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.

Ascendant Advisors LLC has launched the Ascendant National Resources Fund (NRGAX/NRGCX/NRGIX), Ascendant Multi-Cap Equity Fund (AEQAX/AEQCX/AEQIX) and Ascendant Balanced Fund (ATBAX/ATBTX/ATBIX). Ascendant has designed these funds to provide investors access to its investment strategies, previously available only to institutional investors. Gemini will work closely with Ascendant to define and implement the funds’ distribution and marketing plans. The portfolios are ultimately constructed at the direction of Todd Smurl.

The Ascendant Natural Resource Fund will seek long-term out performance of the S&P North American Natural Resource Sector Index by applying the Ascendant investment approach to equities involved in natural resource industries, including oil and gas, precious metals, agriculture and other “hard asset” commodities. The Ascendant Multi-Cap Equity Fund seeks long-term outperformance of the S&P 1500 index and will allocate to Ascendant’s large-cap, small-/mid-cap, equity income and natural resource strategies.

The Ascendant Balanced Fund, the most broadly diversified product, is a combination of the multi-cap equity and fixed income composite strategies and seeks to outperform a 60/40 blend of the S&P 1500 and Merrill Lynch Master Government/Credit Bond Index.

Both the multi-cap equity and the balanced fund are designed to provide ample diversification and are intended as a core holding in investor accounts.

3) First Eagle U.S. Value Fund Celebrates 10th Anniversary

First Eagle Investment Management announced that its U.S. Value Fund (FEVAX) celebrated its 10th anniversary in September, with an average annualized return of 8.87% and $1.7 billion in total net assets. With Morningstar’s highest rating of five stars overall for Class A shares, the fund ranks in the top 1% of all 832 funds in Morningstar’s Large Blend fund category for the 10-year period ending 09/30/2011.

Led by Matthew McLennan, along with Abhay Deshpande, Kimball Brooker, and Matthew Lamphier, the team employs a bottom-up, value-oriented approach. This strategy seeks companies with financial strength and stability that trade at a discount to the team’s assessment of intrinsic value. The fund seeks long-term growth of capital by investing primarily in U.S. equity and debt securities.

Read last week’s Portfolio Products Roundup at AdvisorOne.com.