Global X, the exchange traded funds issuer known for its unique lineup of income-generating and international funds, will close its China bond fund, the Global X GF China Bond ETF (NYSEArca: CHNB).
The Global X GF China Bond ETF tracks the S&P China Composite Select Bond Index, which is designed to offer exposure to “Chinese sovereign bonds, agency bonds and bonds issued by Central State-Owned Enterprises (CSOEs) denominated in Chinese yuan,” according to S&P Dow Jones Indices.
CHNB’s underlying index only includes bonds with maturities of at least one year but no more than seven years. Included securities must be fixed rate non-zero coupon bonds, according to S&P Dow Jones Indices.
[related_stories]The ETF debuted in late 2014.
“Shareholders may sell their holdings in the fund prior to the end of the trading day on Monday, April 18, 2016 and customary brokerage charges may apply to these transactions. The Fund will cease trading at the end of the trading day on Monday, April 18, 2016. Effective immediately, the Fund no longer will accept creation orders. The Fund will liquidate on or around Monday, May 2, 2016,” according to a statement issued by Global X.