QuantShares Says ‘NOMO’ to Three ETFs

QuantShares is in the process of shelving a trio of exchange-traded funds.

According to a Securities and Exchange Commission filing, the firm is liquidating the QuantShares U.S. Market Neutral High Beta Fund, QuantShares U.S. Market Neutral Anti-Momentum Fund, and QuantShares U.S. Market Neutral Quality Fund. The last day of trading of the funds will be November 2.

Also, the firm is waiving fees and/or reimburse expenses of the remaining QuantShares U.S. Market Neutral Momentum Fund, QuantShares U.S. Market Neutral Value Fund and QuantShares U.S. Market Neutral Size Fund “to prevent their fees and expenses from exceeding 0.99% of average daily net assets,” according to the filing.

According to Chuck Martin, chief investment officer, the firm decided to liquidate the three funds based on limited demand in the retail marketplace, offering that they were better suited for institutional investors. However, he said the firm recently filed with the SEC to launch absolute return and long-only products.

“We’re looking to continue to concentrate on alternative beta strategies,” said Martin.