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April 25, 2016 at 08:20 PM
New products and changes introduced over the last week include ETFs focused on social media, large-cap stocks, Catholic values and consumer retail shares. In addition, Catalyst Funds converted a hedge fund to a mutual fund, Morningstar Office added Redtail functionality, Wilshire launched a wealth management platform and other new developments of interest to advisors were announced.
Here are the latest ones:
1) Sprott Launches Social Media Insights ETF
Sprott Asset Management LP launched the Sprott BUZZ Social Media Insights ETF (BUZ), designed to deliver exposure to the BUZZ Social Media Insights Index.
The BUZZ Index seeks to identify attractive U.S. stocks that rank highest in terms of bullish investor perception from insights derived from the social media collective. Each month, the BUZZ Index identifies the 100 most-mentioned stocks and ranks them using a proprietary analytics model; the 25 stocks with the most bullish insight scores are then selected for inclusion in the index.
2) Guggenheim Adds Large-Cap ETF
Guggenheim Investments launched the Guggenheim Large Cap Optimized Diversification ETF (OPD), which tracks the Wilshire Large Cap Optimized Diversification Index that is designed to provide optimized diversification in the U.S. large-cap equity market.
Subject to sector and stock level constraints, the index’s methodology selects stocks that tend to have lower correlation to the cap-weighted Wilshire Large Cap Index and weights them by correlation and risk to optimize diversification. The ETF’s underlying index is rebalanced quarterly.
3) Global X Adds Catholic Values ETF
Global X Funds added the Global X S&P 500 Catholic Values Index ETF (CATH), which includes S&P 500 companies whose business practices adhere to the Socially Responsible Investment Guidelines outlined by the United States Conference of Catholic Bishops and excludes those that do not.
4) Magoon Adds Online Retail/Consumer Discretionary ETF
Christian Magoon launched the Amplify Online Retail ETF (IBUY), which seeks to replicate the price and yield performance of the EQM Online Retail Index (IBUYXT). The rules-based index is made up of a diverse group of companies that generate at least 70% of their revenue from online and virtual retail sales.
IBUY tracks a global index of companies that generate at least 70% of their revenue from online retail transactions that fall into three categories: traditional online retail; online travel; and online marketplace. Index constituents are diversified across various market capitalizations, countries and industries. The index has a maximum of 25% exposure to non-U.S. stocks and uses a modified equal weighting methodology.
5) Catalyst Funds Converts Hedge Fund to Mutual Fund
Catalyst Funds converted a hedge fund to a mutual fund. The Catalyst/Millburn Hedge Strategy Fund (MBXIX) portfolio is comprised of two distinct components: active long/short futures and FX, and strategic equity exposure.
MBXIX trades a portfolio of global equity, currency and interest rate instruments, as well as futures contracts on commodities in the energy, metal and agricultural sectors. It uses a 100% systematic strategy and has the potential to invest in over 125 markets. MBXIX is subadvised by Millburn Ridgefield and maintains the same investment management team as its hedge fund predecessor.
6) Morningstar Office Adds Redtail Functionality
Morningstar Inc. announced the addition of Redtail Technology’s customer relationship management (CRM) capabilities into Morningstar Office.
