RBS Securities has floated a new ‘Trendpilot’ ETN, Index Universe reports. The RBS U.S. Mid Cap Trendpilot Exchange Traded Notes will have dual return and expense profiles. The fund will track the S&P MidCap 400 Total Return Index when the market is in uptrend and have ‘hypothetical notional’ exposure to yields on three-month Treasury bills when the market is bearish. The ETF is similar to the RBS U.S. Large Cap Trendpilot Exchange Traded Note linked to the large-cap S&P 500 Total Return Index.
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