek their own advice as to the suitability of any alternative investment option.
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 Funds 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 Funds 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 Funds and its respective Shareholders in accordance with the terms of the Supplement for the Funds.
If you have any queries concerning the matters outlined in this FAQs page, please contact your local agent, or (if none) VanEck at international@vaneck.com.
About VanEck
Founded in 1955, VanEck has been driven by innovation and stands for intelligently designed, forward-looking investment strategies. As of March 8, 2021, VanEck managed approximately USD 90 billion in assets, including ETFs, mutual funds and institutional accounts.
With more than 90 ETFs globally, the asset manager offers a comprehensive portfolio covering numerous sectors, asset classes and smart beta strategies. VanEck was one of the first asset managers to offer investors access to international markets. The objective has always been to identify new trends and asset classes – such as Gold Investments (1968), Emerging Markets (1993) and ETFs (2006), which have shaped the investment industry to this day.
VanEck is headquartered in New York City and has offices in Frankfurt (Germany), Pfaeffikon/SZ (Switzerland), Amsterdam (Netherlands), Sydney (Australia) and Shanghai (China).