Bringing you live news and features since 2006 

Deutsche X-trackers to close target-date ETFs

RELATED TOPICS​

Deutsche Asset & Wealth Management (Deutsche AWM) US ETF platform, Deutsche X-trackerr, is to close and liquidate the following five target-date exchange traded funds (ETFs), representing less than 1 per cent of the platform’s assets.

The funds to be closed are: 

• Deutsche X-trackers In-Target Date ETF (TDX)
• Deutsche X-trackers 2010 Target Date ETF (TDD)
• Deutsche X-trackers 2020 Target Date ETF (TDH)
• Deutsche X-trackers 2030 Target Date ETF (TDN)
• Deutsche X-trackers 2040 Target Date ETF (TDV)

Commencing on Friday, 15 May, 2015, the ETFs will no longer be accepting creation orders and the final day of trading on the NYSE Arca exchange will be Monday, 18 May, 2015. The ETFs will be accepting redemption requests until 18 May, 2015. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about Wednesday, 27 May , 2015.

When each ETF commences liquidation of its portfolio securities, each ETF may hold cash and securities that may not be consistent with the ETF’s investment objective and strategy. During this period, each ETF is likely to incur higher tracking error than is typical for the ETF.

Shareholders may sell their holdings of a ETF on the NYSE until the market close on 18 May, 2015, and may incur typical transaction fees from their broker-dealer. At the time the liquidation of the ETFs is complete, shares of the ETFs will be individually redeemed. For investors that still hold shares as of May 19, 2015, each ETF will automatically redeem its shares for cash at the ETF’s current net asset value as of close of business. Shareholders generally will recognise a capital gain or loss on the redemptions. The ETFs may or may not, depending upon each ETFs circumstances, pay one or more dividends or other distributions prior to or along with the redemption payments.

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by