Less than a year after coming to market, the Global X Iconic U.S. Brands ETF (BATS: LOGO) will liquidate.
LOGO will stop trading at the end of the trading day on Friday, September 28, 2018 and will liquidate on or about Friday, October 5, 2018.
The ETF tracks the Accuvest Iconic U.S. Brands Index, offering exposure to the most recognizable brands in the U.S. as defined by the index provider, Accuvest Global Advisors. As of Sept. 17, LOGO had $3.31 million in assets under management, representing less than 1% of Global X’s total ETF assets under management.
LOGO’s underlying index includes the top 100 companies according to the Iconic Brands Score, which represents the highest ranking brands from a comprehensive analysis of consumption-focused industries.
The Iconic Brands Strength Score then rewards the companies in the top 100 with the highest revenue growth and absolute cash flow generation with a greater weighting in the Index.
“Any person holding shares in the Fund as of the liquidation date will receive a cash distribution equal to the net asset value of their shares as of that date. Global X Management Company LLC, the adviser to the Fund, will bear all fees and expenses that may be incurred in connection with the liquidation of the Fund and the distribution of cash proceeds to investors, other than brokerage fees and other related expenses,” according to a statement from New York-based Global X.
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