More closures in the ETF industry: Earlier this month, PowerShares shuttered plans for six ETFs in registration, and now XShares is axing 15 of its HealthShares offerings. (The firm is leaving four open, and says it's redesigning the closing funds.) XShares told the Wall Street Journal that the ETFs didn't "resonate" with investors, and that it plans to roll out new HealthShares—including an Asian Health ETF—in the coming months.
The highly specialized funds on the chopping block include HealthShares Metabolic-Endocrine Disorders, HealthShares Orthopedic Repair, and HealthShares Dermatology & Wound Care.
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