Alps and Cohen & Steers launch global real estate ETF

Thu, 15 May 2008, 06:00

ETFexpress

Cohen & Steers has announced the launch of a global real estate exchange-traded fund, adviser by Alps Advisers, which offers investors an opportunity to participate in the income streams and diversification benefits of global real estate securities.

Solar ETFs gain on analyst upgrade

Wed, 14 May 2008, 22:15

Smart Money

For the second straight day solar ETFs enjoyed their day in the sun. Solar products have been in high demand, especially during a time of record-high energy commodity prices. Indeed, earlier in the week companies like Canadian Solar (CSIQ: 44.00, +3.22, +7.89%) and JA Solar (JASO: 24.17, +0.47, +1.98%) announced healthy first-quarter numbers. And today an analyst upgraded Evergreen Solar (ESLR: 9.27, +0.83, +9.83%), causing investors to jump into the industry once again. The top two-performing ETFs of the day, Market Vectors Solar Energy (KWT: 42.94, +1.57, +3.79%) and Claymore/MAC Global Solar Energy (TAN: 28.83, +1.37, +4.98%), gained 3.9% and 3.6%, respectively, Wednesday.

BetaPro to merge mutual funds into ETFs

Wed, 14 May 2008, 21:42

Investment Executive

Jovian Capital Corp and its related company, BetaPro Management Inc., plan to merge several Horizons BetaPro mutual funds with their equivalent exchange traded funds (ETF), the firms announced today. As well, certain other HBP mutual funds will be terminated, each with an effective date of approximately July 31.

Kotak ETF backs Sensex

Wed, 14 May 2008, 21:42

Economic Times

Kotak Mahindra Asset Management Company is encouraging its investors to deploy a small percentage of their total funds in its third exchange traded fund offering, Kotak Sensex ETF. "We see ETFs as an add-on to an investors' portfolio. We want our investors to complement and supplement their portfolio with a certain percentage of investment, say 5-20 per cent, in ETFs which are a passive way of investment in the equity market. This will mitigate the risk in equity schemes," said Lakshmi Iyer, vice president & head - product, Kotak Mahindra AMC. Although equity funds have given better returns in the long run (5 years time horizon), only 67 of the 168 equity diversified schemes in India with a minimum one-year record have outperformed the Sensex over the last 12 months, according to a study.

US ETF assets rise 4 pct in April, says State Street

Wed, 14 May 2008, 20:35

Reuters

Assets in US-based exchange-traded funds rose by USD22.9 billion, or 4 per cent in April to USD594.75 billion, according to a report on Wednesday from State Street Global Advisors. During the month, 16 ETFs were launched, raising the total to 659. Assets of ETFs investing in stocks of REITs grew by 18 per cent to USD9.024 billion and assets of ETFs investing om financial stocks grew by 16 percent to USD11.913 billion, the largest percentage increases among sector ETFs.

BRIC ETFs on the upswing

Wed, 14 May 2008, 16:31

Investors.com/Investor's Business Daily

Though volume remained thin until this month, the nearly one-year-old SPDR S&P BRIC 40 (BIK) is up 26% since March 20. And the nearly two-year-old Claymore/BNY BRIC (EEB) vaulted 31% on heavier-than-average trade during the same period. Both ETFs are working their way out of double-bottom bases.

BetaPro Management Inc files 10 new Horizons BetaPro ETFs

Wed, 14 May 2008, 16:31

StockHouse

Jovian Capital Corporation (JOV: TSX) and its related company BetaPro Management Inc are pleased to announce the filing of a preliminary prospectus for ten new Horizons BetaPro Exchange-Traded Funds ("HBP ETFs"). The new HBP ETFs filed are: Horizons BetaPro S&P 500(R) Bull Plus ETF; Horizons BetaPro S&P 500(R) Bear Plus ETF; Horizons BetaPro NASDAQ-100(R) Bull Plus ETF; Horizons BetaPro NASDAQ-100(R) Bear Plus ETF; Horizons BetaPro MSCI Emerging Markets(R) Bull Plus ETF; Horizons BetaPro MSCI Emerging Markets(R) Bear Plus ETF; Horizons BetaPro U.S. Dollar Bull Plus ETF; Horizons BetaPro U.S. Dollar Bear Plus ETF Horizons BetaPro U.S. 30-year Bond Bull Plus ETF; and Horizons BetaPro U.S. 30-year Bond Bear Plus ETF.

Four WisdomTree dreyfus currency income ETFs list on NYSE Arca

Wed, 14 May 2008, 15:54

BusinessWire

NYSE Euronext (NYX) today announced the launch of the first four WisdomTree Dreyfus Currency Income ETFs on NYSE Arca. As an industry leader in ETF and ETN listings and trading, such products listed on NYSE Arca represent 56% of ETF and ETN assets under management in the US, nearly USD613 billion, the most of any exchange. The following WisdomTree ETFs will seek to earn current income reflective of money market rates available to US investors in the specified country or region. Classified as actively managed ETFs by the SEC, the funds will seek to provide exposure to changes in the value of a designated non-US currency relative to the US dollar. The ETFs are: WisdomTree Dreyfus Chinese Yuan Fund CYB; WisdomTree Dreyfus Indian Rupee Fund ICN; WisdomTree Dreyfus Brazilian Real Fund BZF; and WisdomTree Dreyfus Euro Fund EU.

Ex-hedge fund manager, others agree to pay $1 million-plus to settle insider trading case

Wed, 14 May 2008, 15:24

Boston Business Journal

An insider trading case involving Citizens Bank's acquisition of Charter One Financial Inc has been settled after a former hedge fund manager and related parties agreed to pay more than USD1 million in penalties, the Securities and Exchange Commission said on Monday. Former hedge fund manager Michael KC Tom of Waltham, Global Time Capital Management LLC and hedge fund GTC Growth Fund LP agreed to the penalties after being accused of insider trading by the SEC.

db x-trackers lists two ETFs on Deutsche Boerse

Wed, 14 May 2008, 14:57

Investment Week

Deutsche Bank ETF arm db x-trackers has listed two ETFs on the Deutsche Boerse. The Short Iboxx € Sovereigns Eurozone Total Return index tracker will represent a short position on the overall sovereign debt issued by Eurozone governments.
The group said this will be particularly interesting to investors forecasting continued long-term inflationary pressures driving up bond yields. And the Emerging Markets Liquid Eurobond index tracker will provide a euro-hedged exposure to 14 emerging market sovereign and quasi-sovereign Eurobonds. The group said this ETF will also provide access to the underlying index methodology, including macroeconomic factors which have proved to be highly rewarding in the past.

Taiwan exchange eyes launch of sharia fund in H2

Wed, 14 May 2008, 12:30

Yahoo/Reuters

Taiwan's stock exchange will launch an Islamic exchange traded fund in the second half of this year, Chairman Wu Rong-I said on Wednesday. "Since Malaysia is a Muslim country, we think a sharia-compliant exchange traded fund may be marketable here," Wu told reporters on a visit to the Malaysian capital. "We are open, we are interested to work with any exchanges."

Van Eck adds five ETFs to lineup

Wed, 14 May 2008, 11:37

Euromoney Institutional Investor

Van Eck Associates Corp. plans to add five exchange-traded funds to its Market Vectors ETF Trust series, Dow Jones Newswires reports. Market Vectors-Africa ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Africa Index, according to a Securities and Exchange Commission filing from last week. The Africa Index is comprised of companies with market capitalizations of more than USD200 million. The companies in the index are headquartered in Africa or generate the majority of their revenue in Africa.

Invesco PowerShares introduces global asset allocation ETFs

Wed, 14 May 2008, 10:58

Plan Adviser

Invesco PowerShares Capital Management LLC unveiled three exchange-traded fund (ETF) portfolios that are ETFs of ETFs. The company, a division of Invesco Ltd, said the portfolios are designed to give investors access to long-term, core asset allocation strategies through investment in other ETFs. The new portfolios, based on three defined risk profiles targeting a given percentage of investment in equity and fixed-income securities—balanced, balanced growth, and growth—are expected to begin trading Thursday on the American Stock Exchange. PowerShares Autonomic Global Asset Portfolios are the first of a new family of PowerShares ETF portfolios that seek to provide global, risk-controlled asset allocation strategies through investment in other ETFs, the company said.

New frontiers for ETFs

Wed, 14 May 2008, 10:58

Financial Planning

ETFs are still a long way from unseating the mighty mutual fund, but investors are clearly cozying up to their advantages: low fees, ease of trading and tax efficiency. As dramatic an entrance as ETFs have made on the investing scene, the industry is still innovating at a fast pace. New products looking to capitalize on almost every niche in the investing world are coming out almost daily. And ETFs are gaining a toehold in the highly lucrative 401(k) market.

State Street starts real estate, mid-cap ETFs

Wed, 14 May 2008, 08:45

Ruters

State Street Global Advisors on Tuesday launched an exchange-traded fund that invests in global real estate and another that invests in international small-cap stocks. The SPDR DJ Wilshire Global Real Estate ETF RWO.A and the SPDR S&P International Mid Cap ETF MDD.A have their primary listing on the American Stock Exchange.

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