Evolve Funds Group announced Jan. 27 that it will terminate the Evolve North American Gender Diversity Index Fund (TSX:HERS and HERS.B), Evolve Marijuana Fund (TSX: SEED) and the Evolve U.S. Marijuana ETF (NEO: USMJ) on or about March 30, 2020.

Evolve will request that the Toronto Stock Exchange and the NEO Exchange Inc. de-list the units of the funds or about March 26, 2020, with all units still held by investors being subject to a mandatory redemption as of the termination date. Effective Feb. 26, 2020, no further subscriptions for units of the funds will be accepted.

Evolve says “the manager will, to the extent reasonably possible, convert the assets of each fund to cash and after paying or making adequate provision for all of the fund's liabilities, as soon as practicable following the termination date distribute the net assets of the Funds pro rata among the unitholders of record…”