ETF managers are reshuffling their investment menus to better reflect investor interest and demand. And ETFs with too few assets are on the chopping block.
Global X Funds is planning to liquidate eight Global X Funds ETFs. All of the funds are stock ETFs covering emerging markets to narrow industry sectors.
The following Global X ETFs set for liquidation are:
- Global X Russell Emerging Markets Growth ETF (EMGX)
- Global X Russell Emerging Markets Value ETF (EMVX)
- Global X Mexico Small-Cap ETF (MEXS)
- Global X Oil Equities ETF (XOIL)
- Global X Farming ETF (BARN)
- Global X Fishing Industry ETF (FISN)
- Global X Food ETF (EATX)
- Global X Waste Management ETF (WSTE)
The funds listed above will close to new investors and cease trading on the NYSE Arca at the end of the trading day on Feb. 16 and will liquidate on Feb. 27.
The Board of Trustees of Global X Funds unanimously determined that it was in the best interests of the Funds and their shareholders to liquidate the Funds.
From Feb.17 through Feb. 27, the funds will be in the process of closing down and liquidating their portfolios. During this time, the funds will not be pursuing their stated objectives and strategies and tracking their underlying indexes and their cash holdings will increase.
