Scottrade to Close FocusShares ETFs
August 7th at 9:45am by John Spence
Scottrade subsidiary FocusShares will shutter its lineup of 15 exchange traded funds after they failed to attract significant assets.
The firm plans to liquidate the FocusShares family of ETFs — the last day of trading will be Aug. 17, according to a press release.
The ETFs had about $100 million in combined assets at the end of July. They were launched in March 2011 and track benchmarks designed by investment researcher Morningstar.
FocusShares cited current market conditions, the inability of the ETFs to attract significant market interest, future viability and growth prospects in its decision to close the funds.
The firm recently appointed a new chief executive. [FocusShares Taps New CEO]
FocusShares is liquidating these 15 ETFs:
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