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…]
The outcome of a dramatic coup in Australia shocked investors on Thursday, as the once-popular Kevin Rudd was replaced as Prime Minister by his deputy Julia Gillard. The ouster ended a two-and-a-half year reign for the man who helped bring his party to power after an 11 year drought as the minority government. The move [...]
The ETF industry picked up steam in November, with several highly-anticipated funds coming to market and multiple issuers disclosing new details on innovative products that could be launched in 2010. The biggest news for the month was the entrance of Charles Schwab into the industry with the launch of four ETFs in early November. Debuting [...]
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 [...]