https://www.sec.gov/Archives/edgar/data/1537140/000158064224005603/rondure497.htm497 1 rondure497.htm 497
Rondure New World Fund
Investor Class - RNWOX
Institutional Class - RNWIX
(a series of Northern Lights Fund Trust III)
Supplement dated September 18, 2024 to
the Prospectus and Statement of Additional Information dated August 31, 2024
The Board of Trustees of Northern Lights Fund Trust III (the “Board”) has concluded that it is in the best interests of the Rondure New World Fund (the “Fund”) and its shareholders that the Fund cease operations. The Board has determined to close the Fund and redeem all outstanding shares on or about October 18, 2024 (“Redemption Date”).
Effective immediately, the Fund will not accept any new investments, will no longer pursue its stated investment objective, and will begin liquidating its portfolio and investing in cash equivalents such as money market funds until all shares have been redeemed. Any required distributions of income and capital gains will be distributed as soon as practicable to shareholders and reinvested in additional shares, unless you have previously requested payment in cash.
Prior to or on the Redemption Date, you may redeem your shares, including reinvested distributions, in accordance with the “How to Redeem Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Status, Dividends and Distributions” section in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF THE FUND PRIOR TO THE REDEMPTION DATE WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. If you have questions or need assistance, please contact your financial advisor directly or the Fund at 1-855-775-3337.
This Supplement, and the Prospectus and Statement of Additional Information dated August 31, 2024, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information have been filed with the Securities and Exchange Commission, are incorporated by reference and can be obtained without charge by calling the Fund at 1-855-775-3337.
Comments
Overseas ROSOX was shut in February 2024.
Barron's in 5/24/21 issue mentioned that older value investors were leaving the business or dying. Laura was mentioned as up and coming new generation of value investors with 10+ years ahead of them - well, not for Laura.
"VALUE has lagged badly for so long, that it is risky to pick the NEXT GENERATION of value hunters. But that didn’t stop Barron’s from coming up with the following list (all have 10+ years of career ahead of them).
Pierry PY, 44, Phaeacian (global PPGVX, international PPIVX). That is Greek for world travelers.
Mark COOPER, 52, MAC Alpha Capital (hedge fund). Also teaches at Columbia Business School.
Samantha McLEMORE, 41, Miller Value Partners (LGOAX) and Patient Capital (own new firm). Has small exposure to Bitcoins.
Clare HART, 50, JPM OIEIX. Looks for free cash flow yield and quality value.
Henry ELLENBOGEN, 48 and Anouk DEY, 35, Durable Capital. Dey also teaches at Columbia Business School.
Laura GERITZ, 49, Rondure Global (RNWOX, ROSOX ). Quality-contrarian looks for high returns and free cash flows."
All Rondure funds https://www.morningstar.com/asset-management-companies/rondure-BN00000J7W/funds
ROSOX closure https://www.mutualfundobserver.com/discuss/discussion/61877/rondure-overseas-fund-will-be-liquidated
Website https://rondureglobal.com/
Barron's issue summary at YBB site https://ybbpersonalfinance.proboards.com/thread/121/barron-24-2021-2
September 25, 2024
Dear Fellow Shareholders:
It is with heavy hearts and thoughtful consideration that we inform you that the Rondure New World Fund (RNWOX/RNWIX) will be liquidated on October 18, 2024, and with this closure, we will also be closing Rondure Global Advisors.
The economic landscape of our emerging markets-focused strategies has been challenging for some time. Our entire team has been dedicated to facing those challenges with the constant objective to achieve long-term positive returns for our clients and investors. Unfortunately, recent unforeseen developments within our business have forced us to reevaluate our ability to continue. It is a painful outcome and certainly not a decision we anticipated ever having to make, particularly when we think emerging markets remain such an interesting and compelling long-term investment. We did not make this decision lightly, but ultimately, consideration of the economic and operational realities of continuing the firm have led us to realize closing is the best outcome for our clients.
As an investor in the Rondure New World Fund, you have two options: a) redeem your account prior to October 18, 2024, or b) receive a check for the value of the account shortly after October 18th. Note: If you hold the New World Fund in a taxable account, the IRS will consider either option to be a taxable event.
We would like to thank you for all the years together. It was truly a pleasure serving you; we wish we could continue. We are proud of Rondure and the contribution we’ve made to international investing and diversity within our industry. If you, like us, remain intrigued by the long-term opportunities in the emerging markets space, we have talked with Grandeur Peak Global Advisors about allowing Rondure clients to invest in their soft closed Grandeur Peak Emerging Markets Fund (GPEIX). If you’re interested in exploring this option, please reach out to [email protected] to discuss their Fund and a purchase waiver.
Please let us know if we can be of assistance through this transition, or feel free to call the Rondure Funds shareholder services team at 1-855-775-3337.
Thank you for your understanding and support.
Best regards,
The Rondure Global Advisors Team
Investing involves risk, including loss of principal. An investor should consider investment objectives, risks, charges, and expenses carefully before investing. To obtain a Rondure Fund prospectus, containing this and other information, visit www.rondureglobal.com or call 1.855.775.3337. To obtain a Grandeur Peak Funds prospectus, containing investment objectives, risks, charges and expenses, visit www.grandeurpeakglobal.com or call 1-855-377-PEAK (7325).
Rondure Funds and Grandeur Peak Funds are distributed by Northern Lights Distributors, LLC (Member FINRA / SIPC). Northern Lights Distributors, LLC, is not affiliated with Rondure Global Advisors or Grandeur Peak Global Advisors.
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