UBS Asset Management has announced it will close six of its ASX-listed ETFs and delist three.

The discontinued ETFs include UBS IQ Cash (MONY), two Morningstar Australia ETFs and three ethical ETFs for Europe, Japan and the US (UBE, UBJ and UBU).

“In respect of each fund, UBS considers that the fund is not, and is not likely to become, viable as an ASX-listed exchange-traded fund,” UBS said in a statement to the ASX.

“This is mainly due to insufficient scale, which results in costs that are disproportionately high as a percentage of each fund's net asset value. On this basis, UBS decided for each fund that the termination of the fund was in the best interests of the members as a whole.'

The last date units can be traded on the ASX or redeemed is Monday 11 May, with final trades due to be settled on 13 May. Termination will begin on Thursday, May 14, with final payment following immediately.

However, UBS believes three other ETFs – UBW, UBP and UBA – would be viable as wholesale unlisted funds and offer investors continued access on various terms, including lower fees and new benchmarks.