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Jefferies launches ETF tracking Thomson Reuters/Jefferies CRB-EQ indices


Jefferies has launched the Jefferies TR/J CRB Global Commodity Equity Index Fund, an equity-based exchange traded fund that tracks the overall performance of a commodity equity index.

The ETF trades on NYSE Arca under the ticker symbol CRBQ.

For more than 50 years, the Thomson Reuters/Jefferies CRB Index has served as a measure of the global commodity markets. The new group of CRB-EQ indices will offer investors simplified benchmarks for globally traded equities of companies that are principally engaged in the production and distribution of commodities and commodity-related products and services in the agriculture, industrial metals, energy and precious metals sectors.

The CRB-EQ indices include a composite index on which the first new ETF is based.

These new ETFs will seek investment results that replicate as closely as possible the price and yield performance of the CRB-EQ indices, before fees and expenses.

Adam De Chiara, co-president of Jefferies Asset Management, says: “Unlike many futures-based commodity ETFs, potential new futures regulation should not impact the ability of these ETFs to issue shares. Additionally, there is no schedule K-1 to file, and, since these ETFs are not based on futures, they avoid the cost and complexity of continually buying and selling expiring futures contracts. We believe that the new ETFs will provide much-needed capitalisation for expanding global commodity production. That should be good for consumers, good for producers and good for the global economy.”

Alps Advisors is the investment adviser for the new ETF, and Arrow Investment Advisors is the investment sub-adviser. Alps Distributors is the distributor of the ETF. Alps Fund Services will provide administration, compliance, creative services, fund accounting, legal, marketing, tax administration, transfer agency and shareholder services.

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