|By PR Newswire||
|January 10, 2014 08:00 PM EST||
MADISON, N.J., Jan. 10, 2014 /PRNewswire/ -- 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.
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained here. The statutory prospectus can be obtained by calling 877-756-PURE (877-7567873). Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. The mining industry is highly volatile due to significant fluctuation in the prices of commodities, as well as political and regulatory developments. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. The Funds are non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. Therefore, the Funds are more exposed to individual issuer volatility than a diversified fund. Funds that are less diversified across countries or geographic regions are generally riskier than more geographically diversified funds and risks associated with such countries or geographic regions may negatively affect a Fund. Investments in small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large capitalization companies. The PureFunds ISE Diamond/Gemstone ETF is subject to risks associated with demand and supply of gemstones in the form of jewelry/investments as well as industrial uses. Changes in consumer taste, consumer confidence, man-made alternatives, and spending among this segment of the population may have an adverse impact on the sale of gemstones in the market. The PureFunds ISE Mining Service ETF is subject to risks associated with adverse market conditions, increased competition, environmental concerns, fluctuations in commodity prices and supply and demand of hard commodities, decreased metals demand and the success of exploration projects. Legal or regulatory changes, as well as changes in governments' policies towards metals, could also adversely impact the mining services sector and therefore Fund performance.
The ISE Diamond/Gemstone Index is designed to reflect the performance of companies involved in the gemstone industry, including companies that produce, explore, and sell gemstones. The stocks are screened for liquidity and weighted according to modified free- float market capitalization. The Index generally is comprised of 20-30 securities. The Index was created and is maintained by ISE Indexes. An investment cannot be made directly in an index.
The ISE Mining Service Index is designed to reflect the performance of companies that manufacture, lease, sell and provide equipment, consulting or other services to the mining and mineral exploration and extraction industry. The stocks are screened for liquidity and weighted according to modified free-float market capitalization. The Index generally is comprised of 30-40 securities. The Index was created and is maintained by ISE Indexes. An investment cannot be made directly in an index.
The Funds' return may not match or achieve a high degree of correlation with the return of the Underlying Index. To the extent a Fund utilizes a sampling approach; it may experience tracking error to a greater extent than if a Fund had sought to replicate the Index. The Fund invests in some economies that are heavily dependent upon trading with key partners. Any reduction in this trading may cause an adverse impact on the economy in which the Fund invests. Funds that are less diversified across countries or geographic regions, such as Africa, Latin America, and Australia, are generally riskier than more geographically diversified funds and risks associated with such countries or geographic regions may negatively affect a Fund. Foreign countries can privatize entities and industries. Privatized entities may lose money or be renationalized. Any reduction in trading with key partners may cause an adverse impact on the economy in which the Fund invests.
Factor Advisors, LLC serves as the investment adviser and Esposito Partners, LLC serves as sub-adviser to the Funds. The Funds are distributed by Quasar Distributors, LLC which is not affiliated with Factor Advisors, LLC or any of its affiliates.
Before you invest in PureFunds ETFs, please refer to the prospectus for important information including investment objectives, risks, charges and expenses. Click here to see the prospectus. You may also obtain a hard copy of the prospectus by calling 1-877-756-PURE (1‐877-756‐7873). The prospectus should be read and considered carefully before you invest.
The Funds are distributed by Quasar Distributors, LLC.
SOURCE Factor Advisors LLC
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,304
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Oct. 24, 2016 09:00 AM EDT Reads: 3,469
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,140
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 24, 2016 08:00 AM EDT Reads: 835
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
Oct. 24, 2016 07:30 AM EDT Reads: 16,430
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 07:30 AM EDT Reads: 2,545
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 24, 2016 07:15 AM EDT Reads: 916
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 24, 2016 05:45 AM EDT Reads: 11,375
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 05:15 AM EDT Reads: 2,517
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, discussed how the ability to access and analyze the massive volume of streaming data from millio...
Oct. 24, 2016 05:00 AM EDT Reads: 3,097
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Oct. 24, 2016 05:00 AM EDT Reads: 5,537
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Oct. 24, 2016 05:00 AM EDT Reads: 2,499
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 24, 2016 05:00 AM EDT Reads: 861
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Oct. 24, 2016 04:45 AM EDT Reads: 3,327
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Oct. 24, 2016 04:30 AM EDT Reads: 2,504