Dow Jones Indexes has announced the launch of the Dow Jones RBP US Directional Allocation Index, a unique gauge that automatically allocates weights among other indexes that reflect distinct viewpoints on the US market. Constructed as an “index of indexes,” the new gauge reallocates among an “aggressive” index, a “defensive” index and a “market” index—while also allowing the possibility to allocate fully to a cash component—based on an automated system that uses economic and market indicators as inputs.

After the crises of the past, the economies of many African countries are clearly heading for growth. Political and economic stability has increased and the region is set for economic growth of 5.4% in 2012, according to a new study by Commerzbank. Many countries will enjoy even higher growth. Investors can access this potential via a number of low-cost ETFs, including the DB X-tracker MSCI EFM Africa Top 50 Index ETF (XMAF) and the Van Eck Market Vectors Africa Index ETF (AFK).

ProShares, a US-based provider of alternative ETFs, has announced the launch of the ProShares Short Euro ETF (EUFX), the first -1x euro ETF in the United States. EUFX seeks to provide -1x the daily performance of the US dollar price of the euro, before fees and expenses. The ETF has been listed on the NYSE Arca.

The FSA has released a consultation paper that outlines the proposed ban on payments from investment management firms to fund platform companies. At present, providers of investment products generally pay to have their products included on a platform. This cost is then passed on to the investor in the price of the product. To make charges clear to investors, the FSA is proposing a ban on all such payments – a move that should boost low-cost non-rebate-paying products such as ETFs.

Manning & Napier, a NY-based investment management firm with $45bn in AUM, recently announced the launch of the Manning & Napier Goal Collective Investment Trust (CIT) Funds, a suite of ten actively managed target-date funds which will invest in a variety of ETFs. The Manning & Napier Goal CIT Funds provide an opportunity for active management at a lower cost structure while maintaining diversification of asset classes, market sectors, and securities through ETFs.

DB X-trackers has expanded its London-listed emerging and frontier markets offering with the cross-listing of ETFs that provide exposure to the equity markets of Pakistan and Bangladesh. Pakistan and Bangladesh are among the 10 most populated countries in the world and both markets present interesting characteristics. Pakistan has a P/E ratio of just 7 and an attractive dividend yield of 7.41%. Bangladesh, meanwhile, has enjoyed an average annual GDP growth rate of over 6% in the last 5 years and is forecast to maintain this growth through 2016.

Lyxor, one of Europe’s largest ETF providers, has rolled out a new smart beta ETF, the Lyxor ETF EURO SMARTIX iSTOXX 50 Equal Risk (ERC). The ETF, which has been listed on the NYSE Euronext Paris, is indexed to the newly launched EURO iSTOXX 50 Equal Risk Index. Unlike traditional capitalisation-weighted indices, the EURO iSTOXX 50 Equal Risk Index attempts to spread the overall risk of the portfolio equally between the 50 index components.

Swiss & Global Asset Management, manager of the Julius Baer range of funds, has added a series of Julius Baer Smart Equity ETFs to its investment fund range. The Zurich-based company is among the first fund managers in Europe to give investors access to actively managed equity portfolios in an ETF format.

In the second half of 2012 investors will face “a rocky road” compared with the year’s first few months, with the potential “fiscal cliff” in the US as well as Europe’s ongoing turmoil both posing risk to a still weak global recovery, according to Russ Koesterich, Global Chief Investment Strategist for BlackRock’s iShares business.

S&P Indices has announced the launch of the S&P/OIC COMCEC 50 Shariah Index, an index designed to measure the performance of 50 leading Shariah-compliant companies from the member states of the Organisation of Islamic Cooperation (OIC). The index has been designed in partnership with the OIC. Companies from all 19 countries and territories whose exchanges are members of the OIC Exchanges and are covered by S&P Indices are eligible for the index.