In Practice February 10, 2011

CPI Opens Phoenix Office

CPI Qualified Plan Consultants announced that Matthew K. Scott will serve as the first retirement plan consultant in the Phoenix, Arizona office.
Reported by

As Retirement Plan Consultant for Arizona and the Las Vegas/Henderson area of Nevada, Scott will represent CPI with retirement plan sponsors and their financial advisers as they design and develop their qualified and non-qualified retirement plan programs, the company announced.

Scott brings to CPI more than 35 years of expertise in the retirement and financial services industries, having worked with large banks, mutual fund and insurance companies, as well as independent broker-dealers and third-party administrators. Most recently he served as senior vice president of retirement plans for a mutual fund company.   

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Scott received his Bachelor of Science degree from Frostburg State University in Frostburg, Maryland.  

Products February 10, 2011

ProShares Launches TIPS ETF

ProShares, a provider of alternative exchange-traded funds (ETFs), has launched what it says is the first ETF that provides inverse exposure to U.S. Treasury Inflation-Protected Securities (TIPS).
Reported by

The ProShares UltraShort TIPS (NYSEArca: TPS) seeks to provide -2x of the daily return of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L), before fees, expenses and interest income. The ETF lists on NYSE Arca as of Thursday.

“Our new fund, the first inverse TIPS ETF, is a new tool for investors considering hedging against or seeking to benefit from declines in TIPS prices,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment adviser, in a news release.

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