Products September 13, 2010

S&P Launches Dynamic VEQTOR X Index

Standard & Poor's has launched the S&P 500 Dynamic VEQTOR X Index, a companion strategy index to the S&P 500 Dynamic VEQTOR Index which was launched last November.
Reported by

According to a press release, whereas the VEQTOR strategy dynamically allocates between equity, volatility and cash to provide broad equity market exposure with an implied volatility hedge, VEQTOR X is designed to complement an investor’s existing U.S. equity allocation. This is achieved by dynamically allocating between long exposure in the S&P 500 VIX Short-Term Futures Index and short exposure in the S&P 500, the announcement said.    

The S&P Dynamic VEQTOR X Index is part of the S&P 500 Dynamic VEQTOR Index Series which allocates between equity and volatility based on the combination of realized and implied volatility trend decision variables.  The allocations are evaluated on a daily basis. A stop-loss feature is also included to limit downside risk.  

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Deals & People September 13, 2010

Eaton Vance Appoints New Head of Institutional

Eaton Vance Corp. has announced the appointment of Scott P. Ruddick as Head of Institutional.
Reported by

Ruddick will be responsible for business development, consultant relations and client service in the retirement plan and endowment and foundation marketplaces in the United States and Canada.  He will report to Matthew J. Witkos, President of Eaton Vance Distributors, Inc., who is assuming overall responsibility for the company’s distribution across all channels globally.      

According to a press release, prior to joining Eaton Vance, Ruddick was affiliated with Mellon Capital Management for 13 years, most recently as Managing Director – North American Sales Manager.  He previously served in marketing and client service roles with PanAgora Asset Management and The Boston Company.    

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Ruddick holds a B.S. in business administration from the University of Hartford.  Eaton Vance and its affiliates managed $173.3 billion in assets as of July 31, 2010.    

 

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