Recon Capital, an investment firm and Exchange Traded Fund (ETF)
provider, began trading the Recon Capital DAX Germany ETF (NASDAQ:DAX)
on the NASDAQ Global Market today. The ETF provides investors with
access to Germany, the Eurozone's leading economy, with broad and highly
liquid access to leading German blue-chip equities at a total annual
operating expense ratio of 0.45%.
“Germany continues to be among the most promising and compelling
economies in Europe. As the trusted measure of German blue-chips, DAX is
one of the leading indices for financial products in the world. For the
first time, it underlies ETFs in three key financial centers in Europe,
Asia and now the United States,” said Hartmut Graf, chief executive
officer, STOXX Limited. STOXX Ltd. is the marketing agent for the
indices of Deutsche Börse AG and SIX, including the DAX and SMI indices.
DAX measures the development of the 30 largest and most liquid companies
on the German equities market and represents around 80 percent of the
market capitalization in Germany. It currently serves as the basis for
more than 135,000 financial products and is one of the largest
underlyings for derivatives globally.
“Germany is the locomotive of Europe and, with the Recon Capital DAX
Germany ETF, we are giving U.S. investors access to the German equity
market which proved to be comparably robust in displaying higher returns
and lower volatility levels than most of its European counterparts,”
said Garrett Paolella, CEO of Recon Capital. “Recon Capital focuses on
using its investment expertise and operational infrastructure to deliver
market-driven, value-added products that meet the evolving needs of
global investors.”
About Recon Capital Partners:
Recon Capital Partners, LLC is an SEC registered investment adviser
headquartered in Greenwich, Connecticut. Recon Capital provides better
investment solutions for institutional investors, financial
professionals, and individual investors in a liquid, transparent, and
cost effective manner. Recon deploys its strategies through several
formats including its exchange traded fund platform. For more
information, visit http://www.reconfunds.com
and www.reconcapitalpartners.com.
About Deutsche Börse
Deutsche Börse is one of the world’s leading data and technology service
providers for the securities industry with a product and service
offering for issuers, investors, intermediaries and data vendors. The
Group covers the entire value chain from trading, through clearing, to
settlement and securities custody. Deutsche Börse Market Data + Services
encompasses the Group’s extensive market data offering and external
technology and connectivity services. The product and service range
includes real-time and historical data from the Group's trading venues
Eurex and Xetra as well as from cooperation partners. It also
includes exclusive trading signals independent of its platforms such as
economic indicators or macroeconomic news, reference data for more than
1,000,000 securities, approximately 10,500 indices including the STOXX
and DAX index families, superior capital market infrastructure, and
reliable connectivity services.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange
technology, information and public company services across six
continents. Through its diverse portfolio of solutions, Nasdaq enables
customers to plan, optimize and execute their business vision with
confidence, using proven technologies that provide transparency and
insight for navigating today’s global capital markets. As the creator of
the world’s first electronic stock market, its technology powers more
than 70 marketplaces in 50 countries, and 1 in 10 of the world's
securities transactions. Nasdaq is home to more than 3,400 listed
companies with a market value of over $8.5 trillion and more than 10,000
corporate clients. To learn more, visit www.nasdaqomx.com.
Risk considerations
Please consider the investment objectives, risks, charges and
expenses of the Fund carefully before investing. A prospectus with this
and other information about the Fund is available at www.ReconFunds.com
or by calling 203-900-1400. The prospectus should be read
carefully before investing.
The Recon Capital DAX Germany ETF (the "Fund") is registered with the
U.S. Securities and Exchange Commission as a non-diversified, management
investment company, pursuant to the Investment Company Act of 1940. An
investment in the Fund is subject to risk, including the loss of
principal amount invested. There is no guarantee the Fund will achieve
its investment objective. The Fund's shares may be more volatile than
the performance of a broadly diversified portfolio. The Fund is not by
itself a complete or balanced investment program.
Shares of ETFs are bought and sold at market price (not net asset value
(NAV)) and can be acquired or redeemed directly from a fund at NAV in
Creation Units only. Brokerage commissions will reduce returns. Market
returns are based upon the midpoint of the bid/ask spread at 4:00 p.m.
eastern time (when NAV is normally determined for most ETFs) and do not
represent the returns you would receive if you traded shares at other
times.
Market forces may result in shares trading at a significant premium or
discount to NAV. Although the shares are currently listed on an
exchange, there can be no assurance that an active trading market for
the shares will develop or be maintained.
The Fund's performance is expected to be closely tied to social,
political, and economic conditions within Europe and to be more volatile
than the performance of more geographically diversified funds. An
investment in European securities can be adversely affected by a variety
of factors, among which are: restrictions on inflation rates, deficits,
interest rates, debt levels and fiscal and monetary controls imposed by
the European Union or European Monetary Union; historically high
unemployment and significant debt problems in certain European nations;
recently volatility in European financial markets due to concerns about
economic downturns or rising government debt levels. Currently, a
significant portion of the Index is allocated to securities of companies
in France, Germany and Spain.
Recent events have adversely affected the exchange rate of the euro and
may continue to significantly affect every country in Europe, including
countries that do not use the euro. Changes in currency exchange rates
and the relative value of non-U.S. currencies will affect the value of
the Fund's investment and the value of your Fund Shares. Because the
Fund's NAV is determined in U.S. dollars, the Funds NAV could decline if
the currency of the non-U.S. market in which the Fund invests
depreciates against the U.S. dollar, even if the value of the Fund's
holdings, measured in the foreign currency, increases.
The DAX Index and its related trademarks are proprietary to STOXX
Limited. The DAX Index and the related trademarks have been licensed for
certain purposes by Recon Capital. The Recon Capital DAX Germany ETF is
not sponsored, sold, endorsed or promoted by STOXX Limited.
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Recon Capital and Recon Capital Partners are registered with the U.S.
Patent and Trademark Office, and may be registered or pending
registration in other countries. All other trademarks or registered
trademarks are the property of their respective owners.
Copyright Business Wire 2014