Emerging Global Advisors announced it will shut down 12 EGShares ETFs that have failed to gain significant traction with investors.
“EGA provides investors with tools that address developing markets allocation needs,” said Robert Holderith, founder of EGA, in a statement. “As part of this ongoing commitment and our regular product line review, we identified an opportunity to streamline our existing offering. These changes are consistent with our dedication to delivering tools that fulfill unmet investor needs.”
The firm said the dozen ETFs that are closing represent 4% of its assets under management.
The funds’ last day of trading will be Oct. 4.
EGA said its EGShares ETFs have gathered more than $400 million of net assets this year.
This summer, the firm launched EGShares Emerging Markets Dividend Growth ETF (NYSEArca: EMDG) and EGShares EM Dividend High Income (NYSEArca: EMHD).
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