|By PR Newswire||
|October 29, 2012 07:05 PM EDT||
OAKLAND, Calif., Oct. 29, 2012 /PRNewswire/ -- United States Commodity Funds LLC, the general partner and sponsor of exchange traded commodity funds, believes that there is a partial disruption in financial markets due to adverse weather such that certain equity markets will remain closed tomorrow, Tuesday, October 30, 2012, while commodity futures markets will remain open. As such USCF is announcing the following status update for all of its funds.
The following funds, which are in the middle of their monthly portfolio re-balance, will continue their monthly re-balance activities on Tuesday, October 30th by buying and selling any required commodity futures contracts.
United States Commodity Index Fund (ticker: USCI)
United States Agriculture Index Fund (ticker: USAG)
United States Metals Index Fund (ticker: USMI)
United States Copper Index Fund (ticker: CPER)
The above-named funds will not be open on Tuesday the 30th for any creation or redemption orders by Authorized Participants.
The following funds are not in the process of any monthly re-balance and do not anticipate buying or selling futures contracts on Tuesday, October 30th. As such, the funds listed below will not be open for creation or redemption orders from Authorized Participants on October 30, 2012:
United States Oil Fund, LP (ticker: USO)
United States Natural Gas Fund, LP (ticker: UNG)
United States 12 Month Oil Fund, LP (ticker: USL)
United States 12 Month Natural Gas Fund, LP (ticker: UNL)
United States Gasoline Fund, LP (ticker: UGA)
United States Diesel-Heating Oil Fund, LP (ticker: UHN)
United States Short Oil Fund, LP (ticker: DNO)
United States Brent Oil Fund, LP (ticker: BNO)
Should the situation change with regards to the status of the various markets, USCF may find it necessary to update the current status with little or no advance notice.
No decision has been made at this time as to the status of any of the above named funds for Wednesday October 31, 2012 or beyond, should weather conditions cause further market disruptions.
For additional information, please call 800-920-0259, or download the prospectus at http://www.unitedstatescommodityfunds.com/.
Distributed by ALPS Distributors, Inc.
This material must be preceded or accompanied by a prospectus. Please read it carefully before investing or sending money.
Commodities and futures generally are volatile and are not suitable for all investors. These funds are speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in these funds. Some funds that focus on a single sector generally experience greater volatility.
None of the above mentioned funds are a registered investment company so investors do not have the protections of the Investment Company Act of 1940, as amended, and these funds are not subject to regulations thereunder. Accordingly, you do not have the protections afforded by that statute which include, for example: (1) controls over activities of an investment company's investment adviser; (2) an express private right of action for shareholders; (3) restrictions on transactions between the fund and the adviser; (4) restrictions on investments; (5) regulation of adviser services and fees; and (6) capital structure requirements, including restrictions on debt.
Investing in commodity futures interests subjects these funds to the risks of the commodities industry and this could result in large fluctuations in the price of these funds' units.
The price of fund's units may be influenced by factors such as the short-term supply and demand for commodity futures and the short-term supply and demand for these units. This may cause the units to trade at a price that is above or below these funds NAV per unit. Accordingly, daily changes in the price of units may substantially vary from the daily changes in the value of the benchmark futures contract. If this variation occurs, then you may not be able to effectively use these funds as a way to indirectly invest in changes in the price of commodities.
For further discussion of these and additional risks associated with an investment in any of these units, see the prospectus that has preceded or accompanied this announcement, downloaded at http://www.unitedstatescommodityfunds.com.
Not FDIC insured, may lose value, no bank guarantee.
An investment in any of these funds is not suitable for all investors. Commodity trading is highly speculative and these funds are not suitable for all investors. These funds are likely to be volatile and could suffer from periods of prolonged decline in value.
Units are not individually redeemable and the owners of Units may purchase or redeem Units from a Fund in Creation/Redemption Units only.
SOURCE United States Commodity Funds LLC