Neuberger Berman to close ETF that failed to shine since conversion

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Financial Times 11h ago

Neuberger Berman to close ETF that failed to shine since conversion - Financial Times

Quick Summary:

The ETF’s proceeds would be distributed to shareholders on January 16, the filing indicated.“The small size of this fund makes it challenging to efficiently pursue its investment strategy.

Even with a well-established mutual fund track record, I think the one-year marker for a vehicle is a threshold that, if [the firm is unhappy], shutting it is always part of the equation,” Curtin said.

The ETF’s closure was not likely to indicate additional issues with Neuberger’s ETFs, Morningstar analyst Max Curtin said.“I don’t think it’s a real sign of anything.