The ETFs are also closing just weeks after reaching their three-year anniversary, (Photo: Shutterstock)
(Bloomberg) –Legg Mason Inc., the Baltimore-based investment management company, plans to close a quarter of its ETFs next month.
The firm is shutting three funds that focus on the U.S., emerging markets and developed markets outside the U.S. following a review of its product lineup “to ensure it is relevant to investor demand,” the company said in a statement. Together the funds manage $28 million, just 3 percent of assets in Legg Mason's 12 ETFs, and a fraction of the firm's $727 billion.
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