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Tuesday, August 07, 2012|
FocusShares Liquidates Its ETF Line
Today, FocusShares [profile] filed with the SEC to liquidate all fifteen of its ETFs.
As of August 6, 2012, the funds have a combined AUM of $102.52 million, according to data available on Morningstar. August 17 will be the last day of trading for the ETFs, and they will be liquidated on August 30.
A FocusShares spokesman told MFWire that the board decided that it was in the best interests of the firm's shareholders to close its ETF line. The company also issued a press release on the closing.
FocusShares relaunched its ETF line in late 2010, several months after the company was bought by Scottrade. Scottrade is identifying alternatives.
Last week, MFWire reported that FocusShares appointed Scott Golde its new president and CEO, but the FocusShares spokesman told MFWire that Golde was not involved in the decision to liquidate the ETF family.
Printed from: MFWire.com/story.asp?s=40862
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