The Bank of New York Appointed Servicer and Sub-Advisor for New HealthShares(TM) ETFs
NEW YORK, February 20, 2007 -- The Bank of New York, a global leader in securities servicing, has been appointed servicer and sub-advisor for five new HealthSharesTM exchange traded funds (ETFs) now trading on the New York Stock Exchange. The Bank will provide custody, fund accounting and administration, transfer agency services, and asset management advisory expertise. XShares Advisors LLC, a subsidiary of XShares Group LLC, acts as the investment advisor for the funds.
HealthSharesTM ETFs are organized into therapeutic "Verticals," representing specific areas of the healthcare, life science and biotechnology industries. Each Vertical tracks a collection of large, mid and small-cap stocks that addresses a distinct sub-segment of healthcare, such as the diagnosis and treatment of specific therapeutic areas (e.g., cardiology or cancer) and the development of medical devices (e.g., orthopedic repair or cardio devices).
The new HealthSharesTM family of funds includes HealthSharesTM Cardio Devices ETF, HealthSharesTM Diagnostics ETF, HealthSharesTM Emerging Cancer ETF, HealthSharesTM Enabling Technologies ETF and HealthSharesTM Patient Care Services ETF.
Jeff Feldman, founder and vice chairman of XShares Group, said, "We knew we needed a partner with the depth of expertise and critical knowledge to get us quickly to an effective market launch, as well as offer us a range of services available around the globe. The Bank of New York easily met and exceeded our requirements."
Joseph Keenan, head of investor services sales at The Bank of New York, said, "This new business appointment further solidifies the dominant role the Bank enjoys in the ETF marketplace. We are delighted to partner with HealthShares, who selected us both based upon our ability to deliver an unmatched array of financial services to help bring their innovative new products to market, and for our recognized expertise as an industry leader to help them expand and grow their business."
Through BNY Asset Management, the investment management arm of the firm, the Bank will serve as sub-advisor to the funds and perform the day-to-day portfolio management functions.
The Bank of New York's Investor Services Division supports a comprehensive and flexible range of fund structures around the world, including mutual funds, exchange-traded funds, hedge funds, and unit investment trusts. Teams of dedicated experts are located worldwide, including Bermuda, Brussels, Cayman, Dublin, Florida, Jersey/Guernsey/Isle of Man, London, Luxembourg, New York and Singapore.
BNY Asset Management offers corporations, public funds, Taft/Hartley plans, nonprofit organizations and high net-worth individuals and families a broad range of equity, fixed-income and alternative investment products. With $131 billion in assets under management as of December 31, 2006, BNY Asset Management is one of the largest investment managers in the world.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities. An Investor should consider the fund's investment objective, risks, charges and expenses carefully before investing .For this and more complete information about the fund call 800.925.2870 or visit the website www.healthsharesinc.com for a prospectus. Please read the prospectus carefully before investing. There are risks involved with investing in ETFs including possible loss of money. HealthShares™ are not actively managed and are subject to risks similar to stocks, including those related to short selling and margin maintenance. HealthShares™ ETFs are subject to increased risks associated with investing in a specific sector compared to more a diversified investment.
The prospectus is not an offer to buy or sell the portfolio shares, nor is the fund soliciting an offer to buy its shares in any jurisdiction where the offer or sale is not permitted.
HealthShares™ Funds are distributed by ALPS Distributors, Inc. HSI 144 exp. 3/07/2007
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