Feb 18. 12:07
Stone Ridge Trust III Files for Deregistration
The Stone Ridge Trust III filed for deregistration on February 18th 2021. The fund was Effective as of March of 2015 and operated for 6 years. At the time of deregistration, the fund was managed by Stone Ridge Asset Management LLC. The fund's assets peaked at $763,148,777, as filed in October of 2019.
The fund listed “Merger” as the reason for deregistration. As noted in the August 13, 2020 filing:
“On August 12, 2020, the Board of Trustees of Stone Ridge Trust III (the “Trust”) approved an Agreement and Plan of Reorganization pursuant to which the Stone Ridge All Asset Variance Risk Premium Fund (“Existing AVRPX”) will be reorganized with and into a new open-end mutual fund series of Stone Ridge Trust also called Stone Ridge All Asset Variance Risk Premium Fund (“New AVRPX” and together with Existing AVRPX, the “Funds”) (such transaction, the “Reorganization”).”
This decision was subject to shareholder approval and was ultimately passed on December 1, 2020 when the voting window closed. More information about the shareholder vote can be found here.
On December 7, 2020, as outlined in the August 13th Filing, “all existing AVRPX shares received a number of Class I shares of New AVRPX equal in dollar value to the common shares held by such shareholder in Existing AVRPX, with each Fund’s shares valued at such Fund’s net asset value per share as of the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. Eastern time) on the closing date of the Reorganization.”
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