Products December 3, 2010

ETF Securities Launches White Metals ETF

ETF Securities announced that ETFS Physical White Metals Basket Shares (Ticker: WITE) was introduced on the NYSE Arca today.
Reported by

The objective of the ETFS White Metals Basket Trust shares is to reflect the performance of the price of silver, platinum and palladium. The Trust is open-ended and is designed for investors who want a cost-effective and convenient way to invest in all three precious metals, as well as diversify their existing gold or precious metal holdings.   

The product has a gross annual expense ratio of 0.60%.  

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According to the announcement, the Shares represent beneficial interest in the Trust, which holds physical allocated silver, platinum and palladium bullion held in vaults by the Custodian (JP Morgan Chase Bank).   

The new listing comes from the same management team that created ETFS Physical Swiss Gold Shares (SGOL) and ETFS Physical Silver Shares (SIVR) in 2009, as well as ETFS Physical Platinum Shares (PPLT) and ETFS Physical Palladium Shares (PALL) in January 2010, which have combined assets under management of $2.89 billion as of December 1, 2010. 

Deals & People December 2, 2010

Munder Acquires Integrity Asset Management

Munder Capital Management, a money management firm serving institutional and individual investors, is acquiring Integrity Asset Management, a Louisville, Kentucky-based institutional investment management company.
Reported by

Under the agreement, Integrity will become a wholly owned subsidiary of Munder Capital Management. Integrity’s investment strategies and management teams will remain in place, and it will retain its current name, location, and brand, a news release said.

Integrity, with more than $3 billion in assets under management, provides investment management services to corporate, public, endowment, foundation, Taft-Hartley, and sub-advisory clients. The firm was named as one of “The Best Managers You Have Never Heard Of” by PLANSPONSOR magazine (see Cover: The Best Managers You Never Heard Of).

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This partnership enables both firms to leverage each firm’s strengths. “Our union with Integrity allows us to partner with an outstanding asset management firm that shares our commitment to investment excellence,” said Jim FitzGerald, President and Chief Operating Officer at Munder Capital, in the news release. “Integrity has a stellar investment team, proven investment processes and a consistent long-term track record.”

The transaction is expected to close by December 31, 2010, subject to customary closing conditions, including receipt of client approvals.

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