ACTION NEEDED: EA Bridgeway Blue Chip ETF Account
December 6, 2022
Dear EA Bridgeway Blue Chip ETF Shareholder,
In early September 2022, you received a letter explaining that, pending proxy voting approval, the Bridgeway Blue Chip Fund would be converted into shares of the EA Bridgeway Blue Chip ETF (BBLU) as part of a tax-free reorganization. The letter provided important information about your account and the need for a brokerage account to trade an ETF. As outlined in the timeline included in the letter, on October 14, 2022, shares you held in the Bridgeway Blue Chip Fund (BRLIX) were exchanged for the same share quantity and market value of the EA Bridgeway Blue Chip ETF (BBLU). US Bank is the transfer agent for the ETF and currently holds your shares of the ETF. We believe this change results in multiple advantages for our shareholders:
- Potentially greater tax efficiency
- Even more transparency
- Opportunity for intra-day trading
You are receiving this letter because, at this time, there are some steps you need to take to be able to purchase or sell shares of your newly reorganized ETF.
An ETF is a pooled investment fund, but unlike mutual funds, ETF shares trade on stock exchanges and can be bought or sold throughout the trading day. Because ETFs trade on stock exchanges, a brokerage account is required to trade an ETF. You will need to transfer your account to a brokerage account that can accept shares of an ETF.
For shareholders that have not yet obtained a brokerage account, we allow up to 6 months for this account set-up process to be completed.
How do I transfer to a brokerage account?
- If you have an existing brokerage account for other assets: Contact your preferred provider and tell them you need to transfer shares of your ETF into your brokerage account. If your account at Bridgeway Funds did not have the same registration (title) as your brokerage account, you will need to establish a new account with the same registration. For example, if your Bridgeway Funds account was an individual taxable account, but your brokerage account is an IRA, you will need to open a new individual brokerage account to transfer your shares. Your preferred brokerage account provider can instruct you on how to complete the transfer.
- If you don’t have a brokerage account for other assets: You will need to set up a brokerage account that permits investment in ETFs. You can find information on providers that offer brokerage accounts by searching online. Opening a brokerage account is a similar process to opening a bank account.
- If you have an IRA account and need to process your required minimum distribution (RMD) before year-end 2022, you can call US Bank to obtain your RMD amount, but you will need to process it from another account if you don’t have your shares of the EA Bridgeway Blue Chip ETF (BBLU) transferred to a brokerage account before year-end.
What if I still have questions?
We encourage you to contact your preferred brokerage account provider or US Bank at 800-236-4214. US Bank’s shareholder services specialists can be reached Monday through Friday from 8:00 a.m. to 5:00 p.m. Central Time. We truly appreciate your trust and investment in the EA Bridgeway Blue Chip ETF. We look forward to continuing the quality service and investment management you have come to expect from us.