
The last month has seen the launch of tradable blue chip global sector indices by FTSE and Dow Jones. Introduced on February 12 and developed in consultation with Merrill Lynch, the FTSE global sector indices cover 11 sectors.
The last month has seen the launch of tradable blue chip global sector indices by FTSE and Dow Jones. Introduced on February 12 and developed in consultation with Merrill Lynch, the FTSE global sector indices cover 11 sectors.
Some in the ETF industry think that Barclays’ new iShares Cohen & Steers Realty Majors Index Fund, launched February 2 with an undisclosed amount of startup capital, will appeal to institutional investors; others consider it a retail product. Barclays says it has appeal in both spheres.
Everest Funds Management LLC, located in Omaha, Nebraska, launched a fund of ETFs December 1, 2000. The concept is new, and this is the first fund of ETFs ever to be launched.
When the American Stock Exchange released its year 2000 statistics, it gleefully noted that the amount of money invested in ETFs, including HOLDRS, had more than doubled to $70.3 billion in invested assets, up from $35.9 billion at the end of 1999. But upon closer inspection of the 2000 year-end data, a skewed picture emerges.
Despite the bruising the Nasdaq took last year, the market system broke records for volume and dollar value of shares traded.
Addison Capital Management LLC has stayed in business quietly for 20 years, managing what is currently about $300 million of US and foreign clients’ assets with an eye toward consistent, low risk, tax efficient returns using a value-oriented equity strategy.
“ The SEC will approve fixed income ETFs well before active ETFs”
One of the more easily overlooked components of exchange-traded fund production is the back office operation.