Natixis Investment Managers (Natixis IM) announced today that it will liquidate and close the Natixis U.S. Equity Opportunities Exchange-Traded Fund (ETF) due to a lack of assets under management. The ETF will be delisted from the NYSE Arca on July 6, 2023, and all remaining shareholders will receive a cash redemption payment on July 13, 2023.
This decision comes after the ETF's assets under management fell below the minimum required to operate the fund. The fund had a net asset value of $3.3 million as of June 4, 2023. Natixis IM advised shareholders to sell their shares before the delisting date to avoid any potential tax implications.
The Natixis U.S. Equity Opportunities ETF was launched in 2017 and aimed to provide investors with exposure to U.S. small-cap and mid-cap stocks. The fund used a quantitative approach to select stocks based on factors such as earnings and price momentum.
This announcement follows other recent moves by Natixis IM to adjust its investment portfolio. On June 9, 2023, Natixis Investment Managers announced that it had cut its position in Hewlett Packard Enterprise (NYSE:HPE) by 55.4% during the first quarter of 2023. The firm also reduced its stake in Church & Dwight Co., Inc. (NYSE:CHD) by 62.1% in the fourth quarter of 2022.
According to Citywire Americas, Natixis IM has been active in the investment universe, with several notable moves in recent months. The firm has reduced its holdings in several companies, including McCormick & Company, Incorporated (NYSE:MKC) and Church & Dwight Co., Inc. (NYSE:CHD).
In addition to its investment activities, Natixis IM has also announced the US recipients of its Global Equal Opportunities Advancement Scholarship for 2023. The scholarship program supports the advancement of women and other underrepresented groups in the finance industry.
Meanwhile, a federal judge has approved the recommendation to certify a class in a proprietary fund suit. The suit alleges that Natixis IM and its affiliates breached their fiduciary duties by investing in proprietary funds with higher fees than comparable funds. The judge determined that even a "well-educated, diligent" plan participant would not have been able to uncover the alleged breaches.
In financial news, Natixis Investment Managers International has significantly reduced its stake in Church & Dwight Co., Inc. (NYSE:CHD). The firm's position in the company fell by 62.1% in the fourth quarter of 2022, according to recent reports.
Overall, Natixis IM continues to adjust its investment portfolio and make strategic moves in the investment universe. The firm's decision to liquidate the Natixis U.S. Equity Opportunities ETF reflects its commitment to managing assets efficiently and effectively.
