First Trust Launches More ETFs
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Tuesday, August 14, 2012

First Trust Launches More ETFs

Today, First Trust [profile] rang the opening bell at the NASDAQ exchange and celebrated the launch of its Multi-Asset Diversified Income Index Fund and the NASDAQ Technology Dividend Index Fund.

Before the ringing of the bell, MFWire spoke with Ryan Issakainen, senior vice president and ETF strategist at First Trust. Issakainen told MFWire that, in a sense, these two funds are at different ends of a spectrum. One fund focuses on a single sector while the other invests in a variety of assets.

The Multi-Asset Diversified Income Index Fund was designed to provide exposure to a diversified expanse of asset classes and corresponds with the NASDAQ Multi-Asset Diversified Income Index. The index consists of MLPs, preferred securities, REITs, high-yield debt and dividend-paying stocks.

The NASDAQ Technology Dividend Index Fund focuses on the technology sector, where there has been rapid dividend growth over the last five to seven years. The fund strives to provide targeted exposure to technology dividends in a convenient way.

In the light of the closure of many ETFs, such as FocusShares' liquidating their entire ETF line, Issakainen told MFwire that "First Trust never closed any ETFs" and that "there is a lot of criteria to think through" when deciding to launch an ETF.

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