The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:First Trust Rolls Out an Auto ETF Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, May 13, 2011

First Trust Rolls Out an Auto ETF

Reported by Hung Tran

Advisors, start your engines! First Trust Advisors L.P. [see profile] this week rolled out its first ETF focused on the global auto industry.

The First Trust NASDAQ Global Auto Index Fund, which began trading May 10, seeks to give investors exposure to auto manufacturers in both developed and emerging markets. The fund will have exposure to 30 companies.

First Trust's Eric Anderson (vice president and ETF analyst) and Andy Subramanian senior vice president, rang the opening bell of the NASDAQ this morning in honor of the new ETF. Anderson told The MFWire that the firm's impetus to launch the auto ETF stemmed from bullish advisors who wanted more exposure to the auto industry.

He said growth opportunities in the domestic and itnernational auto industry spurred the EFT's launch. "Domestically, the average age of cars is 10 years and consumers have put off buying cars because of the economy. Now, they're putting more mnoney to work," he said. "Less than six percent of Chinese consumers own cars."

First Trust currently manages some $8 billion across 58 ETFs, according to Anderson. This is up from $2 billion 16 months ago. Watch for the firm to launch additional EFTs in the energy and infrastructure complexes in the coming months.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use