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First Trust launches ETF based on smart grid and infrastructure index


First Trust Advisors has launched an exchange-traded fund based on the Nasdaq Clean Edge Smart Grid Infrastructure Index, a benchmark for the smart grid and electric infrastructure sector.

The First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index Fund is managed by First Trust Advisors and listed on Nasdaq.

The index is a modified market-capitalization index and includes companies that are primarily involved in electric grid; electric meters, devices and networks; energy storage and management; and enabling software used by the smart grid and electric infrastructure sector.

The ETF is designed to correspond to the price and yield performance of the index on which it is based.

“First Trust has filled the need for an investment product based on an index that has brought sharper focus to an industry that is transforming our nation’s energy grid,” says Nasdaq OMX executive vice president John Jacobs. “This ETF reflects First Trust’s commitment to extending its suite of products to broaden investor choice.”

“With a growing demand for electricity and the increasingly inefficient infrastructure, the current power grid is unable to keep up with the twenty first century technology,” says Ryan Issakainen, vice president, exchange-traded fund strategist for First Trust Portfolios. “There’s a growing movement towards a next generation power grid – smart grid. Electricity is one of the largest and most capital intensive sectors in our economy and we are tremendously excited about the potential that this industry represents.”

The index is calculated in real-time across the combined exchanges and is disseminated by Nasdaq OMX in US Dollars. The index commenced calculation on 22 September 2009 with a value of 250.00. It is comprised of companies that are screened by Clean Edge.

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