MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Thursday, July 13, 2017 New Fund Fuss - July 13, 2017 Company: OppenheimerFunds, Inc. New Funds: Oppenheimer Emerging Markets Revenue ETF (REEM), Oppenheimer Global Revenue ETF (RGLB), and Oppenheimer International Revenue ETF (REFA) On July 13, Oppenheimer launched three new funds in order to expand their Beta Solutions product offering. Their Emerging Markets Revenue ETF is designed to outperform the MSCI Emerging Markets Index with an expense ratio of 46 basis points; their Global Revenue ETF is designed to out perform the MSCI All Country World Index with an expense ratio of 43 basis points; and their International Revenue ETF is designed to outperform the MSCI EAFE Index with an expense ratio of 42 basis points. Company: SportsETFs, LLC New Fund: ProSports Sponsors ETF On July 11, SportsETFs launched the ProSports Sponsors ETF that is trading under the ticker symbol FANZ. The fund tracks the ProSports Sponsors Index which is an index that tracks the performance of the official corporate sponsors of the major professional American sports leagues. This fund is designed to take advantage of growth opportunities of companies that partner with professional sports leagues by investing across several sectors. ***
Company: Direxion Funds New Fund: Direxion Daily EURO STOXX 50® Bull 3X Shares Fund On July 12, Direxion launched the Direxion Daily EURO STOXX 50 Bull 3X Shares Fund designed to achieve 300 percent of the daily performance of the EURO STOXX 50 Index which covers 50 blue-chip stocks from 11 Eurozone countries. ***
Company: Deutsche Asset Management, Global X Funds, Guggenheim Investments, IndexIQ, John Hancock Investments, J.P. Morgan Asset Management, State Street SPDR ETFs, WisdomTree, and USCF, Fund Moves: Added More Funds onto Schwab's OneSource Platform On July 6, nine ETF shops added ETFs to Schwabs' OneSource platform which are now available to Schwab clients with $0 online trade commissions, no enrollment requirements, and no early redemption fees. With these additions, the Schwabs' NTF ETF platform now has 245 ETFs covering 69 different Morningstar categories. ***
Company:John Hancock Investments Fees: Fund Expense Reduction On July 10, John Hancock reduced expense ratios for six of their mutual funds as well as two of their closed-end funds. The reductions go up to around 20 basis points or 17 percent per fund. The reductions are a direct result from management fee cuts, contractual expense caps, new breakpoints, and John Hancocks' growing economies of scale. The funds and their reductions (in basis points) are listed below: Open-ended Mutual Fund Reductions
Closed-end Mutual Fund Reductions
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Company: IndexIQ Advisors LLC Fees: Fund Expense Reduction On July 12, IndexIQ reduced its total expense ratio for its suite of currency ETFs that hedge 50 percent against international equities. The reduction in fees is a result of the ETFs achieving their designed goals since their 2015 launch as well as an attempt to make the funds more cost-efficient so they can be better positioned for future growth in an ever changing market. The following funds and their reductions are listed below:
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To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings or new hires, check out our latest Filings For Fundsters and Follow the Fundsters columns, respectively. For job opportunities in the industry, explore our The Next Gig column. If you have a fund filing that you would like to point out, a mutual fund launch, product change or new hire that you would like to announce, please contact the MFWire team at editors@investmentwires.com. Printed from: MFWire.com/story.asp?s=56643 Copyright 2017, InvestmentWires, Inc. All Rights Reserved |