NEW YORK, NY / ACCESSWIRE / September 1, 2016 / KraneShares (KFYP), a premier provider of ETFs, announced a two-for-one share split of the issued and outstanding shares of the KraneShares Zacks New China ETF (KFYP). The split will not change the value of a shareholder's investment.
After the close of the markets on September 13, 2016 (the "Payable Date"), the Fund will effect a split of its issued and outstanding shares as follows:
|Fund Name||Split Ratio||Approximate increase in total number of outstanding shares|
|KraneShares Zacks New China ETF||2 for 1||100%|
As a result of the share split, shareholders of the Fund will receive an additional share for each share currently held of the Fund. Accordingly, the number of the Fund's issued and outstanding shares will increase by approximately 100%.
The share split will apply to shareholders of record as of the close of NYSE Arca, Inc. ("NYSE Arca") on September 12, 2016 (the "Record Date"), payable after the close of NYSE Arca on the Payable Date. Shares of the Fund will begin trading on NYSE Arca on a split-adjusted basis on September 14, 2016 (the "Ex-Date"). On the Ex-Date, a shareholder's investment value will not be affected by the share split. However, the per share net asset value ("NAV") and opening market price on the Ex-Date will be approximately one-half for the Fund. The table below illustrates the effect of a hypothetical two-for-one split on a shareholder's investment.
Illustration for 2-for-1 split
|Period||# of Shares Owned||Hypothetical NAV||Total Market Value|
The share split will not result in a taxable transaction for holders of the Fund's shares. No transaction fees will be imposed on shareholders in connection with the share split.
Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. The firm is focused on providing investors with strategies to capture China's importance as an essential element of a well-designed investment portfolio. KraneShares ETFs represent innovative, first to market strategies that have been developed based on the firm and its partners' deep knowledge of investing. These strategies allow investors to stay ahead of global market trends and provide meaningful diversification.
Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds' prospectus and summary prospectus, which may be obtained by visiting www.kraneshares.com. Read the prospectus and summary prospectus carefully before investing.
Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. The Fund focuses its investments primarily on Chinese issuers and issuers with economic ties to China. The Fund is subject to political, social and economic instability within China, which may cause a decline in value. Fluctuations in currency of foreign countries may have an adverse effect on domestic currency values. Emerging markets involve heightened risk related to the same factors, as well as increased volatility and lower trading volume. Current and future holdings are subject to risk.
The KraneShares ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Fund.
For additional information, please contact Brendan Ahern at 1-646-918-6612.
SOURCE: Krane Funds Advisors, LLC