New products and changes introduced over the last week include four gold/currency ETFs from AdvisorShares and a fixed indexed annuity from the partnership of Nationwide Financial and Annexus.
In addition, Citi and Research Affiliates have launched a global corporate bond index.
Here are the latest developments of interest to advisors:
1) AdvisorShares Launches Gold/Currency ETFs
AdvisorShares has announced the launch of four gold/currency exchange-traded funds: AdvisorShares Gartman Gold/Euro ETF (GEUR), AdvisorShares Gartman Gold/British Pound ETF (GGBP), AdvisorShares Gartman Gold/Yen ETF (GYEN) and AdvisorShares International Gold ETF (GLDE). Each provides gold exposure in different currency terms through a ’40 Act structure. The ETFs are subadvised by Treesdale Partners.
The ETFs seek to provide positive returns by utilizing their respective currencies to invest in the gold market. While GEUR, GGBP and GYEN invest in gold via the euro, pound and yen, GLDE invests in exchange-traded products (ETPs) that provide diversified exposure to the international gold market. The four gold ETFs are not expected be subject to unrelated business taxable income (UBTI) and schedule K-1s, which are typically present in commodity-linked investments.
2) Nationwide Financial, Annexus Partner for Fixed Indexed Annuity