AuthEX, New Owner of LocalShares, to Close Nashville Area ETF (NASH); Expand LocalShares Product Suite of Indexes that Track City Economies

AuthEX, the New York-based company that recently acquired LocalShares, LLC, which serves as the adviser to the Nashville Area ETF (NASH), announced that AuthEX will close this Fund. The Fund plans to liquidate on or around Friday, February 16, 2018.

“As it has in many areas, Nashville was an innovator when it created the concept of a city-based investing vehicle,” said AuthEX CEO Eric Sinoway.  “As it is currently structured, the Nashville Area ETF, as a single fund with the associated regulatory and operating costs, is not a viable business proposition”.

AuthEX plans to expand the LocalShares product suite, which accentuates the potential of city economies, through data and information such as LocalShares’ city-specific indexes which can be leveraged via the company’s electronic platform and more efficiently across new technologies. 

The Nashville Area ETF began trading on the New York Stock Exchange on August 1, 2013, as the first city-based exchange traded fund, comprised of the diverse publicly-traded companies based in Nashville, Tennessee and its surrounding counties.