This release is meant to clarify the release that was posted on April 18th, 2024. The release refers to NASDAQ:FIXT.
FIXT ETF offers unique opportunity to invest in risk mitigation and recovery efforts from natural disasters
LEVITTOWN, PA / ACCESSWIRE / April 19, 2024 / In honor of Earth Day, ProcureAM LLC, advisor to the Procure Disaster Recovery Strategy ETF (ticker: FIXT), will voluntarily and temporarily reimburse all fund expenses, effective April 22nd, 2024. The advisor will voluntarily pay all expenses of the fund so that the fund's total management fee and other operating expenses, excluding market impact, trading, commissions and taxes expenses remain at zero until the earlier of (1) the fund reaches $50 million in total net assets or (2) October 31, 2024, whichever occurs first. This voluntary and temporary reduction of FIXT expenses to zero is in addition to the contractual obligations of the advisor's Expense Limitation Agreement to reduce all fees and expenses to an amount not exceeding 0.75% of the fund's daily net assets through February 28, 2025.
During this promotional period, the daily net asset value (NAV) of the ETF will not reflect any daily management fee deductions or other fund expenses, as ProcureAM will absorb these ETF fees and expenses. This initiative will not be shown in the fund's prospectus but is highlighted directly through this press release.
"This Earth Day, we're not just celebrating our planet, we're protecting it. By removing the management fee and other expenses on FIXT, we aim to make it easier for investors to support companies that are protecting communities against the risk of natural disasters and leading the recovery efforts following such events," said Andrew Chanin, CEO of ProcureAM. "These companies address immediate threats and develop long-term solutions that enhance resilience against natural disasters. Our decision to waive FIXT's management fee and pay the fund's other expenses reflect our commitment to supporting these critical efforts."
FIXT invests in companies across the entire spectrum of natural disaster management, including detection, prevention and recovery efforts. Holdings include companies like AECOM* (ACM), which designs and builds disaster resilient infrastructure, and Generac (GNRC), which provides mobile and standby generators. Additionally, companies like Stantec (STN CN) designs and builds resilient water systems, infrastructure and sustainable transportation, Xylem* (XYL) is working to reduce water scarcity, data analysis and forecasts of rising water levels, and water decontamination, and Ecolab* (ECL) is positioned to decontaminate water supplies, provide ground treatments and get water systems operational.
To learn more about FIXT, the Procure Disaster Recovery Strategy ETF, visit www.ProcureETFs.com or contact ProcureAM at [email protected]
About ProcureAM
ProcureAM, LLC (ProcureAM) is an innovative exchange-traded product (ETP) issuer based in Levittown, Pennsylvania. Established by renowned industry veterans Robert Tull and Andrew Chanin, ProcureAM offers a unique platform for the creation of both proprietary and partnered ETPs. ProcureAM listens to clients and endeavors to provide investors with access to distinct investment opportunities. Whether you are looking to invest in ETPs or create one, contact ProcureAM to explore your performance potential: www.ProcureETFs.com.
Media Contact
Gregory FCA for ProcureAM
Olivia DeGirolamo
609-350-3100
[email protected]
*As of April 15th, 2024, AECOM (ACM) was a 2.42% holding, Ecolab (ECL) was a 2.30% holding, Generac (GNRC) was a 2.72% holding, Stantec (STN CN) was a 2.24% holding, Xylem (XYL) was a 2.36% holding in the Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT).
For a complete list of holdings in the Procure Disaster Recovery Strategy ETF, visit https://procureetfs.com/fixt/. Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.
Please consider the Funds investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund's summary prospectus and prospectus, which can be obtained by visiting procureetfs.com. Read carefully before you invest.
Investing involves risk. Principal loss is possible. The Fund is also subject to the following risks: Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns. Securities of small- and mid-capitalization companies may experience much more price volatility, greater spreads between their bid and ask prices and significantly lower trading volumes than securities issued by large, more established companies. The Fund is not actively managed so it would not take defensive positions in declining markets unless such positions are reflected in the underlying index. Please refer to the summary prospectus for a more detailed explanation of the Funds' principal risks. It is not possible to invest in an index.
Natural Disaster/Epidemic Risk - Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and may be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund's investments. Foreign Investment Risks - Foreign securities are typically more volatile, harder to price, and less liquid than U.S. securities.
The Procure Disaster Recovery Strategy ETF is neither associated with, nor endorsed by, the Federal Emergency Management Agency.
The Procure Disaster Recovery Strategy ETF is distributed by Quasar Distributors LLC.
SOURCE: ProcureAM