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September 19, 2014 at 10:52 AM
New products and news shared over the past week include a stock split ETF from USCF Advisers; a Euro Stoxx ETF from Source; a proposed global long/short equity fund from 361 Capital; and a fixed indexed universal life policy from Allianz Life.
Also, Schwab has added four Direxion ETFs to its commission-free trading platform; Beaumont Capital launched two new strategies on the AssetMark platform; CDM Retirement Consultants has added Envestnet’s fiduciary services solution; and DealVector launched its BWIC board.
Here are the latest developments of interest to advisors:
1) USCF Advisers Launches Stock Split ETF
USCF Advisers has announced the launch of the Stock Split Index Fund (TOFR). The group says the product aims to track the price and yield performance of the 2-for-1 Index, less fees and expenses.
The 2 for 1 Index contains approximately 30 companies that trade on major U.S. stock exchanges. Companies eligible for inclusion in the index have all announced a 2 for 1 (or higher) stock split within the 6 months prior to selection for the index. Each month, index is updated on the Friday closest to the 15th of that month.
The pool of eligible companies is evaluated and ranked according to a proprietary methodology, and the top ranked choice is selected for the index. One new stock is added, and the oldest stock is removed. All positions are then rebalanced to equal weight.
2) Source Launches Euro Stoxx ETF
Global investment firm Source has announced, together with its own launch within the U.S., the launch of the Source Euro Stoxx 50 ETF, its first investment product for the American market.
The EURO STOXX 50 Index is comprised of 50 of the largest companies domiciled in the eurozone and is the primary hedging tool used by global trading desks.
3) 361 Capital Files to Launch Global Long/Short Equity Fund
361 Capital announced that it has filed to launch the 361 Global Long/Short Equity Fund. Los Angeles-based Analytic Investors will subadvise the fund.
The fund will use the same investment strategy as the Analytic Global Long/Short Equity Portfolio, a separately managed account (SMA), which was launched in December 2009.
4) Schwab Adds Four Direxion ETFs to Commission-Free Trading Platform
Charles Schwab & Co. has added four Direxion Strategic Beta ETFs to Schwab ETF OneSource, its commission-free ETF trading platform.
The new additions are: Direxion Zacks MLP High Income Shares (ZMLP); Direxion All Cap Insider Sentiment Shares (KNOW); Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE); and Direxion S&P 500 Index Volatility Response Shares (VSPY).
