Products October 25, 2011

Blue Diamond to Offer Solo 401(k)

Blue Diamond Documents, a provider of self-directed IRA accounts, is introducing a Solo 401(k) plan for small-business owners. 
Reported by

Also known as “individual Ks,” Solo 401(k)s were created for business owners that have no employees, such as sole proprietors or partners who have no common law employees.

Blue Diamond explained that for 2011, small-business owners can contribute either pre-tax or Roth employee deferral contributions of up to $16,500. Individuals age 50 or older can make an additional $5,500 catch-up contribution. The combined employer and employee contributions cannot exceed $49,000 ($54,500 for individuals using the $5,500 age related catch-up contribution).

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For more information, visit http://www.checkbookiraprep.com.

Products October 25, 2011

Invesco Launches ETFs Based on KBW Indexes

Invesco PowerShares Capital Management has expanded its partnership with Keefe, Bruyette & Woods, Inc. (KBW) to become the exclusive licensee of four KBW indexes. 
Reported by

The four KBW indexes include:

•  The PowerShares KBW Bank Portfolio (KBWB) is based on the KBW Bank Index. The fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as banks or thrifts that are publicly-traded in the U.S.

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•  The PowerShares KBW Regional Banking Portfolio (KBWR) is based on the KBW Regional Banking Index. The fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is an equal weighted float-adjusted market capitalization index that seeks to reflect the performance of publicly traded companies that do business as regional banks or thrifts listed on U.S. stock markets.

•  The PowerShares KBW Capital Markets Portfolio (KBWC) is based on the KBW Capital Markets Index. The fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as broker-dealers, asset managers, trust and custody banks or exchanges that are publicly traded.

•  The PowerShares KBW Insurance Portfolio (KBWI) is based on the KBW Insurance Index. The fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies in the insurance industry that are publicly traded in the U.S.

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