Americas ETP News
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Vanguard's Canadian funds may be managed - or not
June 7, 2011--Investment giant Vanguard Group Inc. has confirmed the long-anticipated launch of its "Canadian investment business" but it's not yet clear whether it will be offering mutual funds, exchange-traded funds or both.
A press release issued Monday is frustratingly vague about what kinds of products the new Vanguard Canada actually plans to sell, leaving pundits to speculate about its statement that its "initial focus in Canada will be to offer investment products to Canadian investors through investment advisors."
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Source: National Post
Direxion files with the SEC -3 ETFs
June 7, 2011-Direxion has filed a post-effective amendment, registration statement with the SEC for the Direxion NASDAQ-100® Equal Weighted Index Shares (QQQE) and
Direxion NASDAQ Volatility Index Shares (QVOL)
Direxion Wireless Communications Shares
view filing
Source: SEC.gov
Schwab files with the SEC
June 7, 2011-Charles Schwab has filed an application for amended relief with the SEC.
view filing
Source: SEC.gov
FaithShares Shutters 4 Of Its 5 ETFs
June 6, 2011--One of the first family of ETFs aimed at socially responsible investors is planning to close most of its funds by July 15, according to a filing to the SEC.
FaithShares Advisors says it’ll keep open its broadest-based ETF, the Christian Values Fund (FOC). Set to shutter are:
The FaithShares Baptist Values Fund (FZB)
The FaithShares Catholic Values Fund (FCV)
The FaithShares Lutheran Values Fund (FKL)
The FaithShares Methodist Values Fund (FMV)
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Source: Barron
Claymore files with the SEC-2 ETFs
June 6, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim Small-Mid Cap BRIC ETF and
the Guggenheim International High Dividend ETF
view filing
Source: SEC.gov
Claymore files with the SEC
June 6, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim ABC High Dividend ETF.
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Source: SEC.gov
XTF Capital Corp. Launches Canada's First Convertible Bond ETF-Canadian Convertible Liquid Universe ETF
June 6, 2011--- XTF Capital Corp., a First Asset Company, is pleased to announce the launch of Canada's first Convertible Bond ETF - Canadian Convertible Liquid Universe ETF (the "Convertible Bond XTF").
This will mark the fifth exchange-traded fund launched by XTF Capital this month. The Convertible Bond XTF will begin trading on the Toronto Stock Exchange ("TSX") on Tuesday, June 7, 2011 under the symbol CXF (for its Common Units) and CXF.A (for its Advisor Units).
A UNIQUE ETF FROM LARGEST MANAGER OF CONVERTIBLE BONDS
"The Convertible Bond XTF is unique to Canada," said Barry Gordon, President and CEO of XTF Capital Corp. and First Asset. "Our deep experience with convertible bonds puts XTF Capital Corp. in a position to properly assess the eligible universe and make the subtle decisions for inclusion or exclusion from the portfolio." Mr Gordon also noted that convertible bonds are not uniform in structure and have many different call and conversion features. He added that the Convertible Bond XTF follows a rules-based methodology of portfolio construction, but the Manager must have an override to include or exclude particular bonds in order to capture special situations.
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Source: XTF Capital
Official Dollarization as a Monetary Regime: Its Effects on El Salvador -IMF Working paper
June 6, 2011--This paper examines El Salvador’s transition to official dollarization by comparing aspects of this regime to the fixed exchange rate regime prevailing in the 1990s. Commercial bank interest rates are analyzed under an uncovered interest parity framework, and it is found that dollarization lowered rates by 4 to 5 percent by reducing currency risk.
This has generated net annual savings averaging ½ percent of GDP for the private sector and ¼ percent of GDP for the public sector (net of the losses from foregone seigniorage). Estimated Taylor rules show a strong positive association between Salvadoran output and U.S. Federal Reserve policy since dollarization, implying that this policy has served to stabilize economic activity more than it did under the peg and more than policy rates in Central American countries with independent monetary policy have done. Dollarization does not appear to have affected the transmission mechanism, as pass-through of monetary policy to commercial interest rates has been similar to pass-through under the peg and in the rest of Central America.
view the IMF Working paper-Official Dollarization as a Monetary Regime: Its Effects on El Salvador
Source: IMF
iShares files with the SEC
June 6, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Floating Rate Note Fund.
view filing
Source: SEC.gov
Pimco files with the SEC
June 6, 2011-Pimco has filed a post-effective amendment, registration statement with the SEC for the PIMCO Foreign Currency Strategy ETF.
view filing
Source: SEC.gov
