Global X, the ETF issuer known for its lineup of unique international, income and commodities-related funds, plans to close seven of its ETFs, including two high-flying Brazil products.
Among the funds being closed by Global X are the Global X Brazil Mid Cap ETF (NYSEARCA: BRAZ) an the Global X Brazil Consumer ETF (NYSEARCA: BRAQ), which are up 31% and 48%, respectively, year-to-date.
The issuer is also closing another Latin American fund, the Global X FTSE Andean 40 ETF (NYSEARCA: AND). Combined, those three ETFs have about $19 million in assets under management.
Global X also plans to close two of its guru funds, the Global X Guru Activist Index ETF (NASDAQ: ACTX) and the Global X Guru International Index ETF (NYSEARCA: GURI). Combined, those ETFs have just over $3 million in assets.
Combined, the aforementioned ETFs represent less than 1% of Global X’s ETF assets under management.
“Shareholders may sell their holdings in the Funds prior to the end of the trading day on Friday, October 6, 2017 and customary brokerage charges may apply to these transactions. The Funds will cease trading at the close of regular trading on Friday, October 6, 2017. Effective immediately, the Fund no longer will accept creation orders. Each Fund will liquidate on or around Friday, October 13, 2017,” according to a statement issued by New York-based Global X.
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