SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

Factor Advisors Announces the Closing of the PureFunds™ ISE Diamond/Gemstone ETF (NYSE Arca: GEMS) and the PureFunds™ ISE Mining Service ETF (NYSE Arca: MSXX)

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.

For more information about PureFunds ETFs, call 1-877‐756‐PURE (1‐877‐756-7873), e-mail [email protected], or visit www.PureETFs.com.

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.

About PureFunds®
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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...