Factor Advisors LLC, the investment adviser to each series of FactorShares Trust, announced today that the PureFunds™ ISE Diamond/Gemstone ETF (NYSE Arca: GEMS) and the PureFunds™ ISE Mining Service ETF (NYSE Arca: MSXX) will be closed and liquidated in a measure aimed to benefit shareholders. After careful consideration, and at the recommendation of Factor Advisors and PureShares LLC, the business manager to the Funds, the Board of Trustees of FactorShares Trust has approved the closing and subsequent liquidation of GEMS and MSXX. Accordingly, each Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders on or about January 24, 2014.
The last day of trading of shares of the Funds on the NYSE Arca will be January 23, 2014. Following the last day of trading and prior to the Liquidation Date, shareholders will not be able to purchase or redeem shares from the Funds and will be unable to purchase or sell them in the secondary market. Prior to the last day of trading, shareholders may continue to purchase and sell Fund shares through a broker in the standard manner. Customary brokerage charges may apply to such transactions. Effectively immediately, each Fund will increase its cash holdings in contemplation of its liquidation. As a result, through the Liquidation Date, each Fund will deviate from its investment objective and strategies, as stated in the Fund’s Prospectus, as it winds up its business and affairs.
About Factor Advisors®
Factor Advisors, LLC is a wholly owned subsidiary of GENCAP Ventures, LLC (GENCAP), an Exchange Traded Funds products and services company. GENCAP offers a full range of ETF services to the investment management community through its subsidiaries: Factor Advisors, LLC, Factor Capital Management, LLC, ETF Service Providers, LLC and GENCAP Strategies, LLC. The services provided include product management, ETF wholesaling and marketing. GENCAP offers a broad range of services for ’33 Act commodity products as well as both active and passive ’40 Act ETF funds.
As an innovator of ETF concepts, PureFunds strives to provide the market with easy access to in-demand niche sectors through Pure‐Play ETFs. PureFunds is a New Jersey based research and business management firm, serving as the Business Manager to the PureFunds ISE Diamond/Gemstone ETF, PureFunds ISE Mining Service ETF, and PureFunds ISE Junior Silver (Small Cap Miners/Explorers) ETF. PureFunds aims to provide investors with tactical ETFs that may offer attractive investment opportunities in sectors that traditionally have been difficult to invest in.