WisdomTree announced Friday that it plans to close 10 ETFs. Nine are stock funds and at least eight are international funds.
The New York firm creates funds and indexes based entirely of dividend-paying stocks. It said the designated funds represent about 3% of its more than $6 billion in assets under management.
CEO Jonathan Steinberg said in a written statement said that it’s better for the firm to focus on areas of greater client interest and that closing these 10 ETFs will ”create capacity for future growth initiatives.” He added he expects there will be no more fund closings and that WisdomTree will launch new funds this year.
The last day of trading for these funds will be Wednesday, March 24, 2010. Shareholders who do not sell their shares by this date will have them automatically redeemed on March 29, the funds’ last day of operations.
The 10 closing funds:
WisdomTree International Technology Sector Fund (DBT)
WisdomTree International Financial Sector Fund (DRF)
WisdomTree International Health Care Sector Fund (DBR)
WisdomTree International Consumer Staples Sector Fund (DPN)
WisdomTree International Consumer Discretionary Sector (DPC)
WisdomTree International Industrial Sector Fund (DDI)
WisdomTree International Communications Sector Fund (DGG)
WisdomTree Europe Total Dividend Fund (DEB)
WisdomTree Earnings Top 100 Fund (EEZ)
WisdomTree U.S. Short Term Government Income Fund (USY)