Exchange-traded funds continue to launch at a breakneck pace, but many are quietly disappearing. Today marks the first ETF shutdown of 2012, as it is the last trading day for eight Global X
] ETFs, reports
Rowland of Seeking Alpha
expects the total number of ETF closures for 2012 to exceed the 38 closed last year.
As for the Global X liquidations, the eight liquidating ETFs are:
- Global X Farming (BARN);
- Global X Fishing Industry (FISN);
- Global X Food (EATX);
- Global X Mexico Small-Cap (MEXS);
- Global X Oil Equities (XOIL);
- Global X Russell Emerging Markets Growth (EMGX);
- Global X Russell Emerging Markets Value (EMVX); and
- Global X Waste Management (WSTE).
The ETFs' board of trustees of the firm decided to pull the plug thanks to the low level of assets the ETFs gathered.
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