ProShares, a premier provider of alternative exchange traded funds,
announced that beginning today, the London Silver Fix (the benchmark for
the ProShares Silver ETFs) will be renamed the London Silver Price in
conjunction with updates to the calculation of the benchmark.
The London Silver Price will continue to be set at 12:00 GMT each day,
and be tradable and expressed in U.S. dollars per troy ounce.
In May 2014, the company that ran the London Silver Fix announced that
as of August 14, 2014, it would no longer calculate the price of silver
for the London Bullion Market Association (“LBMA”). The LBMA selected
the CME Group and Thomson Reuters to calculate the price. This change
will have no impact on the management or operation of ProShares Ultra
Silver (AGQ) and ProShares UltraShort Silver (ZSL). Please visit the CME
Group website (http://www.cmegroup.com/international/emea/london-silver-price.html)
for additional details.
About ProShares
ProShares offers the nation’s largest lineup of alternative ETFs. We
help investors to go beyond the limitations of conventional investing
and face today’s market challenges. ProShares helps investors build
better portfolios by providing access to alternative investments
delivered with the liquidity, transparency and cost effectiveness of
ETFs. Our lineup of over 145 alternative ETFs can help you reduce
volatility, manage risk and enhance returns.
ProShares has the largest lineup of alternative ETFs in the United
States according to Strategic Insights (“SI”), based on an analysis of
all the known alternative ETF providers (as defined by SI) by their
number of funds and assets (as of 1/31/2014).
These ProShares ETFs seek returns that are 2x or -2x the return of an
index or other benchmark (target) for a single day, as
measured from one NAV calculation to the next. Due to the compounding of
daily returns, ProShares' returns over periods other than one day will
likely differ in amount and possibly direction from the target return
for the same period. These effects may be more pronounced in funds with
larger or inverse multiples and in funds with volatile benchmarks.
Investors should monitor their holdings consistent with their
strategies, as frequently as daily. For more on correlation, leverage
and other risks, please read the prospectus.
Investing involves risk, including the possible loss of principal.
These ProShares are non-diversified and entail certain risks, including
risk associated with the use of derivatives (swap agreements, futures
contracts and similar instruments), imperfect benchmark correlation,
leverage and market price variance, all of which can increase volatility
and decrease performance. Short positions lose value as security prices
increase. Certain derivative instruments will subject the fund to
counterparty risk and credit risk, which could result in significant
losses for the fund. The price of silver is volatile and may be affected
by large institutional purchases or sales, indirect investment in gold
and silver, industrial usage, and political and economic concerns.
Please see the prospectus for a more complete description of risks. There
is no guarantee any ProShares ETF will achieve its investment objective.
Investing in ETFs involves a substantial risk of loss.
ProShares Trust II is a commodity pool as defined in the Commodity
Exchange Act and the applicable regulations of the CFTC. ProShare
Capital Management LLC is the Trust Sponsor and commodity pool operator
(CPO). The Sponsor is registered as a CPO with the CFTC and is a member
of the NFA. Neither these ETFs nor ProShares Trust II are investment
companies regulated under the Investment Company Act of 1940 and neither
is afforded its protections. Please read the prospectus carefully before
investing. These funds generate a K-1 tax form.
This information must be accompanied or preceded by a current
ProShares Trust II prospectus (http://www.proshares.com/funds/trust_ii_prospectuses.html#doc1).
ProShares Trust II (issuer) has filed a registration statement
(including a prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents the issuer has filed
with the SEC for more complete information about the issuer and this
offering. You may get these documents for free by visiting EDGAR on the
SEC website at sec.gov. Alternatively, the issuer will arrange to send
you the prospectus if you request it by calling toll-free (866)
776.5125, or visit proshares.com.
ProShares are distributed by SEI Investments Distribution Co., which is
not affiliated with the funds’ sponsor.
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