HANetf calls time on frontier markets e-commerce ETF due to low AUM

investmentweek.co.uk:

According to data from HANetf, the fund has just over $1.5m in AUM, and the board said at the current level, it is 'impracticable and inadvisable for the fund to continue to operate'.

The company's board decided to close the FMQQ Next Frontier Internet & Ecommerce ESG-S UCITS ETF from 13 November 2023, due to low levels of assets under management.

According to data from HANetf, the fund has just over $1.5m in AUM, and the board said, at the current level, it is «impracticable and inadvisable for the fund to continue to operate».

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The ETF will be de-listed from all the stock exchanges it traded on, with trading ceasing from the close of business on 30 October 2023.

Investors will be able to submit requests for subscription and/or redemption of shares in the fund in the primary market until 6 November 2023.

Any net cash proceeds from the realisation of the assets in the fund will be paid to the remaining shareholders «as soon as possible after the termination date», HANetf said, or by 27 November 2023 at the latest.

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