BlackRock is set to close an emerging market debt (EMD) ETF and an Italian equity ETF as the firm continues to optimise its product range.
In a shareholder notice, BlackRock said the iShares J.P. Morgan € EM Bond UCITS ETF (EB3M) and the iShares FTSE Italia Mid-Small Cap UCITS ETF (IPIR) will both close on or around 21 August.
A spokesperson from BlackRock said: “Decisions about our product line-up are based on multiple considerations, including their fit within investment portfolios, product demand, investor feedback and other considerations.
“Fund closures are a part of the natural cycle of industry innovation and ensure the efficiency of our product platform as well as the broader listing ecosystem.”
Physically replicated, EB3M tracks the J.P. Morgan Euro EMBI Global Diversified index with a total expense ratio (TER) of 0.35%, while IPIR tracks the FTSE Italia Mid-Small Cap PIR index with a TER of 0.33%.
EB3M launched in 2021 and currently houses €26m assets under management (AUM) while IPIR launched in 2017 and has gathered €30m AUM since its inception.
The most-recently reported ETF closures from BlackRock came in 2021 when the firm shut five ETFs after they failed to gather assets.
Elsewhere, Circa5000 is set to exit the European market just a year after launching a suite of five thematic ETFs.
