Ten struggling exchange-traded funds that have attracted less than $18 million, or 3% of WisdomTree’s $6 billion in assets under management, will be shut down on March 24.
Nine of the funds concentrate on equity sectors, and the 10th, on short-term government bonds.
“We propose the closure of 10 ETFs in order to create capacity for future growth initiatives, and because we believe it is in the best interest of our customers and shareholders to dedicate our resources to areas of greater client interest,” said Jonathan Steinberg, chief executive officer of WisdomTree. “We have no plans to make any further closures and are fully committed to maintaining and developing an innovative product line, including the introduction of new funds in the coming months.”
The WisdomTree funds set for liquidation are: International Technology Sector, International Financial Sector, International Health Care Sector, International Consumer Staples, International Consumer Discretionary, International Industrial Sector, International Communications Sector, Europe Total Dividend, Earnings Top 100 and U.S. Short Term Government Income.