New York Life Investments has announced plans to liquidate three ETFs as part of its regular product line-up review. The affected funds are:
- NYLI 500 International ETF (IQIN)
- NYLI CBRE NextGen Real Estate ETF (ROOF)
- NYLI Engender Equality ETF (EQUL)
These funds will cease trading and stop accepting creation or redemption orders after market close on November 20, 2024. Shareholders can expect to receive liquidation proceeds on or about November 27, 2024. This move is part of the company's ongoing efforts to optimize its product offerings.
New York Life Investments has expanded its Dual Impact family of thematic investment strategies by launching three new ETFs: IQ Engender Equality ETF (EQUL), IQ Cleaner Transport ETF (CLNR), and IQ Clean Oceans ETF (OCEN). Each fund is aligned with nonprofit initiatives, with New York Life committing to contribute 10% of each fund's management fee to these organizations. These ETFs aim to provide investors with exposure to companies committed to gender equality, environmentally efficient transportation, and ocean conservation, respectively.