New products introduced over the last week include a new Indonesia small-cap ETF from Market Vectors; the closure of a Turkish private equity fund; a high-yield bond fund from Aberdeen; and a new fund trust from Gemini.
In addition, Gemini began a new fund trust and UBS launched an ETRACS ETN.
Here are the latest developments of interest to advisors:
1) Market Vectors Launches First U.S.-Listed Indonesia Small-Cap ETF
Market Vectors ETF Trust announced Wednesday the launch of Market Vectors Indonesia Small-Cap ETF (IDXJ), the first U.S.-listed ETF designed to provide investors with pure play exposure to the small capitalization segment of Indonesia’s stock market. It seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of Market Vectors Indonesia Small-Cap Index (MVIDXJTR).
IDXJ has a gross expense ratio of 0.70% and a net expense ratio of 0.61%, which is capped until at least May 1. During such time, the expense limitation is expected to continue until the fund’s board of trustees acts to discontinue all or a portion of such expense limitation.
2) O’Melveny Assists Pera Capital in Turkish Private Equity Fund
O’Melveny & Myers LLP announced that it advised Pera Capital Partners Fund I, a mid-market Turkish private equity fund, in its first closing with over 40 million euros ($52 million) in commitments from leading institutional investors, funds of funds and family offices. The fund will focus on mid-market growth capital investments and will target transactions that range between 5 million and 15 million euros ($7 million–$20 million). The fund has a target size of 120 million euros ($157 million).
The London-based team in this transaction comprised partner John Daghlian, counsel Anita Roberts, and trainee solicitor Rory McDonagh.
3) Aberdeen Launches U.S High Yield Bond Fund