Products May 19, 2009

BNY Mellon Unveils American Depository Receipts Index

The Bank of New York Mellon launched The Bank of New York Mellon Classic ADR Index and 34 subindexes, including two market, three regional, 10 sector and 19 country indexes, the bank announced.
Reported by

The Bank of New York Mellon Classic ADR Index comprises all American depositary receipts (ADR), New York Shares, and Global Registered Shares that trade on the New York Stock Exchange, NYSE Alternext US, NASDAQ, and over-the-counter (OTC), according to a news release.

All indexes are calculated on a continuous basis throughout the trading day, are capitalization-weighted and adjusted for free-float, using Dow Jones’ current methodology.

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

“Institutional and retail investors alike can no longer ignore this segment of the ADR universe, thanks to the recent U.S. SEC rule amendment regarding unsponsored American depositary receipts and the fact that more than $1 billion of these new programs have been issued since October 2008,” said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon’s Depositary Receipt Division, in the release.

According to the bank, the Classic ADR Index expands the investable constituents of the Bank of New York Mellon ADR Index.

 

More information is available at www.bnymellondrindex.com.

 

Deals & People May 19, 2009

Oppenheimer Names Main Street Funds Team

OppenheimerFunds, Inc., announced that Manind ('Mani') Govil was named team leader and portfolio manager of the Main Street equity team.
Reported by

Govil will be joined by several colleagues consisting of portfolio managers, fundamental analysts, and a trader from his previous employer, RS Investment Management Co. LLC, according to a news release. The new 12-person team will work with the Oppenheimer Main Street Fund, Oppenheimer Main Street Opportunity Fund, and Oppenheimer Main Street Small-Cap Fund, as well as their related accounts.

Joining Govil, according to the news release, are:

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

  • Benjamin Ram, who will co-manage Oppenheimer Main Street Fund;
  • Anthony Gennaro, who will co-manage Oppenheimer Main Street Opportunity Fund;
  • Matthew Ziehl, who will be lead portfolio manager of Oppenheimer Main Street Small-Cap Fund;
  • Raman Vardharaj, who will co-manage Oppenheimer Main Street Small-Cap Fund.
  • In their previous roles, Ram and Gennaro managed institutional mid-cap strategies; Ziehl managed the RS Small Cap Core Fund; and Vardharaj led the team’s quantitative analysis efforts.

«