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Clarkston Select Fund is "hard" closed

TheShadowTheShadow
in Fund Discussions
https://www.sec.gov/Archives/edgar/data/1558107/000139834419000860/fp0038702_497.htm

497 1 fp0038702_497.htm
ALPS Series Trust

Clarkston Select Fund

(the “Fund”)

Supplement dated January 18, 2019

to the Prospectus and Statement of Additional Information dated January 29, 2018, as supplemented

Notice to Close the Clarkston Select Fund

Effective January 28, 2019, the Fund is closed to investment by new and existing shareholders. However, the ability to redeem Fund shares remains unchanged.


INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

Comments

  • LLJB
    M* says they have $12.8 million in AUM and its a large value fund. It sounds more like planning to liquidate rather than being worried about anything else.
  • finder
    Any reason to be interested in this fund?
  • TheShadowTheShadow
    edited January 2019
    Will not be able to do much as the fund is "hard" closed. Funny, why they did not just liquidate the fund when they "hard" closed it since the fund had only $12.8M?

    Why prolong the agony?
  • msf
    To effect a merger.
    https://www.sec.gov/Archives/edgar/data/1558107/000139834418018590/fp0037914_n14.htm

    January 27, 2019

    Dear Shareholder:

    On behalf of the Board of Trustees of ALPS Series Trust (the “Trust”), we are pleased to invite you, as a shareholder of the Clarkston Select Fund, to a Special Meeting of Shareholders to be held on March 13, 2019, at 10:00 a.m., Mountain Time, at the offices of the Trust at 1290 Broadway, Suite 1100, Denver, Colorado 80203.

    At the Special Meeting, you will be asked to approve two proposals.

    Proposal 1: Proposed Agreement and Plan of Reorganization

    Under an Agreement and Plan of Reorganization, the Clarkston Select Fund (the “Selling Fund”) will be reorganized into the Clarkston Fund (the “Acquiring Fund”) subject to shareholder approval (the “Reorganization”).

  • TheShadowTheShadow
    @msf,

    Thanks for the clarification!
  • finder
    According to the announcement, "Effective January 28, 2019, the Fund is closed to investment by new and existing shareholders."

    But January 28 is 9 days from now, right? So can you help us to understand whether there any reason to like this fund?
  • TheShadowTheShadow
    No real reason whatsoever to invest in the fund.

    Fund management will announce the benefit of the reorganization in its shareholder proxy vote. Poor performance and lack of assets have hindered the fund to grow.

    https://www.sec.gov/Archives/edgar/data/1558107/000139834418017599/fp0037575_497.htm
  • David_Snowball
    The terms "Tweedle Dee" and "Tweedle Dum" came to mind as I compared their records.
  • msf
    Look on the bright side. That means they're not doing this merger just to bury the poorer record.
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