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3x S&P 500 ETFs Launch

ETFs that return 300% of the S&P 500 daily performance have started trading.

The UltraPro S&P 500 (UPRO) and the UltraPro Short S&P 500 (SPXU), both from ProFunds, are the first ETFs designed to seek triple exposure to the S&P 500 on a daily basis.

ProFunds Group is the world’s largest manager of short and leveraged funds.

See the ProShares ETF Directory for more.

Short International ETFs Start Trading

ProShares has added four more short International ETFs to its line-up.

The new ETFs are the first designed to go up when markets go down in Europe, the Pacific Ex-Japan region, Brazil and Mexico.

The four new funds include UltraShort MSCI Europe (EPV), UltraShort MSCI Pacific ex-Japan (JPX), UltraShort MSCI Brazil (BZQ), UltraShort MSCI Mexico Investable Market (SMK).

ProFunds Group is the world’s largest manager of short and leveraged funds.

See the ProShares ETF Directory for more.

iShares Gets a New Buyer

The deal that was to send Barclay's iShares business to a private equity firm in Europe has been trumped by an offer by BlackRock to acquire Barclay's Global Investors, the parent of the iShares business.

BlackRock is offering $13.5 billion to buy the asset management business that includes 369 iShares ETFs and $300 billion of ETF assets under management.

Laurence Fink, BlackRock's CEO, plans to keep BlackRock mutual funds and the ETF unit separate while giving investors a broader product line up and more choices between active and passive management.

The bigger news is Mr. Fink's plans to place exchange traded funds in retirement plans, traditionally a stronghold for the $10 trillion mutual fund industry.

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ETF Assets Add $56 Billion in May

ETF assets were up $56 billion or 10.6% in May.  Year-to-date, ETF assets are up 10% compared to 4% for the U.S. stock market.

The monthly ETF snapshot report by State Street Global Advisors says that US assets in exchange traded funds now total $587 billion.

The biggest gainer was International, up $24 billion or 22%.  Commodity and size specific ETFs also recorded significant gains.

The industry continued to experience consolidation in May as 5 new ETFs were launched and 19 were closed.

See the ETF Directory for a complete listing.

Global Macro - Emerging Market Hedge Fund ETF Launches

IndexIQ has introduced an ETF that replicates the risk and return characteristics of global macro and emerging markets hedge funds.

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PIMCO Enters ETF Market

Bond giant Pacific Investment Management Company or PIMCO has launched an ETF Platform to provide a new way to access the firm's investment expertise.

The first in a series of ETF solutions is the the PIMCO 1-3 Year U.S. Treasury Index Fund (TUZ), a short-duration bond portfolio for investors that are focused on relatively stable principal value and avoiding credit risk.

TUZ tracks track the Merrill Lynch 1-3 Year U.S. Treasury Index. This fund primarily invests in U.S. Treasury Securities, which are backed by the full faith and credit of the U.S. government.

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ProShares Adds Leveraged International ETFs

Four new leveraged International ETFs have been added to the ProShares lineup of leveraged funds.

The Ultra MSCI EAFE (EFO), Ultra MSCI Emerging Markets (EET), Ultra FTSE/Xinhua China 25 (XPP) and Ultra MSCI Japan (EZJ) seek twice the daily returns of indexes covering developed foreign markets, emerging markets, China and Japan.

ProFunds Group is the world’s largest manager of short and leveraged funds.

See the ProShares ETF Directory for more information.

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