New Advisor for Simplify Market Neutral Equity Long/Short ETF

Rhea-AI Summary

Simplify Asset Management announces that Simplify EQLS will take over as the investment advisor for the Simplify Market Neutral Equity Long/Short ETF (EQLS) effective May 22, 2024.

The Fund's operations and management, including portfolio managers, will remain unchanged. The Board of Trustees approved the new management agreement on November 29, 2023, and a majority shareholder consented on February 23, 2024.

For more details, refer to the Information Statement available on their website.

Positive

• Simplify EQLS will assume the role of investment advisor for the Fund, potentially providing new expertise and strategies.
• The approval from the Board of Trustees and majority shareholder reflects confidence in the new management.
• Existing portfolio managers and operations will remain unchanged, ensuring continuity.

Negative

• The announcement may introduce uncertainty among investors regarding the new management.
• The effectiveness of Simplify EQLS as the new advisor remains to be seen and could impact future Fund performance.

NYSE Arca: EQLS

NEW YORK--(BUSINESS WIRE)-- Simplify Asset Management Inc. (“SAMI”) announces that Simplify EQLS LLC (the “New Manager’) will assume the role as investment advisor of Simplify Market Neutral Equity Long/Short ETF (the “Fund”), a series of Simplify Exchange Traded Funds (the “Trust”) effective as of May 22, 2024. The operations and day-to-day management of the Fund, including the portfolio managers, will remain the same under the New Manager.

At a meeting held on November 29, 2023, the Board of Trustees of the Trust considered and approved an investment management agreement between the Trust, on behalf of the Fund, and the New Manager, and a shareholder representing a majority of the outstanding voting securities of the Fund as of February 23, 2024 approved the agreement via written consent. Additional details can be found in the Information Statement available here: Information Statement

ABOUT SIMPLIFY EQLS LLC

The New Manager, a Delaware limited liability company located at 222 Broadway, 22nd Floor, New York, NY 10038, was formed on July 26, 2023. The New Manager is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended, and manages only the Fund. SAMI owns 95.1% of the New Manager.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. To obtain the Fund's prospectus containing this and other important information, please call (855) 772-8488, or visit SimplifyETFs.com. Please read the prospectus carefully before you invest. An investment in the Fund involves risk, including possible loss of principal. Past performance does not guarantee future results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240516374997/en/

MEDIA:



Chris Sullivan

Craft & Capital

chris@craftandcapital.com

Source: Simplify Asset Management Inc.

FAQ

When will Simplify EQLS assume the role of investment advisor for EQLS?

Simplify EQLS will assume the role of investment advisor for EQLS on May 22, 2024.

Will there be any changes to the portfolio managers for EQLS after the new advisor takes over?

No, the portfolio managers and operations will remain unchanged under the new advisor.

What approvals were necessary for the new investment advisor to take over EQLS?

The Board of Trustees approved the new management agreement on November 29, 2023, and a majority shareholder consented on February 23, 2024.

Where can I find more details about Simplify EQLS taking over as the new advisor for EQLS?

More details can be found in the Information Statement available on the Simplify Asset Management website.