“We’re working with the SEC to see that the time out of the market is kept to a minimum,” Belden says.
No doubt investors will be eager to add SEA back into their portfolios once the new fund launches. SEA closed with about $131 million in assets and was one of the year’s top performers, up 22.4% since January. It launched in September 2008 and is a unique way for ETF investors to get exposure to the shipping sector. [5 ETFs Beating the S&P 500.]
SEA is also a unique way to get exposure to the global economic recovery. Newly-crowned middle class residents of emerging markets are buying more goods while exporting countries like China are heavily utilizing shipping to import raw goods and export finished products.
For more stories about the shipping sector, visit our shipping category.
Read the disclaimer; Tom Lydon is a board member of Rydex|SGI, which is owned by Guggenheim.