According to the National Stock Exchange, total cash flows into exchange-traded products through the first ten months of the year have totaled more than $72 billion, an indication that the ETF industry continues to grow by leaps and bounds. While this figure is down slightly from the same period in 2008, it is widely expected that the ETF space will continue to expand, transitioning from a closet industry to a mainstream investment vehicle embraced by buy-and-holders and short-term traders alike. [click to continue…]
iShares, the issuer behind the ultra-popular MSCI Emerging Markets Index Fund (EEM), is planning to expand its emerging market product offerings, filing for approval on two sector-specific ETFs, the MSCI Emerging Markets Financial Sector Index Fund and the MSCI Emerging Markets Material Sector Index Fund. Historically, emerging markets ETFs have offered broad market exposure, inclusive [...]
The International Energy Agency (IEA), an energy advisor to rich nations such as the U.S., released its highly-anticipated World Energy Outlook on Tuesday, singling out potential climate change initiatives as a major driver of oil consumption and prices in coming decades. If a major agreement to cut greenhouse gas emissions is signed and implemented in [...]
Yesterday in Egypt, Chinese Premier Wen Jiabao offered $10 billion in concessional loans to Africa over the next three years, describing China as a “true and tested friend” of the African people. Wen also pledged to build 100 new clean energy projects for Africa in an effort to support the development of green economies in [...]
Earnings season continued on Wednesday with announcements from several major global energy firms. Exxon Mobil, the world’s largest oil company, reported earnings of $4.7 billion, or 98 cents per share, representing a 68% drop from year ago levels when the company set earnings records. Analysts had been expecting earnings of $1.06 per share, and Exxon’s [...]
The Wall Street Journal is reporting that Cnooc Ltd., a state-owned Chinese oil company, is close to a deal that would open the U.S. Gulf of Mexico to China’s oil companies for the first time. The potential transaction reflects the impact that the recent recession has had on global deal-making. Four years ago, Cnooc’s abandoned [...]
Historically, most U.S. investors steered the vast majority of their equity holdings into domestic stocks, shying away from emerging markets because of their “excessive” volatility. But over the last few years, U.S. markets have experienced unprecedented turbulence and a prolonged downturn while many emerging markets have proved to be surprisingly resilient in the face of [...]
Energy giant Exxon Mobil has agreed to buy a minority stake in an oil field off the coast of Ghana for $4 billion, the company’s first major purchase in nearly ten years. Exxon is purchasing a 23.5% stake in the Jubilee field from Dallas-based Kosmos Energy, an oil and gas exploration company that was part [...]
Emerging Global Advisors on Wednesday launched the Dow Jones Emerging Markets Financials Titans Index Fund (EFN), the first exchange-traded fund to offer targeted exposure to banks, insurance companies, and financial institutions in emerging markets. EFN brings Emerging Global Advisors’ line of products to four, with the other three including:
Although the entire ETF industry has enjoyed a tremendous boom over the last year, perhaps no corner of the market has expanded as quickly as emerging markets funds. According to State Street’s industry snapshot, assets in international ETFs totaled about $28.6 billion at then end of June, representing an increase of 27.5% year to date. [...]
In the latest development in the ETF industry, Emerging Global Advisors LLC last week launched two new ETFs that track specific sectors in emerging markets. The new funds are based on the Dow Jones Emerging Markets Sector Titans indices. The two new funds are:
