Oct. 1, 2001 — Barclays Global Investors is liquidating three exchange-traded funds because they have failed to attract interest from investors.
The company said the iShares DJ US Chem Index Tr (IYD), iShares DJ US Internet Index Tr (IYV) and the iShares S&P/TSE 60 Index Tr (IKC) will be liquidated starting Dec. 6.
The funds have total assets of $28.7 million, Barclays Global said Monday. In announcing the closings, the company said investors have been seeking “broader exposure in the markets represented by other funds.”
“As the iShares product line expanded and some market segments, such as the Internet industry, have changed, the three funds to be closed weren’t providing enough exposure to be useful to investors,” Lee Kranefuss, chief executive officer of Barclays Global’s individual investor business, said in a statement.
Exchange-traded funds are similar to index-based mutual funds, but they trade on stock exchanges where they can be bought and sold like individual stocks.