Carbon Allowances ETF Throws In The Towel

Michael Johnston — Wed, 29 Jul 2009 06:00:50 +0000

XShares has announced that it will liquidate its AirShares EU Carbon Allowances Fund (ASO) effective to July 31, 2009, and subsequently dissolve the fund. XShares cited the fund’s small size, inability to attract significant market interest since its inception, and the prospects for growth in the fund’s assets in the foreseeable future in its decision to shutter the fund. ASO, which was launched in December 2008, is a commodity pool that seeks to provide investors with results corresponding to the performance of a basket of futures contracts for European Union Allowances (EUAs). An EUA is an entitlement to emit one metric tonne of carbon dioxide under the EU Greenhouse Gas Emissions Trading Scheme, a cap-and-trade program that provides incentives for countries that signed the Kyoto Protocol to reduce carbon emissions. Cap-and-trade programs have been in the news in the U.S. lately, as the Obama administration has been pushing for the [...]

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Carbon Allowances ETF Throws In The Towel

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