Will the liquidation trigger any changes in the fund’s expense ratio or other cost structures before the final liquidation?

Answer

The pending liquidation of the Range India Financials ETF (INDF) does not automatically alter the fund’s published expense‑ratio or other ongoing cost‑structures for the short period that remains before the final wind‑down. The expense ratio is a static, disclosed figure that reflects the annual operating costs while the fund is an active, listed product. Once the Board has approved the termination, the ETF will cease trading, and the expense‑ratio effectively becomes moot—shareholders will no longer incur the ongoing management fee because the fund’s assets are being sold and distributed.

What does change, however, are the one‑time liquidation expenses that are disclosed in the fund’s prospectus and in the final liquidation notice. These include:

• Redemption‑or‑sale transaction costs (broker‑dealer commissions, market‑impact spreads, and any bid‑ask concessions the adviser must make to close positions).
  
• Administrative wind‑down fees (legal, accounting, and custodial fees) that are charged out of the remaining asset pool before the final distribution.
  
• Potential “liquidation fee” that some ETFs impose to cover the cost of unwinding the portfolio; this is a separate line‑item from the expense ratio and is typically disclosed in the final liquidation statement.

Trading implications

• Stop‑trading: INDF will be removed from the NYSE listings shortly after the liquidation date. Expect the ticker to be halted and eventually delisted—no further market‑price exposure.
  
• Final NAV settlement: Investors will receive a final distribution based on the net asset value (NAV) after all liquidation costs are deducted. The distribution will be credited to the accounts of shareholders of record on the cut‑off date.
  
• Actionable step: If you still hold INDF shares, confirm the record‑date for the final distribution, ensure your brokerage account can receive the cash or in‑kind settlement, and consider reallocating the proceeds into a comparable India‑focused vehicle or a broader emerging‑market ETF to maintain exposure.
  

In short, the liquidation will not trigger a mid‑process change to the expense ratio; instead, it will replace the ongoing fee structure with a set of disclosed, one‑off liquidation costs that will be deducted from the final NAV before the cash or securities are paid out to shareholders.