New products and changes introduced over the last week include a gold ETF from ALPS, two ETFs listed on NASDAQ, two fixed index annuities from Forethought, and a fixed index annuity and changes to a variable annuity by Sammons Retirement Solutions.
In addition, Aequitas Capital started an RIA membership network; and the Saudi Arabian market pened to foreign investors.
Here are the latest developments of interest to advisors:
1) ALPS Announces Sprott Gold Miners ETF
ALPS has announced the launch of the Sprott Gold Miners ETF (SGDM), a fund designed to deliver exposure to the Sprott Zacks Gold Miners Index (ZAXSGDM), which uses a transparent, rules-based methodology designed to identify 25 gold stocks that historically have the highest beta to the spot price of gold, with each stock's weighting in the index adjusted based on its quarterly revenue growth and long-term debt to equity. The stock selection and index weighting criteria were co-developed by Sprott Asset Management.
As a principal investment strategy, SGDM will normally invest at least 90% of its net assets in component securities that comprise the Sprott Zacks Gold Miners Index. The Index is rebalanced on a quarterly basis to incorporate the latest financial data into the screening process.
2) NASDAQ Lists Two ETFs
NASDAQ OMX has announced the listing of two ETFs: the First Trust Enhanced Short Maturity ETF (FTSM) and the Compass EMP U.S. Discovery 500 Enhanced Volatility Weighted Index (CSF).
FTSM is actively managed and seeks to provide current income, consistent with preservation of capital and daily liquidity. Its strategy invests in short-duration securities that are primarily U.S. dollar-denominated investment-grade securities. The fund will be invested across a broad range of asset classes to maintain diversification and at least 80% of the fund's assets will be investment-grade securities. FTSM seeks to achieve its objectives by strategically laddering highly liquid investments over the near-term horizon. As market conditions change, the portfolio managers have the flexibility to strategically rotate among various market sectors while maintaining a focus on preservation of capital and liquidity.
CSF is designed to track the performance of the CEMP U.S. Small Cap 500 Long/Cash Volatility Weighted Index, before expenses. The fund will track the CEMP Smart Beta Index and will combine Smart Beta methodologies with the ability to move cash in the event of a market decline. The CEMP U.S. Small Cap 500 Long/Cash Volatility Weighted Index is based on the daily price of the CEMP U.S. Small Cap 500 Volatility Weighted Index. The index represents the broad U.S. small cap stock market, and is designed to hedge downside risk potential.
3) Forethought Launches Two FIAs for Broker-Dealer Distribution
Forethought Life Insurance Company has announced the launch of two fixed index annuities designed for broker-dealer distribution.
The first, ForeAccumulation, is designed for clients seeking savings potential and protection, while the second, ForeIncome, offers a guaranteed lifetime income stream for retirement.
