New products introduced over the last week include a new ETF app to be sponsored by Invesco; a new market vectors index firm launched by Van Eck; and a new no-load investor share class for Forward Management’s Select Income Fund. In addition, SEI has put in place a new tax management structure for its Large-Cap Fund and
Here are the latest developments of interest to advisors:
1) Invesco PowerShares Secures Rights as Exclusive Sponsor of NASDAQ OMX ETF App
Invesco PowerShares Capital Management LLC announced Thursday that it has secured rights to be the exclusive sponsor of the NASDAQ OMX QFOLIO for ETFs app. The new ETF app is free, and is an intuitive tool to search, filter, and track the entire universe of U.S.-listed ETFs.
The app provides fast access to ETF product information and performance statistics in an easy-to-use interface. Investors can screen, compare, chart and watch their favorite ETFs across all issuer platforms. Initially available for the iPhone, iPad and Android versions are planned for introduction at a future date.
2) Van Eck Global Begins Self-Indexing With the Launch of Market Vectors Index Solutions GmbH
New York-based asset manager Van Eck Global announced Wednesday the launch of Market Vectors Index Solutions GmbH (MVIS) and the company’s new index website, marketvectorsindices.com. The Frankfurt, Germany-based MVIS will develop, market and license the market vectors indices, which currently underlie many of Van Eck Global’s ETFs.
MVIS launches with about $4 billion in investor assets tied to its indexes. The firm’s indexing methodology emphasizes investability, liquidity, and diversification and its indexes are currently used by 15 ETFs.
The current suite of Market Vectors Indices spans several asset classes, including commodity, international equity and international fixed income markets. MVIS has assumed ownership of the existing Market Vectors Indices that had been previously owned by 4asset-management.
“The launch of MVIS is an important step for Van Eck Global,” said Jan van Eck, Principal and CEO of Van Eck Global, in a press release. “Generally speaking, there has been a shift from theoretical benchmarks to investable benchmarks within the ETF space. The ability to develop our own line of proprietary benchmarks will allow for more flexibility to create indices that are well suited to underlie investment products such as ETFs.”
MVIS is headed by CEO Lars Hamich, who has more than 15 years of experience in the index field and financial product strategies.
3) Forward Management Introduces No-Load Investor Share Class for Select Income Fund
Forward Management, LLC announced on Tuesday the introduction of a new investor share class for the $1.2 billion, Forward Select Income Fund (FFSLX). The Select Income strategy focuses on preferred securities of real estate investment trusts (REITs) and provides attractive yields. The new investor share class carries no sales load, and also offers a lower investment minimum than the fund’s existing no-load institutional share class, enabling individuals to start investing with as little as $500.