The law requires that beginning January 1, financial intermediaries provide to investors and the IRS the adjusted cost basis for covered securities. Fiserv's cost-basis tool allows daily importing and calculation of data to provide adjusted cost-basis information. Additional information can be found at www.fiserv.com.
ProShares Launches First Volatility ETFs
ProShares is offering the first Volatility ETFs: VIX Short-Term Futures and VIX Mid-Term Futures. The funds provide exposure to equity-market volatility by trying to match the performance of their respective VIX futures indexes, before fees and expenses. Additional information is available at http://proshares.com.
WisdomTree Offers Managed Futures ETF
WisdomTree is launching the WisdomTree Managed Futures Strategy Fund. The fund is an actively managed ETF that employs a rules-based strategy designed to provide exposure to commodities and currencies through a long/short quantitative approach.
The new fund will try to provide diversification through an uncorrelated asset mix and its long/short strategy, profits in rising and falling markets, performance in inflationary and deflationary environments, and exposure to commodities.
Van Eck Creates New Fund
Van Eck Global is launching a new index-based, open-end mutual fund that is designed to reduce the potential negative effects of contango, which can significantly reduce the performance of commodity investments over time.
The new Van Eck Constant Maturity Commodity Index Fund tracks the performance of the UBS Bloomberg Constant Maturity Commodity Total Return Index. Contango occurs when the price of a futures contract exceeds the expected spot price at the contract expiration date. The new fund is diversified over 26 commodities and five maturities and is rebalanced monthly. For more information, visit at www.vaneck.com.
New Natixis Funds
Natixis Global Associates is launching two mutual funds managed by Harris Associates, advisor to Oakmark Funds.
Natixis Oakmark International Fund will focus on non-U.S. equity markets and the Natixis Oakmark Global Fund will look for compelling investment opportunities worldwide.