An active exchange traded fund managed by HS Dent Investment Management is merging into another fund after the ETF failed to attract significant assets.
DENT had less than $10 million in assets and was launched in 2009. Its portfolio management team will resign, according to a press release.
HS Dent was founded by Harry Dent, the demographic expert and book author best known for his bearish forecasts. Dent is known in some circles as “The Sage of Doom and Gloom.” [Harry Dent ETF]
DENT was down 15.7% for the year ended May 21, according to Morningstar.