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Products December 8, 2009
Old Mutual Lists Emerging Markets ETF
December 8, 2009 (PLANSPONSOR.com) – Old Mutual Global Index Trackers (OMGxT) has listed GlobalShares FTSE Emerging Markets Fund[NYSE:GSR] on the NYSE.
Reported by PLANSPONSOR staff
For a limited period, OMGxT’s
fund will offer a “Zero Fee, Zero Cost” arrangement, the company said in a news
release. OMGxT will cap the fund’s
operating expenses (other than brokerage or other transaction-related expenses,
taxes, interest, litigation expenses and other extraordinary expenses) at 0
basis points until the earlier of January 31, 2010 or until the net assets of
the fund equal or exceed $1 billion.
Upon expiration of the “Zero Fee, Zero
Cost” arrangement, the adviser has agreed to contractually waive a portion of
its fees and/or reimburse expenses, such that the Net Expense Ratio is capped
0.39% until at least January 31, 2012,
the company said.
Tendai Musikavanhu, managing
director and chief executive officer of OMGxT, noted that Old Mutual seeded the
portfolios with over $60 million.