With more than 20 years of sales experience in financial
services, Davis will oversee the wholesaling activities of Guardian Retirement
Solutions and will report directly to Kurt Shallow, vice president of risk
products distribution.
Davis joins Guardian from The Hartford, serving most
recently as vice president, regional sales director, mid-market. Davis spent 20
years with ING/CitiStreet and Citigroup, where he held various sales positions,
including national sales director and national head of mid-market sales. He is
also a board member on the Defined Contribution Investment Council.
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Invesco
PowerShares Capital Management LLC announced the anticipated listing of the
PowerShares S&P 500 High Dividend Portfolio on October 18 on the NYSE Arca.
The new exchange-traded fund (ETF), based upon the S&P
Low Volatility High Dividend index, is expected to trade under the ticker SPHD
and will provide access to the 50 securities in the S&P 500 Index that
historically have provided high dividend yields with lower volatility.
“The PowerShares S&P 500 High Dividend Portfolio (SPHD)
combines two key objectives that are important to many investors today: an
emphasis on high dividend equities with the well-documented benefits of
low-volatility securities,” said Ben Fulton, Invesco PowerShares managing
director of global ETFs. “The fund’s underlying index is designed to perform
well in absolute terms and on a risk-adjusted basis compared to the S&P 500
Index, and had an average dividend yield of 4.51% as of September 30,
2012.”
The fund will generally invest at least 90% of its total
assets in securities that comprise the underlying index. The index is compiled,
maintained and calculated by S&P Dow Jones Indices and is designed to track
the performance of 50 securities selected from the S&P 500 Index that have
historically provided high dividend yields with lower volatility. The index
provider screens the S&P 500 Index for the 75 securities with the highest
dividend yields over the past 12 months and, from those securities, selects the
50 securities with the lowest realized volatility for inclusion in the
underlying index. The index provider weights each of the securities in the
index by its dividend yield, with the highest dividend-yielding stocks
receiving the highest weights. The index is rebalanced semi-annually.
The PowerShares S&P 500 High Dividend Portfolio (SPHD)
listing will expand the available range of PowerShares Factor-Driven ETFs to
13. With more than $3.7 billion in assets under management, the PowerShares
suite of Factor-Driven ETFs provides advisers and investors with an approach
for optimizing portfolios to changing market conditions using factor tilts to
low volatility, high beta, high quality, relative strength and soon high-dividend
strategies.