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Eaton Vance Management, the Boston-based investment adviser, today announced the monthly distributions declared on the common shares of two of its closed-end equity funds (the "Funds"). The record date for the distributions is June 23, 2010, and the payable date is June 30, 2010. The ex-date is June 21, 2010. The distribution per share for each Fund is as follows:
| Distribution
| | Fund
| Per Share
| |
|
| | Eaton Vance Enhanced Equity Income Fund (NYSE:EOI)
| $0.1164
| | Eaton Vance Enhanced Equity Income Fund II (NYSE:EOS)
| $0.1200
| | | |
At this time the Funds believe that a portion of the June distribution may be comprised of amounts from sources other than net investment income. If that is the case, you will be notified in writing. Further information will be available prior to the payment date at http://individuals.eatonvance.com. The final determination of tax characteristics of each Fund's distribution will occur after the end of the year, at which time it will be reported to the shareholders.
The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $176.2 billion in assets as of April 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
SOURCE Eaton Vance Management
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ING Investments, LLC announced the quarterly distributions on the common shares of three of its closed-end funds: ING Global Advantage and Premium Opportunity Fund (NYSE: IGA), ING Risk Managed Natural Resources Fund (NYSE: IRR) and ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE) (each a "Fund" and collectively, the "Funds").
The quarterly distributions announced today are reduced from distributions paid in prior periods in an effort to align the Fund's distributions with the current conditions in the equity and options markets. The Funds' management considered a number of factors before deciding to decrease each Fund's distribution, including the level of assets in each respective Fund, the dividend yield of the underlying equity portfolios and prevailing implied option volatilities.
With respect to each Fund, the distribution will be paid on July 15, 2010, to shareholders of record on July 6, 2010. The ex-dividend date is July 1, 2010. The distribution per share for each Fund is as follows:
Fund
| Distribution Per Share
| Change from previous quarter
| | ING Global Advantage and Premium Opportunity Fund (NYSE: IGA)
| $0.335
| - $0.037
| |
ING Risk Managed Natural Resources Fund (NYSE: IRR)
| $0.363
| - $0.019
| |
ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE)
| $0.426
| - $0.022
| | | | |
Each Fund intends to make regular quarterly distributions based on the past and projected performance of the Fund. The amount of quarterly distributions may vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares may change. There can be no assurance that a Fund will be able to declare a distribution in each period.
The tax treatment and characterization of a Fund's distributions may vary significantly from time to time depending on the net investment income of the Fund and whether the Fund has realized gains or losses from its options strategy versus gain or loss realizations in the equity securities in the portfolio. Each Fund's distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital.
The portion of each Fund's quarterly distributions estimated to come from the Fund's option strategy, for tax purposes, may be treated as a combination of long-term and short-term capital gains, and/or a return of capital. The tax character of each Fund's option strategy is largely determined by movements in, and gain and loss realizations in the underlying equity portfolio. Under certain conditions, federal tax regulations may also cause some or all of the return of capital to be taxed as ordinary income. The final tax characteristics of the distributions cannot be determined with certainty until after the end of the calendar year, and will be reported to shareholders at that time.
IGA estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 100% ordinary income.
IRR estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 5% ordinary income and 95% return of capital.
IAE estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 19% ordinary income and 81% return of capital.
Certain statements made on behalf of the Funds in this release are forward- looking statements. The Funds actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in equity markets in general or the Funds investments specifically. Neither the Funds nor ING undertake any responsibility to update publicly or revise any forward-looking statement.
ING Investments, LLC, the manager of the Funds, is part of ING, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 125,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180
Source: ING
SOURCE ING
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Investment Technology Group, Inc. (NYSE: ITG), a leading agency broker and financial technology firm, announced today that David Stevens was appointed Chief Executive Officer of ITG's Asia Pacific business. Mr. Stevens previously served as CEO of ITG's European operations. Mr. Stevens will be managing the Asia Pacific business from ITG's Hong Kong office.
"We are pleased to have David on the ground in Hong Kong to lead our Asia Pacific business at a time of both significant challenges and opportunities in the region," said Bob Gasser, CEO and President of ITG. "David has been instrumental in the growth of our European business and I have every confidence that under his leadership the Asia Pacific business will grow market share and move towards profitability."
Rob Boardman, head of electronic trading for ITG in Europe, has assumed the role of CEO in the region. "Rob has been an integral part of the European management team over the past four years and is well regarded across the European region as an authority on electronic trading," said Mr. Gasser. "We look forward to continued growth in Europe under Rob's leadership."
About ITG
Investment Technology Group, Inc., is a specialized agency brokerage and financial technology firm that partners with asset managers globally to provide innovative solutions spanning the investment continuum. A leader in electronic trading since launching POSIT in 1987, ITG's integrated approach now includes a range of products from portfolio management and pre-trade analysis to trade execution and post-trade evaluation. Asset managers rely on ITG's independence, experience, and agility to help mitigate risk, improve performance and navigate increasingly complex markets. The firm is headquartered in New York with offices in North America, Europe and the Asia Pacific regions. For more information on ITG, please visit www.itg.com.
In addition to historical information, this press release may contain "forward-looking" statements that reflect management's expectations for the future. A variety of important factors could cause results to differ materially from such statements. These factors are noted throughout ITG's 2009 Annual Report, on its Form 10-K, and on its Form 10-Qs and include, but are not limited to, the actions of both current and potential new competitors, fluctuations in market trading volumes, financial market volatility, changes in commission pricing, potential impairment charges related to goodwill and other long-lived assets, evolving industry regulations, errors or malfunctions in our systems or technology, rapid changes in technology, cash flows into or redemptions from equity funds, effects of inflation, ability to meet liquidity requirements related to the clearing of our customers' trades, customer trading patterns, the success of our products and service offerings, our ability to continue to innovate and meet the demands of our customers for new or enhanced products, our ability to successfully integrate companies we have acquired, changes in tax policy or accounting rules, fluctuations in foreign exchange rates, adverse changes or volatility in interest rates, our ability to attract and retain talented employees, as well as general economic, business, credit and financial market conditions, internationally or nationally. The forward-looking statements included herein represent ITG's views as of the date of this release. ITG undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.
Contacts:
|
|
| | US:
| Asia Pacific:
| Europe:
| | J.T. Farley, ITG
| Clare Rowsell, ITG
| Nick Bone, Penrose
| | +1 212 444 6259
| +852 2846 3567
| +44 207 786 4878
| | | | |
SOURCE Investment Technology Group, Inc.
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Eaton Vance Management, the Boston-based investment adviser, announced the monthly distributions declared on the common shares of three of its closed-end equity funds (the "Funds"). The record date for the distributions is June 23, 2010, and the payable date is June 30, 2010. The ex-date is June 21, 2010. The distribution per share, closing market price on June 11, 2010 (or last trade price), and annualized market yield for each Fund are as follows:
| |
| Distribution
| Closing
| Annualized
| | Fund
| Per Share
| Market Price
| Yield
| | Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT)
| $0.1075
| $14.45
| 8.93%
| | Eaton Vance Tax-Advantaged Global Dividend Income Fund (NYSE: ETG)
| $0.1025
| $12.55
| 9.80%
| | Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (NYSE: ETO)
| $0.1167
| $18.14
| 7.72%
| |
| | | | | |
The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $176.2 billion in assets as of April 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
SOURCE Eaton Vance Management
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http://www.eatonvance.com
ING Investments, LLC announced the quarterly distributions on the common shares of three of its closed-end funds: ING Global Advantage and Premium Opportunity Fund (NYSE: IGA), ING Risk Managed Natural Resources Fund (NYSE: IRR) and ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE) (each a "Fund" and collectively, the "Funds").
The quarterly distributions announced today are reduced from distributions paid in prior periods in an effort to align the Fund's distributions with the current conditions in the equity and options markets. The Funds' management considered a number of factors before deciding to decrease each Fund's distribution, including the level of assets in each respective Fund, the dividend yield of the underlying equity portfolios and prevailing implied option volatilities.
With respect to each Fund, the distribution will be paid on July 15, 2010, to shareholders of record on July 6, 2010. The ex-dividend date is July 1, 2010. The distribution per share for each Fund is as follows:
Fund
| Distribution Per Share
| Change from previous quarter
| | ING Global Advantage and Premium Opportunity Fund (NYSE: IGA)
| $0.335
| - $0.037
| |
ING Risk Managed Natural Resources Fund (NYSE: IRR)
| $0.363
| - $0.019
| |
ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE)
| $0.426
| - $0.022
| | | | |
Each Fund intends to make regular quarterly distributions based on the past and projected performance of the Fund. The amount of quarterly distributions may vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares may change. There can be no assurance that a Fund will be able to declare a distribution in each period.
The tax treatment and characterization of a Fund's distributions may vary significantly from time to time depending on the net investment income of the Fund and whether the Fund has realized gains or losses from its options strategy versus gain or loss realizations in the equity securities in the portfolio. Each Fund's distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital.
The portion of each Fund's quarterly distributions estimated to come from the Fund's option strategy, for tax purposes, may be treated as a combination of long-term and short-term capital gains, and/or a return of capital. The tax character of each Fund's option strategy is largely determined by movements in, and gain and loss realizations in the underlying equity portfolio. Under certain conditions, federal tax regulations may also cause some or all of the return of capital to be taxed as ordinary income. The final tax characteristics of the distributions cannot be determined with certainty until after the end of the calendar year, and will be reported to shareholders at that time.
IGA estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 100% ordinary income.
IRR estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 5% ordinary income and 95% return of capital.
IAE estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 19% ordinary income and 81% return of capital.
Certain statements made on behalf of the Funds in this release are forward- looking statements. The Funds actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in equity markets in general or the Funds investments specifically. Neither the Funds nor ING undertake any responsibility to update publicly or revise any forward-looking statement.
ING Investments, LLC, the manager of the Funds, is part of ING, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 125,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180
Source: ING
SOURCE ING
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American Capital, Ltd. (Nasdaq: ACAS) (the "Company") announced today that it has made certain amendments to its private offers to exchange its outstanding unsecured public and private notes for cash payments and new secured notes (the "Exchange Offers"). No changes are being made to the Company's standby plan of reorganization (the "Standby Plan") or to the expiration of the Exchange Offers or the voting deadline for the Standby Plan.
Under the amended terms of the Exchange Offers, holders of the Company's privately-issued unsecured notes ("Private Notes") may now choose whether to receive consideration all in cash or all in the previously offered secured amortizing notes ("Amortizing Notes") rather than choosing cash or Amortizing Notes and there being a possibility of receiving a combination of cash and Amortizing Notes. In the concurrent restructuring of the Company's line of credit facility, lenders will now have the opportunity to choose to receive all cash or all secured loans under an amended credit agreement. Alternatively, lenders selecting secured loans may elect to receive instead a new series of secured amortizing notes, which will have the same terms as the Amortizing Notes except that they will be subject to certain transfer restrictions under SEC Rule 144A. Holders of Private Notes and lenders under the credit agreement who do not make an election or otherwise do not participate in the restructuring will now automatically receive cash, subject to certain exceptions. As a result of these amendments, the Company has also amended certain conditions to the Exchange Offers.
As previously announced, holders of the Company's unsecured public 6.85% Senior Notes due August 1, 2012 ("Public Notes") have the right to exchange Public Notes for a series of non-amortizing new notes ("Call-Protected Secured Notes"). Alternatively, they have the right to elect to receive cash, and under the amended terms of the Exchange Offers, they are assured of receiving solely cash rather than a combination cash and notes.
The Company also reported that the percentage of beneficial holders of Public Notes who have entered into the previously announced June 9, 2010 lock-up agreement has increased from 43% to 72%. Holders of Public Notes who are parties to the lockup agreement generally agree to tender their Public Notes in the Exchange Offers and vote their Public Notes to accept the Standby Plan, among other matters.
The Company has not extended the expiration time of the Exchange Offers and the consent solicitation of its outstanding public notes (the "Consent Solicitation") or the voting deadline of its solicitation of votes to accept the Standby Plan. The Exchange Offers, the Consent Solicitation and the Standby Plan Solicitation will continue to expire at 11:59 p.m., New York City time, on June 22, 2010, unless further extended or earlier terminated.
Each holder of the Private Notes and Public Notes (other than certain holders who held $100,000 or less of Public Notes) who has on or prior to June 15, 2010, tendered its notes in the Exchange Offers has the right to withdraw such tender at any time prior to the scheduled expiration time on June 22, 2010 (without giving effect to any further extension) or to change a prior election to receive cash or notes. Any creditor that has previously submitted a properly completed ballot may change its vote for acceptance or rejection of the Standby Plan at any time prior to the new voting deadline on June 22, 2010, as the same may be extended.
This press release and its contents are not an offer to sell or purchase or an offer to exchange or a solicitation of acceptance of an offer to sell or purchase or offer to exchange any security. Any such offer or solicitation shall be made solely by means of an offering memorandum or other offer document furnished to existing securityholders and any securities that are offered have not been, and will not be, registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $14 billion in capital resources under management and eight offices in the U.S., Europe and Asia. For further information, please refer to www.AmericanCapital.com.
This press release contains forward-looking statements. The statements regarding expected results of American Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions or changes in the conditions of the industries in which American Capital has made investments.
Contact:
Investors - (301) 951-5917
SOURCE American Capital, Ltd.
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Eaton Vance Management, the Boston-based investment adviser, announced the monthly distributions declared on the common shares of two of its closed-end bank loan funds (the "Funds"). As portfolio and market conditions change, the rate of future distributions may change. The distributions are expected to be paid on June 30, 2010, to shareholders of record on June 23, 2010. The ex-date is June 21, 2010. The distribution per share for each Fund is as follows:
| Distribution
| | Fund
| Per Share
| | Eaton Vance Floating-Rate Income Trust (NYSE: EFT)
| $0.082
| | Eaton Vance Senior Floating-Rate Trust (NYSE: EFR)
| $0.083
| | | |
At this time the Funds believe that a portion of the June distributions may be comprised of amounts from sources other than net investment income. If that is the case, you will be notified in writing. Further information will be available prior to the payment date at http://individuals.eatonvance.com. The final determination of tax characteristics of each Fund's distribution will occur after the end of the year, at which time it will be reported to the shareholders.
The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $176.2 billion in assets as of April 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
SOURCE Eaton Vance Management
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According to a new Quick Poll conducted by SEI (Nasdaq: SEIC), private banking wealth managers and operations personnel say the industry is in a period of significant change and many believe that end-investors will emerge as the big winners. More than half of survey respondents (54 percent) say they believe the wealth management industry is "undergoing dramatic change." Another third (34 percent) said the industry is "slowly turning towards a client-centric orientation."
Poll respondents identified client advice as a priority, with 33 percent indicating their organization's top priority over the next three to five years is to enhance their offering to deliver "high-value, holistic advice." Another 27 percent identified their top priority as "solidifying a recurring revenue growth model."
"Poll results indicate that private banking wealth managers believe the industry is responding to this difficult economic time by embracing innovative business models," said Joseph Ujobai, Executive Vice President for SEI's Private Banks segment. "We believe optimism has increased over the past couple of years, and that change will be good for the industry and high-net-worth clients. SEI has long believed that a client-centric approach is a more sustainable business model."
More than half (51 percent) say that in three years their primary internal function will be "client-facing activities." One-fifth of respondents say that "changing the traditional business model" is the biggest challenge facing the wealth management industry.
"The industry-wide discussion is clearly shifting as private banking wealth management teams search for new ways to address client needs," said Al Chiaradonna, Senior Vice President for SEI's Private Banks segment. "We were very pleased with the robust discussions around these topics at our recent SEI Connections Conference. There are a lot of intelligent people focused on the near and long-term future of wealth management, and that should result in innovation for the industry as well as end-clients."
The Quick Poll was conducted at the annual SEI Connections Conference, which brings together private banking wealth managers and operations personnel who support wealth service firms across the United States. A total of 110 attendees responded to the poll. Connections, hosted June 7 – 9 at SEI's Oaks campus, offered clients forward-looking sessions on key industry topics, current trends, and anticipated developments.
About SEI's Global Wealth Services
SEI's Global Wealth Services is an outsourcing solution for Wealth Managers encompassing wealth processing services and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.
About SEI's Private Banks Segment
SEI's Private Banks business segment delivers investment management and wealth processing services through its Global Wealth Services solution to private banks and wealth management organizations. SEI enables wealth managers to meet the rapidly evolving business and investment needs of their clients by helping them grow and protect revenue, minimize cost and allocate capital effectively, enable risk management and help manage transformation. SEI's solutions are used by over 290 clients in nine countries. For more information, visit http://www.seic.com/banks/.
About SEI
SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of March 31, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $394 billion in mutual fund and pooled assets and manages $162 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit www.seic.com.
SOURCE SEI
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Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, announced today it will execute a 1-for-5 reverse split of the shares of the Direxion Daily Energy Bear 3x Shares (ERY), Direxion Daily Real Estate Bear 3x Shares (DRV), Direxion Daily Small Cap Bear 3x Shares (TZA) and Direxion Daily Technology Bear 3x Shares (TYP) for shareholders of record after the close of the markets on Wednesday, July 7, 2010.
The CUSIPs for the four ETFs will change as follows:
Shareholders of record of the above ETFs on July 7, 2010 will participate in the reverse splits. The Depository Trust Company ("DTC"), the registered owner of all ETF shares, has been notified of the reverse splits and has been instructed to adjust each shareholder's investment accordingly.
As a result of the reverse splits, every five shares of each ETF will be exchanged for one share of the applicable ETF. The number of each ETF's issued and outstanding shares will decrease by approximately 80%, and the ETF's per share NAV will increase 5-fold at the opening of the markets on July 8, 2010.
The shares of each ETF will be offered on a split-adjusted basis on July 8, 2010. The total market value of the shares outstanding will not be affected as a result of this reverse split, except with respect to the redemption of fractional shares, as discussed below.
Hypothetical Example of 1-for-5 reverse split:
|
|
|
| | 1-for-5 Reverse Split
| | Period
| # of Shares Owned
| Hypothetical Market Price
| Total Share Value
| | Pre-Split
| 100
| $5
| $500
| | Post-Split
| 20
| $25
| $500
| |
|
|
|
| | | | | |
Redemption of Fractional Shares and Tax Consequences for each Reverse Split
As a result of the reverse splits, a shareholder of each ETF could potentially hold a fractional share. However, fractional shares cannot trade on NYSE Arca. Thus, each ETF will redeem for cash a shareholder's fractional shares at the Fund's split-adjusted NAV as of July 7, 2010. Such redemptions could cause a shareholder to realize a gain or loss. Otherwise, the reverse split will not result in a taxable transaction for holders of ETF shares. No transaction fee will be imposed on shareholders for such redemption.
"Odd Lot" Unit
As a result of the reverse split, the ETFs will have outstanding one aggregation of less than 50,000 shares to make a creation unit, or an "odd lot unit." Thus, each ETF will provide one authorized participant with a one-time opportunity to redeem the respective odd lot unit at its split-adjusted NAV, or at the NAV on such date the authorized participant seeks to redeem the odd lot unit.
To speak to a member of the Direxion team, or request more information, please contact Katrine Winther-Olesen at (973) 400-1341 or katrine@jcprinc.com.
About Direxion
Direxion Funds and Direxion Shares, managed by Rafferty Asset Management, LLC, offer leveraged funds, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $6.4 billion in assets under management as of 3/31/2010. The company's business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners. For more information, please visit www.direxionshares.com.
Shares of DirexionShares ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times.
Disclosure:
An investor should consider the investment objectives, risks, charges, and expenses of DirexionShares carefully before investing. The prospectus and summary prospectus contains this and other information about Direxion Shares. To obtain a prospectus and summary prospectus, please visit www.direxionshares.com. The prospectus and summary prospectus should be read carefully before investing.
Investing in the funds may be more volatile than investing in broadly diversified funds. The use of leverage by a fund increases the risk to the fund. The more a fund invests in leveraged instruments, the more the leverage will magnify gains or losses on those investments.
The Leveraged ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leverage ETFs are not designed to track the underlying index over a longer period of time.
The risks associated with the funds are detailed in the prospectus which include: adverse market condition risk, adviser's investment strategy risk, aggressive investment techniques risk, concentration risk, counterparty risk, credit and lower-quality debt securities risk, equity securities risk, currency exchange risk, daily correlation risk, daily rebalancing and market volatility risk, depository receipt risk, foreign and emerging markets securities risk, sector securities risk, interest rate risk, inverse correlation risk (Inverse Fund or Inverse ETF), leverage risk, market risk, non-diversification risk, shorting risk, small and mid cap company risk, tracking error risk, market timing activity and high portfolio turnover risk, investing in other investment companies and ETFs risk, commodities securities risk, geographic concentration risk, valuation time risk, derivatives risk, commodity-linked derivatives risk, wholly-owned subsidiary risk, tax risk, options and futures contracts risks, security selection risk, Debt Instrument Risk, Gain Limitation Risk, Real Estate Investment Risk, U.S. Government Securities Risk, and Special Risks of Exchange-Traded Funds. Shorting securities occurs when investors sell securities they don't own and are committed to repurchasing eventually.
Direxion Shares distributed by: Foreside Fund Services, LLC.
SOURCE Direxion
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Federated Investors, Inc. today announced that monthly fund composition and performance data for Federated Enhanced Treasury Income Fund (NYSE: FTT), Federated Premier Municipal Income Fund (NYSE: FMN) and Federated Premier Intermediate Municipal Income Fund (NYSE: FPT) as of May 31, 2010 are now available in the Products section of FederatedInvestors.com. To order hard copies of this data or to be placed on a mailing list, call 800-245-0242 x8079, email CEinfo@federatedinv.com or write to Federated Investors, 1001 Liberty Avenue, Floor 23, Pittsburgh, Pennsylvania 15222.
Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing nearly $350 billion in assets as of March 31, 2010. With 137 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to nearly 5,300 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
SOURCE Federated Investors, Inc.
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ING Investments, LLC announced the quarterly distributions on the common shares of three of its closed-end funds: ING Global Advantage and Premium Opportunity Fund (NYSE: IGA), ING Risk Managed Natural Resources Fund (NYSE: IRR) and ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE) (each a "Fund" and collectively, the "Funds").
The quarterly distributions announced today are reduced from distributions paid in prior periods in an effort to align the Fund's distributions with the current conditions in the equity and options markets. The Funds' management considered a number of factors before deciding to decrease each Fund's distribution, including the level of assets in each respective Fund, the dividend yield of the underlying equity portfolios and prevailing implied option volatilities.
With respect to each Fund, the distribution will be paid on July 15, 2010, to shareholders of record on July 6, 2010. The ex-dividend date is July 1, 2010. The distribution per share for each Fund is as follows:
Fund
| Distribution Per Share
| Change from previous quarter
| | ING Global Advantage and Premium Opportunity Fund (NYSE: IGA)
| $0.335
| - $0.037
| |
ING Risk Managed Natural Resources Fund (NYSE: IRR)
| $0.363
| - $0.019
| |
ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE)
| $0.426
| - $0.022
| | | | |
Each Fund intends to make regular quarterly distributions based on the past and projected performance of the Fund. The amount of quarterly distributions may vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares may change. There can be no assurance that a Fund will be able to declare a distribution in each period.
The tax treatment and characterization of a Fund's distributions may vary significantly from time to time depending on the net investment income of the Fund and whether the Fund has realized gains or losses from its options strategy versus gain or loss realizations in the equity securities in the portfolio. Each Fund's distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital.
The portion of each Fund's quarterly distributions estimated to come from the Fund's option strategy, for tax purposes, may be treated as a combination of long-term and short-term capital gains, and/or a return of capital. The tax character of each Fund's option strategy is largely determined by movements in, and gain and loss realizations in the underlying equity portfolio. Under certain conditions, federal tax regulations may also cause some or all of the return of capital to be taxed as ordinary income. The final tax characteristics of the distributions cannot be determined with certainty until after the end of the calendar year, and will be reported to shareholders at that time.
IGA estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 100% ordinary income.
IRR estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 5% ordinary income and 95% return of capital.
IAE estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 19% ordinary income and 81% return of capital.
Certain statements made on behalf of the Funds in this release are forward- looking statements. The Funds actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in equity markets in general or the Funds investments specifically. Neither the Funds nor ING undertake any responsibility to update publicly or revise any forward-looking statement.
ING Investments, LLC, the manager of the Funds, is part of ING, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 125,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180
Source: ING
SOURCE ING
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The Asia Pacific Fund (NYSE: APB) announces the following Webcast:
If you are unable to participate during the live webcast, the call will be available for replay at http://www.investorcalendar.com/ClientPage.asp?ID=159428 or http://www.investorcalendar.com/
The Asia Pacific Fund is a diversified, closed-end management investment company, listed on the New York Stock Exchange under the symbol "APB." The investment objective of the Fund is to achieve long-term capital appreciation through investment primarily in equity securities in the Asia Pacific countries (excluding Japan). The Fund is managed by Baring Asset Management (Asia) Limited. For further information on The Asia Pacific Fund, please call our toll free line at 1-888-4-ASIA-PAC or visit www.asiapacificfund.com
Contact:
| | The Altman Group
| | Patricia Baronowski, 212-400-2604
| | pbaronowski@altmangroup.com
| | |
SOURCE The Asia Pacific Fund
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RELATED LINKS
http://www.asiapacificfund.com
Federated Enhanced Treasury Income Fund (NYSE: FTT) declared its monthly dividend. The fund employs an integrated U.S. Treasury-based strategy with option writing and a duration management overlay in order to provide investors with the potential for current income and total return.
| | Record Date:
| June 23, 2010
|
|
|
| | Ex-Dividend Date:
| June 21, 2010
|
|
|
| | Payable Date:
| June 30, 2010
|
|
|
| |
|
| Dividends Per Share
| |
|
| Amount
|
| Change From Previous Month
| |
| Federated Enhanced Treasury Income Fund
| $ 0.12
|
| $ ---
| |
|
|
|
|
| |
| | | | | | |
The fund's distribution may include sources other than net investment income, including a return of capital (which is not a distribution from income or gains of the fund). If a distribution does not consist solely of net investment income, a notice with the estimated components of the distribution will be (i) provided to shareholders at the time of payment; and (ii) posted to the fund's Web site at FederatedInvestors.com. Investors should use the Form 1099-DIV sent after calendar year end, and not the notice, to prepare tax returns.
Investors can view additional portfolio information in the Products section of FederatedInvestors.com.
Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing nearly $350 billion in assets as of March 31, 2010. With 137 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to nearly 5,300 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
SOURCE Federated Investors, Inc.
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RELATED LINKS
http://FederatedInvestors.com
Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended March 31, 2010. The Fund's fiscal year ends on December 31, 2010.
For the three months ended March 31, 2010, the Fund had net investment income of $2,223,788 ($0.031 per common share). In comparison, for the three months ended March 31, 2009, the Fund had net investment income of $3,276,624 ($0.046 per common share).
Net realized and unrealized losses for the three months ended March 31, 2010 were $9,349,429 ($0.129 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2009 were $37,524,103 ($0.529 per common share).
On March 31, 2010, net assets of the Fund were $1,148,225,075. The net asset value per common share on March 31, 2010 was $15.86 based on 72,380,944 common shares outstanding. In comparison, on March 31, 2009, net assets of the Fund were $1,166,983,336. The net asset value per common share on March 31, 2009 was $16.40 based on 71,145,616 common shares outstanding.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $176.2 billion in assets as of April 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EATON VANCE RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND
| | SUMMARY OF RESULTS OF OPERATIONS
| | (in thousands, except per share amounts)
| |
|
|
|
|
|
|
|
| |
|
|
|
|
| Three Months Ended
| |
|
|
|
|
| March 31,
| |
|
|
|
|
| 2010
|
| 2009
| | Gross investment income
|
|
| $ 5,263
|
| $ 6,376
| | Operating expenses
|
|
| (3,039)
|
| (3,099)
| |
| Net investment income
|
|
| $ 2,224
|
| $ 3,277
| | Net realized and unrealized gains (losses)
|
|
|
|
| | on investments
|
|
|
| $ (9,349)
|
| $ (37,524)
| |
| Net increase (decrease) in net assets
|
|
|
|
| |
| from operations
|
|
| $ (7,125)
|
| $ (34,247)
| |
|
|
|
|
|
|
|
| | Earnings per Common Share Outstanding
|
|
|
|
| | Gross investment income
|
|
| $ 0.073
|
| $ 0.090
| | Operating expenses
|
|
| (0.042)
|
| (0.044)
| |
| Net investment income
|
|
| $ 0.031
|
| $ 0.046
| | Net realized and unrealized gains (losses)
|
|
|
|
| | on investments
|
|
|
| $ (0.129)
|
| $ (0.529)
| |
| Net increase (decrease) in net assets
|
|
|
|
| |
| from operations
|
|
| $ (0.098)
|
| $ (0.483)
| |
|
|
|
|
|
|
|
| | Net Asset Value at March 31 (Common Shares)
|
|
|
| |
| Net assets
|
|
|
| $ 1,148,225
|
| $ 1,166,983
| |
| Shares outstanding
|
|
| 72,381
|
| 71,146
| |
| Net asset value per share outstanding
|
| $ 15.86
|
| $ 16.40
| |
|
|
|
|
|
|
|
| | Market Value Summary (Common Shares)
|
|
|
|
| |
| Market price on NYSE at March 31
|
| $ 16.91
|
| $ 16.54
| |
| High market price (period ended March 31)
| $ 17.33
|
| $ 18.00
| |
| Low market price (period ended March 31)
| $ 16.08
|
| $ 14.77
| | | | | | | | | |
SOURCE Eaton Vance Management
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RELATED LINKS
http://www.eatonvance.com
MassMutual's Retirement Services Division recently hosted its 2010 National TPA Conference for third-party administrators (TPAs) in the MassMutual network. The conference theme, "Way to Win," captures MassMutual's long-standing commitment to helping its select network of third-party administrators grow their business by leveraging the resources provided by MassMutual to TPAs on behalf of sponsors and participants.
Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC, delivered the keynote address and strategic outlook. "Third-party administrators are valued more than ever in today's service-driven market and the growth opportunity for TPAs is tremendous. MassMutual is doing its utmost to help TPAs seize the opportunities to grow their business," said Sarsynski.
Hugh O'Toole, senior vice president of sales and client management, reiterated MassMutual's support of the TPA channel. "MassMutual has been working with TPAs for more than 30 years. We heard time and time again from TPAs attending this conference just how much they appreciate our understanding of their business," states O'Toole. "Each distribution channel has unique strengths and resource needs – and each brings a unique value to the sponsor and the participant. Our dedicated TPA service model underscores our commitment to helping TPAs be as successful as they can be," adds Mike McKenzie, corporate vice president and head of operations for MassMutual's Retirement Services Division.
Feedback from third-party administrators indicates MassMutual is delivering on its promises to TPAs. "This event inspired me more than any other event I have ever attended with any provider," says John Cotterman, QPA, QKA, KB Pension Services, Inc. Sarasota, Fla. "MassMutual's support and innovation are on track to rival and exceed the competition, and the interaction with other TPA business owners is invaluable. The brainstorming sessions revealed only the tip of the iceberg and I look forward to much more of this interaction at future events. It was a great conference and I appreciate the opportunity to attend," he adds.
Guest speakers at MassMutual's TPA Conference included Jim Craig, goalie and gold medalist from the 1980 USA "Miracle on Ice" Olympic hockey team, who addressed attendees on team-building and strategies to achieve peak performance.
More than 60 third-party administrators nationwide attended the conference. "The response from the TPAs who attended this conference was phenomenal," says O'Toole. "The common view expressed throughout the event was that MassMutual really understands the TPA business and the value TPAs bring to plan sponsors and participants. We couldn't agree more."
For more information about MassMutual's TPA Alliance, please contact your advisor or call MassMutual at 1-866-444-2601
About MassMutual
MassMutual's Retirement Services Division has been serving retirement plans for more than 60 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately one million participants.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
For more information, visit massmutual.com.
SOURCE MassMutual Retirement Services
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RELATED LINKS
http://www.massmutual.com
Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended March 31, 2010. The Fund's fiscal year ends on December 31, 2010.
For the three months ended March 31, 2010, the Fund had net investment income of $2,223,788 ($0.031 per common share). In comparison, for the three months ended March 31, 2009, the Fund had net investment income of $3,276,624 ($0.046 per common share).
Net realized and unrealized losses for the three months ended March 31, 2010 were $9,349,429 ($0.129 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2009 were $37,524,103 ($0.529 per common share).
On March 31, 2010, net assets of the Fund were $1,148,225,075. The net asset value per common share on March 31, 2010 was $15.86 based on 72,380,944 common shares outstanding. In comparison, on March 31, 2009, net assets of the Fund were $1,166,983,336. The net asset value per common share on March 31, 2009 was $16.40 based on 71,145,616 common shares outstanding.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $176.2 billion in assets as of April 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EATON VANCE RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND
| | SUMMARY OF RESULTS OF OPERATIONS
| | (in thousands, except per share amounts)
| |
|
|
|
|
|
|
|
| |
|
|
|
|
| Three Months Ended
| |
|
|
|
|
| March 31,
| |
|
|
|
|
| 2010
|
| 2009
| | Gross investment income
|
|
| $ 5,263
|
| $ 6,376
| | Operating expenses
|
|
| (3,039)
|
| (3,099)
| |
| Net investment income
|
|
| $ 2,224
|
| $ 3,277
| | Net realized and unrealized gains (losses)
|
|
|
|
| | on investments
|
|
|
| $ (9,349)
|
| $ (37,524)
| |
| Net increase (decrease) in net assets
|
|
|
|
| |
| from operations
|
|
| $ (7,125)
|
| $ (34,247)
| |
|
|
|
|
|
|
|
| | Earnings per Common Share Outstanding
|
|
|
|
| | Gross investment income
|
|
| $ 0.073
|
| $ 0.090
| | Operating expenses
|
|
| (0.042)
|
| (0.044)
| |
| Net investment income
|
|
| $ 0.031
|
| $ 0.046
| | Net realized and unrealized gains (losses)
|
|
|
|
| | on investments
|
|
|
| $ (0.129)
|
| $ (0.529)
| |
| Net increase (decrease) in net assets
|
|
|
|
| |
| from operations
|
|
| $ (0.098)
|
| $ (0.483)
| |
|
|
|
|
|
|
|
| | Net Asset Value at March 31 (Common Shares)
|
|
|
| |
| Net assets
|
|
|
| $ 1,148,225
|
| $ 1,166,983
| |
| Shares outstanding
|
|
| 72,381
|
| 71,146
| |
| Net asset value per share outstanding
|
| $ 15.86
|
| $ 16.40
| |
|
|
|
|
|
|
|
| | Market Value Summary (Common Shares)
|
|
|
|
| |
| Market price on NYSE at March 31
|
| $ 16.91
|
| $ 16.54
| |
| High market price (period ended March 31)
| $ 17.33
|
| $ 18.00
| |
| Low market price (period ended March 31)
| $ 16.08
|
| $ 14.77
| | | | | | | | | |
SOURCE Eaton Vance Management
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RELATED LINKS
http://www.eatonvance.com
Aberdeen Australia Equity Fund, Inc. (NYSE AMEX: IAF) (the "Fund"), a closed-end equity fund, announced today that it will pay a quarterly distribution of US 27 cents per share on July 16, 2010 to all shareholders of record as of June 30, 2010 (ex-dividend date June 28, 2010).
The Fund has a managed distribution policy of paying quarterly distributions at an annual rate, set once a year, that is a percentage of the rolling average of the Fund's prior four quarter-end net asset values. In March 2010, the Board of Directors determined that the rolling distribution rate would be 10% for the 12 months commencing with the distribution payable in April 2010. This policy will be subject to regular review by the Fund's Board of Directors. The distributions will be made from current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.
For the 12 months to May 31, 2010, the Fund has paid total distributions amounting to US $0.90 per share. The composition of distributions paid by the Fund since the beginning of the Fund's fiscal year, November 1, 2009, will be estimated through the payment date, and announced at the time of payment of the distribution.
The Fund is managed by Aberdeen Asset Management Asia Limited and advised by Aberdeen Asset Management Limited. The Fund's shares trade on the NYSE AMEX under the symbol "IAF".
If you wish to receive this information electronically, please contact InvestorRelations@aberdeen-asset.com
www.aberdeeniaf.com
Aberdeen Asset Management Asia Limited and Aberdeen Asset Management Limited are registered investment advisers under the Investment Advisers Act of 1940.
SOURCE Aberdeen Australia Equity Fund, Inc.
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RELATED LINKS
http://www.aberdeeniaf.com
Greater China Fund (NYSE: GCH) announces the following Webcast:
If you are unable to participate during the live webcast, the call will be available for replay at http://www.investorcalendar.com/ClientPage.asp?ID=159429 or http://www.investorcalendar.com/
The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation through investing primarily in listed securities of China companies, which are companies that (i) are organized under the laws of, and have their principal place of business in, China or Hong Kong or (ii) during their most recent fiscal year derived at least 50% of their revenues or profits from goods produced or sold, investments made or services performed in China or Hong Kong or have at least 50% of their assets in China or Hong Kong. The Fund's investment adviser is Baring Asset Management (Asia) Limited. For further information on The Greater China Fund, please call (212) 821-3494 or visit www.greaterchinafund.com.
SOURCE Greater China Fund
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RELATED LINKS
http://www.greaterchinafund.com
Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG), a closed-end management investment company, today declared a monthly distribution of $0.09 per common share. As portfolio and market conditions change, the rate of future distributions may change. The distribution is expected to be paid on June 30, 2010, to shareholders of record on June 23, 2010. The ex-date is June 21, 2010.
At this time the Fund believes that a portion of the June distribution may be comprised of amounts from sources other than net investment income. If that is the case, you will be notified in writing. Further information will be available prior to the payment date at http://individuals.eatonvance.com. The final determination of tax characteristics of the Fund's distributions will occur after the end of the year, at which time it will be reported to the shareholders.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $176.2 billion in assets as of April 30, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
SOURCE Eaton Vance Management
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RELATED LINKS
http://www.eatonvance.com
John Hancock Annuities received the highest rating from Corporate Insight's Annuity Monitor for its approach to the account information displays offered to clients on its web site. In the May 27, 2010 issue, Annuity Monitor awarded John Hancock an 'A,' the highest grade, due to its "strong account information display layout and excellent selection of contract information and performance data." The report also says: "Contract information is easy to read and well organized, and information sections can be collapsed and expanded to customize the information display."
The information is accessible by clients and their financial advisors who are registered on the John Hancock Annuities' web site, www.jhannuities.com.
"We are pleased to be recognized by Corporate Insight as an annuity provider that is easy to do business with," said Tom Mullen, Vice President of Marketing, John Hancock Annuities. "John Hancock has been at the forefront of efforts to offer useful, web-based tools to help clients and advisers understand their portfolios and manage them efficiently."
Annuity Monitor also notes other attributes of John Hancock's account information displays: "Navigation menus link to key client resources; Abundance of contract detail provided, including personal rate of return; Investment option summary offers ample data."
Throughout 2009 and into 2010, www.jhannuities.com has introduced numerous upgrades to contract detail information including: faster navigation via a new universal menu that offers direct access to key client resources, newly added help functionality, and emphasis on e-Delivery of statements and notifications.
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$446 billion (US$440 billion) as of March 31, 2010.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE, and PSE, and under "945" on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.
SOURCE John Hancock Annuities
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RELATED LINKS
http://www.jhannuities.com
Pershing LLC, a BNY Mellon company, announced today that it has added Lord Abbett® to FundVest®, Pershing's no-transaction-fee mutual fund platform.
Mutual funds from Lord Abbett are now available to Pershing's introducing broker-dealer customers and the clients they serve, and to independent registered investment advisors and their clients through Pershing's affiliate, Pershing Advisor Solutions LLC. FundVest offers investors access to over 3,700 mutual funds, managed by 230 fund companies. Through FundVest, investors can buy, sell or exchange an array of load and no-load mutual funds through their financial intermediary without incurring regular transaction fees.
Pershing has continued to expand the number of mutual fund families available through FundVest. More than 20 industry-leading mutual fund companies have been added to the platform over the past year, including T. Rowe Price, Franklin Templeton Investments and AllianceBernstein.
Natalie Wolfsen, managing director of the product management and development group at Pershing, said, "We are very pleased to announce the addition of this leading asset management company to our platform. The addition of Lord Abbett to FundVest demonstrates our continued commitment to expand our no-transaction fee mutual fund platform and provide our customers with access to a wide range of investment solutions from high caliber fund companies that will help them assist their clients in achieving their financial objectives."
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately five million active investors. Located in 20 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.
Pershing Advisor Solutions LLC (member FINRA/SIPC) is an affiliate of Pershing LLC and a leading provider of financial business solutions to independent registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Additional information is available at www.pershingadvisorsolutions.com.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon; Pershing LLC
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RELATED LINKS
http://www.bnymellon.com
http://www.pershing.com
Aberdeen Asia-Pacific Income Fund, Inc. (NYSE Amex: FAX) (the "Fund"), a closed-end bond fund, today announced that it paid on June 11, 2010, a monthly distribution of US 3.5 cents per share to all shareholders of record as of May 28, 2010.
Under U.S. tax rules applicable to the Fund, the amount and character of distributable income for each fiscal year can be finally determined only as of the end of the Fund's fiscal year. However, under Section 19 of the Investment Company Act of 1940, as amended (the "1940 Act") and related Rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders.
The following table sets forth the estimated amounts of the sources of the distribution for purposes of Section 19 of the 1940 Act and the Rules adopted thereunder. The table includes estimated amounts and percentages for this distribution and for the cumulative distributions paid year to date, from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated composition of the distributions may vary from month to month because the estimated composition may be impacted by future income, expenses and realized gains and losses on securities.
| Estimated Amounts of Current Monthly Distribution per share ($)
| Estimated Amounts of Current Monthly Distribution per share (%)
| Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share ($)
| Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share (%)
| | |
|
