Russell Investments is planning to close its family of 25 passively managed ETFs. The firm will continue to operate the Russell Equity ETF, which is an actively managed, asset allocated portfolio.
"While the innovation behind Russell's next-generation ETF products received substantial interest in general, the market for them is still in its early days," according to a press release. "Given challenging equity market conditions since the launch of these products, Russell determined that proposing the liquidation of the passively-managed ETFs at this time is in the best interests of the ETFs and their shareholders."
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