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Friday, January 29, 2010

WisdomTree Plans to Shutter 10 ETFs

Reported by Daniel Tovrov

WisdomTree Trust's board of directors voted to close ten ETFs Thursday. The funds headed for liquidation account for 3 percent of WisdomTree's $6 billion in AUM. The shuttering will leave Wisdom Tree's fund roster 42 ETFs deep.

The 10 closing ETFs include:
  • WisdomTree International Technology Sector Fund
  • WisdomTree International Financial Sector Fund
  • WisdomTree International Health Care Sector Fund
  • WisdomTree International Consumer Staples Sector Fund
  • WisdomTree International Consumer Discretionary Sector Fund
  • WisdomTree International Industrial Sector Fund
  • WisdomTree International Communications Sector Fund
  • WisdomTree Europe Total Dividend Fund
  • WisdomTree Earnings Top 100 Fund
  • WisdomTree U.S. Short Term Government Income Fund

  • March 24 will be the last day of trading, according to the SEC filing. The next day the funds will close to all new investors and begin liquidating portfolio assets to increase cash holdings.

    WisdomTree is closing the funds to free up capacity for its growth initiative, spokesperson Stuart Bell told The MFWire. The company has no plans to make further closures.

    Earlier this month, WisdomTree launched its newest ETF, the WisdomTree International Hedged Equity Fund. The company is also going to be adding its currency hedging feature to the WisdomTree Japan Total Dividend Fund on April 1, noted Bell.  

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