Americas ETP News
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Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
February 28, 2012--Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:
The Toronto Stock Exchange announced today in the Daily Bulletin that the shares of Quest Rare Minerals Ltd. (TSXVN:QRM) will graduate to trade on TSX at the open of trading on Thursday, March 1, 2012.
The ticker symbol will remain "QRM" and the CUSIP number will remain 74836T 10 1. The company will be removed from the S&P/TSX Venture Composite Index after the close of trading on Wednesday, February 29, 2012.
Quest Rare Minerals is also a constituent of the S&P/TSX Venture Select Index. The company will be removed from this index effective after the close of Wednesday, March 7, 2012, at which time it will be listed on TSX.
The company is also a constituent of the S&P/TSX Venture 30 Index. According to methodology, it will remain in this index while trading on TSX until the next semi-annual review of the index in August, 2012.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
State Street Global Advisors Launches New Emerging Markets and Global Equity SPDR Exchange Traded Funds
February 28, 2012--State Street Global Advisors (SSgA), today announced that the SPDR(R) MSCI EM 50 ETF (symbol:EMFT) and the SPDR MSCI ACWI IMI ETF (symbol:ACIM) began trading on the NYSE Arca on February 28, 2012.
The new SPDR ETFs are designed to provide investors with an opportunity to tap into the growth potential of emerging market and international equities.
The SPDR MSCI EM 50 ETF seeks to track the performance of the MSCI EM 50 Index. The Index is a free float-adjusted market capitalization- weighted index that includes 50 of the largest MSCI Emerging Markets Index constituents. To enhance liquidity, the Index applies eligibility screens that exclude smaller emerging market countries and replaces constituent securities for selected markets with depositary receipts. The SPDR MSCI EM 50 ETF expense ratio is 0.50%.
"Against a backdrop of a reduction in emerging market equity values in 2011, the asset class now offers a more attractive entry," said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at State Street Global Advisors. "The launch of the SPDR MSCI EM 50 ETF enhances our emerging market SPDR ETF offering and provides investors with very precise access to a well-established index."
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Source: State Street Global Advisors
DB Global Equity Research:US ETF Market Weekly Review : ETP AUM hits all-time high, driven by market and inflows
February 28, 2012--Net Cash Flows Review
Equity markets kept the momentum last week. The US (S&P 500) was up by 0.33% completing its seventh positive week out of eight this year; other developed and emerging markets outside the US did similarly; the MSCI EAFE (in USD), and the MSCI EM (in USD) were up by 1.70% and 0.49% during the week, respectively.
Moving on to other asset classes, the 10Y Treasury yield fell by 3bps last week, while the DB Liquid Commodity Index increased by 3.6%. Other sectors were all positive, the Agriculture sector (DB Diversified Agriculture Index), Gold, Silver and WTI Crude Oil price increased by 0.18%, 2.85%, 6.37% and 6.33%, respectively. Last but not least, Volatility (VIX) decreased to 17.3 recording a 2.6% decrease during the week.
ETP flows had a bullish week, taking the YTD cash flow figure to $35.8bn. The total US ETP flows from all products registered $4.7bn of inflows during last week vs $2.4bn of outflows the previous week, setting the YTD weekly flows average at +$4.5bn.
ETP markets experienced positive flows across the three major asset classes, with Equity leading the path. Equity, Fixed Income, and Commodity ETPs experienced flows of +$2.4bn, +$1.4bn, and +$0.8bn last week vs. -$4.1bn, +$1.3bn, and +$0.2bn the previous week, respectively.
Within Equity ETPs, US Sector products experienced the largest inflows (+$2.4bn), followed by Mid Cap ETPs (+$0.3bn); while Leveraged vehicles experienced the largest outflows (-$0.2bn). Within Fixed Income ETPs, Corporate products experienced the largest inflows (+$1.0bn), followed distantly by broad benchmarked ETPs (+$0.1bn). Within Commodity ETPs, Gold products recorded the largest inflows (+$0.3bn).
New Launch Calendar: more equity beta and dividend strategies
There were 4 new ETFs listed during the previous week. The new ETFs offer additional exposure to developed and emerging markets in different ways. Two of them offer diversified high beta portfolios on global DM and EM while the other two focus on dividend from Asia Pacific and Global Emerging Markets. (See Figure 18 for details)
Turnover Review: Floor activity decreases on shorter week
Total weekly turnover decreased by 29% to $181bn vs. $300bn in the previous week. The largest decrease was on Equity ETP turnover, which decreased by $87.6bn or 32.6% to $181bn followed by Fixed Income ETP with a 17.8% (-$2.6bn) fall to $11.9bn, while Commodity ETP turnover went on the opposite direction rising by 23.4% (+$3.4bn) to $17.8bn.
Assets Under Management (AUM) Review: AUM at all-time highs
Last week, total ETP assets reached $1.181 trillion, pushed by upside markets and inflows. Assets for equity, fixed income and commodity ETPs moved +$6.4bn, +$2.2bn, and +$4.8bn during last week, respectively. As of last Friday, total assets had grown by 12.9% or $135.2bn YTD.
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Source: Deutsche Bank - Global Equity Research
PowerShares files with the SEC
February 28, 2012--PowerShares has a filed a post-effective amendment, registration statement with SEC.
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Source: SEC.gov
United States Department Of The Treasury: Preliminary Report On Foreign Holdings Of U.S. Securities At End-June 2011
February 28, 2012--Preliminary data from a survey of foreign portfolio holdings of U.S. securities at end-June 2010 are released today on the U.S. Treasury web site. A revised table on Major Foreign Holders of Treasury Securities, where estimates through end-December 2010 are based in part on survey data, is also released.
Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 29, 2011.
The survey was undertaken jointly by the U.S. Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The next survey will be for end-June 2011 and preliminary data are expected to be released by February 28, 2012.
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Source: US Department of the Treasury
Horizons Gold Yield Fund completes conversion into ETF
February 27, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are pleased to announce the conversion of the Horizons Gold Yield Fund (the "Fund") into an open-end exchange traded fund.
The Fund has been renamed the Horizons Gold Yield ETF (the "ETF") and the Class E units of the ETF (the "Class E Units") will begin trading on the Toronto Stock Exchange on February 28, 2012 , under the symbol HGY.
Concurrent with, but unrelated to, the conversion, the ETF will begin issuing Advisor Class units (the "Advisor Class Units") which will also begin trading on the TSX on February 28, 2012 , under the symbol HGY.A.
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Source: Horizons ETFs Management (Canada) Inc
SEC's Paredes calls for new Volcker rule draft
February 27, 2012-- U.S. regulators should scrap a proposal on the Volcker rule that curbs banks' speculative bets, and work on a fresh one that does not threaten the health of markets, a member of the U.S. Securities and Exchange Commission said on Friday.
"There is a considerable risk that as proposed, the regulatory infrastructure to implement the Volcker rule could unduly impede the competitiveness... of our financial markets and hinder the flow of capital," said Republican SEC Commissioner Troy Paredes during a speech at the Practising Law Institute's annual SEC Speaks conference.
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Source: Yahoo News
EGA Emerging Global Shares files with the SEC
February 27, 2012--On February 24, 2012 EGA Emerging Global Shares filed a post-effective amendment, registration statement with the SEC for the EGA Emerging Global Shares Trust.
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Source: SEC.gov
Huntington files with the SEC
February 27, 2012--Huntington Asset Advisors, Inc has filed amended and restated application for exemptive relief with the SEC for actively- managed ETFs.
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Source: SEC.gov
Schwab files with the SEC
February 27, 2012--Charles Schwab has filed an application for exemptive relief with the SEC for actively-managed ETFs with the SEC. The Future Funds may include one or more exchange-traded funds ("ETFs") which invest in other investment companies and/or ETFs ("Fund of Fund ETFs"). All Future Funds that are not Fund of Fund ETFs will operate as an ETF and may operate as a feeder fund ("Feeder Fund") in a master-feeder structure.
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Source: SEC.gov
