"We believe this ETF provides financial advisors and their clients with a simple and convenient way to capitalize on U.S. IPOs," said Dan Waldron, Vice President of ETF Product Development at First Trust Advisors L.P. "We're delighted to have great strategic partners in IPOX Schuster LLC, Goldman Sachs, The Bank of New York, and the American Stock Exchange in the launch of our third ETF."
The First Trust IPOX-100 Index Fund seeks investment results that correspond generally to the price and yield of the U.S. IPOX-100 Index.
"We are excited to welcome First Advisors L.P. back to the Amex for their third ETF listing," said Cliff Weber, Senior Vice President of the ETF Marketplace at the Amex. "The First Trust IPOX-100 Index Fund provides a unique investment opportunity and we are proud to have partnered with First Trust Advisors L.P. to bring this innovative product to the marketplace."
The U.S. IPOX-100 Index is a modified value-weighted price index measuring the performance of the top 100 companies ranked quarterly by market capitalization in the U.S. IPOX Composite Index. The U.S. IPOX-100 Index utilizes a 10% capping on all constituents and includes the100 largest, and typically most liquid IPOs in the U.S. IPOX Composite Index.
The specialist for the First Trust IPOX-100 Index Fund is Goldman Sachs Execution and Clearing LP.
