Van Eck Introduces Market Vectors Mortgage REIT Income ETF

Van Eck Global has launched Market Vectors Mortgage REIT Income ETF (MORT).

The new exchange-traded fund (ETF) offers pure play exposure to the mortgage REIT marketplace. MORT is intended to track, before fees and expenses, the performance of the Market Vectors Global Mortgage REITs Index, a capitalization-weighted index that requires constituent companies to derive at least 50% of their revenues from mortgage REITs. This includes companies and trusts, which are primarily engaged in the purchase or service of commercial or residential mortgage loans or mortgage-related securities.

The Index had 25 constituents as of July 31, 2011, all of which were REITs focused on residential mortgages, commercial mortgages, or a mix of both. Unlike other indexes used in mortgage REIT-focused ETFs, the Index does not include mortgage finance companies or savings associations, the company said.

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MORT carries a gross expense ratio of 0.54% and a net expense ratio of 0.40%, with expensed capped at 0.40% until May 1, 2013 (excludes certain expenses, such as interest). The fund expects to make quarterly distributions to shareholders.

Number of Millionaires on Facebook Doubled in One Year

Spectrem reports that the percentage of U.S. millionaires using Facebook nearly doubled in 2011 to 46%, up from 26% in 2010. 

In its report, “Social Media and Affluent Households,” millionaires are defined as having a net worth of $1 million to $5 million, not including primary residence (NIPR). Forty-seven percent of ultra-high-net-worth (UHNW) investors, those with a net worth of $5 million to $25 million NIPR, and 55% of the mass affluent, who have a net worth of $100,000 to $1 million NIPR, are also using Facebook.

Blogs are another good way to reach the wealthiest Americans, Spectrem says.  Nearly one-third (30%) of UHNW investors say they either read or would read blogs by trusted financial advisers. The percentage is 20% for millionaires and 21% for the mass affluent.

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“Learning how to effectively use social media and financial blogs is critical to the future success of financial services firms.   Providers who fall behind run the risk of frustrating their investors and losing customers,” said George H. Walper, Jr., President of Spectrem Group.

In addition to Facebook, LinkedIn is also popular among wealthy investors, with 19% of millionaires, 26% of UHNW investors and 22% of the mass affluent using the service.  Twitter usage was smaller, with 3% of millionaires, 6% of UHNW investors and 5% of the mass affluent using this service.

The Spectrem eZine “Social Media and Affluent Households” is based on online and telephone surveys of the financial decision-makers of 1,294 households with a net worth of $1 million to $5 million, not including primary residence (NIPR), 439 households with a net worth of $5 million to $25 million (NIPR) and 1,269 households with a net worth of $100,000 to $1 million (NIPR).The surveys were conducted in November 2010 and June 2011.

 

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