Ziegler Capital Management
is getting out of ETFs. A spokeswoman for the Chicago-based asset manager confirmed that Ziegler is leaving the business for good.
Ziegler revealed that its NYSE Arca Tech 100 ETF
(its only ETF offering) will stop trading on December 15 and distribute its remaining assets (currently $3.6 million) to shareholders on the 26th. Ziegler first launched the fund a year and a half ago (see MFWire
, March 26, 2007).
"While we no longer sponsor an ETF, we remain committed to our core asset management business," stated Ziegler president Elizabeth A. Watkins
Ziegler manages $3.1 billion in assets, including $700 million in its North Track Funds
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