FaithShares To Close Doors On Four ETFs
Monday, 06 June 2011 04:48

Heading in to 2011, many had predicted that a wave of closures would sweep over the ETF industry, the result of overly ambitious growth in recent years and the introduction of increasingly targeted exchange-traded products.

Through the first five months of the year, however, only a leveraged Barclays ETN, BXDD, shut its doors–and that shuttering was the result of an automatic redemption related to a certain minimum price threshold, as opposed to a discretionary closing. The ETF industry has expanded at a breakneck pace in 2011, with more than 80 new ETPs making their debut. And though the industry remains top-heavy–more than 550 ETFs have less than $50 million in AUM–few have pulled the plug. But now the next round of ETF casualties are upon us; FaithShares will be adding four ETFs to the list of the deceased in the coming weeks, as the Oklahoma-based issuer closes all but one [...]

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