Guggenheim to Shutter China Yuan Bond ETF

Benzinga

Guggenheim Investments, the eighth-largest U.S. ETF issuer, announce it will close the Guggenheim Yuan Bond ETF (NYSE:RMB), an ETF that represents just .01 percent of the firm's more than $14 billion in ETF assets under management.

The last day of trading for the Guggenheim Yuan Bond ETF will be Friday June 14, 2013, Guggenheim said in a statement. RMB will suspend its regular May monthly dividend distribution in anticipation of its liquidating distribution on or about June 21, 2013. The Fund believes that suspending its May distribution will allow the Fund to minimize its expenses in the period leading up to its liquidation, which should maximize the amount available to be distributed to shareholders in the liquidating distribution, according to the statement.

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RMB, comprised of yuan-denominated bonds, currently has $2.6 million in assets, according to Guggenheim data. Earlier this year, New York-based Guggenheim closed nine ETFs.

Guggenheim has four other China ETFs with a combined $390 in assets including the Guggenheim China Small-Cap ETF (NYSE:HAO), the Guggenheim China Real Estate (NYSE:TAO), the Guggenheim China All-Cap (NYSE:YAO) and the Guggenheim China Technology ETF (NYSE:CQQQ).

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