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June 01, 2015 at 01:04 AM
New products and changes introduced over the last week include a REIT tracker series from NAREIT; an ETF from Elkhorn Investments; an ETF from Global X; and four ETFs from Direxion.
Also, Assured SKCG and CIGNA Health Plans introduced a PEO platform for the hedge fund industry; Forethought added a variable annuity; Fox Financial Planning Network added a training program; and FJC Partners has launched a Web-based application for running hedge fund operations.
Here are the latest developments of interest to advisors:
1) Global X Funds Launches ETF
Global X Funds has announced the launch of the Global X YieldCo Index ETF (YLCO).
YLCO seeks to provide investors with access to YieldCos, an emerging asset class of yield vehicles that are structured to deliver stable and growing dividend income derived from a portfolio of renewable energy assets.
2) Direxion Adds Four ETFs
Direxion Investments has announced the addition of four daily leveraged ETFs.
The Direxion Daily S&P Biotech Bull and Bear 3X Shares (LABU, LABD) seek to achieve 300%, or 300% of the inverse, of the daily performance of the S&P Biotechnology Select Industry Index.
The Direxion Daily S&P Oil & Gas Exploration & Production Bull and Bear 3X Shares (GUSH, DRIP) seek to achieve 300%, or 300% of the inverse, of the daily performance of the S&P Oil & Gas Exploration & Production (or E&P) Select Industry Index.
3) Elkhorn Investments Adds ETF
Elkhorn Investments, LLC has announced the addition of the Elkhorn S&P 500 Capital Expenditures ETF (CAPX).
CAPX seeks to track the performance of the S&P 500 Capex Efficiency Index, which is designed to provide exposure to the 100 constituents of the S&P 500 that have exhibited the strongest capital discipline, in the form of efficient capital expenditures, over the near term. The index focuses on capex efficiency, not just capex spending levels, providing exposure to stocks that have maximized sales per unit of capital expenditures.
4) NAREIT Adds REIT Tracker Series
The National Association of Real Estate Investment Trusts (NAREIT) has announced the launch of the Total REIT Industry Tracker Series (NAREIT T-Tracker), a quarterly composite performance measure of the U.S. stock exchange-listed REIT industry.
