PowerShares To Close 4 Funds
Three of the four are currency-hedged products.
Invesco PowerShares has announced that four of its ETFs will close on Dec. 22. All of the funds in question are at least three years old and have between $1 million and $6 million in assets under management.
The list includes the following:
- PowerShares Contrarian Opportunities Portfolio (CNTR)
- PowerShares Developed EuroPacific Currency Hedged Low Volatility Portfolio (FXEP)
- PowerShares Europe Currency Hedged Low Volatility Portfolio (FXEU)
- PowerShares Japan Currency Hedged Low Volatility Portfolio (FXJP)
These are the first PowerShares ETFs scheduled to close in 2017. The issuer also closed four funds last year.
It’s not surprising that three of the funds are currency-hedged products, which have fallen out of the spotlight and out of favor with investors. Currently, there are 84 listed currency-hedged products trading on U.S. exchanges, with only nine that have assets above $1 billion and 43 with assets of less than $10 million.
There are 124 fund closures set to occur by the end of the year.
Contact Heather Bell at [email protected]
