New products and changes introduced over the last week include filings for seven ETFs from AccuShares and a fixed-indexed annuity option from Fidelity Guaranty & Life.
In addition, WPG Advisory announced expansion of its practice to serve telecommunications investors and Bonaire announced the migration of its SaaS solution to the Broadridge hosting platform.
Here are the latest developments of interest to advisors:
1) AccuShares Files to Launch Seven ETFs
AccuShares Investment Management LLC, the sponsor of newly formed fund trust AccuShares Commodities Trust I, has announced that the trust has filed a registration statement with the SEC to issue shares of seven ETFs. Launch dates are yet to be determined. The ETFs are designed to provide exposure to various spot and spot proxy prices represented by each ETF’s underlying index. AccuShares intends to offer two classes of shares in each ETF, one for investors with a positive view of future index performance and one for investors with a negative view of future index performance.
The first ETF expected to be offered, the AccuShares Spot CBOE VIX Fund, is designed to provide exposure to the CBOE Volatility Index. The remaining ETFs are designed to provide commodity price exposures as measured by the S&P GSCI Spot and some of its subindices. The ETFs are: AccuShares S&P GSCI Spot Fund; AccuShares S&P GSCI Agriculture and Livestock Spot Fund; AccuShares S&P GSCI Industrial Metals Spot Fund; AccuShares S&P GSCI Crude Oil Spot Fund; AccuShares S&P GSCI Brent Oil Spot Fund; and the AccuShares S&P GSCI Natural Gas Spot Fund.
2) Fidelity & Guaranty Life Launches Uncapped FIA Index Option
Fidelity & Guaranty Life Insurance Co. has announced the launch of Performance Pro, an uncapped fixed indexed annuity (FIA) option. Performance Pro provides the potential for higher accumulation and/or income during retirement, offering a range of FIA interest crediting options. It also has a 10% vesting premium bonus (5% for ages 76 and older), a performance-driven income base, illustrated income, and enhanced income for impairment.