MALVERN, Pa.--(BUSINESS WIRE)--After careful consideration, the Board of Trustees of Pacer Funds Trust has determined to close and liquidate the Pacer Benchmark Retail Real Estate SCTR ETF (NYSE:Arca RTL). Pacer Advisors, Inc. serves as the investment adviser to the Fund.

The Fund will be closed to orders for new creation units as of May 21, 2020, and the last day of trading of the Fund’s shares on the NYSE: Arca Exchange will be May 21, 2020. From May 11, 2020 through May 21, 2020, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for Fund shares during that time period. Customary brokerage charges may apply to such transactions. The Fund will liquidate on or around May 22, 2020 (the “Liquidation Date”).

Beginning on May 11, 2020, the Fund will be liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund’s prospectus.

On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, the Fund's net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Fund will terminate.

For additional information, please call (877) 337-0500 or visit www.paceretfs.com.