Evolve Funds to terminate 3 ETFs

Evolve Funds Group Inc. is terminating three ETFs, the firm said Friday in a release.

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

The manager 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.

Following the termination date, the manager will distribute the funds’ net assets pro rata among unitholders of record as of that date.

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