Lyxor International asset management has confirmed the decision to delist five ETFs from Italy's stock exchange Borsa Italiana.
Lyxor International asset management has confirmed the decision to delist five ETFs from Italy’s stock exchange Borsa Italiana.
The ETFs will be delisted on September 4, and the unitary value will be priced on the day.
They are: Lyxor ETF wise quantitative strategy, Lyxor ETF Stoxx Europe 600 Automobiles and Parts Daily Short, Lyxor ETF Stoxx Europe 600 Banks Daily Short, Lyxor ETF Stoxx Europe 600 Basic Resources Daily Short and Lyxor ETF Stoxx Europe 600 Oil and Gas Daily Short.
In a statement, Lyxor said that some of the five ETFs will also be delisted from NYSE Euronext Paris, Deutsche Boerse, NYSE Euronext Brussels and Six Swiss Exchange.
The decision has been taken for commercial reasons, in order to rationalise Lyxor’s product offering, following low market interest for the five funds.
“Our strategy of growth on the Italian market has not been affected by the decision. We are committed to launch new products and since the beginning of the year we have listed 17 new ETFs on Borsa Italiana,” Lyxor said.