Australia
VanEck lists multifactor EM fund
VanEck's Australian division has listed an emerging markets ETF that uses a multifactor approach to pick stocks.
The VanEck Vectors MSCI Multifactor Emerging Markets Equity ETF (EMKT) will take MSCI's famous Emerging Markets Index and pass it through a four factor model. The factors looked at are: quality, value, momentum and low size. The index includes large and mid-cap stocks across 24 emerging markets countries.
While Australia has emerging market ETFs there are to date no multifactor ones.
Corporate action
PowerShares has just rebranded all of its Claymore, Rydex and Guggenheim products and attached them to new ISINs. The consolidation follows on their acquisitions and ensures that they'll be ranked fourth largest issuer globally by assets.
