Products June 10, 2011

Guggenheim Launches High Yield Dividend ETF

Guggenheim Funds Distributors, Inc. has expanded its international exchange-traded fund (ETF) suite with the Guggenheim ABC High Dividend ETF.

Reported by

The offering from will seek to replicate the BNY Mellon ABC Index by providing investors with exposure to high-yielding mature companies from Australia, Brazil and Canada, Guggenheim announced. 

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Having access to higher-yielding companies from those countries offers investors a high level of dividend income potential, explained Scott Minerd, Chief Investment Officer. During inflationary periods in commodity-linked economies, many companies tend to flourish as overall profits and employment rise with their country’s export sector.

 “The global supply of commodity and natural resources is expected to become further constrained such that it will be unlikely to keep pace with global population growth,” said Minerd. “Australia, Brazil and Canada are uniquely positioned as a result of vast commodity deposits. These global supply and demand dynamics are likely to place upward pressure on natural resources and commodity prices, thereby leading to attractive investment opportunities.”

Deals & People June 10, 2011

Alliant Names Retirement Services VP

Specialty insurance brokerage firm, Alliant Insurance Services, hired Michael F. Foy to be Vice President for the company’s national retirement services group, Alliant Retirement Services.
Reported by

Foy, a Certified Financial Planner (CFP), will be based in the company’s Newport Beach office and will also work from offices in San Diego and San Francisco. He will serve as the company’s Lead Consultant for sales, marketing, and servicing of defined contribution clients on the West Coast.  

Alliant reports that Foy has more than twenty years of experience in financial services, including defined contribution investment only (DCIO), bundled intermediary, and bundled direct sales. He previously served as Defined Contribution Consultant for AllianceBernstein in the Pacific Southwest region. He has a bachelor’s degree from St. Mary’s College in Moraga, CA, and an MBA from the University of California, Irvine. 

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“Michael Foy brings an uncommonly broad knowledge of the defined contribution market to our company,” said Rob Schanen, Senior Executive Vice President and Managing Director, Employee Benefits Group. “Mike has an outstanding record of utilizing consultative sales practices to add value to clients and prospects and is focused on improving outcomes for clients. He has an in-depth understanding of mutual funds, sub-accounts, stable value funds, collective trusts, and other complex investment products, as well as a proven ability to analyze investment selection and ongoing performance of all asset classes.”  

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