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Funds For The Prophets
''Jesus Saves'' is a beloved song among faithful Christians. But where would Jesus invest? Faith-based funds and ETFs may have the answer.
April 27, 2010--The number of faith-based mutual funds and exchange-traded funds (ETFs) has grown tremendously over the last few years. These funds make investments based on the principles and teachings of a religion.
Most faith-based ETFs and mutual funds (no matter what the religion) avoid companies that produce alcohol, tobacco and pornography. Some funds have a much longer list of banned investments, including companies engaged in producing and selling firearms, those in the oil industry, those related to gambling and, at times, banks. Some funds avoid companies with a corporate culture they find disagreeable.
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Source: Forbes
Claymore files with SEC
April 27, 2010--Claymore has filed a registration statement with the SEC for
Claymore Shipping ETF
Ticker symbol: SEA
INVESTMENT OBJECTIVE
The Fund seeks investment results that correspond generally to the
performance, before the Fund's fees and expenses, of an equity index called the
Delta Global Shipping Index
Total annual Fund operating expenses-0.65%
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Source: SEC.gov
iShares files with the SEC
April 27, 2010--iShares has filed a post-effective, registration statement with the SEC for
iShares MSCI Emerging Markets Small Cap Index Fund
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Source: SEC.gov
Deutsche Bank denies it faces any SEC charges
April 27, 2010--Deutsche Bank gave an unusually explicit denial that it knew of any potential charges from the US Securities and Exchange Commission as it tried to distance itself from fears that it could find itself in a similar position to Goldman Sachs, which faces fraud allegations.
Stefan Krause, chief financial officer, said Germany’s largest bank had not received a so-called Wells Notice – a notification from the SEC indicating evidence to support civil charges.
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Source: FT.com
WisdomTree Lists ETFs on Bolsa Mexicana De Valores
April 27, 2010--WisdomTree an exchange-traded fund (“ETF”) sponsor and asset manager, announced today that nine WisdomTree ETFs will be listed on the Mexican stock exchange, Bolsa Mexicana De Valores (BMV). Three WisdomTree Dreyfus Currency Income ETFs and six WisdomTree equity ETFs will be listed in the special international section of the BMV, the Sistema Internacional de Cotizaciones.
SIC makes it possible for certain institutional investors to trade foreign securities in Mexico. Securities listed on the SIC are not publicly offered in Mexico.
“The same qualities that have fueled the rapid adoption of ETFs in the U.S. – liquidity, transparency and tax efficiency compared to traditional investment products – have contributed to the growth of the ETF market in Mexico and other markets across the world. We are pleased to cross-list nine ETFs on the Bolsa Mexicana De Valores in recognition of this growing demand and believe Mexico presents a significant opportunity for WisdomTree and the ETF industry as a whole,” said Bruce Lavine, WisdomTree President & COO.
| US Fund Name | US Ticker | |
| WisdomTree LargeCap Dividend Fund | DLN | |
| WisdomTree SmallCap Earnings Fund | EES | |
| WisdomTree Japan SmallCap Dividend Fund | DFJ | |
| WisdomTree Emerging Markets Equity Income Fund | DEM | |
| WisdomTree Emering Markets SmallCap Dividend Fund | DGS | |
| WisdomTree India Earnings Fund | EPI | |
| WisdomTree Dreyfus Chinese Yuan Fund | CYB | |
| WisdomTree Dreyfus Emerging Currency Fund | CEW | |
| WisdomTree Dreyfus Brazilian Real Fund | BZF |
*Chart Applicable to US markets only.
Source: Wisdom Tree
BATS Options Rollout Continues - Kansas City-Based US Equity Options Exchange Announces - Trading In Additional 500 Securities, Effective Today
April 27, 2010--April 27, 2010 – BATS Global Markets, an innovative global financial markets
technology company, continues the rollout of BATS Options, the newest U.S. equity options exchange,
with the addition of options on more than 500 underlying securities available for trading on its system
today.
BATS Options now offers trading in options on more than 1,000 underlying securities and will complete
the rollout by May 17th. The complete rollout schedule is available at www.batsoptions.com.
Less than two months after launching, BATS Options set a one-day record of 118,673 contracts traded on Friday, April 16th.
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Source: BATS
Committee Approves FHA Reform Act
April 27, 2010--Today, the House Financial Services Committee approved legislation to ensure that the Federal Housing Administration (FHA) remains viable and continues its mission of insuring mortgage loans.
Congresswoman Maxine Waters (D-CA), Chairwoman of the Housing and Community Opportunity Subcommittee, drafted the FHA Reform Act of 2010 (H.R. 5072) in response to recent events that caused FHA’s reserves to fall below the two percent level required in law. The Act will empower FHA to improve its financial position by allowing the agency to adjust its premium structure for new borrowers, while still providing affordable mortgage insurance to the individuals FHA is intended to serve including low-income and minority borrowers and individuals in traditionally underserved areas
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Source: House Financial Services Committee
Statement of Commissioner Bart Chilton on Meeting to Consider Significant Price Discovery Contract Determinations, Washington, DC
April 27, 2010--I’m pleased the Commission is moving forward with determinations regarding significant price discovery contracts pursuant to Congressional mandates. This process will bring under federal oversight certain contracts that can affect prices—prices that consumers pay for myriad commodities.
It will not, however, address many outliers that remain and need to be addressed as part of financial regulatory reform efforts currently being considered on Capitol Hill. For example, the process we are involved in today will not and cannot address needed oversight of over-the-counter transactions such as credit default swaps that brought down American International Group and helped further propel our economy to the edge of a cliff in 2008. If there is one thing we should take away from the economic fiasco, it is that regulatory reform is needed. The status quo is unacceptable. I’m concerned about efforts to stall progress on legislation in this regard. I understand that individual Senators may have issues that they want addressed, and I am hopeful that the amendment process will provide them with a vehicle to do just that. But individual agendas should not and cannot be allowed to derail necessary changes to our financial system.
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Source: CFTC.gov
Statement of Commissioner Jill Sommers on Meeting to Discuss on Significant Price Discovery Contracts
April 27, 2010--The appropriate regulatory treatment of contracts traded on Exempt Commercial Markets (ECMs) has been an important and evolving issue for the Commission from the time Congress authorized their existence in 2000. Initially ECMs were subject to basic recordkeeping and reporting requirements for contracts averaging five trades per day or more, and the Commission could demand the production of additional information under its special call authority when appropriate.
The Commission was also authorized to determine that an ECM contract performed a significant price discovery function for an underlying cash market. Such a finding did not, however, trigger any self-regulatory responsibilities for the ECM or any additional oversight authority for the Commission. In addition, while the information received from ECMs was somewhat useful to the Commission, it was not transmitted in a form that could facilitate regulatory oversight such as our large trader reporting system does.
As ECM markets developed over the past decade, the Commission recognized that additional oversight authorities were needed or potentially needed for price discovery contracts traded on ECMs, particularly those linked to fully regulated contracts traded on designated contract markets (DCMs). The Commission found that a similar level of regulation was appropriate for these contracts, not only to give both the Commission and ECMs proper policing authority, but to eliminate possible competitive disparities that could unfairly advantage an ECM listing a contract that competed with a DCM contract, but was not subject to the same regulatory restrictions. In 2007 the Commission recommended that Congress amend the Commodity Exchange Act to correct this gap in the law, which Congress did in the 2008 Reauthorization Act.
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An ETF invests on the opposite side of the Street read more
Source: CFTC.gov
April 26, 2010--While actively managed exchange-traded funds are becoming more plentiful, indexed investors need not feel neglected. The adventurous among them can choose from a growing number of ETFs that track indexes designed to measure active strategies.
Some of these passively managed active strategies are pretty simple. For instance, the iShares Dow Jones Select Dividend ETF and Wisdom Tree Total Dividend are based on indexes that select high-yielding stocks from companies unlikely to cut their dividends.
Source: Market Watch