Products August 27, 2008

Invesco Readies Four New ETFs

Invesco PowerShares Capital Management LLC has announced the anticipated listing of four new equity exchange-traded funds (ETFs) designed to provide access to companies involved in the agriculture, coal, gold and precious metals and steel sectors.
Reported by

The new ETFs are:

  • The PowerShares Global Agriculture Portfolio (ticker: PAGG), based on the NASDAQ OMX Global Agriculture Index, an index designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in agriculture and farming-related activities.
  • The PowerShares Global Coal Portfolio (ticker: PKOL), based on the NASDAQ OMX Global Coal Index. According to the firm that Index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the exploration for and mining of coal, and other related activities in the coal industry. The index is also rebalanced quarterly using a modified market capitalization-weighting methodology.
  • The PowerShares Global Gold and Precious Metals Portfolio (ticker: PSAU), based on the NASDAQ OMX Global Gold and Precious Metals Index. The index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in mining-related activities for gold and other precious metals.
  • The PowerShares Global Steel Portfolio (ticker: PSTL), based on the NASDAQ OMX Global Steel Index, an index designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the manufacturing and storage of iron and steel products.

The portfolios are expected to begin trading September 18, 2008, on the Nasdaq Stock Market. According to the announcement, each of the base indexes cited above is rebalanced quarterly using a modified market capitalization-weighting methodology.

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Products August 27, 2008

MassMutual Offers a Hand to 403(b) Clients

MassMutual Retirement Services Division is reaching out to its existing 403(b) plan sponsor clients and their advisers to offer step-by-step support for getting into compliance with new 403(b) regulations.
Reported by

According to a press release, MassMutual’s ERISA Advisory Services consulting group is prepared to provide a broad range of compliance support for existing and prospective 403(b) clients and their advisers including:

  • Plan document services for ERISA and non-ERISA plans;
  • Overall analysis and recommendations regarding 403(b) retirement plans;
  • Guidance for resolution of testing, plan design, and coverage issues;
  • Analysis of current and proposed regulatory changes and impacts to a client’s plan;
  • Audit assistance in preparation for IRS/DOL plan audits;
  • Corrective action program (EPCRS) assistance; and
  • Fiduciary and investment due diligence assistance.

For more information call MassMutual at 888-626-4911.

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