ETF Watch: $500M Oil Fund To Close
Credit Suisse is closing one of its master limited partnership exchange-traded notes.
Credit Suisse plans to delist its second-largest ETN on or around Nov. 28. The Credit Suisse X-Links Cushing MLP Infrastructure ETN (MLPN) launched in April 2010 and has some $522 million in assets under management.
According to a press release, the firm intends to repurchase all the shares outstanding of MLPN after issuing an irrevocable call notice, with investors set to receive their cash payment on or around Dec. 2.
This is a record year for closures. Some 111 ETFs shut down in the first 10 months of the year alone, whereas the previous annual record was 102. Given that November and December usually see significant closure activity, there could be a lot more to come.
Contact Heather Bell at [email protected].
