Americas ETP News
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State Street unit tackles active ETFs
Firm to partner with others to manage funds
Blackstone to be first joint venture
January 25, 2012--State Street Global Advisors, the third-largest exchange-traded fund provider in the United States, is entering the actively managed exchange-traded fund space, but with a twist.
Unlike other major firms, the State Street Corp unit is not only going to sell its own funds, but also will distribute funds and partner with other asset managers that do not have the regulatory wherewithal to go it alone.
State Street minds assets for hundreds of fund companies globally, with a total of $21.8 trillion in assets under custody, according to the firm.
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Source: Reuters
DB Global Equity Research: US ETF+ Monthly Directory : December 2011 ETPs
January 24, 2012--This document includes all US listed exchange-traded funds (ETFs) and exchange-traded vehicles (ETVs), plus a special section covering exchange-traded notes (ETNs). The directory is organized by asset class and asset-class-related sub sections. Within each sub section it has also been sorted.
For Equity and Fixed Income ETPs it is sorted by country (or sub region for regional products) in alphabetical order and by AUM in descending order, and for the other ETP asset classes it is sorted by sub sector in alphabetical order and by AUM in descending order.
A number of key information points per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions for any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch.
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Source: Deutsche Bank - Global Equity Research
CBOE to launch trading in CBOE Emerging Markets ETF Volatility Index Options on January 31
Jamuary 24, 2012--The Chicago Board Options Exchange (CBOE) announced today that it will begin offering trading in options on the CBOE Emerging Markets ETF Volatility Index (VXEEM) on Tuesday, January 31.
The new options contract follows the introduction of trading in CBOE Emerging Markets ETF Volatility Index security futures (futures symbol:VXEM) at CBOE Futures Exchange (CFE) on January 9, 2012. Investors can use either or both products to hedge emerging markets volatility exposure or to make direct plays on emerging markets volatility.
CBOE Emerging Markets ETF Volatility Index options and security futures are the first of several ETF-based volatility index products planned for launch at CBOE and CFE in 2012.
The calculation of the CBOE Emerging Markets ETF Volatility Index is based on the well-known CBOE Volatility Index® (VIX®) methodology applied to options on the iShares MSCI Emerging Markets Index Fund (stock symbol: EEM), the eleventh most actively traded ETF option atCBOE in 2011. The CBOE Emerging Markets ETF Volatility Index is an up-to-the-minute market estimate of the expected 30-day volatility of EEM, calculated using real-time bid/ask quotes of EEM options that are listed on CBOE.
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Source: WFE
Exchange Traded Concepts Files Sustainable North American Oil Sands ETF
January 24, 2012--Exchange Traded Concepts Trust has filed a registration statement with the Securities and Exchange Commission for the Sustainable North American Oil Sands ETF, the first exchange traded fund that tracks the Sustainable North American Oil Sands Index.
The new ETF will be advised by Exchange Traded Concepts, LLC (ETC) and sub-advised by Index Management Solutions, LLC. Sustainable Wealth Management Ltd. (SWM) will serve as Index Provider and Structured Solutions AG will calculate the Index.
The Fund will be launched utilizing ETC’s ETF-in-a-Box™ turnkey solution, an accelerated, low-cost platform to bring new ETFs to market.
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Source: Exchange Traded Concepts
State Street Global Advisors Issues 2012 ETF & Investment Outlook
January 24, 2012--State Street Global Advisors (SSgA)*, the asset management business of State Street Corporation (NYSE: STT - News), today announced the availability of 2012 ETF & Investment Outlook: Sink or Swim. Developed by the SPDR® ETF Strategy & Consulting Group, the new report features insights on macroeconomic trends impacting the financial markets and examines key developments expected to shape the exchange traded funds (ETF) industry and asset flows in 2012.
According to the report, the US ETF industry grew to over $1.04 trillion in assets under management in 2011 – a 5.5 percent increase from the previous year with investor inflows offsetting declining equity prices. During the year, US ETFs attracted $119 billion of new assets, as investors increased their exposure to fixed income, dividend/fundamental strategies, and developed markets outside the US.
“Despite significant headwinds facing the financial markets in 2011, investors continued to increase their appetite for ETFs, which was evidenced by industry assets crossing the trillion dollar tipping point,” said Kevin Quigg, global head of ETF Strategy & Consulting at State Street Global Advisors. “Our 2012 investment outlook is cautious due to the European debt crisis, however, the ETF industry is well positioned to build on its success in recent years, as awareness of the benefits of ETFs continues to grow.”
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Source: State Street Global Advisors
Officials find Volcker rule difficult to define
January 24, 2012--With attention focused on the November elections, Wall Street is looking to reshape a crackdown on banks that was spearheaded by President Barack Obama.
Regulators have stewed over how to enforce a deceptively simple part of the 2010 Dodd-Frank financial reforms — the “Volcker rule,” named after former Federal Reserve Chairman Paul Volcker — that curbs banks from trading for themselves.
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Source: Politico
BATS Exchange Launches First Primary Listing With iShares ETF Today - New iShares ETFs Begin Trading On BATS Exchange This Week
New iShares ETFs Begin Trading on BATS Exchange This Week
January 24, 2012 -BATS Global Markets (BATS), a global operator of stock and options markets, today announced the iShares MSCI Norway Capped Investable Market Index Fund (BATS: ENOR) will begin trading today on BATS Exchange, the first of nine new exchange traded funds (ETFs) sponsored by BlackRock, Inc.’s (NYSE: BLK) iShares® ETF business scheduled to commence trading on the Exchange beginning this week.
“Today marks an important milestone for BATS and we are pleased to welcome these new investment products from iShares, one of the leading global providers of exchange-traded products, to our market,” said Joe Ratterman, Chairman and CEO of BATS Global Markets. “Our goal is to continue to attract dynamic and innovative companies to our market through our focus on customer needs and market quality.”
The nine iShares funds listing on BATS are based on MSCI indexes and are designed to provide investors an opportunity to access various international markets. Seven of the funds are scheduled to commence trading this week including:
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Source: BATS Global Markets
Van Eck files with the SEC
January 24, 2012--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Morningstar Wide Moat Research ETF.
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Source: SEC.gov
State Street Expands ETF Servicing Capabilities With Enhanced Global Technology
January 24, 2012--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today the expansion of its global servicing capability for exchange traded funds (ETFs). Now leveraging state-of-the-art cloud-enabled technology, State Street’s ETF servicing solution, TotalETF SM, drives full automation throughout the lifecycle of an ETF from the basket-creation process to trade processing and settlement.
The new enhancements provide complete integration to core applications, end-to-end automation and full client transparency via an ETF dashboard available on the company’s client website my.StateStreet.com. Additional functionality includes the geographic expansion of State Street’s Fund Connect ETF order management system and a daily performance attribution capability for ETFs.
“TotalETF will help solve all potential administrative pain points for ETF sponsors globally,” said Frank Koudelka, senior vice president of State Street’s Global Services business.”
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Source: State Street
Vanguard's economic and investment outlook
January 24, 2012--In just-published research, the head of Vanguard's Investment Strategy Group, Joseph Davis, and his colleague, Roger Aliaga-Díaz, discuss the firm's outlook for U.S. economic growth, inflation, interest rates, and returns for stocks and bonds in the decade ahead.
The report also examines the potential implications for strategic asset allocation based on Vanguard's distinct approach to forecasting within the investment industry.
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Source: Vanguard
