Products November 4, 2008

Direxion Enters ETF Market

Direxion announced its entrance into the exchange-traded fund (ETF) space with the Direxion Shares 3x ETFs, slated to begin trading November 5.
Reported by

The new ETFs are a group of leveraged bull and bear index funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses) of the Russell indexes they benchmark.

The new Direxion Shares ETFs are designed to give investment advisers and sophisticated investors the ability to execute active trading strategies in all types of markets, according to a release. The funds deliver increased market exposure via 3 to 1 leverage, long and short of their respective indexes, and afford investors the opportunity to effectively allocate capital to seek improved risk-adjusted returns.

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

The new Direxion Bull and Bear 3x ETFs include:

  • Direxion Large Cap Bull 3x Shares (BGU)
  • Direxion Small Cap Bull 3x Shares (TNA),
  • Direxion Energy Bull 3x Shares (ERX),
  • Direxion Financial Bull 3x Shares (FAS),
  • Direxion Large Cap Bear 3x Shares (BGZ),
  • Direxion Small Cap Bear 3x Shares (TZA),
  • Direxion Energy Bear 3x Shares (ERY), and
  • Direxion Financial Bear 3x Shares (FAZ).

For more information, contact Melinda Staab at 973.400.1341 or melinda@jcpublicrelations.com.

Products November 4, 2008

Dow Jones Adds 12 to Islamic Index

Dow Jones Indexes announced the addition of a dozen new countries to its Islamic Market World Index.
Reported by

According to the index provider, Bahrain, China, Egypt, India, Jordan, Kuwait, Morocco, Oman, Qatar, Sri Lanka, Turkey, and the United Arab Emirates will be added to the Dow Jones Islamic Market World Index and all of its sub-indexes, including the Dow Jones Islamic Market World Emerging Index and Dow Jones Islamic Market Asia/Pacific Index.

The additions will become effective as of the start of trading on December 22.

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

The addition of the 12 new countries to the Dow Jones Islamic Market World Index increases the total number of countries in the index to 54 from 42. All of the 12 countries will be added to the Dow Jones Islamic Market World Index and its respective size, sector, and regional indexes.

Emerging Markets

The Dow Jones Islamic Market World Emerging Index currently measures the performance of 19 emerging markets: Brazil, Bulgaria, Chile, Czech Republic, Estonia, Hungary, Indonesia, Lithuania, Malaysia, Malta, Mexico, Philippines, Poland, Romania, Slovenia, South Africa, South Korea, Taiwan, and Thailand.

The addition of the 12 new countries to the Dow Jones Islamic Market World Index increases the total number of countries in the index to 54 from 42. All of the 12 countries will be added to the Dow Jones Islamic Market World Index and its respective size, sector, and regional indexes.

Launched in 1999, the Dow Jones Islamic Market Indexes seek to measure the global universe of investable equities that pass screens for Shari’ah compliance. The Dow Jones Islamic Market Indexes combine Islamic investment principles with Dow Jones Indexes’ objective, transparent and rules-based methodology, according to the firm.

«