Heading into 2011, many observers of the ETF industry were warning that this year could see a wave of fund closures, as ETFs that were failing to generate positive cash flow for the institutions behind them could be shuttered. That wave of contraction has yet to really play out, as only a handful of ETFs have closed their doors and returned investor money in 2011. FaithShares, the firm behind a lineup of faith-based products, pulled the plug a few months ago and opted to reorganize as a turnkey ETF company. Javelin shut down its contrarian ETF after failing to gain traction, and a handful of other companies have made similar moves. [click to continue…]
Stock markets have broadly come back so far in 2011, as optimism over growth in emerging nations and some portions of the developed world has outweighed geopolitical concerns in the Middle East and a nuclear disaster in Japan. While a number of sectors have led this charge higher, undoubtedly one of the most important is [...]
Global X, the New York City-based ETF issuer known for its various country and sector-specific products, continues to be active on the product development front; the firm recently filed details with the SEC for two new niche ETFs. The filing was light on details such as tickers or expenses, but did shed some light on [...]
Last week, Jefferies Asset Management unveiled two new exchange-traded funds targeting equities of global commodity producers. The two funds, which track subsets of the Thomson Reuters/ Jefferies CRB In-The-Ground Global Commodity Index tracked by CRBQ, invest in companies across the globe that are involved in the extraction and production of commodities. CRBI seeks to track [...]