Daily ETF Watch: Columbia Closes 3 Funds
Columbia Management is getting ready to shutter three of its five ETFs in January.
The funds closing down comprise the firm’s entire lineup of U.S. large-cap equity strategies, which together have combined assets of about $28 million.
They are:
- Columbia Large Cap Growth (RPX | D-84), the firm’s largest ETF, with $14 million in assets
- Columbia Select Large Cap Growth (RWG | D-50), with $7 million in assets
- Columbia Select Large Cap Value (GVT | D-80), with $6.4 million in assets
The three actively managed funds first came to market in 2009 under Grail Advisors, but were later acquired by Columbia—along with two U.S. bond funds—in 2011. Since that deal, the funds have failed to gather much traction.
The three funds will stop trading on Jan. 28. Columbia will continue to offer its two active U.S. bond strategies, the Columbia Core Bond (GMTB | B-71) and the Columbia Intermediate Municipal Bond (GMMB | D-46).
The firm also has a vast lineup of ETFs sitting in registration.
Contact Cinthia Murphy at [email protected].
