The Markets May 5, 2011

Citi Adds SRI Options to SecLending Program

Citi added socially responsible investment (SRI) solutions to its securities lending cash collateral investment program.
Reported by

Securities lending clients will now be able to invest cash collateral under SRI principles that consider environment, social, and governance (ESG) factors. Citi’s solution was developed in partnership with Sustainalytics and enables SRI clients to apply customized multi-dimensional ESG screens to create a universe of eligible securities for investment by the collateral management team.       

The offering is available to securities lenders through OpenLend, a boutique service to enhance portfolio performance by delivering an open architecture that provides access to Agency, Third-Party, Hybrid and Exclusives.

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Products May 5, 2011

IndexIQ Launches Small Cap Oil ETF

IndexIQ has introduced the IQ Global Oil Small Cap ETF (NYSE Arca: IOIL).
Reported by

The firm says IOIL is the first global small-cap exchange-traded fund (ETF) designed to provide pure play exposure to companies that are primarily engaged in the oil industry. This includes firms involved in exploration and production (E&P); refining and marketing; and equipment, services and drilling.   

The fund seeks to track, before fees and expenses, the performance of the IQ Global Oil Small Cap Index (Bloomberg Index Ticker IQSMOIL).  

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To be included in the index, companies must have a minimum average market capitalization of $150 million for the prior 90-day period. Stocks are required to have a minimum average daily trading volume of at least $1 million for the prior 90 days, and a minimum monthly volume of 250,000 shares for the prior six months. The Index’s components and their respective weights are rebalanced quarterly.  

As of April 11, 2011, the index had sector allocations in refining & marketing (40.46%), exploration & production (36.90%) and equipment & services (22.64%); while the top three countries were the United States (45.08%), Canada (11.67%) and Thailand (7.46%).

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