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Tuesday, September 04, 2012

Will Other ETF Shops Pull a Russell?

News summary by MFWire's editors

Now that Russell's [profile] shutting down its passive ETF business, the Financial Times wonders if other ETF shops will follow suit.

In an interview with the paper, Invest with an Edge founder Ron Rowland said:

"The Russell announcement could be a watershed. There are a number of small ETF sponsors whoa re taking losses on unpopular funds. If a big company like Russell with deep pockets has been forced to throw in the towel, those sponsors will have to ask how long they can cling on.”

Deborah Fuhr, ETFGI partner, told the FT: "“ETFs closures are a reflection of the trading and investment environment. We’re seeing financial firms reduce headcount and rationalise products. But if the market comes back, ETFs will come back even stronger and see even greater net inflows than they are already.” This year, 71 exchange-traded products have closed down in the US, 13 more than the closures in 2008. 

Edited by: HFD

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