Fund is built around deep value investing concepts articulated by
Tobias Carlisle in his best-selling book “The Acquirer’s Multiple”

TORRANCE, Calif.–(BUSINESS WIRE)–The
Acquirers Fund (ticker: ZIG), a deep value ETF that will hold long
positions in deeply undervalued, fundamentally strong targets for
activists and buyout firms, and short positions in overvalued,
financially weak companies, begins trading on the NYSE Arca this morning.

“I am very excited to be announcing the launch of ZIG,” said Tobias
Carlisle, founder of Acquirers Funds, the firm behind this new ETF, and
author of the best-selling books The Acquirer’s Multiple, Deep
Value, and Quantitative Value, which set out the philosophy
underpinning the fund. “In 2019, after one of the most prolonged growth
rallies ever, value spreads are widest since the run-up to the Great
Depression and the Dot Com bubble.¹ Historically, the base
rate for investing in value after it has disappointed and spreads are
wide has been extremely attractive.² As a concentrated,
130/30 long/short deep-value fund, ZIG is designed to maximally exploit
this rare opportunity.”

“Previous attempts to bring a long/short value strategy to the broad
investment marketplace have had a number of key shortcomings, including
high fees, which in some cases were in excess of three percent; were
mere value “factor” funds, which have seen the outperformance arbitraged
away; were too broadly diversified to deliver outperformance; or
included what we feel are useless metrics like profitability for
marketing purposes, resulting in diluted portfolios that couldn’t
capture deep value opportunities,” added Carlisle.

“We begin our investment process with the ‘acquirer’s multiple,’ the
measure financial acquirers such as activists and buyout firms use to
find potential targets,” he continued. “We take a holistic approach to
valuation, examining assets, earnings, and cash flows³,
to understand the economic reality of each company. An important part of
this process is a forensic-accounting diligence of the financial
statements, particularly the notes and management’s discussion and
analysis, to find information that may impact investment decisions. We
find most of our short positions revealed here. That type of thinking
and research is what we’ve looked to build into ZIG, so investors of all
types and sizes can now add the same approach to their portfolios via a
liquid, low-cost ETF.”

ZIG is a 130/30 long/short deep-value strategy that is designed to
track, before fees and expenses, the performance of The Acquirer’s
Index. For both long and short positions, a stock must be listed in the
U.S. and have a market cap in the largest 25 percent of all companies by
market cap. From that universe of equities, ZIG’s rules-based index will
hold the 30 most deeply undervalued, fundamentally strong stocks in the
“long” portion of its portfolio, while its short portfolio will consist
of the 30 stocks deemed to be most overvalued, and fundamentally weak.

“There is no shortage of value-factor ETFs available today, but
value-as-a-factor and value-as-a-philosophy are two very different
things,” said Carlisle. “Any company with a seemingly depressed stock
price can make it through many value screens, but truly undervalued
stocks are much more than ‘cheap’; they also have strong, liquid balance
sheets, and a robust business capable of generating free cash flows⁴,
and more. Looking at the fund landscape of the past several years, it’s
no surprise that many investors may have been disappointed in their
‘value’ investments, but with ZIG, they now have the opportunity to
augment that part of their respective portfolios with a true deep value
approach that’s designed to uncover real opportunities, not just
low-priced stocks.”

ZIG trades on the NYSE Arca with an expense ratio of 0.94 percent. That
expense ratio is well-below the Morningstar category average for
alternative, long/short equity of 2.17 percent and far below the average
“1.6 and 19” fee model charged by alternative, long/short equity
managers.

For more information, please visit acquirersfund.com

About Acquirers Funds

Acquirers Funds, LLC is a deep-value investment firm located in Los
Angeles, California managed by Tobias Carlisle.

An investor should consider the Fund’s investment objectives, risks,
charges and expenses carefully before investing. The Prospectus contains
this and other important information about the Fund and are available by
clicking here or a hardcopy can be obtained by calling . Please
read the prospectus or summary prospectus carefully before investing.

Investing involves risk. Principal loss is possible. The Fund is
non-diversified and may invest more of its assets in a single issuer or
smaller number of issuers than a diversified fund. The Fund is not
actively managed and may be affected by a general decline in market
segments related to the index. To replicate the index’s short positions,
the Fund expects to sell securities short. Short selling may amplify
changes it her Fund’s NAV since it may increase the exposure of the fund
to certain securities. The Fund relies heavily on proprietary
quantitative models as well as information and data supplied by third
parties (Models and Data). When such Models and Data prove to be
incorrect or incomplete, the Index and Fund may not perform as expected.
The Fund invests in securities included in, or representative of
securities included in, the Acquirer’s Index, regardless of their
investment merits. Because the Fund employs a representative sampling
the Fund may experience tracking error to a greater extent than a fund
that seeks to replicate an index. Shares of any ETF are bought and sold
at market price (not NAV) and may trade at a discount or premium to NAV.
The NAV is the value of each share of a fund as determined by the value
of its underlying holdings, including any cash in the portfolio. NAV is
calculated by dividing a fund’s total net assets by its number of shares
outstanding. Shares are not individually redeemable from the Fund and
may be only be acquired or redeemed from the fund in creation units.
Shares of the ETF may be sold throughout the day on the exchange through
any brokerage account. However, shares may only be redeemed directly
from the Fund by Authorized Participants, in very large
creation/redemption units. There can be no assurance that an active
trading market for shares of an ETF will develop or be maintained.

The Acquirers Fund is distributed by Quasar Distributors, LLC

It is not possible to invest directly in an index.

The Acquirer’s Index is composed of the 30 most undervalued,
fundamentally strong stocks listed in the United States selected from
the largest 25 percent of all stocks (equivalent to a market
capitalization greater than approximately $2 billion). The Index is also
composed of 30 short positions of the most overvalued, fundamentally
weak stocks in the same universe. The Index is constructed with a 100%
net equity exposure (130% long, 30% short)

_______________________________

¹ “Bernstein Quants See Historic Divergence Favoring Value
Stocks”: https://www.bloomberg.com/news/articles/2019-03-06/bernstein-quants-go-rogue-and-tout-decade-losing-stock-strategy

² “Value Investors Are Vexed”: https://www.morningstar.com/articles/922787/value-investors-are-vexed.html

³ Cash flow is the net amount
of cash and cash-equivalents being transferred into and out of a
business.

⁴ Free cash flow is the cash a company produces
through its operations, less the cost of expenditures on assets.

Contacts

Media Contact:
Chris Sullivan/Julia Stoll
MacMillan
Communications
(212) 473-4442
[email protected]