The folks at a Western Connecticut fund firm and a multinational bank's asset manager are preparing to shutter a $6-million-AUM, 15-month-old index fund.

Last Friday (April 4), the teams at Neos Investment Management LLC [profile] and KB Asset Management revealed that the board of trustees of the Neos ETF Trust has decided to shut down the Mast Global Battery Recycling & Production ETF (EV on the NYSE Arca, Inc.). Westport, Connecticut-based Neos serves as EV's investment advisor, while Seoul-based KB Asset Management (a subsidiary of KB Financial Group) is EV's sponsor.

Trading and creation orders for EV are scheduled to cease on April 17. The liquidation is set for April 25.

EV's inception date was December 21, 2023. The non-diversified, passively managed fund came with an expense ratio of 65 basis points.

The liquidating ETF is designed to track the Indxx Global Battery Recycling & Production Index, from index provider Indxx, LLC. EV's PM team includes Troy Cates and Garrett Paolella, co-founders and managing partners at Neos.

EV's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Thompson Hine LLP as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as transfer agent; and U.S. Bank, N.A. as custodian. 

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