Ivy NextShares Announce Distributions
December 13 2016 - 6:21PM
Business Wire
Ivy Investment Management Co. today announced annual
distributions for its three Ivy NextShares exchange-traded managed
funds. The distribution schedule and amounts for Ivy Energy
NextShares, Ivy Focused Growth NextShares and Ivy
Focused Value NextShares are as follows:
Ivy Energy
NextShares (IVENC)
Ex-Date
Record
Date
Payable
Date
Amount
Dec. 14, 2016 Dec. 16, 2016 Dec. 20, 2016 None
Ivy Focused
Growth NextShares (IVFGC)
Ex-Date
Record
Date
Payable
Date
Amount
Dec. 14, 2016 Dec. 16, 2016 Dec. 20, 2016 $0.0403 per share
Ivy Focused Value
NextShares (IVFVC)
Ex-Date
Record
Date
Payable
Date
Amount
Dec. 14, 2016 Dec. 16, 2016 Dec. 20, 2016 $0.1193 per share
The distributions are expected to be paid from net investment
income (regular interest and dividends). The final tax status of
the distributions may differ substantially from this preliminary
information, which is based on estimates, and the final
determination of such amounts will be made in early 2017 when the
Funds can determine earnings and profits for the 2016 fiscal
year.
Shares of NextShares funds are normally bought and sold in the
secondary market through a broker, and may not be individually
purchased or redeemed from the fund. In the secondary market,
buyers and sellers transact with each other, rather than with the
fund. NextShares funds issue and redeem shares only in specified
creation unit quantities in transactions by or through Authorized
Participants. In such transactions, a fund issues and redeems
shares in exchange for the basket of securities, other instruments
and/or cash that the fund specifies each business day. By
transacting in kind, a NextShares fund can lower its trading costs
and enhance fund tax efficiency by avoiding forced sales of
securities to meet redemptions. Redemptions may be effected
partially or entirely in cash when in-kind delivery is not
practicable or deemed not in the best interests of shareholders. A
fund’s basket is not intended to be representative of the fund’s
current portfolio positions and may vary significantly from current
positions. As exchange-traded securities, NextShares can operate
with low transfer agency expenses by utilizing the same highly
efficient share processing system as used for exchange-listed
stocks and ETFs.
Market trading prices of NextShares are linked to the fund’s
next-computed net asset value (NAV) and will vary from NAV by a
market-determined premium or discount, which may be zero. Buyers
and sellers of NextShares will not know the value of their
purchases and sales until after the fund’s NAV is determined at the
end of the trading day. Market trading prices may vary
significantly from anticipated levels. NextShares do not offer
investors the opportunity to buy and sell intraday based on current
(versus end-of-day) determinations of fund value. NextShares trade
execution prices will fluctuate based on changes in NAV. Although
limit orders may be used to control trading costs, they cannot be
used to control or limit trade execution prices. As a new type of
fund, NextShares have a limited operating history and may initially
be available through a limited number of brokers. There can be no
guarantee that an active trading market for NextShares will develop
or be maintained, or that their listing will continue unchanged.
Buying and selling NextShares may require payment of brokerage
commissions and expose transacting shareholders to other trading
costs. Frequent trading may detract from realized investment
returns. The return on a shareholder’s NextShares investment will
be reduced if the shareholder sells shares at a greater discount or
narrower premium to NAV than he or she acquired the shares.
Risk factors: The value of the Fund’s shares will change,
and you could lose money on your investment. An investment in the
Fund is not a bank deposit and is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government
agency. Ivy Energy NextShares: Investing in companies
involved in one specified sector may be more risky and volatile
than an investment with greater diversification. Investing in the
energy sector can be riskier than other types of investment
activities because of a range of factors, including price
fluctuation caused by real and perceived inflationary trends and
political developments, and the cost assumed by energy companies in
complying with environmental safety regulations. These and other
risks are more fully described in the Fund’s prospectus. Ivy
Focused Growth NextShares: Investing in companies involved
primarily in a single asset class (large cap) may be more risky and
volatile than an investment with greater diversification. Growth
stocks may be more volatile or not perform as well as value stocks
or the stock market. These and other risks are more fully described
in the Fund’s prospectus. Ivy Focused Value NextShares: The
value of a security believed by the Fund’s manager to be
undervalued may never reach what the manager believes to be its
full value, or such security’s value may decrease. Investing in
companies in anticipation of a catalyst carries the risk that
certain of such catalysts may not happen or the market may react
differently than expected to such catalysts, in which case the Fund
may experience losses. The securities of many companies may have
significant exposure to foreign markets as a result of the
company’s operations, products or services in those foreign
markets. As a result, a company’s domicile and/or the markets in
which the company’s securities trade may not be fully reflective of
its sources of revenue. Such securities would be subject to some of
the same risks as an investment in foreign securities, including
the risk that political and economic events unique to a country or
region will adversely affect those markets in which the company’s
products or services are sold. These and other risks are more fully
described in the Fund’s prospectus.
NextShares™ is a trademark of NextShares Solutions LLC. All
rights reserved. Used with permission.
Ivy NextShares funds are managed by Ivy Investment Management
Company and are distributed by ALPS Distributors, Inc.
ALPS Distributors, Inc., NextShares Solutions LLC, and Ivy
Investment Management Company or Ivy Distributors, Inc. (or their
affiliates), are all unaffiliated companies.
Past performance is not a guarantee of future results and future
distributions may be different. This or future distributions may
also be paid from net realized gains from portfolio investments,
unrealized gains, or in certain cases, a return of principal
(non-taxable distributions).
IVY INVESTMENTS® refers to the investment management and
investment advisory services offered by Ivy Investment Management
Company, the financial services offered by Ivy Distributors, Inc.,
a FINRA member broker dealer and the distributor of IVY FUNDS®
mutual funds and IVY VARIABLE INSURANCE PORTFOLIOS℠, and the
financial services offered by their affiliates.
Before investing, investors should consider carefully the
investment objectives, risks, charges and expenses of an Ivy
NextShares exchange-traded managed fund. This and other important
information is contained in the prospectus and summary prospectus,
which may be obtained at www.ivyinvestments.com or
from a financial advisor. Read it carefully before
investing.
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version on businesswire.com: http://www.businesswire.com/news/home/20161213006422/en/
for Ivy Investment Management Co.Nicole Russell, (913)
236-1880VP, Investor Relations
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