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Top Portfolio Products: Direxion, SSGA & Van Eck Add ETFs

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New products and changes introduced over the last week include a corporate-spinoff ETF from Van Eck Global; a green bond from Morgan Stanley; an ETF from SSGA; and two ETFs from Direxion.

Also, Morningstar gave a five-star rating to one of 361 Capital’s funds; Franklin Templeton added a retirement target fund; Nationwide added an index option to its fixed indexed annuities; and MassMutual added an employee benefits guidance tool.

Here are the latest developments of interest to advisors:

1) Van Eck Global Launches ETF

Van Eck Global has announced the launch of the Market Vectors Global Spin-Off ETF (SPUN), an ETF that seeks to benefit from the long-term potential of corporate spinoffs to unlock shareholder value.

SPUN seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Horizon Kinetics Global Spin-Off Index. As of May 31, the index contained 87 components, with 69% allocated to U.S. companies, 21% to Western European companies, and 10% to Asian companies.

2) Morgan Stanley Adds Green Bond

Morgan Stanley has announced its inaugural $500 million green bond. Funds connected with the offering will be used to further initiatives dedicated to external sustainable investments focused on energy efficiency and on renewable energy projects involving wind energy.

The green bond has received a comprehensive review from an independent certification expert in renewables and energy efficiency, and an independent accountant will report with respect to stated disbursements. Project updates and impact-focused reporting for this issuance will be made available on a dedicated website.

3) SSGA Launches ETF

State Street Global Advisors has announced the addition of the SPDR EURO STOXX 50 Currency Hedged ETF (HFEZ), which provides investors with an opportunity to benefit from the growth potential of large-cap eurozone stocks while seeking to minimize exposure to fluctuations in the euro-to-U.S.-dollar exchange rate.

HFEZ seeks to track the performance of the EURO STOXX 50 Hedged USD Index. The index was developed for investors seeking exposure to the EURO STOXX 50 Index, which includes 50 liquid eurozone stocks from 12 countries, while looking to reduce the risk of currency fluctuations.

4) Direxion Adds Two ETFs

Direxion has announced the addition of two leveraged ETFs, the Daily MSCI Europe Currency Hedged Bull 2X Shares (HEGE) and the Direxion Daily MSCI Japan Currency Hedged Bull 2X Shares (HEGJ).

HEGE seeks to achieve 200% of the daily performance of the MSCI Europe U.S. Dollar Hedged Index. The index represents a close estimation of the performance that can be achieved by hedging the currency exposures of its parent index, the MSCI Europe Index, to the U.S. dollar, the “home” currency for the hedged index.

HEGJ seeks to achieve 200% of the daily performance of the MSCI Japan U.S. Dollar Hedged Index. The index represents a close estimation of the performance that can be achieved by hedging the currency exposures of its parent index, the MSCI Japan Index, to the U.S. dollar, the “home” currency for the hedged index.

5) 361 Capital Fund Gets Five-Star Rating

Morningstar awarded a five-star rating to 361 Capital’s 361 Managed Futures Strategy Fund (I Share Class) as of May 31, 2015. The counter-trend strategy fund, one of 91 managed futures funds in the Morningstar category, follows a model designed to perform in volatile markets, regardless of direction, by taking advantage of market ‘noise.’

(361 Capital’s CIO, Cliff Stanton, is a regular columnist for Investment Advisor magazine.)

6) Franklin Templeton Adds Retirement Target Fund

Franklin Templeton Investments has announced the addition of the Franklin LifeSmart 2055 Retirement Target Fund, aimed at millennial investors planning to retire in or near the year 2055.

The fund’s assets are allocated among the broad asset classes of equity, fixed-income and alternative investments by investing predominantly in other Franklin Templeton mutual funds, based on each underlying fund’s predominant asset class and strategy.

7) Nationwide Adds Index Option to FIAs

Nationwide has announced the addition of the J.P. Morgan MOZAIC Index as an asset allocation strategy to its NewHeights fixed indexed annuities.

J.P. Morgan MOZAIC is a multi-asset index designed to create consistent returns based on a combination of broad diversification, positive momentum and volatility smoothing. The index rebalances a diverse range of asset classes and geographic regions each month to create positive returns with low volatility.

8) MassMutual Launches Employee Benefits Guidance Tool

MassMutual has launched an employee benefits guidance tool, MapMyBenefits, that analyzes basic information provided by the employee about income and expenses, current insurance coverage and retirement savings both inside and outside the workplace. Employer-provided benefits information is preloaded into the tool’s data bank.

The tool then provides the employee with a customized needs analysis and recommendations based on the information about his or her personal situation, and makes recommendations about individual coverage and savings needs.

Read the June 7 Portfolio Products Roundup at ThinkAdvisor.


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