Products August 23, 2010

Van Eck to Announce India Small-Cap ETF

Van Eck Global has scheduled the August 25, 2010, announced launch of its Market Vectors India Small-Cap Index ETF (SCIF). 

Reported by

A news release said Van Eck believes that small cap stocks can often provide the best exposure to a country’s domestic growth dynamics.

SCIF is the second ETF on the market to focus on India’s small-cap market. As of June 30, 2010, SCIF offered a large constituent base with 122 holdings and provided exposure to growth opportunities of smaller-cap companies as it has a low average market capitalization of $456 million.

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In addition, its underlying index makes constituents and their weights publically available daily at no cost and requires constituents to meet minimum liquidity levels in order to be considered for inclusion in the underlying index.

SCIF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors India Small-Cap Index (MVSCIFTR), which uses a float-adjusted modified market capitalization-weighting methodology.

Index constituents must have a market cap of at least $150 million, a three-month average daily trading volume value of at least $1 million, and minimum trading volume of 250,000 shares each month over the last six months on a rebalancing date.

More information is at http://vaneck.com/page_mv.aspx?Group=ETF.

 

Deals & People August 23, 2010

Wilmington Trust Names Baldwin Moody to Risk Management Role

Wilmington Tryst has hired Carol Baldwin Moody as senior vice president and chief risk officer to head a newly centralized Enterprise Risk Management Division.
Reported by

A news release said Baldwin Moody, an attorney and 25-year financial services industry veteran, has extensive U.S. and international experience in legal, compliance, and risk management in the banking, insurance, pension, private equity, and mutual fund sectors.

At Wilmington Trust, Baldwin Moody leads the direction and execution of all aspects of risk management, including credit, legal, compliance, fiduciary, financial, operational, reputational, strategic, technology, fraud, human resources, and business-continuity risk.

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She reports to Donald E. Foley, Wilmington Trust’s chairman and CEO and works with the company’s general counsel, Michael A. DiGregorio, and the Board of Directors’ Risk Management Committee. The Risk Management Committee, which is chaired by lead director Louis J. Freeh, oversees her efforts and will conduct her performance reviews.

Baldwin Moody joined Wilmington Trust from Nationwide Insurance, where she was senior vice president and chief compliance officer. In that role, she led a centralized team of professionals who worked to ensure regulatory compliance and the alignment of all risk management activities throughout the company.  Prior to Nationwide, Baldwin Moody was chief compliance officer for TIAA-CREF, where the scope of her responsibilities included compliance management of the organization’s mutual fund complex and investment advisers.

Baldwin Moody holds a bachelor’s degree in finance from the Wharton School of the University of Pennsylvania and a juris doctor (J.D.) degree from Columbia Law School.

 

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