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First Trust Advisors L.P. has completed the reorganization of the First Trust RiverFront Dynamic Asia Pacific ETF (RFAP) into the First Trust RiverFront Dynamic Developed International ETF (RFDI) effective August 30, 2021. The Board of Trustees approved this change on January 15, 2021. Shareholders of RFAP received RFDI shares equivalent to the net asset value of their RFAP holdings, exchanging at a ratio of 0.782867. RFDI will focus on capital appreciation by investing at least 80% of its assets in equity securities of developed market companies.
First Trust Advisors announced the reorganization of the First Trust RiverFront Dynamic Asia Pacific ETF (Nasdaq: RFAP) into the First Trust RiverFront Dynamic Developed International ETF (Nasdaq: RFDI). This transaction, expected to be tax-free, involves transferring RFAP's assets to RFDI, with RFAP shareholders receiving RFDI shares equivalent to RFAP's net asset value. The move is subject to regulatory approvals and expected to complete by Q3 2021. Both funds will maintain their investment objectives and strategies post-reorganization.
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