First Trust Advisors L.P. (“First Trust”), the fastest growing
Exchange-Traded Fund (“ETF”) sponsor among the ten largest sponsors
(by assets raised) since 2010, announced today that Ryan
Issakainen, Vice President, ETF Strategist, will ring the opening
bell of The NASDAQ Stock Market at 9:30 a.m. Eastern Time on
Friday, May 13, 2011, to celebrate the release of the first ETF
focused on the global manufacturing of automobiles. First Trust
executives and guests will participate in the event. The bell
ringing will recognize the launch of the first automotive ETF in
the industry, the First Trust NASDAQ Global Auto Index Fund
(NASDAQ: CARZ), which is expected to begin trading May 10, 2011.
The Fund will seek investment results that correspond generally to
the price and yield (before the Fund’s fees and expenses) of the
NASDAQ OMX Global Auto IndexSM, which is designed to track the
performance of the largest and most liquid companies engaged in the
manufacturing of automobiles.
First Trust believes the timely release of this automotive
ETF recognizes the contributions of the automotive industry to the
world economy and the millions of jobs it generates
worldwide.
“First Trust is pleased to introduce the first global ETF
focused on the automotive industry,” said Ryan Issakainen, Vice
President, ETF Strategist, First Trust Advisors L.P. “We are
launching this fund as a way for investors to potentially
capitalize on the trend toward increasing demand of automobiles
which has led automakers and suppliers to grow in emerging markets
and consolidate operations in mature markets. According to Zacks
Equity Research, the stage has been set for growth over the next
decade with the belief the global auto industry landscape will be
ruled by automakers based in the six major auto markets of China,
India, Japan, Korea, Western Europe and the U.S.”
“The International Monetary Fund projects global GDP growth to
be 4.4% in 2011 and 4.5% in 2012, while emerging economies are
projected to grow by 6.5% in both 2011 and 2012, strong enough to
support further recovery in auto sales in developed markets and
continued growth in the emerging markets,” Issakainen added.
“J.D. Power and Associates expects auto sales in the U.S. to
reach 13 million units, up 12% from 2010. However, in 2010, for the
first time, emerging markets accounted for 51% of global
light-vehicle sales, signaling the shift of power in the global
automotive market that has been taking place during the past five
years. Both China and India ended 2010 with sales of light vehicles
up by more than 30%. Momentum in the emerging markets is expected
to continue throughout 2011, with China as the driver for global
market growth,” Issakainen added.
To view the live webcast of the opening bell, visit the NASDAQ
website (http://www.NASDAQ.com) at 9:25 a.m. (Eastern Time) on
Friday, May 13, 2011.
About First Trust Advisors
L.P.
First Trust Advisors L.P., the Fund’s investment advisor, along
with its affiliate First Trust Portfolios L.P., the Fund’s
distributor, are privately-held companies which provide a variety
of investment services, including asset management, financial
advisory services, and municipal and corporate investment banking,
with collective assets under management or supervision of
approximately $50 billion as of April 30, 2011 through closed-end
funds, unit investment trusts, exchange-traded funds, mutual funds
and separate managed accounts. For more information, please visit
www.ftportfolios.com.
Principal Risk Factors
You should consider the Fund’s investment objectives, risks,
charges and expenses carefully before investing. Contact First
Trust Portfolios L.P. at 1-800-621-1675 or visit
www.ftportfolios.com to obtain a prospectus and summary
prospectus which contains this and other information about the
Fund. The prospectus and summary prospectus should be read
carefully before investing.
Risk Considerations
The Fund’s shares will change in value, and you could lose money
by investing in the Fund. An investment in the Fund involves risks
similar to those of investing in any fund of equity securities
traded on exchanges. One of the principal risks of investing in the
Fund is market risk. Market risk is the risk that a particular
stock owned by a fund, fund shares or stocks in general may fall in
value.
You should anticipate that the value of the shares will decline,
more or less, in correlation with any decline in the value of the
index. The Fund’s return may not match the return of the index. The
Fund may not be fully invested at times. Securities held by the
Fund will generally not be bought or sold in response to market
fluctuations and the securities may be issued by companies
concentrated in a particular industry, region or country.
The Fund’s return may not match the return of the NASDAQ OMX
Global Auto IndexSM. The Fund may not be fully invested at times.
Securities held by the Fund will generally not be bought or sold in
response to market fluctuations. The Fund will invest in stocks of
companies in the automotive industry. You should be aware that an
investment in a portfolio which is concentrated in a particular
industry involves additional risks, including limited
diversification. The automotive industry can be highly cyclical,
and companies in the industry may suffer periodic operating losses.
The industry can be significantly affected by labor relations and
fluctuating component prices. While most of the major manufacturers
are large, financially strong companies, many others are small and
can be non-diversified in both product line and customer base.
An investment in a fund containing equity securities of foreign
issuers is subject to additional risks, including currency
fluctuations, political risks, withholding, the lack of adequate
financial information, and exchange control restrictions impacting
foreign issuers. Risks associated with investing in foreign
securities may be more pronounced in emerging markets where the
securities markets are substantially smaller, less developed, less
liquid, less regulated, and more volatile than the U.S. and
developed foreign markets.
The Fund will invest in the stocks of companies operating in
Japan. Because Japan’s economy and equity market share a strong
correlation with the U.S. markets, the Japanese economy may be
affected by economic problems in the U.S. Japan also has a growing
economic relationship with China and other Southeast Asian
countries, and thus Japan’s economy may also be affected by
economic, political or social instability in those countries.
Japanese securities may also be subject to lack of liquidity;
excessive taxation; government seizure of assets; different legal
or accounting standards and less government supervision and
regulation of exchanges than in the U.S. Furthermore, the natural
disasters that have impacted Japan and the ongoing recovery efforts
have had a negative effect on Japan’s economy, and may continue to
do so.
Opinions and projections are as of the date of release and are
subject to change due to changes in the market or economic
conditions. There is no assurance that the projections will be
realized.
Investors buying or selling fund shares on the secondary market
may incur customary brokerage commissions. Investors who sell fund
shares may receive less than the share’s net asset value. Shares
may be sold throughout the day on the exchange through any
brokerage account. However, shares may only be redeemed directly
from the fund by authorized participants, in very large
creation/redemption units.
This Fund is classified as “non-diversified.” A non-diversified
fund generally may invest a larger percentage of its assets in the
securities of a smaller number of issuers. As a result, the fund
may be more susceptible to the risks associated with these
particular companies, or to a single economic, political or
regulatory occurrence affecting these companies.
Not FDIC Insured • Not Bank Guaranteed • May Lose Value
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