New ETF filing highlights one more risk investors need to watch for: unidentified aerial phenomena
The move to add the disclosures in a regulatory filing could be a first. After discussing it with partners, board members and legal counsel, ProcureAM decided it was a necessary step, Chanin said.
"I'm not aware of any financial product in the history of the world that has put out such a risk disclosure," Chanin said. The Procure Space ETF is comprised of companies from around the world that make a majority of their revenue from space-related business activities and services. Up to 20% of the fund includes more diversified air space and defense names, Chanin said.News coverage of possible UAP activity has not prompted fluctuations for the ETF thus far. Still, the company decided now was the right time to acknowledge the potential risks, Chanin said.
"Given that currently there is no identification of these observed phenomena, it is possible that UAPs could create unintentional or deliberate operational, data security, 'cyber' and other interference with the operation of satellites and other objects in space," the company's Wednesday filing states.
"Such activities could result in a significant adverse impact on the Fund's securities, thereby causing the Fund's investment in such portfolio securities to lose value and adversely affecting the Fund's ability to fulfill its investment objectives," it said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gossip Girl Revival's New Trailer Is Full of Secrets, Drama and a New Love Triangle -- XOXOFans of the original series have a lot to be excited as HBO Max takes them back to the Upper East Side to prove the more things change the more nothing has changed at all!
Read more »
Ohio Attorney General Seeks To Declare Google A Public Utility In New LawsuitThe attorney general of Ohio is asking a state court to declare Google a public utility, something that would subject the search giant to extensive government regulation. The lawsuit (read it here)…
Read more »
Coldplay Dance Through a Dystopia in New 'Higher Power' VideoDave Meyers-directed clip finds Chris Martin swinging with aliens on the fictional planet Kaotica
Read more »
Rep. Maloney reacts to new Jan. 6 Senate report, calls for eliminating filibusterChair of the Democratic Congressional Campaign Committee, Rep. Sean Patrick Maloney (D-NY), shares his experience in the House chamber during the Jan. 6 Capitol riot and calls for an independent commission to probe the attack further in the wake of the Senate's new bipartisan report. He also says the Senate must abolish the filibuster to pass key legislation like the 9/11-style commission.
Read more »
New Yorkers Share Their Ranked-Choice-Voting StrategiesWe asked notable New Yorkers — including John Catsimatidis, Cat Marnell, and Chelsea Manning — to share their ranked-choice ballots and the thinking that went into them
Read more »