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IndexIQ to close South Korea Small Cap ETF

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IndexIQ, a developer of index-based alternative investment solutions, plans to close the IQ South Korea Small Cap ETF.

Assets in the fund represent only approximately one per cent of IndexIQ’s ETF assets.

The board of trustees of the IndexIQ ETF Trust approved the closures on 3 July 2012. The final day of trading on the NYSE Arca will be 17 August 2012. Shareholders who do not sell their fund shares by this date will have their shares automatically redeemed on 22 August 2012, the fund’s last day of operations.

Fund shareholders holding shares in the fund as of the liquidation date of 22 August 2012 will receive a cash distribution equal to the net asset value of their shares as of that date, inclusive of remaining income and capital gains. Shareholders remaining on 22 August 2012 will not incur transaction fees in connection with the liquidation of their shares. Other costs of closing the funds will be borne by the IndexIQ Advisors.

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