Portfolio - ETFs

Global X Scraps Aluminum, Auto ETFs

by: Hung Tran

Tuesday, September 25, 2012

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Global X Funds, the New York-based provider of exchange-traded funds is liquidating four funds next month.

The funds to be shelved include: Global X Aluminum ETF (NYSE: ALUM); Global X Auto ETF (NYSE: VROM); Global X NASDAQ 500 ETF (NASDAQ: QQQV) and Global X NASDAQ 400 Mid Cap ETF (NASDAQ: QQQM).

According to the firm, the Funds combined represent less than 1% of the assets of the Global X Funds. The fir currently counts some $1.45 billion in managed assets.

The funds will cease trading at the end of the trading day on October 18 and will liquidate on October 26. CEO Bruno del Ama was not immediately available to comment on the liquidations.