IndexIQ to Close Emerging Markets Mid Cap ETF

IndexIQ, the New York-based ETF issuer known for its suite of hedge fund replication and commodities products, announced that it will close the IndexIQ Emerging Markets Mid Cap ETF EMER. The final trading day for the IndexIQ Emerging Markets Mid Cap ETF will be December 18, 2012. Assuming no other ETF closures take place between now and then, the total number of exchange-traded products closures this year will be a record at 100. IndexIQ said EMER represents just 0.5 percent of its total ETF assets under management. Investors that do not sell their EMER stakes on or before December 18 will have their investments liquidated on December 28, according to a statement issued by the firm. Earlier this year, IndexIQ closed the IndexIQ Small-Cap ETF. The firm also closed three ETFs in late 2011. With the loss of EMER, IndexIQ will have 11 ETFs on the market. For more on ETFs, click here.