09/10/2026 | Press release | Distributed by Public on 09/10/2026 15:22
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The Portfolio will be reorganized into Knollbrook Disciplined International Equity ETF (the "New ETF"), which is expected to occur on or around January 8, 2027.
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If you are an existing shareholder of the Portfolio, and your account can hold an exchange-traded fund, your Portfolio shares will be converted, and no action is needed by you.
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If you hold shares of the Portfolio in an account that cannot hold an ETF (i.e., your account is not permitted to purchase securities traded on the stock market), there are certain actions you can take in order to receive shares of the ETF. See the "Questions and Answers" section below for further information.
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All issued and outstanding Institutional Class shares of the Portfolio will be converted to Advisor Class shares of the Portfolio effective after the close of business on or around November 17, 2026 (the "Share Class Consolidation");
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Effective on November 17, 2026, the Advisor will waive the shareholder servicing fee of the Portfolio (the "Waiver").
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Non-Accommodating Brokerage Accounts. If you hold your Portfolio shares in an account with a financial intermediary that only allows you to hold shares of mutual funds in the account, you will need to contact your broker or financial intermediary to transfer your shares to an existing or new brokerage account that permits investment in ETF shares. If you do nothing, you will not receive shares of the New ETF, your position will be liquidated at the time of the Reorganization and you will receive a cash distribution equal in value to the NAV of your Portfolio shares less any fees and expenses your intermediary may charge. This event may be taxable to you. To prevent a taxable event, please contact your broker or financial intermediary to transfer your shares to an existing or new brokerage account.
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Non-Accommodating Retirement Accounts. If you hold your Portfolio shares through an IRA or group retirement plan whose plan sponsor does not have the ability to hold shares of ETFs on its platform, you may need to redeem your shares prior to the Reorganization, or your broker or intermediary may transfer your investment in the Portfolio to a different investment option before or at the time of the Reorganization.
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