The ETFs are also closingjust weeks after reaching their three-year anniversary, (Photo:Shutterstock)
(Bloomberg) –Legg Mason Inc., the Baltimore-based investmentmanagement 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 areview of its product lineup “to ensure it is relevant to investordemand,” the company said in a statement. Together the funds manage$28 million, just 3 percent of assets in Legg Mason's 12 ETFs, anda fraction of the firm's $727 billion.
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