Products June 16, 2008

Wind Energy ETF To Set Sail

First Trust Advisors L.P. unveiled the First Trust ISE Global Wind Energy Index Fund, an exchange-traded fund (ETF) anticipated to begin trading June 18.
Reported by

A news release said the new offering will seek investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the ISE Global Wind Energy Index, a modified market capitalization weighted equity index consisting of a portfolio of companies throughout the world active in the wind energy industry based on an analysis of the products and services offered by these companies.

The index includes only companies with market capitalizations of at least $100 million, the announcement said. First Trust will be the investment adviser for the ETF.

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“Industry experts are predicting continued growth of installed wind generation capacity worldwide for a number of reasons, including concerns about supply security, rising fossil fuel costs, and mitigation efforts related to environmental problems and climate change,” said Robert Carey, CIO of First Trust, in the release. “First Trust sees the acceleration in the building of global wind generation capacity as a strong signal that wind generation has become an important global growth industry.”

Deals & People June 16, 2008

JPMorgan Retirement Brings On New Head of Investment Services

JPMorgan Retirement Plan Services announced that Hal Bjornson joined the firm as head of investment services.
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Bjornson will lead the firm’s Investment Services Group and Investment Analysts, and will help determine strategy within the JPMorgan Asset Management organization from a defined contribution perspective, a release said. He comes to JPMorgan from The Hartford, where he served as director of investment management services.

JPMorgan Retirement also announced Steven Levitt has joined the firm as a strategic relationship manager. Levitt comes to JPMorgan from American Century Investments where he most recently served as vice president o f institutional sales and relationship management.

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Additionally, the firm announced the promotion of Barbara Lewis to head of institutional sales. In her new role, Lewis manages all aspects of the firm’s new business generation across all institutional market segments, leads the firm’s Consultant Relations team, and serves as an executive sponsor for select clients. She is a member of the firm’s Institutional Operating Committee and Senior Management Team.

JPMorgan Retirement Plan Services provides recordkeeping for 1,195 plans and more than 1.8 million retirement plan participants, as of April 30.

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