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Editor's Note: As of the start of 2012, ETF Watch has transitioned to daily updates, rather than weekly.
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THURSDAY, JUNE 14
Renaissance Seeks Entry To ETF Arena
In a recent filing, Renaissance Capital requested the exemptive relief necessary for launching ETFs. The firm, known for its IPO research, wants to offer ETFs covering domestic and international equities and bonds. Renaissance also said that it wanted launch funds tracking its own indexes. The initial ETF described in the filing will track the U.S. IPO market.
WEDNESDAY, JUNE 13
ProShares Requests Active ETF Exemption
ProShares recently filed paperwork with the SEC requesting permission to launch actively managed ETFs. The initial fund described in the filing would cover emerging market debt, but the exemptive relief request covers stocks, bonds and currencies. The filing also specifically noted that the funds covered by the filing would not use derivatives such as futures or options contracts.
TUESDAY, JUNE 12
Franklin Templeton Files For ETF Exemptive Relief
Mutual fund provider Franklin Templeton recently filed paperwork with the SEC requesting the exemptive relief necessary to launch actively managed ETFs. The filing outlines plans to launch a fund that invests in short-term U.S. government debt as its initial ETF, but it also included funds targeting equities, fixed income and currencies in the relief request.
ETC Launches 'Oil Sands' ETF
Exchange Traded Concepts, a firm that specializes in enabling third parties to launch ETFs using its own exemptive relief, recently brought to market a fund focused on the equities of companies involved in all aspects of the production of oil from "oil sands." The Sustainable North American Oil Sands ETF (NYSEArca: SNDS) comes with an expense ratio of 0.50 percent and tracks an index provided by Sustainable Wealth Management.
MONDAY, JUNE 11
UBS Rolls Out 2X Russell 1000 Growth ETN
UBS added to its lineup of ETNs with a product that offers double exposure to the Russell 1000 Growth Index. The UBS AG FI Enhanced Big Cap Growth ETN (NYSEArca: FBG) is not part of UBS' Etracs family and comes with a fairly complex expense structure that is based partly on assets under management and partly on Libor.
8 Direxion ETFs To Change Indexes
Direxion is changing the indexes on eight of its ETFs, effective June 29. The eight funds will change over to S&P indexes from Russell indexes. Six of the changes will also include ticker changes. The affected funds and their current tickers include:
- Direxion Daily Large Cap Bull 3X Shares (NYSE Arca: BGU)
- Direxion Daily Large Cap Bear 3X Shares (NYSE Arca: BGZ)
- Direxion Daily Mid Cap Bull 3X Shares (NYSE Arca: MWJ)
- Direxion Daily Mid Cap Bear 3X Shares (NYSE Arca: MWN)
- Direxion Daily Technology Bull 3X Shares (NYSE Arca: TYH)
- Direxion Daily Technology Bear 3X Shares (NYSE Arca: TYP)
- Direxion Daily Energy 3X Bull Shares (NYSE Arca: ERX)
- Direxion Daily Energy 3X Bear Shares (NYSE Arca: ERY)