Printer Friendly

American Stock Exchange Lists First Actively-Managed Exchange Traded Fund.

NEW YORK, March 25 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today launched trading in the Bear Stearns Current Yield Fund managed by Bear Stearns Asset Management (BSAM). YYY is the first actively-managed exchange traded fund (ETF) to become available to investors.

"Amex is proud to partner with Bear Stearns Asset Management to introduce the first, and much anticipated, actively-managed ETF to the marketplace. We are excited to mark another important milestone in the development of the ETF industry," said Scott Ebner, Senior Vice President of the Amex ETF Marketplace. "YYY provides investors with access to a transparent, professionally managed portfolio of short-term fixed income securities."

YYY seeks as high a level of current income as is consistent with the preservation of capital and liquidity. The portfolio manager seeks to attain the Fund's objective by investing primarily in short-term debt obligations, including U.S. government securities, bank obligations, corporate debt obligations, mortgage-backed and asset-backed securities, municipal obligations, foreign bank obligations, foreign corporate debt obligations, repurchase agreements and reverse repurchase agreements.

Unlike an index fund which aims to achieve the total return of the securities comprising a specified market index, YYY is actively-managed by its portfolio manager. The portfolio manager has the discretion to choose securities for the Fund's portfolio consistent with the Fund's investment objective.
 Goldman Sachs Execution & Clearing, LP is the specialist for YYY.

 About the American Stock Exchange

The American Stock Exchange(R) (Amex(R)) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 382 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit

CONTACT: Bari Trontz, of American Stock Exchange, +1-212-306-8964,

Web site:
COPYRIGHT 2008 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 25, 2008
Previous Article:Hot Information for Physicians Treating Vasomotor Symptoms During the Menopausal Transition.
Next Article:Sino Gas International Holdings, Inc. Announces Conference Call to Discuss Fiscal Year 2007 Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters