BlackRock to Shut 16 ETFs Focused on Smart Beta, Multifactor
- Funds to close Aug. 15 have a total of $91 million in assets
- Decision comes even as BlackRock focuses more on factors
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BlackRock Inc. will shutter 16 exchange-traded funds in smart-beta and multifactor strategies a few months after introducing a lineup of artificial intelligence-driven products.
The last day of trading for the funds will be Aug. 15, the company said in a statement Friday. The funds held about $91 million in assets at the end of May, according to the company.