AXA Launches European ETF

April 25, 2001 (PLANSPONSOR.com) - AXA Investment Managers plans to list a new European exchange-traded fund (ETF) based on the Dow Jones Global Titans 50 index.

The EasyETF GLOBAL TITANS 50 will be based on the index of 50 of the world’s largest companies, and is expected to begin trading at Euronext today.

AXA claims this will be the first global index to be published 24 hours a day. And just before the EasyETF GLOBAL TITANS 50 was issued, the index was used as the basis for a futures contract.

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Exchange-traded funds are “baskets” of securities similar to a mutual fund, except that they trade like individual stocks.



 

Disability Coverage Inadequate for Many

April 24, 2001 (PLANSPONSOR.com) - A survey conducted by the Consumer Federation of America and the American Council of Life Insurers has found that 40% of workers have no long-term disability coverage.

Worse, nearly half of those that do, don’t believe the coverage is adequate.

Of the 500 workers surveyed,

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  • Two out of five had no long-term disability coverage
  • Almost three-quarters said that their finances would be adversely affected if they were unable to work for a year or longer.

“Under” Standing

Workers also have a poorer understanding of their disability benefits in comparison to their other benefits such as life insurance and retirement and pension benefits.

Of those covered by disability insurance,

  • some 43% said they did not know their basic long-term disability insurance benefit,
  • while 41% did not think their disability coverage adequate to protect their income.

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