Tabula Investment Management is closing its high yield Paris-Aligned bond ETF after reviewing the “financial viability” of the fund.
Launched in 2022, the $7m Tabula EUR HY Bond Paris-Aligned Climate UCITS ETF (THEP) will cease trading on Deutsche Borse, Borsa Italiana and BX Swiss on 12 November.
In a shareholder notice, the asset manager said: “The directors, in consultation with Tabula Investment Management have reviewed the ICAV’s subfund range and due to the financial viability of the fund have resolved to close the fund in the best interests of shareholders.”
It comes as Tabula halved the fee of THEP in January this year.
THEP tracks the iBoxx MSCI ESG EUR High Yield Paris-Aligned Capped index which offers exposure EUR denominated HY corporate bonds, with a focus on both climate and broader ESG.
To align with EU Paris-aligned benchmark criteria, it targets 50% lower GHG emissions than the Euro high yield market and reduces GHG emissions by 7% per year.
It marks the first ETF closure after Tabula Investment Management was acquired by US giant Janus Henderson in May this year.
Following its European entry, Janus debuted its first active ETF in Europe - the Janus Henderson Tabula Japan High Conviction Equity UCITS ETF (JCPN) - a high-conviction strategy of companies set to benefit from structural themes and trends in the region.
Elsewhere, Tabula launched its first non-fixed income ETF, a gold exchange-traded commodity (ETC) that adheres to certain responsibility standards.
