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September 19, 2016 at 06:15 AM
New products and changes introduced over the last week include three technology ETFs from Global X Funds; a bond ETF from Nuveen; and Financial Engines expanded its services;
Also, Cavalier Investments named interim subadvisors for its suite of mutual funds; BMO Global Asset Management launched a podcast series; and Gemini Alt and IASG Alternatives announced a technology integration.
Here are the latest developments of interest to advisors:
1) Global X Launches 3 Tech ETFs
Global X Funds launched the Global X FinTech Thematic ETF (FINX), the Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ) and the Global X Internet of Things Thematic ETF (SNSR). Each has an expense ratio of 0.68%.
FINX invests in companies on the leading edge of the emerging financial technology industry, which encompasses a range of innovations helping to transform established businesses like insurance, investing, fundraising and third-party lending through mobile and digital solutions.
BOTZ provides exposure to stocks involved in the adoption and utilization of robotics and artificial intelligence (AI), including those involved with industrial manufacturing, medicine, autonomous vehicles, and other applications.
SNSR offers exposure to companies that stand to potentially benefit from the broader adoption of the Internet of Things. This includes the development and manufacturing of semiconductors and sensors, integrated products and solutions, and applications serving smart grids, smart homes, connected cars, and the industrial Internet.
2) Nuveen Adds Bond ETF
Nuveen launched the NuShares Enhanced Yield U.S. Aggregate Bond ETF (NUAG), which seeks enhanced yield relative to the broad investment-grade fixed income market with comparable risk and credit quality.
NUAG tracks the investment results, before fees and expenses, of the BofA Merrill Lynch Enhanced Yield US Broad Bond Index, a rules-based index designed to enhance income potential while maintaining risk and credit quality at levels similar to that of the BofA Merrill Lynch US Broad Market Index. It has a net expense ratio of 0.20%.
3) Financial Engines Expands Services
Financial Engines has expanded its services, adding local Financial Engines advisors across the country, launching a new brand identity on its redesigned website and rebranding the more than 120 Mutual Fund Store locations as Financial Engines Advisor Centers.
(Related on ThinkAdvisor: America’s Biggest 401(k) Advisor Has a Plan to Manage All of Your Money)
