Evolve Funds Group Inc. is terminating three ETFs, the company announced Friday.
On or about March 28, the Toronto-based firm will terminate the following funds:
- Sphere FTSE Europe Sustainable Yield Index ETF
- Sphere FTSE Canada Sustainable Yield Index ETF
- Evolve Blockchain ETF
Evolve will request that the TSX de-list the units of the ETFs from the exchange on or about March 26, with all units still held by investors being subject to a mandatory redemption as of the termination date, the release says.
Effective Feb. 26, no further subscriptions for units will be accepted, the company says in a release.
Following the termination date, the manager will distribute the funds’ net assets pro rata among unitholders of record as of that date.