![]() Write to Cassandra Sweet at ©2022 Dow Jones & Company, Inc. "This substantial distribution reflects the SEC's ongoing efforts to compensate mutual funds and their shareholders for the harm caused by illegal market timing," said SEC regional director Prudential representatives had defrauded the funds by concealing their identities and those of their customers in order to evade mutual funds' limitations on market timing, the SEC said. In August 2006, the SEC ordered Prudential to pay $600 million, including $270 million to the funds, $325 million to the Justice Department and $5 million to the Massachusetts Securities Division. It is the first disbursement in a series that will return about $270 million to the funds that were hurt by Prudential, which was known at the time as Prudential Securities Inc. There are currently seven indexes in the Alerian Global. They embody certain characteristics that distinguish them from other indexes that attempt to cover the same industry. The Securities and Exchange Commission said it has distributed about $185 million to more than 800 mutual funds hurt nearly four years ago by illegal market timing by Prudential Equity Group. The Alerian Global Alternative Energy Indexes are designed to serve as fair, impartial and transparent measures of the performance of the Alternative Energy Industry. SEC Starts to Disburse Prudential Fund Payments "When people are buying alternative energy stocks, goes up when they're not, it goes down," he said. The fund's recent lackluster performance is directly tied to investor activity in renewable energy stocks, Mr. This intends to give investors a means of tracking the overall. "You won't get those violent spikes up or down, but a more normalized trend line." This product tracks the Ardour Solar Energy Index, a rules-based, modified global-capitalization-weighted, float-adjusted index. "When you put your money into a basket like this, you're hedging your bets," he said. Dive deeper on IXIC with interactive charts and data tables spotlighting movers, gainers and losers. Stock market capitalizations of indexed companies range from about $560 million forĪlthough the fund lags the S&P 500, its variety of stocks tends to result in more-stable overall returns than individual renewable energy stocks or specific industries, such as solar or wind power, Mr. Get quote and chart details for the Ardour Solar Energy Index. Top names include Danish wind-turbine manufacturer Vestas Wind Systems, U.S. 28, according to Van Eck, compared to 53.6% for the S&P 500 over the same period. The fund was up about 29% for the 12 months through Feb. Those pressures have taken a toll on the fund, which is down 10% this year compared with a gain of 4.6% for the Standard & Poor's 500. In addition, a planned reduction in government subsidies for solar power developers in Germany, the world's top solar market, has added further pressure to solar stocks, he said. CentroTherm Photovoltaics, meanwhile, merits a 3.42 weight in the MAC index and no. Overcapacity in the solar and wind-power industries, which are dominant components of the index, have pressured those stocks, saidĪ managing director at Ardour Capital, which built the index. The Ardour Index also has a much higher weight (4.12) in Q-Cells AG, another German solar cell manufacturer.
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