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First Trust files with the SEC
June 15, 2011--First Trust has filed a post-effective amendment No.52, registration statement with the SEC for the First Trust ISE Global Oil Refiners Index Fund.
view filing
Source: SEC.gov
Treasury International Capital Data For April
June 15, 2011--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for April 2011. The next release, which will report on data for May 2011, is scheduled for July 18, 2011.
Net foreign purchases of long-term securities were $30.6 billion.
Net foreign purchases of long-term U.S. securities were $44.8 billion. Of this, net purchases by private foreign investors were $18.6 billion, and net purchases by foreign official institutions were $26.2 billion.
U.S. residents purchased a net $14.2 billion of long-term foreign securities. Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $18.9 billion. Foreign holdings of dollar-denominated short-term U.S. securities, including U.S. Treasury bills and other custody liabilities, decreased $8.0 billion. Foreign holdings of U.S. Treasury bills decreased $13.4 billion. Banks’ own net dollar-denominated liabilities to foreign residents increased $57.4 billion. Monthly net TIC flows were $68.2 billion. Of this, net foreign private flows were $29.9 billion, and net foreign official flows were $38.3 billion.
view data
Source: US Depaertment of the Treasury
Component Changes Made to Dow Jones Islamic Market Indexes
Press ReleasesMarket ReportsBiographiesContact UsVideo InterviewsComponent Changes Made to Dow Jones Islamic Market Indexes
Regular Annual and Quarterly Review Results
June 14, 2011--Dow Jones Indexes, a leading global index provider, today announced the results of the regular annual review of the Dow Jones Islamic Market Titans 100 Index and its three sub-indexes, Dow Jones Islamic Market U.S. Titans 50 Index, Dow Jones Islamic Market Asia/Pacific Titans 25 Index and Dow Jones Islamic Market Europe Titans 25 Index as well as the Dow Jones Islamic Market Malaysia Titans 25 Index and the regular quarterly review of the Dow Jones Islamic Market World, Country and Regional indexes.
All changes will be effective after the close of trading on Friday, June 17, 2011.
In the Dow Jones Islamic Market Titans 100 Index and sub-index Dow Jones Islamic Market U.S. Titans 50 Index, Exelon Corp. (United States, Utilities, EXC) and Medco Health Solutions Inc. (United States, Health Care, MHS) will be replaced by Accenture PLC Cl A (United States, Industrial Goods & Services, ACN) and Baker Hughes Inc. (United States, Oil & Gas, BHI).
In the Dow Jones Islamic Market Titans 100 Index and sub-index Dow Jones Islamic Market Asia/Pacific Titans 25 Index, Daiichi Sankyo Co. Ltd. (Japan, Health Care, 4568.TO) and Kao Corp. (Japan, Personal & Household Goods, 4452.TO) will be replaced by Rio Tinto Ltd. (Australia, Basic Resources, RIO.AU) and Inpex Corp. (Japan, Oil & Gas, 1605.TO).
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Source: Dow Jones Indexes
U.S. Agencies Adopt A Final Rule To Establish A Risk-Based Capital Floor
June 14, 2011--Three federal banking regulatory agencies adopted a final rule that establishes a floor for the risk-based capital requirements applicable to the largest, internationally active banking organizations.
The rule, finalized by the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, is consistent with the requirements of Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
A banking organization operating under the agencies' advanced approaches risk-based capital rules is required to meet the higher of the minimum requirements under the general risk-based capital rules and the minimum requirements under the advanced approaches risk-based capital rules.
The rule also provides limited flexibility to establish appropriate capital requirements for certain low-risk exposures that, in general, are not held by insured depository institutions, but may be held by depository institution holding companies or nonbank financial companies supervised by the Federal Reserve Board.
The final rule will be effective 30 days after publication in the Federal Register; publication is expected soon.
view the Risk-Based Capital Standards: Advanced Capital Adequacy Framework—Basel II;
Establishment of a Risk-Based Capital Floor
Source Federal Reserve
Morgan Stanley-US ETF Weekly Update
June 14, 2011--Weekly Flows: $399 Million Net Outflows
Launches: 7 New ETFs
Guggenheim Changes Index on 1 ETF
US-Listed ETFs: Estimated Flows by Market Segment
ETFs exhibited net outflows of $399 million last week; 2nd consecutive week of net outflows
US Large-Cap ETFs posted the largest net outflows over the past 1- and 4-week periods
SPY accounted for roughly 60% of US Large-Cap net outflows over both timeframes
ETF assets stand at $1.1 trillion, up 5.5% YTD; combination of market appreciation and net new money
13-week flows remained mostly positive among asset classes
$31 billion net inflows into ETFs over past 13 weeks (Fixed Income up $10.0 bln; Commodity down $2.7 bln)
We estimate ETFs have generated net inflows 14 out of 23 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
iShares Russell 2000 Index Fund (IWM) & iShares Russell Midcap Index Fund (IWR) posted the
largest net inflows last week while SPDR S&P 500 ETF (SPY) posted the largest net outflow
IWM & IWR accounted for 243% and 165% of US Small-/Micro-Cap and US Mid-Cap net inflows, respectively
Interestingly, iShares S&P SmallCap 600 Index Fund (IJR) & iShares S&P MidCap 400 Index Fund (IJH)
posted net outflows of $137 mm and $100 mm last week
5 of the top 10 ETFs to post the largest net inflows last week were from the suite of Select Sector SPDR ETFs
US-Listed ETFs: Change in Short Interest
SPY exhibited the largest increase in USD short interest since last updated
Roughly $2.3 billion in additional short interest
Second highest level of shares short for SPY since 8/31/10 (recent high for shares short posted on 4/29/11)
EFA exhibited the largest decline in USD short interest since last updated
Roughly $467 million in reduced short interest
EFA is coming off of its highest level for shares short since 10/29/10
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Source: Morgan Stanley
BrightScope Announces the Top 20 Exchange-Traded Funds Held in America's 401k Plans
June 14, 2011--BrightScope, a leading provider of independent financial information and investment research, today announced the Top 20 Exchange-Traded Funds (ETFs) Distribution List for the 401k and defined contribution industry. This list is part of a series of rankings BrightScope will regularly publish to provide investment managers, mutual fund companies, investors, and others with more insight into the top funds and managers in the retirement marketplace.
The proliferation of this critical information will dramatically increase the efficiency of the marketplace and lead to lower cost plans and better outcomes for the 60 million Americans who depend on their 401k plan for retirement.
“ETFs are off to a slow start in terms of their distribution in 401k plans but we expect their prevalence to grow dramatically in the future as plan sponsors begin to understand the benefits of including them on plan menus,” said Mike Alfred, co-founder and CEO of BrightScope. “The risks of ETFs have been wildly exaggerated. In many ways, ETFs are actually less risky than other instruments if the focus is on long-term returns.”
Since its infancy, the 401k marketplace has suffered from a lack of quality data that is comprehensive enough to be useful for most strategic functions. Historically, it has been virtually impossible to determine a specific mutual fund’s total distribution in 401k plans.
BrightScope’s revolutionary database includes a detailed investment menu on more than 50,000 plans, representing nearly 90 percent of all the assets in 401ks. With this dataset, BrightScope is able to provide detailed analysis of total fund distributions.
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Source: BrightScope
First US Real Estate Small Cap ETF (ROOF) Launched by IndexIQ
IQ US Real Estate Small Cap ETF (NYSE Arca: ROOF) is intended to serve as a unique new income producing solution and complement to large-cap US real estate exposure; Holdings cover wide range of small-cap REITs
June 14, 2011--IndexIQ, a leader in developing index-based liquid alternative investments, including absolute return, real asset and international strategies, is set to launch the IQ US Real Estate Small Cap ETF (Ticker: ROOF) on the NYSE Arca platform this morning, it was announced today.
ROOF, a unique new ETF designed to be income producing, is the first Exchange-Traded Fund (ETF) dedicated to providing access to the small-cap US real estate sector and will include exposure to a wide variety of small-cap Real Estate Investment Trusts (REITs), including Mortgage REITs, Retail
REITs, and Office REITs which made up 20.73 percent, 17.97 percent, and 17.68 percent, respectively, of
the fund’s underlying index as of May 31, 2011. Hotel, Diversified, Specialized (including medical, warehousing & self-storage) and Residential REITs will also be represented as well.
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Source: Index IQ
State Street US ETF Snapshot: May 2011
June 14, 2011--As of May 31, 2011, 1,074 Exchange Traded Funds (ETFs)—with assets totaling $1.10TN—were managed by 35 ETF managers.
ETF industry assets fell $22.7BN for the month—down 2.0%.
The ETF Industry saw a 2.0% decline in assets during May. However, the Fixed Income category experienced a sizeable gain ($5.3BN).
STATE STREET HIGHLIGHTS, MAY 2011
Investing in International Inflation Protected Bonds
The SPDR® DB International Government Inflation Protected Bond ETF [WIP] provides exposure to the inflation-linked government bond markets of developed and emerging market countries outside the United States.
The Index includes government inflation-protected securities in 14 currencies and from 17 countries.
ETF Industry Detail
US Bonds were positive with the Barclays U.S. Treasury Index up 1.6% and the Barclays U.S. Aggregate Index rising 1.3%. The S&P 500® Index lost 1.1%, while the MSCI EAFE® Index dropped 2.8%. The S&P® GSCI Index declined 6.9% even though Gold remained flat.
Fixed Income assets gained $5.3BN.
FLOWS
ETF flows were negative in May, down $218MM, the first month of outflows since August of 2010. The Size - Large Cap category had the most outflows, losing $8.0BN, following an April in which it saw $6.7BN in inflows. The Commodity category also had a large amount of outflows, with $3.4BN leaving the category.
Manager and Fund Detail
The top three managers in the US ETF marketplace were: BlackRock, State Street, and Vanguard. Collectively, they account for approximately 83% of the US listed ETF market.
The top three ETFs in terms of dollar volume traded for the month were the SPDR S&P 500 [SPY], iShares Russell 2000 [IWM], and iShares Silver Trust [SLV].
•The top three ETFs in terms of assets for the month were the SPDR S&P 500 [SPY], SPDR Gold Shares [GLD], and Vanguard Emerging Markets [VWO].
visit www.spdrs.com for more info
Source: State Street Corporation
Component Changes Made to Dow Jones Country Titans Indexes
June 14, 2011--Dow Jones Indexes, a leading global index provider, today announced the results of the regular quarterly review of the Dow Jones Country Titans Indexes. Changes being announced today will be effective after the close of trading on Friday, June 17, 2011.
In the Dow Jones Canada Titans 60 Index, Sino-Forest Corp. (Canada, Basic Resources, TRE.T) will be replaced by MEG Energy Corp (Canada, Oil & Gas, MEG.T). The total free-float market capitalization of the reconstituted Dow Jones Canada Titans 60 Index increased to US$1.148 trillion from US$1.143 trillion as of June 13, 2011.
The Dow Jones Canada Titans 60 Index measures the performance of 60 leading stocks traded in Canada.
Further information on the Dow Jones Country Titans Indexes can be found at www.djindexes.com
Rivermark Finds 80.6% of Advisors Agree: “No More Commodity ETFs”
New Study Finds Staggering Number of Advisors Not Considering New Commodity ETFs; Most Cite “Oversaturation” of the Marketplace as the Top Reason
June 14, 2011-A staggering number of Registered Investment Advisors will not recommend new commodity ETFs to their clients, according to a new study released today by Rivermark Research, a privately held research and consulting firm that specializes in demand and competitive intelligence for ETFs and Mutual Funds.
The study, commissioned by a private party, asked RIA respondents whether they believe ETF sponsors should continue to bring new commodity investments to market.
80.6 % of advisors surveyed say new commodity ETFs are unnecessary, with most advisors listing “oversaturation” of the marketplace as the number one reason, followed by “product complexity” and “risk.”
25.2 % of advisors surveyed also believe new ETF products -- outside of commodity funds -- will not serve a purpose in their clients’ portfolios.
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Source: Rivermark Research LLC
