PureFunds ETFs Launch on NYSE SRCA
2012-11-29 21:32:34 -
Purefunds Partners With ISE And Factor Advisors To Launch Three New ETFs On NYSE Arca, Including First Diamond/Gemstone Fund
NEW YORK CITY – (November 29, 2012) –Three PureFunds™ global equity Exchange Traded Funds (ETFs), including the first ever ETF to hold shares exclusively of companies engaged in the diamond/gemstone industry, successfully launched on the NYSE Arca exchange today. The
innovative funds track ISE indexes, and feature an annual expense ratio of 0.69 percent.
The funds are:
PureFunds™ ISE Diamond/Gemstone ETF (NYSE Arca: GEMS), which seeks to replicate the price and yield performance of the ISE Diamond/Gemstone™ Index of companies actively engaged in the gemstone industry including exploration, production, or sales of precious stones.
PureFunds™ ISE Mining Service ETF (NYSE Arca: MSXX), which seeks to replicate the price and yield performance of the ISE Mining Service™ Index of the largest and most liquid companies involved in facilitating the operations of the mining industry as a whole, including companies that manufacture, lease, sell and provide equipment, as well as, companies that provide consulting or other services to the industry.
PureFunds™ ISE Junior Silver ETF (NYSE Arca: SILJ), which seeks to replicate the price and yield performance of the ISE Junior Silver Miners™ Index, a benchmark for investors interested in tracking small-cap public companies active in the silver mining exploration and production industry.
“Diamonds and other gemstones have traditionally been a difficult asset to invest in because there is no spot or futures market, so we developed an ETF that exclusively invests in companies that produce, refine, sell, or hold gemstone inventory,” said Paul Zimnisky, CEO of PureFunds. “We believe new demand for diamonds and other gemstones will continue to come from developing parts of the world where the trend of gifting gemstones is catching on fast. Investors are also driving demand, as gemstones are being bought as a hedge against inflation, the same way precious metals are. We expect the companies in this fund to benefit if the demand for gemstones remains favorable.”
“By partnering with PureFunds, we are able to combine our extensive experience in index development with PureFunds’ innovative investment concepts in precious metals and other hard assets,” said Kris Monaco, head of New Product Development at ISE. “As we look to deepen our partnerships in the ETF area, we are also pleased that PureFunds has been able to leverage ISE’s product development guidance, marketing support, and financing resources to successfully introduce the PureFunds products to market.”
PureFunds is the Business Manager to the Funds, the International Securities Exchange (ISE) is the index provider, and Factor Advisors, LLC, a member of the GENCAP family of fund offerings, is the adviser to the Funds. The Funds use an index replication strategy in an attempt to achieve objectives. For more information, please read the prospectus here.
About PureFunds: Madison, New Jersey based PureFunds is an innovator of ETF concepts designed to provide the market with easy access to niche sectors through pure-play ETFs. PureFunds aims to launch tactical ETFs that the market desires but do not currently exist. PureFunds serves as the Business Manager to the Funds.
About Factor Advisors: Factor Advisors, LLC is a wholly owned subsidiary of GENCAP Ventures, LLC (GENCAP), a leading Exchange Traded Funds products and services company. GENCAP offers a full range of ETF services to the investment management community through it’s subsidiaries: Factor Advisors, LLC, Factor Capital Management, LLC, ETF Service Providers, LLC and GENCAP Strategies, LLC. The services provided include product management, ETF wholesaling and marketing. GENCAP is leading the industry with the broadest range of services for ’33 Act commodity products as well as both active and passive ’40 Act ETF funds.
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained here. The statutory prospectus can be obtained by calling 877- 756-PURE (877-756-7873). Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. The mining industry is highly volatile due to significant fluctuation in the prices of commodities, as well as political and regulatory developments. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. The Funds are non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. Therefore, the Funds are more exposed to individual issuer volatility than a diversified fund. Funds that are less diversified across countries or geographic regions are generally riskier than more geographically diversified funds and risks associated with such countries or geographic regions may negatively affect a Fund. Investments in small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Factor Advisors, LLC serves as the investment adviser and Esposito Partners, LLC serves as sub advisor to the fund. The Funds are distributed by Quasar Distributors, LLC which is not affiliated with Factor Advisors, LLC or any of its affiliates.
The SEC does not endorse, indemnify, approve, nor disapprove of any security.
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