The designated funds represent approximately 3% of WisdomTree’s ETF assets. WisdomTree CEO Jonathan Steinberg said in an announcement that the ETFs are being closed “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.”
According to the announcement, the Board of Directors of the WisdomTree Trust approved the closures on January 28, 2010, and the final day of trading on the NYSE Arca will be Wednesday, March 24, 2010. Shareholders who do not sell their fund shares by this date will have their shares automatically redeemed on March 29, 2010, the funds’ last day of operations.
The 10 closing funds are:
- International Technology Sector Fund – DBT;
- International Financial Sector Fund – DRF;
- International Health Care Sector Fund – DBR;
- International Consumer Staples Sector Fund – DPN;
- International Consumer Discretionary Sector Fund – DPC;
- International Industrial Sector Fund – DDI;
- International Communications Sector Fund – DGG;
- Europe Total Dividend Fund – DEB; and
- Earnings Top 100 Fund – EEZ.
More information, including an Investor FAQ document, is located at www.wisdomtree.com.