Products October 12, 2011

Van Eck Rolls Out China-Focused ETF

Van Eck Global has launched Market Vectors Renminbi Bond ETF, which offers investors exposure to Chinese renminbi (RMB)-denominated bonds, often referred to as “dim sum” bonds.
Reported by

Market Vectors Renminbi Bond ETF (NYSE Arca: CHLC) seeks to track, before fees and expenses, the price and yield performance of the Market Vectors Renminbi Bond Index (ticker: MVCHLC), an index designed to track the performance of RMB-denominated investment-grade bonds or unrated bonds from investment grade issuers in and outside of China.  

“Given China’s recent rapid economic growth, a market consensus has developed that the country’s currency is undervalued,” said Adam Phillips, Managing Director of ETFs at Van Eck Global. “Yet investors have historically been somewhat limited in the ways by which they could get investment exposure to Chinese currency. CHLC will allow investors to gain exposure to high-quality RMB-denominated bonds, thereby providing the potential for investment income as well as currency appreciation, all through a transparent and cost efficient ETF.”   

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Van Eck Global notes that investing in RMB-denominated bonds is not without risks, including currency, credit, and concentration risk, as well as risks associated with greater market volatility. Investments in securities of non-U.S. issuers also involves risks such as a lack of availability of financial information, higher transactional and custody costs, taxation by foreign governments, and more.   

CHLC, Van Eck’s 37th Market Vectors ETF, has a gross expense ratio of 0.50% and a net expense ratio of 0.39%, which is capped until May 1, 2013. According to the announcement, CHLC has the lowest net expense ratio of any U.S.-listed “dim sum” bond ETF currently on the market.  

More information is available at http://www.vaneck.com.
Deals & People October 12, 2011

First Western Expands Retirement Consulting Services Team

First Western Trust Bank appointed Irene J. Antonio as a Relationship Manager in the firm’s Retirement Consulting Services team. 
Reported by

In this newly created position, Antonio will provide retirement plan consulting and investment advisory services to qualified retirement plan clients, which include plan sponsors, non-profit organizations, government entities, and individuals. Antonio reports to Paula Hendrickson, Director, Retirement Consulting Services at First Western.

Prior to joining First Western, Antonio was responsible for all financial aspects of Dex One Corporation’s qualified retirement plans and non-qualified employee benefit plans. She worked for Dex One and its predecessors for more than 25 years.

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Antonio is a member of the American Institute of Certified Public Accounts and Western Pension and Benefits Conference. She received a bachelor’s degree in accounting from Northern Illinois University and earned her CPA designation through the University of Illinois.

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