Needless to say, the conversations are flowing. Over the course of the past year or so, there has been a good amount of commentary on the four water ETFs that are available to investors today. For reference, these are:

Supporters of green and clean technology, take heart. The news coming out of Europe in the past few days shows unilateral support for a groundbreaking climate package that is set to have far reaching effects for nations moving toward carbon reductions, increased efficiency, and the pursuit of energy independence.

Under the guidance of Summit Chairman and French President, Nicolas Sarkosy, the 20/20/20 plan is an accord by all 27 member states of the European Union to increase energy efficiency, cut carbon emissions and increase renewable sources of energy, each by 20% and all by 2020. Purists and activists are already claiming deficiencies in the agreement, largely in how some Central and Eastern European nations such as Poland are supported by certain subsidies and credits in helping them reach such targets. Poland is 95% dependent on coal power for its electricity needs and has been allowed some concessions to enable the pact to be pushed through.

As the news is breaking about Bernard Madoff and the $50 billion ponzi scheme that has duped the likes of General Electric (GE) and Citigroup (C) as well as hedge fund of funds, affluent individuals and other institutions, it is with painful and somber reflection that we read the noble message carried on this titan's website:

The owner's name is on the door. Clients know that Bernard Madoff has a personal interest in maintaining the unblemished record of value, fair-dealing, and high ethical standards that has always been the firm's hallmark.

Over the years, absolute return approaches have formed the cornerstone of many of our client portfolios, traditionally through hedge fund of fund vehicles and separate account managers. It was with great fanfare then, that we rolled out a range of new ETF portfolios to our clients earlier this year that removed many of the down side operational risks to hedge fund investments with the potential of achieving absolute returns.

By creating risk based portfolios of approximately 20 ETFs with the liquidity, transparency, low cost and tax efficiency that the ETF world allows us to deliver, investors are able to fully engage in the investment process by having complete look through to the portfolio construction.