iShares Will Close 18 ETFs
August 18th at 8:00am by Tom Lydon
BlackRock’s (NYSEArca: BLK) iShares unit, the world’s largest issuer of exchange traded funds, will close 18 of its ETFs, including 10 target date ETFs.
The closures are “based on ongoing product reviews and client feedback and limited investor interest in the funds,” according to a statement issued by iShares.
Earlier this year, iShares shuttered 10 of its ex-U.S. sector ETFs due to limited investor interest in those products. [iShares to Close 10 ex-U.S. ETFs]
With the announcement from iShares, PIMCO’s disclosure that it will close four ETFs (the firm will also add three new funds) and last week’s news that ALPS is closing four ETFs, the year-to-date total for ETF closures is now 45. Seventy U.S.-listed exchange traded products were closed last year. [ALPS Will Close Four ETFs]
The iShares target date ETFs to be closed have $310 million in combined assets under management, but none have north of $100 million on an individual basis, reports Investment News.
The other iShares ETFs to be closed are as follows: The iShares MSCI Far East Financials ETF (NasdaqGM: FEFN), iShares MSCI Emerging Markets Financials ETF (NasdaqGM: EMFN), iShares MSCI Emerging Markets Materials ETF (NasdaqGM: EMMT), iShares Retail Real Estate Capped ETF (NYSEArca: RTL), iShares Industrial/Office Real Estate Capped ETF (NYSEArca: FNIO), iShares NYSE 100 ETF (NYSEArca: NY), iShares NYSE Composite ETF (NYSEArca: NYC) and the iShares Global Nuclear Energy ETF (NasdaqGM: NUCL).
After the close of business on October 14, 2014, the funds will no longer accept creation orders. Trading in the funds will be halted prior to market open on October 15, 2014, according to iShares.
Full List of iShares Closures
List Courtesy: BlackRock
ETF Trends editorial team contributed to this post.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.