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WisdomTree to close ten ETFs


WisdomTree, an exchange-traded funds sponsor and index developer, plans to close ten of its ETFs.

The designated funds represent approximately three per cent of WisdomTree’s ETF assets.

“We proposed the closure of ten ETFs in order to create capacity for future growth initiatives, and because we believe it is in the best interest of our customers and shareholders to dedicate our resources to areas of greater client interest,” says WisdomTree chief executive Jonathan Steinberg. “We have no plans to make any further closures and are fully committed to maintaining and developing an innovative product line, including the introduction of new funds in the coming months.”

The ten closing funds are: WisdomTree International Technology Sector Fund; WisdomTree International Financial Sector Fund; WisdomTree International Health Care Sector Fund; WisdomTree International Consumer Staples Sector Fund; WisdomTree International Consumer Discretionary Sector Fund; WisdomTree International Industrial Sector Fund; WisdomTree International Communications Sector Fund; WisdomTree Europe Total Dividend Fund; WisdomTree Earnings Top 100 Fund; and WisdomTree US Short Term Government Income Fund.

The board of directors of the WisdomTree Trust approved the closures on 28 January 2010. The final day of trading on the NYSE Arca will be 24 March 2010. Shareholders who do not sell their fund shares by this date will have their shares automatically redeemed on 29 March 2010, the funds’ last day of operations.

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