BNP Paribas To Begin Trading The STREAM S&P Dynamic Roll Global Commodities Fund Today (BNPC)
BNP Paribas has announced that they will begin trading The STREAM S&P Dynamic Roll Global Commodities Fund (NYSEARCA:BNPC) Today, Wednesday, June 6, 2012. The STREAM S&P Dynamic Roll Global Commodities Fund (the “Fund”) invests in exchange-traded futures on the commodities comprising the S&P GSCI Dynamic Roll Excess Return Index (the “Index”) with a view to tracking the Index over time. The Index aims to reflect the return of an investment in a world production-weighted portfolio comprised of the principal physical commodities that are the subject of active, liquid futures markets.
The STREAM S&P Dynamic Roll Global Commodities Fund (the “Fund”) is managed by BNP Paribas Quantitative Strategies, LLC (the “Managing Owner”). It seeks to track changes, whether positive or negative, in the level of the S&P GSCI Dynamic Roll Excess Return Index1 (the “Index”).
The Index is designed as a benchmark for investment in the commodity market and aims to reflect the return of an investment in a world production-weighted portfolio comprised of the principal physical commodities2 that are the subject of active, liquid futures markets.
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The Index utilizes a dynamic rolling strategy to determine the new futures contracts for the underlying commodities that seeks to maximize yield from rolling long futures contracts in backwardated markets and minimize roll loss from rolling long futures contracts in contangoed markets. A “backwardated” market means a market in which the prices of certain commodity futures contracts are higher for contracts with shorter-term expirations than for contracts with longer-term expirations. A “contangoed” market means a market in which the prices of certain commodity futures contracts are lower for contracts with shorter-term expirations than for contracts with longer-term expirations.
The Fund is designed for investors looking for a convenient way to gain an exposure to a diversified selection of commodities and an index strategy that seeks to serve as a benchmark for commodity market returns. Investors can buy and sell shares in the Fund at the market price on NYSE Arca, Inc. Ordinary brokerage commissions apply. Shares may only be redeemed directly from the Fund by Authorised particpants in blocks consisting of 40,000 shares.
For the complete procpectus click: HERE
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