Daily ETF Watch: New Fisher ETNs To Launch

Three ETNs are coming to market June 11, and it looks like two could be ‘bespoke.’

A total of three exchange-traded notes are launching Wednesday, June 11, including two leveraged ETNs focused on large-cap equities that have California-based advisor Ken Fisher’s name on them. Fisher is associated with a number of successful “bespoke” ETNs that have launched in the past year.

The third note is focused on the master limited partnership space, but excludes energy-related holdings.

The three ETNs and their trading symbols are:

• Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes (FLGE)
• UBS AG FI Enhanced Large Cap Growth ETN (FBGX)
• ETRACS Wells Fargo MLP Ex-Energy ETN (FMLP)

The two Fisher-linked ETNs, identified with “FI” in each of their names, could well be set for instant success. In past ETN launches, Fisher has allocated significant client assets to the ETNs in the immediate aftermath of their launches, which made those funds successful from the start.

For example, the Barclays ETN+ FI Enhanced Global High Yield ETN (FIGY) launched last May and is currently managing about $1.6 billion, thanks to the fact that FIGY was created as a bespoke product for asset manager Fisher Investments, which presumably holds most of the notes outstanding.

News of the upcoming ETN launches came from NYSE communiques, but the price supplements of the three securities weren’t immediately available.