Northern Trust announced today the scheduled closing of Northern Exchange Traded SharesTM …
The NETS Trust Board of Trustees’ decision was made after consultation with Northern Trust Investments, N.A., the investment advisor to the 17 funds, which had approximately $33 million in assets as of December 31, 2008. The Funds were launched in 2008 and are designed to track international, single-country benchmarks.
The Board considered current market conditions, the inability of the Funds to attract significant market interest since their inception, their future viability as well as prospects for growth in the Funds’ assets in the foreseeable future. The board determined that it was advisable and in the best interests of the Funds and their shareholders to liquidate the Funds, which are listed for trading on NYSE Arca, Inc.
Monday, Feb. 9, 2009, is scheduled to be the last day of trading for the shares of the Funds on NYSE Arca. Any person holding shares in the Funds after the delisting date will receive a cash distribution equal to the net asset value of their shares as determined on Feb. 20, the date of liquidation pursuant to the Funds’ valuation policies. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the cancellation of their shares in the Funds.
The affected Funds are:
| Operational Funds | Ticker Symbol |
| NETS™ S&P/ASX 200 Index Fund (Australia) | AUS |
| NETS™ BEL 20® Index Fund (Belgium) | BRU |
| NETS™ Hang Seng China Enterprises Index Fund | SNO |
| NETS™ CAC40® Index Fund (France) | FRC |
| NETS™ DAX® Index Fund (Germany) | DAX |
| NETS™ Hang Seng Index Fund (Hong Kong) | HKG |
| NETS™ ISEQ 20™ Index Fund (Ireland) | IQE |
| NETS™ TA-25 Index Fund (Israel) | TAV |
| NETS™ S&P/MIB Index Fund (Italy) | ITL |
| NETS™ TOPIX® Index Fund (Japan) | TYI |
| NETS™ AEX-index® Fund (The Netherlands) | AEX |
| NETS™ PSI 20® Index Fund (Portugal) | LIS |
| NETS™ FTSE Singapore Straits Times Index Fund | SGT |
| NETS™ FTSE/JSE Top 40 Index Fund (South Africa) | JNB |
| NETS™ FTSE 100 Index Fund (United Kingdom) | LDN |
| NETS™ FTSE CNBC Global 300 Index Fund | MYG |
| NETS™ Tokyo Stock Exchange REIT Index Fund | JRE |
Source: ETFWorld.co.uk – Northern Trust
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