Net Asset Value Restatement for Range Global LNG Ecosystem Index ETF (LNGZ)
Exchange Traded Concepts, (ETC), the investment adviser for the Range Global LNG Ecosystem Index ETF (NYSE Arca: LNGZ), has announced a restatement of the fund's net asset value (NAV) for October 15, 2024. The previously reported NAV of $25.36 per share was understated by $1.71 per share due to an administrative error. The corrected NAV has been revised to $27.07 per share.
ETC confirmed that there were no subscriptions or redemptions during the one-day period affected by the error, and no further changes are expected. The company, which has managed the fund since its inception, provides various investment services and has approximately $7 billion in assets under management as of October 15, 2024, through exchange-traded funds.
Exchange Traded Concepts (ETC), il consulente per gli investimenti dell'ETF Range Global LNG Ecosystem Index (NYSE Arca: LNGZ), ha annunciato una rettifica del valore degli attivi netti (NAV) del fondo per il 15 ottobre 2024. Il NAV precedentemente riportato di $25,36 per azione era sottovalutato di $1,71 per azione a causa di un errore amministrativo. Il NAV corretto è stato rivisto a $27,07 per azione.
ETC ha confermato che non ci sono state sottoscrizioni o rimborsi durante il giorno interessato dall'errore e non sono previsti ulteriori cambiamenti. L'azienda, che gestisce il fondo sin dalla sua creazione, offre vari servizi di investimento e gestisce circa $7 miliardi in attivi sotto gestione fino al 15 ottobre 2024, attraverso fondi scambiati in borsa.
Exchange Traded Concepts (ETC), el asesor de inversiones del ETF Range Global LNG Ecosystem Index (NYSE Arca: LNGZ), ha anunciado una rectificación del valor neto de los activos (NAV) del fondo para el 15 de octubre de 2024. El NAV previamente informado de $25.36 por acción estaba subestimado en $1.71 por acción debido a un error administrativo. El NAV corregido se ha revisado a $27.07 por acción.
ETC confirmó que no hubo suscripciones ni reembolsos durante el día afectado por el error, y no se esperan más cambios. La compañía, que ha gestionado el fondo desde su inicio, proporciona varios servicios de inversión y tiene aproximadamente $7 mil millones en activos bajo gestión al 15 de octubre de 2024, a través de fondos cotizados en bolsa.
Exchange Traded Concepts(ETC)는 Range Global LNG Ecosystem Index ETF (NYSE Arca: LNGZ)의 투자 자문사로서 2024년 10월 15일자 펀드의 순자산가치(NAV)를 재조정한다고 발표했습니다. 이전에 보고된 주당 $25.36의 NAV는 관리 소실로 인해 주당 $1.71가 과소평가되었습니다. 수정된 NAV는 주당 $27.07로 재조정되었습니다.
ETC는 오류가 발생한 하루 동안 구독 및 환매가 없었으며 추가적인 변경이 없을 것으로 예상된다고 확인했습니다. 회사는 펀드 설립 이후 관리하며 다양한 투자 서비스를 제공하고 있으며, 2024년 10월 15일 현재 약 $7억 달러의 자산을 관리하고 있습니다. 이는 상장지수펀드를 통해 이루어집니다.
Exchange Traded Concepts (ETC), le conseiller en investissement de l'ETF Range Global LNG Ecosystem Index (NYSE Arca: LNGZ), a annoncé une réévaluation de la valeur nette des actifs (NAV) du fonds pour le 15 octobre 2024. La NAV précédemment rapportée de $25,36 par action était sous-estimée de $1,71 par action en raison d'une erreur administrative. La NAV corrigée a été revue à $27,07 par action.
ETC a confirmé qu'il n'y avait eu ni souscriptions ni rachats pendant la journée affectée par l'erreur et qu'aucun autre changement n'est prévu. L'entreprise, qui gère le fonds depuis sa création, propose divers services d'investissement et possède environ $7 milliards d'actifs sous gestion au 15 octobre 2024, à travers des fonds négociés en bourse.
Exchange Traded Concepts (ETC), der Anlageberater des Range Global LNG Ecosystem Index ETF (NYSE Arca: LNGZ), hat eine Neuberechnung des Nettovermögenswerts (NAV) des Fonds zum 15. Oktober 2024 bekannt gegeben. Der zuvor berichtete NAV von $25,36 pro Anteil wurde aufgrund eines Verwaltungsfehler um $1,71 pro Anteil zu niedrig angegeben. Der korrigierte NAV wurde auf $27,07 pro Anteil angepasst.
ETC bestätigte, dass es während des von dem Fehler betroffenen ein-tägigen Zeitraums keine Zeichnungen oder Rücknahmen gegeben hat und keine weiteren Änderungen zu erwarten sind. Das Unternehmen, das den Fonds seit seiner Entstehung verwaltet, bietet verschiedene Anlagerdienstleistungen an und verwaltet bis zum 15. Oktober 2024 rund $7 Milliarden an verwaltetem Vermögen über börsengehandelte Fonds.
- Quick identification and correction of the NAV error
- No subscriptions or redemptions occurred during the error period, minimizing potential impact
- Administrative error resulting in a significant NAV understatement of $1.71 per share
- Potential impact on investor confidence due to the reporting inaccuracy
Insights
The NAV restatement for the Range Global LNG Ecosystem Index ETF (LNGZ) is a significant event that warrants attention. The
Positively, ETC acted swiftly to rectify the error, demonstrating good governance. The fact that no subscriptions or redemptions occurred during the affected period mitigates potential harm to investors. However, this incident may raise questions about ETC's internal controls and valuation processes.
For investors, this event underscores the importance of due diligence when investing in ETFs, particularly those tracking niche indices like the LNG ecosystem. It also highlights the potential for NAV discrepancies in less liquid or complex underlying assets. While isolated, such errors can impact investor confidence and may lead to increased scrutiny from regulators.
Exchange Traded Concepts, LLC has served as the Fund's investment adviser since the Fund's inception. ETC is a privately-held company which provides a variety of investment services, including asset management and financial advisory services, with collective assets under management of approximately
Related Links
www.exchangetradedconcepts.com
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SOURCE Exchange Traded Concepts, LLC
FAQ
What was the NAV error for Range Global LNG Ecosystem Index ETF (LNGZ) on October 15, 2024?
Were there any subscriptions or redemptions affected by the LNGZ NAV error on October 15, 2024?
What is the total assets under management for Exchange Traded Concepts, as of October 15, 2024?
When was the NAV error for Range Global LNG Ecosystem Index ETF (LNGZ) discovered and corrected?
