A five-year-old ETF shop in New England is shuttering its four ETFs and transforming itself into an intellectual property shop focused on financial technology.
| Jack Fonss|
Accushares Investment Management
Chief Executive Officer and Co-Founder
Stamford, Connecticut-based AccuShares Investment Management revealed
plans to liquidate its ETFs on September 8. And, per an AccuShares statement posted by ETF Daily News
, the company "is becoming AccuShares IPP, a financial technology firm ... focused on fund innovation and the next generation of exchange traded funds."
also highlighted AccuShares' plans to shut down its ETFs.
AccuShares was launched in 2011 and is led by CEO and co-founder Jack Fonss
, an alumnus of UBS, Deutsche Bank, Credit Suisse, Morgan Stanley, and McKinsey.
The four ETFs that will shut down are: the AccuShares Spot CBOE Vix Up ETF
(VXUP) and the AccuShares Spot CBOE VIX Down ETF
(VXDN), both of which launched in 2015; and the AccuShares S&P GSCI Crude Oil Excess Return Down ETF
(OILD) and the AccuShares S&P GSCI Crude Oil Excess Return Up ETF
, both of which launched
earlier this summer.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now