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ETF Securities USA files with the SEC
July 23, 2010--ETF Securities USA has filed a pre-effective amendment No, 1, FORM S-1 with the SEC for
ETFS Collateralized Commodities Trust.
The initial 18 Funds are
Long Collateralized Exchange Traded Commodity Funds:
ETFS ex-U.S. Oil
ETFS Natural Gas
ETFS Copper
ETFS Wheat
ETFS Composite Agriculture
ETFS Composite Industrial Metals
ETFS Composite Energy
ETFS All Commodities
Short Collateralized Exchange Traded Commodity Funds:
ETFS Short ex-U.S. Oil
ETFS Short Natural Gas
ETFS Short Copper
ETFS Short Wheat
ETFS Short Gold
Leveraged Collateralized Exchange Traded Commodity Funds:
ETFS Leveraged ex-U.S. Oil
ETFS Leveraged Natural Gas
ETFS Leveraged Copper
ETFS Leveraged Wheat
ETFS Leveraged Gold
read more
Source: SEC.gov
United States Commodity Funds files with the SEC
July 23, 2010--United States Commodity Funds has filed a Form S-1 with the SEC for
United States Commodity Index Fund.
view filing
Source: SEC.gov
Georgetown Investment Management LLC files with the SEC
July 23, 2010--Georgetown Investment Management LLC has filed an application for exemptive relief with the SEC.
read more
Source: SEC.gov
Georgetown Investment Management LLC files for exemptive relief with the SEC
July 23, 2010--Georgetown Investment Management LLC has filed for exemptive relief with the SEC to issue actively-managed ETFs. The Initial Funds are as follows:
Georgetown Small-Mid Cap Equity ETF
The Georgetown Prime Limited Maturity Bond ETF
view filing
Source: SEC.gov
PowerShares files with the SEC
July 23, 2010--PowerShares has filed post-effective amendment, registration statement with the SEC for
PowerShares Fundamental High Yield Corporate Bond Portfolio
(formerly PowerShares High Yield Corporate Bond Portfolio)
Ticker: PHB)
view filing
Source: SEC.gov
Schwab files with the SEC
July 23, 2010--Schwab has filed a post-effective amendment, registration statement with the SEC for 3 ETFs. They are
Schwab U.S. TIPS ETF-Ticker Symbol:SCHP
Total annual operating expenses: 0.14
Schwab Short-Term U.S. Treasury ETF-Ticker Symbol:SCHO
Total annual operating expenses:0.12
Schwab Intermediate-Term U.S. Treasury ETF-Ticker Symbol: SCHR
Total annual operating expenses:0.12
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Source: SEC.gov
Select Sector SPDR Trust Sues Invesco Over ETF Symbols
July 23, 2010--The manager of the Select Sector SPDR exchange-traded fund family is suing Invesco Ltd. (IVZ) over its use of similar trading symbols for its PowerShares ETFs.
The complaint by the the Boston-based Select Sector SPDR Trust accuses PowerShares Exchange-Traded Fund Trust II, Invesco PowerShares Capital Management LLC and Invesco of trademark infringement and misappropriation. It was filed Thursday in U.S. District Court in Houston.
Invesco introduced nine ETFs in April with the symbol XL that trade on the Nasdaq Stock Market, SPDR said. The trust said it has used XL for more than 10 years and that each of its ETFs traded an average of 25 million shares a day in 2009. In an example from the complaint, SPDR said its technology ETF uses the symbol XLK while Invesco’s PowerShares tech fund has XLKS.
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Source: Wall Street Journal
Van Eck Launches Market Vectors(TM) Emerging Markets Local Currency Bond ETF
July 23, 2010-- New York-based asset manager Van Eck Global has launched Market Vectors Emerging Markets Local Currency Bond ETF (NYSE Arca: EMLC), the first U.S.-listed exchange-traded fund (ETF) designed to provide investors with exposure to an index that tracks a basket of bonds issued in local currencies by emerging market governments. The Fund has a gross expense ratio of 0.60 percent and net expense ratio of 0.49 percent.
EMLC seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of J.P. Morgan Government Bond Index-Emerging Markets Global Core Index (ticker: GBIEMCOR). J. P. Morgan is a major provider of innovative emerging market indexes, with approximately $80 billion benchmarked to its GBI-EM index family as of June 23, 2010. GBIEMCOR currently has 171 constituents with maturities ranging from one to 30 years, and an average yield-to-maturity of 6.8 percent as of July 1, 2010.
The Index currently tracks a selection of bonds issued in local currencies by thirteen emerging market countries representing Latin America, Eastern Europe, Africa, and Asia: Brazil, Colombia, Egypt, Hungary, Indonesia, Malaysia, Mexico, Peru, Poland, Russia, South Africa, Thailand, Turkey. GBIEMCOR is market-cap weighted, with individual country exposures capped at 10 percent to provide more diversification among countries within the index. As of July 1, 2010 six countries met the 10 percent threshold, including Brazil, Malaysia, Mexico, Poland, South Africa and Thailand. Index rebalancing occurs monthly.
"With EMLC, we've created an ETF that allows investors to participate in the dynamics of the local emerging market economies, which include potential for currency appreciation and higher yields, relative to their developed market counterparts," said Jan van Eck, Principal at Van Eck Global. "We're very excited to be able to provide a means for tracking an index from the popular J.P. Morgan local currency bond index family, particularly at a time when the global markets are witnessing the growing importance of new economic leaders in regions such as Asia and Latin America."
"Over the last few years emerging markets have demonstrated resilience as much of the developed world has experienced massive fiscal deterioration and skyrocketing debt levels," said Joyce Chang, Head of Global Emerging Markets and Credit Research with J.P. Morgan. "EM countries have driven global growth in recent years and have become one of the fastest growing asset classes, providing an important source of diversification for investors."
EMLC is the 26th ETF offered under Van Eck's Market Vectors brand. Van Eck's recent product choices underscore the firm's continued commitment to emerging markets. Other international equity ETFs featured within the Market Vectors family include Africa Index ETF (AFK), Brazil Small-Cap ETF (BRF), Egypt Index ETF (EGPT), Gulf States Index ETF (MES), Indonesia Index ETF (IDX), Latin America Small-Cap Index ETF (LATM), Poland ETF (PLND), Russia ETF (RSX) and Vietnam ETF (VNM).
Van Eck Global also offers other Market Vectors ETFs focused on hard assets, specialty investments, and municipal bonds ETFs. As of June 30, 2010, Market Vectors ETFs had a total of approximately $14.5 billion in assets under management and was the 6th largest provider of ETFs in the U.S.
Source: Van Eck Global
CFTC Designates Green Exchange, LLC as a Contract Market
July 23, 2010-- The Commodity Futures Trading Commission (CFTC) yesterday approved the application of Green Exchange, LLC (“GreenEx”) for designation as a contract market. GreenEx is organized as a Delaware Limited Liability company and is a wholly-owned subsidiary of Green Exchange Holdings, LLC (“GreenEx Holdings”). Chicago Mercantile Exchange, Inc. (“CME”) is the largest equity owner of GreenEx Holdings.
Other equity owners include Evolution Markets, Inc., Morgan Stanley Capital Group, Inc., Credit Suisse First Goldman, Sachs, & Co., as well as other brokers, dealers and commercial users.
GreenEx will list for trading a broad variety of contracts for environmental risk management that are currently traded on the New York Mercantile Exchange (“NYMEX”).
GreenEx will use CME’s Globex electronic trade-matching system. Clearing services for GreenEx will be provided by CME Clearing House. Regulatory services for GreenEx will also be provided by CME.
Source: CFTC.gov
Global X Funds To Unveil World's First Lithium ETF
July 22, 2010--Global X Funds said Thursday it will unveil on Friday the world's first lithium exchange-traded fund in shares of the largest and most liquid lithium battery producing and mining and refining companies
"The Global X Lithium ETF is an efficient way to invest in what we refer to as a "green" commodity because of its direct correlation to the renewable energy market such as electric cars and energy storage," said Bruno del Ama, CEO of Global X Funds in a press release.
Lithium is expected to be in increasing demand as carmakers look to costly but more efficient lithium-ion batteries to power hybrid and electric vehicles.
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Source: World Environment News