Lyxor closes USD share class for six ETFs

Jun 21st, 2017 | By | Category: ETF and Index News

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Lyxor has opted to close the US dollar share class on six of its European-listed ETFs. After the action, the C-EUR share class will continue to trade, having absorbed remaining assets within the C-USD share class.

Lyxor merges share classes of 6 ETFs

The share class merger will primarily affect USD-denominated shares on London Stock Exchange and SIX Swiss Exchange.

The ETFs affected are the:
Lyxor MSCI EM Latin America UCITS ETF (Euronext: LTM),
Lyxor Commodities Thomson Reuters/CoreCommodity CRB EX-Energy TR UCITS ETF (Euronext: CRN),
Lyxor Commodities Thomson Reuters/CoreCommodity CRB TR UCITS ETF (Euronext: CRB),
Lyxor MSCI Taiwan UCITS ETF (Euronext: TWN),
Lyxor Brazil (IBOVESPA) UCITS ETF (Euronext: RIO),
Lyxor Russia (Dow Jones Russia GDR) UCITS ETF (Euronext: RUS).

As part of the process, the USD listings for all of the ETFs on Six Swiss Exchange will be changed to euro-denominated listings, and the USD listings on London Stock Exchange for all of the above ETFs except the Lyxor Russia (Dow Jones Russia GDR) UCITS ETF will also be changed to euro-denominated listings.

The merger will happen after market close on 22 June 2017 for all the ETFs except the Lyxor MSCI EM Latin America UCITS ETF, which merged its share classes after the market closed on 19 June 2017.

The ETFs will continue to trade as before on Deutsche Boerse, Euronext and Borsa Italiana. Investors still wishing to purchase shares in US dollars may still do so on the Singapore Stock Exchange for all of the above ETFs except the Lyxor Brazil (IBOVESPA) UCITS ETF.

Lyxor believes that combining the share classes will enhance secondary market liquidity across European listing venues for holders of both previous share denominations. It has advised investors they need take no action and if they do not wish to participate in the merger they should sell their USD shares on the secondary market.

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