FLEXSHARES® TRUST
FlexShares® Ultra-Short Income Fund (formerly, FlexShares® Ready Access Variable Income Fund) (RAVI) (the Fund)
SUPPLEMENT DATED AUGUST 14, 2023 TO THE FUNDS STATEMENT OF ADDITIONAL INFORMATION (SAI), DATED MARCH 1, 2023, AS AMENDED JULY 31, 2023
Effective immediately, the number of shares in a Creation Unit for the Fund is 10,000 shares or multiples thereof. All references to a Creation Unit block size of 25,000 shares for the Fund in the SAI is deleted and replaced with a Creation Unit block size of 10,000 shares.
The standard purchase/redemption transaction fee is $0 for the Fund. All references to a standard purchase/redemption transaction fee of $175 for the Fund in the SAI is deleted and replaced with a standard purchase/redemption transaction fee of $0.
Accordingly, the SAI is updated as follows:
1. | The table under the section entitled GENERAL DESCRIPTION OF THE TRUST AND THE FUNDS on page 1 of the SAI is deleted and replaced with the following: |
FUND |
NUMBER OF SHARES PER CREATION UNIT | |
FlexShares® Ultra-Short Income Fund |
10,000 | |
FlexShares® Core Select Bond Fund |
25,000 |
2. | The table under the section entitled PURCHASE AND REDEMPTION OF CREATION UNIT AGGREGATIONS PURCHASE AND ISSUANCE OF CREATION UNIT AGGREGATIONS Purchase Transaction Fee on page 64 of the SAI is deleted and replaced with the following: |
FUND |
Fee for In-Kind and Cash Purchases |
Maximum Additional Variable Charge for Cash Purchase* | ||
FlexShares® Ultra-Short Income Fund |
$0 | 3.00% | ||
FlexShares® Core Select Bond Fund |
$0 | 3.00% |
* | As a percentage of the net asset value per Creation Unit. |
3. | The table under the section entitled PURCHASE AND REDEMPTION OF CREATION UNIT AGGREGATIONS PURCHASE AND ISSUANCE OF CREATION UNIT AGGREGATIONS Redemption of Creation Units on page 65 of the SAI is deleted and replaced with the following: |
FUND |
Fee for In-Kind and Cash Redemptions |
Maximum Additional Variable Charge for Cash Redemption* | ||
FlexShares® Ultra-Short Income Fund |
$0 | 2.00% | ||
FlexShares® Core Select Bond Fund |
$0 | 2.00% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard transaction fee. |
Please retain this Supplement with your SAI for future reference.