Guggenheim to Shutter 8 Exchange-Traded Products in March (EWAC, OTR, OTP)

Closures are a fact of life in the ETF business and while plenty of attention has been given the torrid pace of new product introductions in 2012, there are some ETF closures coming. Guggenheim Investments, which says it's the eighth largest U.S. ETP provider with more than $11 billion in exchange-traded assets, will shutter eight funds in March. The Guggenheim funds slated for closure are the CurrencyShares Russian Ruble Trust FXRU, the CurrencyShares Mexican Peso Trust FXM, the Guggenheim EW Euro-Pacific LDRs ETF EEN, the Guggenheim International Small Cap LDRs ETF XGC, the Guggenheim Ocean Tomo Growth Index Fund OTR, the Guggenheim Ocean Tomo Patent ETF OTP, the Guggenheim Sector Rotation ETF XRO and the Rydex MSCI All Country World Equal Weight ETF EWAC. “Guggenheim Investments remains committed to the U.S. ETP business,” said William Belden, head of product development, in a statement. The last day of trading for the shares of the CurrencyShares Russian Ruble Trust and the CurrencyShares Mexican Peso Trust will be March 23. The other six funds will also cease trading after March 23. Guggenheim sponsors ETFs under the Guggenheim, Rydex and CurrencyShares brands. Some of the firm's more popular ETFs include the Guggenheim Solar ETF TAN and the Rydex S&P 500 Equal Weight ETF RSP.