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iShares to merge US equity ETFs

by Robert St George on May 02, 2014 at 13:22

iShares to merge US equity ETFs

iShares is planning to consolidate its range of US equity exchange-traded funds (ETFs).

The firm is seeking investors’ permission to merge its iShares S&P 500 ETF with its iShares MSCI US Large Cap ETF.

‘Last year’s acquisition of Credit Suisse’s ETF business resulted in iShares acquiring a number of ETFs with identical or similar exposures to the existing range,’ explained a spokesperson for iShares.

‘The proposed mergers demonstrate the constant revision of our product set to ensure we offer the most relevant and cost effective funds to our investors.’

The resulting ETF will have assets under management of around £2.2 billion and a total expense ratio of 0.07%.

For more on ETFs, visit Citywire's CPD hub

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