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Looking Back At Our ETF Ideas For 2011

Michael Johnston — Tue, 20 Dec 2011 14:00:48 +0000

With snow now blanketing a big part of the country and 2012 just a few weeks away, looking back at the past year becomes a popular activity. For many portfolios, 2011 has been marked by big swings that seem to be leaving investors right about where they started; there has been plenty of activity over the last 11 months, but little to show for it in way of returns. Like many others, we put forth a list of actionable ETF ideas that we believed were positioned to perform well in 2011 at the end of last year, laying out the investment thesis behind 11 exchange-traded products that we thought would thrive this year. With 2011 coming to a close, it’s time to take a look back at our predictions for this year, noting some big wins and lamenting a few calls [see 11 Rapid Fire ETF Ideas For 2011]: “Rapid [...]

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Ten ETFs No One Is Thankful For

Stoyan Bojinov — Wed, 09 Nov 2011 14:00:28 +0000

The ETF industry has grown by leaps and bounds over the last five years and innovation across products has brought forth a multitude of previously inaccessible investment strategies to mainstream investors. Aside from the vast expansion in the exchange-traded product universe, the last five years have been nothing short of a roller coaster ride. Global financial markets witnessed an unprecedented economic downturn after the collapse of the U.S. housing market, only to stage a truly remarkable recovery in the years following. There are now more than 1,350 ETPs available on the market, most of which are relatively new introductions to investors. Those with longer track records have endured some severe losses in recent years, putting a significant dent in many portfolios; of the 330 or so available prior to November 2006, close to half have delivered negative returns. Amidst the chaos in the markets in recent years, some exchange-traded products [...]

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Van Eck Plans Specialty Finance ETF

Michael Johnston — Sun, 01 May 2011 15:00:31 +0000

Historically, Van Eck has been known in the ETF space for its hard assets expertise and suite of targeted emerging markets funds. But recently the New York-based firm has also taken steps to develop other corners of its ETP lineup, including the introduction of the first investment grade floating rate debt fund (FLTR) earlier this week. In a recent SEC filing the company laid plans for what would be another unique ETF, detailing the Market Vectors Business Development Company/Specialty Finance ETF. The proposed fund would seek to replicate the Market Vectors Business Development Company/Specialty Finance Index, a benchmark that is comprised of U.S.-listed business development companies (“BDCs”) and specialty finance companies. According to the filing, BCDs are companies whose principal business is to invest in, lend capital to or provide services to privately-held companies. Specialty finance companies provide capital or financing to businesses and consumers within specified market segments [find [...]

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UBS Debuts BDC ETN (BDCS)

Michael Johnston — Fri, 29 Apr 2011 14:00:42 +0000

UBS has made another addition to its fast-growing ETN lineup, rolling out a product linked to an index consisting of U.S.-listed business development companies (“BDCs”). Th E-Tracks Linked to the Wells Fargo Business Development Company Index (BDCS) is an exchange-traded note due in April 2041. The underlying index currently consists of about 26 BDCs, including Ares Capital Corp., American Capital Ltd., and Apollo Investment Corp. BDCs are generally involved in lending money to small and mid-sized companies, often establishing equity stakes in the companies as well. The portfolio of Ares Capital, one of the largest components of the index linked to BDCS, consists of 1st Lien Senior Debt, 2nd Lien Senior Debt, Senior Subordinated Debt, Senior Secured Loan Program, Equity, and commercial real estate. The portfolio of a BDS may consist of various types of investments in dozens or even hundreds of privately-held companies. Unique Exposure BDCs are legal entities [...]

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11 Rapid Fire ETF Ideas For 2011

Michael Johnston — Mon, 03 Jan 2011 15:00:38 +0000

Last week saw the end of a year that was relatively kind to investor portfolios, as most major asset classes managed to post strong results in 2010. As the calendars flip to 2011, the outlook remains uncertain; lingering obstacles in the form of high unemployment and bloated debt loads certainly pose problems, but rapidly-expanding emerging markets and resurgent corporate earnings provide reason to be optimistic. As investors review their performance over the last year and look forward for opportunities in the year to come, we offer up 11 high level thoughts on intriguing ETF investments for 2011 [for more ETF insights, sign up for our free ETF newsletter]: 1. PowerShares Listed Private Equity (PSP) After a relatively meager IPO year in 2010, many on Wall Street are predicting that 2011 could see the return of $1 billion-plus initial public offerings. “In 2011, we will see some very large multibillion-dollar IPOs,” [...]

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How Record Private Equity Cash Pile Could Move PSP

Eric Dutram — Fri, 23 Jul 2010 13:30:51 +0000

Most financials have been under the microscope in recent weeks, with poor reports coming out of both Bank of America and Citigroup and Washington pushing through a plan to overhaul the existing regulatory system. These events have caused many investors to wonder about the prospects of growth at big Wall Street banks; some are now looking to other corners of the market in order to provide exposure to financials without considerable downside risk. Private equity has seen growing interest from the investment community, and as a result is now facing a problem that most would love to have: the industry simply has too much cash. In the height of the housing market boom in late 2007 and early 2008, private equity firms were storming ahead, accumulating assets and making plenty of deals. But after the crash deals dried up and the number of investment options were severely limited as valuations [...]

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Will Buyers’ Market Boost Private Equity ETF (PSP)?

Michael Johnston — Tue, 02 Feb 2010 15:20:05 +0000

Wall Street bonuses on par with the glory days of the early 2000s have convinced many investors (and politicians) that the financial sectors is back on steady ground, churning out record profits and once again rolling the dice on risky financial instruments. But according to a recent study, private equity firms face one of the toughest operating environments in decades, and a wave of mergers and closures is expected to wash over the industry in coming months. A poll conducted by the Private Equity News, more than 80% of private equity managers expect “a wave of closures or mergers within the industry because the poor fundraising environment will last longer than previously expected,” writes Tom Fairless. Of the 500 people and firms surveyed for the poll, three quarters of those expecting industry consolidation believe it will come in the form of fund closures due to inability to raise funds, while [...]

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Ten ETF Ideas For 2010

Michael Johnston — Wed, 30 Dec 2009 04:47:58 +0000

Many investors will be sorry to see 2009 end. Following one of the most disruptive years in recent memory in 2008, almost every asset class participated in a stellar recovery this year. At the depth of the recession, fear trumped reason, and irrational anxieties pushed many assets, including ETFs, well below their intrinsic value. Much of the final three quarters of the year was spent recouping these losses, much to the delight to those who had the wisdom to identify an exaggerated downward correction and the stomach to stay all in as prices bottomed out. Now, with 2010 just around the corner, the hard work begins. The low-hanging fruit has been collected, and the road ahead is littered with daunting obstacles, ranging from still-rising unemployment to inflation concerns to international debt crises. That’s not to say that 2010 won’t be another stellar year, just that more concrete evidence of a [...]

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October ETF Roundup: Launches, Filings, and Closures

Michael Johnston — Mon, 02 Nov 2009 15:44:55 +0000

October was another busy month for the ETF industry, with the launch of several new funds, including a handful that will compete directly with well-established ETFs and some that seek to address potential regulatory issues facing traditional commodity products. Highlights from the month included: Claymore, in partnership with AlphaShares, launched the China All-Cap ETF (YAO), the first fund to offer exposure to China across all market capitalizations. Prior to the launch of YAO, China ETFs were generally dominated by holdings in mega cap companies or focused exclusively on small cap firms. YAO has already proven to be tremendously popular, accumulating more than $65 million in assets in its first month. IndexIQ, the firm behind the first ever hedge fund ETF, launched two additional products designed to protect against inflation. The IQ CPI Inflation Hedged ETF (CPI) and IQ ARB Global Resources ETF (GRES) hit the market at a time when [...]

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PowerShares Private Equity ETF Goes Global

Michael Johnston — Thu, 01 Oct 2009 14:26:04 +0000

Chicago-based Invesco PowerShares announced yesterday that its Listed Private Equity Portfolio (PSP) will broaden its scope and begin tracking the Global Listed Private Equity Index, a benchmark composed of publicly-listed private equity firms around the world. Previously, PSP had tracked the Red Rocks Capital Listed Private Equity Index, a domestic benchmark. “The universe of publicly-listed private equity opportunities outside the United States is quite significant, and we are pleased to be broadening the scope of PSP to provide investors with a global exposure to this asset class,” said Ben Fulton, executive vice president global product development at Invesco PowerShares, in a press release. “PSP addresses the needs of investors building asset allocation models that seek to include the attributes of private equity, with the added benefit of daily liquidity provided by the ETF structure.” Private equity investments were among the hardest hit investments during the recent global recession. Between the [...]

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ETF Database » PSP

Looking Back At Our ETF Ideas For 2011

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