New products introduced over the last week include a new renminbi bond ETF from Van Eck and three new funds from Gemini.
In addition, First Eagle’s U.S. Value Fund marked its 10th anniversary.
Here are the latest developments of interest to advisors:
1) Van Eck Global Adds Another China-Focused ETF
New York-based asset manager Van Eck Global announced Wednesday that it has launched the Market Vectors Renminbi Bond ETF (CHLC), which offers investors exposure to Chinese renminbi (RMB)-denominated bonds, often referred to as “dim sum” bonds.
CHLC seeks to track, before fees and expenses, the price and yield performance of the Market Vectors Renminbi Bond Index (MVCHLC), an index designed to track the performance of RMB-denominated investment-grade bonds or unrated bonds from investment-grade issuers in and outside of China.
CHLC has a gross expense ratio of 0.50% and a net expense ratio of 0.39%, which is capped until May 1, 2013 and is the lowest net expense ratio of any U.S.-listed “dim sum” bond ETF currently on the market.
2) Gemini Announces Addition of 3 Ascendant Funds to Northern Lights Fund Trust I
Gemini Fund Services LLC announced Tuesday that three funds have been added to its Northern Lights Fund Trust I (NLFT I) shared mutual fund trust.