Earlier this month, when Russell Investments
that it would conduct a "strategic review" of its ETF line, there was some speculation
that fund execs would decide to shut them down. Not quite: Russell will close all its ETFs but one, according to a press release
And Index Universe has more details
on the announcement. Launched in the spring of 2011, Russell's ETF line never attracted enough assets to be viable.
Russell is shutting down all 25 of its passively managed funds, with a combined a total of over $310 million. The one ETF that will remain in operation is the Russell Equity ETF
, with $4.2 million in AUM.
The passively managed funds will be closed to new investors on October 9, delisted on October 16, and liquidated on October 24.
Stay ahead of the news ... Sign up for our email alerts now