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 are set for liquidation:
- 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, 2012 and will liquidate on Feb. 27, 2012.
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.
In other industry news, IndexIQ has closed three Asia-focused stock ETFs; The IQ Taiwan Small Cap ETF (TWON), IQ Hong Kong Small Cap ETF (HKK) and the IQ Japan Mid Cap ETF (RSUN) had their final trading day on Dec. 23, 2011.
