Lyxor to delist MSCI India UCITS ETF

It will be merged with a sub-fund of a SICAV investment firm in France.

Lyxor International Asset Management will delist its Lyxor MSCI India UCITS ETF, a common investment fund, on 2 May, and merge it with the MUF ETF, a sub-fund of a SICAV investment firm in France. The ETF tracks the MSCI India net total return index.

Approval of the merger was sought from the home regulator of the ETFs, the Autorité des Marché Financiers of France (AMF) on 29 March 2019, whilst SGX granted its approval-in-principle of the proposed delisting on 2 April.

Class C-USD of the ETF (which is currently listed on the SGX-ST) will be merged into Class Acc (USD) of the MUF ETF on 9 May 2019. Units of the ETF will be converted into shares of the MUF ETF in a 1:1 conversion rate.

Trading of the MUF ETF on SGX-ST is expected to begin from 15 May 2019.

“To improve economic efficiency and provide investors with an investment vehicle that is recognised internationally, it has been decided, at the request of the mManager, to merge the ETF into the MUF ETF,” Lyxor said.

“[T]he designated market maker will stand ready to quote bid and ask prices prior to the suspension of the listing and quotation of the ETF to ensure that unitholders are able to liquidate their position in the ETF before the close of the Last Trading Day,” Lyxor added.