DWS has closed a Bangladesh ETF as a result of its net asset value falling below minimum requirements and suffering “persistently” low levels of demand, ETF Stream can reveal.

The Xtrackers MSCI Bangladesh Swap UCITS ETF (XBAN) was delisted from the London Stock Exchange, Singapore Exchange and Xetra on 10 March.

The termination date of XBAN was postponed from 26 February to 10 March to ensure its orderly liquidation.

XBAN had gathered less than $7m assets under management since launch in November 2012.

At February’s end, the MSCI Bangladesh IMI index had a one-year performance of -22.3%.

DWS’s ETF business breaks through €100bn AUM barrier

In a note to its shareholders, DWS said that the termination of ETFs that have demonstrated low levels of demand “is an ordinary part of the business”.

DWS has closed numerous ETFs over the last year as a result low levels of demand including 12 products in November.