#Ardour solar index series

'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.

#Ardour solar index series

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. 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. 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. The Ardour Solar Energy Index (SOLRX) has experienced recovery after being down 20 in May. 'You won't get those violent spikes up or down, but a more normalized trend line.' Solar stocks were the AGIXLs strongest performers this month.

'When you put your money into a basket like this, you're hedging your bets,' he said.

Stock market capitalizations of indexed companies range from about $560 million forДЄlthough 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. 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. The Index began dissemination on Octowith an initial value of 1000.00. The Solar Index rolls up to the primary sector Renewable Energy Generation Index. LDK Solar, a Chinese producer of multicrystalline solar wafers Solaria Energia Y Medio Ambi, a Spanish manufacturer of solar collectors and Yingli Green Energy Holdings, a Chinese maker of PV modules. The NASDAQ OMX Solar Index is a sub sector index of the Green Economy Index designed to track companies that produce energy through solar power. 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. Ardour Global Index adds new companies in quarterly rebalancing, including US manufacturer Beacon Power. 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. Overcapacity in the solar and wind-power industries, which are dominant components of the index, have pressured those stocks, saidДЄ managing director at Ardour Capital, which built the index.