Products June 22, 2009

New Fund Provides Index for Bank Securities

The First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ: QABA) is scheduled to begin trading on July 1.
Reported by

According to a company announcement, the fund will provide a benchmark for the investors interested in tracking the common stock of all NASDAQ listed banks and thrifts or their holding companies that are designated as banks by the American Bankers Association. The index will not include any of the 50 largest banks, or banks that are classified as having “international specialization” or a “credit-card specialization” as determined by the FDIC, the announcement said.

A security must have a market capitalization of at least $200 million, a three-month average daily dollar trading volume of at least $500 thousand and must meet certain operating history, solvency, and financial statement requirements to be included.

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

The index is be rebalanced quarterly and reconstituted semi-annually.

Products June 22, 2009

Zurich Firm Launches U.S. Sustainability Fund

SAM Sustainable Asset Management (SAM), a Zurich-based investment firm, has launched a new mutual fund for U.S. investors, the SAM Sustainable Global Active Fund.
Reported by

According to a news release, the SAM Sustainable Global Active fund is a registered no-load fund offered in both investor share and institutional classes, with minimum investments of $2,500 and $100,000 respectively.

The offering is a global, all cap equity fund investing in companies that lead in terms of sustainability based on SAM’s research methodology which considers economic, social and environmental factors to rate companies’ ability to manage sustainability issues.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

The fund is advised by SAM’s subsidiary, Sustainable Asset Management USA, Inc., a registered investment adviser.

«