Products July 26, 2010

Van Eck Launches Emerging Markets Local Currency Bond ETF

Asset manager Van Eck Global has launched a U.S.-listed exchange-traded fund (ETF) designed to provide investors with exposure to an index that tracks a basket of bonds issued in local currencies by emerging market governments.
Reported by

Market Vectors Emerging Markets Local Currency Bond ETF (NYSE Arca: EMLC) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of J.P. Morgan Government Bond Index-Emerging Markets Global Core Index (ticker: GBIEMCOR), according to a press release. The fund has a gross expense ratio of 0.60% and net expense ratio of 0.49%.   

GBIEMCOR currently has 171 constituents with maturities ranging from one to 30 years, and an average yield-to-maturity of 6.8% as of July 1, 2010. The Index currently tracks a selection of bonds issued in local currencies by thirteen emerging market countries representing Latin America, Eastern Europe, Africa, and Asia: Brazil, Colombia, Egypt, Hungary, Indonesia, Malaysia, Mexico, Peru, Poland, Russia, South Africa, Thailand, and Turkey.   

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GBIEMCOR is market-cap weighted, with individual country exposures capped at 10% to provide more diversification among countries within the index. As of July 1, 2010 six countries met the 10% threshold, including Brazil, Malaysia, Mexico, Poland, South Africa and Thailand. Index rebalancing occurs monthly.   

More information is at http://www.vaneck.com.
Products July 26, 2010

Genworth New Hire to Help Advisers with Succession Planning

Genworth Financial Wealth Management (GFWM), a subsidiary of Genworth Financial, Inc., has hired Matthew Matrisian to build a suite of succession planning tools, resources and services for advisers.
Reported by

Matrisian is GFWM’s new vice president and director of practice management. Through GFWM’s Mastery Program and other practice management offerings, he will lead a team dedicated to educating financial advisers on the importance of transferability; that is, the ability for the business to thrive once the lead adviser retires.  

According to a press release, Matrisian brings more than 15 years of experience assisting advisers in developing acquisition strategies, managing the mergers and acquisitions process, firm valuation, buy/sell side representation, succession planning support, consulting on practice management issues, and developing sustainable growth strategies.   

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He holds a Bachelor of Arts degree in Finance from the University of South Florida and a Masters of Business Administration from the University of Florida. 

Genworth said a recent study reveals that nearly half of today’s financial advisers plan to leave the industry in the next few years, and fewer young professionals are entering the profession each year, making succession planning a high priority for the industry. 

According to Genworth, the key to unlocking the challenge of transferability lies within three best practices: 

  • Outsourcing as many of the firm’s non-core competencies as possible, which frees valuable time for lead advisers to focus on financial problem solving, client relationship management and business development; 
  • Creating systems and procedures that consistently govern all aspects of the adviser’s business; and 
  • Evaluating financial models to maximize the value of advisers’ businesses. 

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