ProShares Launches TIPS ETF

ProShares, a provider of alternative exchange-traded funds (ETFs), has launched what it says is the first ETF that provides inverse exposure to U.S. Treasury Inflation-Protected Securities (TIPS).

The ProShares UltraShort TIPS (NYSEArca: TPS) seeks to provide -2x of the daily return of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L), before fees, expenses and interest income. The ETF lists on NYSE Arca as of Thursday.

“Our new fund, the first inverse TIPS ETF, is a new tool for investors considering hedging against or seeking to benefit from declines in TIPS prices,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment adviser, in a news release.

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Putnam Hires Lundberg for Consultant Role

Putnam Investments has appointed Anne Lundberg as Senior Vice President and Consultant Relations Manager, Midwest Region.

Lundberg will report to Robert E. Alan, Head of North America Consultant Relations.

Lundberg is returning to Putnam after a year-long absence. She has nearly 20 years of experience in the financial services industry.  Before joining Putnam, she was a Senior Relationship Manager with William Blair & Company, working with some of the firm’s largest Midwest-based institutional clients. Previously, Lundberg held several positions with Capital Guardian Trust Company, culminating in a position as Vice President, Sales, Client and Consultant Relationship Manager, in which capacity she covered some of the largest institutional investment consultants.

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Lundberg holds a B.A. degree from the University of Northern Iowa and an MBA from the University of Chicago Graduate School of Business (Booth).

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