Products July 13, 2011

IndexIQ Releases Emerging Markets Mid Cap ETF

The IQ Emerging Markets Mid Cap Exchange-Traded Fund (ETF) was designed to allow investors to isolate pure-play Emerging Market mid-cap exposure. 
Reported by

IndexIQ launched the fund, ticker symbol EMER, on the NYSE Arca platform; the fund has an expense ratio of 0.75%. According to the company, EMER is the first ETF dedicated to providing access to mid-cap Emerging Markets equities, and will do so via a “pure play” approach. This means that all of the equities included in the fund’s underlying index will be listed on an exchange in a less developed market in the Americas, Europe, Asia, Africa, and the Middle East. 

The fund will be diversified across both Emerging Market countries and industry sectors. As of May 31, 2011, its underlying index included exposures to Consumer Discretionary (18.69%), Financials (18.10%), Industrials (15.88%), Materials (13.28%), and Technology (9.15%). 

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According to IndexIQ, EMER seeks to replicate, before fees and expenses, the performance of the IQ Emerging Markets Mid Cap Index (IQMDEMG), a float-adjusted market-cap-weighted index that is intended to track the overall performance of the mid-capitalization sector of publicly traded companies domiciled and primarily listed on an exchange in the Emerging Markets. EMER is intended to provide pure-play exposure to this sector either as a stand-alone vehicle or used in combination with large- and small-cap Emerging Market offerings to create a broad-based portfolio. 

“Just as it is important for investors to diversify across capitalization spectrum in their domestic portfolios, the same holds true for investors allocating to emerging markets,” said Adam Patti, CEO of IndexIQ. “This first-of-its-kind product [will] allow investors to access the growth potential of the Emerging Market mid-cap sector in a highly-liquid, highly transparent way.”

Deals & People July 13, 2011

Sawyer to Lead BAML DC Product Management

Dee Sawyer has been appointed Head of Defined Contribution (DC) Product Management at Bank of America Merrill Lynch. 
Reported by

Effective August 8, Sawyer will be responsible for the strategy, development, pricing and implementation of DC products and services, reporting to Steve Ulian, Head of Institutional Retirement & Benefit Solutions at the firm.   

Sawyer joined the organization in October 2010 as Director of Channel Strategy and Development for Business Retirement Solutions. Since then, according to an internal announcement, she has successfully led the development and execution of go-to-market strategy across the firm’s Advisor Alliance, SEP, Simple, Basic, Investment Link and RCMA Investment Only Account offerings. Prior to Bank of America Merrill Lynch, she held several senior product management, client management and marketing roles during her 15-year tenure at Fidelity Investments, including senior positions within their 401(k) business.  

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The announcement from Ulian notes that Rich Linton, head of Business Retirement Solutions, will soon begin reviewing candidates to fill Sawyer’s current role.  Ulian also thanked Gary DeMaio who assumed interim leadership of the DC Product Management group in February of this year.  “Gary has done a tremendous job leading the organization during this time, and will continue to be a key senior member of the DC product team,” according to the announcement. 

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