Seeking Alpha

Credit Suisse Merger Arbitrage Liquid Index ETN (CSMA)

  • Mon, Nov. 2, 4:17 AM
    • Although a string of megadeals were unveiled last month, dealmakers have just completed the weakest October for almost 20 years in terms of quantity.
    • According to Thomson Reuters data, $514B worth of deals were disclosed (the fifth-biggest month in M&A history dollar value), but the total number of October's deals was just 2,177, nearly 40% lower than the average.
    • The severe drop in number of deals is an alarm bell for investment banks, whose business models rely on smaller deals rather that the headline-grabbing multibillion-dollar mergers.
    • Still, with close to $4T worth of deals already announced this year, 2015 is on track to beat the all-time record of 2007, when the credit bubble helped generate $4.3T worth of transactions.
    • Previously: M&A deal activity stays on the highway (Aug. 11 2015)
    | Mon, Nov. 2, 4:17 AM | Comment!
  • Tue, Aug. 11, 5:03 AM
    • Global mergers and acquisitions are on pace this year to hit the highest level on record, thanks to record buying sprees from companies on the hunt for growth.
    • According to data provider Dealogic, takeover-deals would reach $4.58T this year if the current pace of activity continues, comfortably above the $4.29T notched in 2007.
    • The latest to add to the tally is Berkshire Hathaway's $37.2B acquisition of Precision Castparts.
    | Tue, Aug. 11, 5:03 AM | 1 Comment
  • Sep. 17, 2014, 1:20 PM
    • The Stock Split Index Fund (NYSE:TOFR) began trading yesterday, marking a break from United States Commodity Funds' historical focus on commodity ETFs.
    • TOFR seeks to capture the price appreciation that can follow stock splits, using the 2 for 1 Index.
    • "Investors and investment professionals have both been taught that stock splits really shouldn't impact a stock's performance, but there has been a lot of material published that demonstrates that stock splits, do in fact, matter" stated John Hyland in a press release.
    • Other alternative
    • Other ETFs invested in company changes: CSD, NFO, RYJ, KNOW, MNA, CSMA, MRGR, ALTL, CSMB
    | Sep. 17, 2014, 1:20 PM | 1 Comment
CSMA Description
The return on the ETNs is based on the performance of the Credit Suisse Merger Arbitrage Liquid Index (Net) (the "CS Merger Arbitrage Liquid Index" or the "Index"). CS Merger Arbitrage Liquid Index is reported on Bloomberg under the ticker CSLABMN and attempts to employ a merger arbitrage strategy by using a quantitative methodology to track a dynamic basket of securities held as long or short positions and cash weighted in accordance with the index rules to reflect publicly announced merger transactions that meet certain qualifying conditions.
See more details on sponsor's website
Country: United States
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub