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ALPS to close Elevation ETF

ALPS is to close and liquidate one of the exchange traded funds in its Elevation ETF Trust.

The fund – the Summit Water Infrastructure Multifactor ETF – will close to new investors on 26 March 2018 and liquidate on 2 April 2018.
The decision to close the fund was made by the Elevation ETF Trust’s Board of Trustees after consultation with ALPS Advisors, the investment adviser to the Fund. On consideration of current market conditions, as well as prospects for growth in the Fund’s assets among other considerations, the Board determined that it was in the best interests of the Fund and its shareholders to liquidate the Fund’s shares, which are listed on the NYSE ARCA. The last day of trading for the Fund is scheduled to be Thursday 29 March 2018.
The fund will immediately begin the process of closing down and liquidating its portfolio, which will increase the Fund’s cash holdings notwithstanding the Fund’s investment objective and strategies. There can be no assurance that there will be a market for the Fund’s shares between the last day of trading on NYSE Arca (29 March 2018) and the liquidation date (2 April 2018).
Any person holding shares in the fund as of the liquidation date will receive a cash distribution equal to the net asset value of their shares. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the fund. A portion of the distribution may represent an ordinary income dividend or a capital gain distribution.

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