Investment industry

Dutch bank ABN AMRO former employees set up their own company in the Netherlands and Britain, called Aethra Asset Management. The new company will service institutional clients and retail investors too. Aethra’s first products will be created by employees who focus on tactical asset allocation and European growth stocks.

Wells Fargo revealed its plans to invest $208,000 in the US Pan Asian American Chamber of Commerce (USPAACC) Education Foundation for a national research study of the characteristics and interests among business owners in the six largest Asian American ethnic groups: Chinese, Asian Indian, Filipino, Korean, Vietnamese and Japanese.

ProShares, part of ProFunds Group, has assigned J.P. Morgan Worldwide Securities Services to service eight newly established international exchange traded funds of ProShares. 

64 of ProShares’ equity and fixed income ETFs with total assets of $25 billion are already offered by custody, fund accounting and fund administration practices provided by J.P. Morgan WSS. The number of ProShares ETFs serviced by J.P. Morgan now totals 72. 

Investment manager MacroMarkets launched exchange-traded products on the NYSE Arca on Tuesday. These new exchange-listed securities will enable investors to bet for or against a recovery in the residential real estate market with which the movements of U.S. home prices will be imitated. The ascent in U.S. housing prices will be reflected by the rise of the MacroShares Major Metro Housing Up whereas MacroShares Major Metro Housing Down profits when real estate values fall.