Americas ETP News
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iShares files with the SEC
May 27, 2011--iShares has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
DB Global Equity Index & ETF Research: North America-US ETF Market Weekly Review : Risk-off trade affects ETP flows as QE2's ending looms
May 27, 2011--ETP flows dropped recording a $3.6bn-outflow for the week
US Economic data continues to disappoint and markets seem unconvinced about the economic recovery story, especially now that we approach the end of QE2. Equity markets in the US (S&P 500) slid by 0.34%.
Last week, Total US ETP flows from all products registered $3.6bn of outflows vs $4.7bn of inflows the previous week, setting the YTD weekly flows average at +$2.2bn. US ETP AUM edged a bit lower to $1.078 trillion or 8.3% up YTD.
Market and ETP Flows trends suggest that market participants have engaged in a risk-off trade following April’s rally. We believe that investors are concerned with the continuity of the recovery path once QE2 ends in June. While our data doesn’t suggest that investors are betting on a double dip, it does propose that investor are unwinding some of their risky positions (e.g. Equities, Commodities) in favor of higher quality/safer positions (e.g. IG bonds, Gold, cash). In other words, we could say that investors have shifted from a bullish view on the equity markets to a more neutral one as they wait for further news or data surprises which could shed more light about the economy beyond the ending of QE2.
Long-only equity ETPs recorded $5.0bn of outflows last week vs $4.5bn of inflows the previous week. From a geographic allocation perspective, most of the outflows came from US-focused ETPs (-$4.0bn), while DM ex US, EM, and Global ETPs recorded flows of -$228m, -$953m, and +$149m, respectively.
Long-only Fixed Income ETPs recorded inflows of $1.3bn last week. Corporates had $471m inflows, followed by broad benchmarked funds with $287m. Commodity ETPs recorded outflows of $178m, both agriculture and broad benchmarked products experienced the largest outflows of $54m. Silver and Gold ETPs experienced the largest flows at a sub sector level with $460m of outflows and $434m of inflows, respectively.
New Launch Calendar: More Cars, Inflation Protection and a “new entrant”
There were 10 new ETPs listed during the previous week. These new ETFs offer additional exposure to the global auto industry, inflation protection, HK small caps, and a whole new range of growth/value oriented disciplines
Turnover Review: On Exchange activity down to normal levels
Total weekly turnover decreased by 3.8% to $339bn vs. $353bn in the previous week. Commodity ETPs recorded the largest absolute decrease of $13bn settling at $34bn in weekly turnover, much closer to pre-Silver-bubble levels. Equity ETPs accounted for 86% of all ETP weekly turnover with $292bn. Finally, Fixed Income products turnover totaled $10.8bn at the end of last Friday increasing by 13% from the previous week.
Assets Under Management (AUM) Review: AUM edges lower, losing $7bn
Outflows from ETPs and another negative week for the market shaved $7.0bn from ETP AUM pushing assets 0.6% lower to $1.078 trillion at the end of last week. On a YTD basis, ETP AUM is 8.3% or $83bn higher.
request report
Source: Deutsche Bank Global Equity Index & ETF Research
iShares files with the SEC US may soon regulate foreign finance: report read more Index trackers offer clues to herd behaviour read more Wisdom Tree files with the SEC
WisdomTree Global Natural Resources Fund (GNAT)(formerly, WisdomTree International Energy Sector Fund (DKA)) view filing
FQF Trust files with the SEC view filing FINRA Issues Warning on Stock-Based Loan Programs "Investors who want to tap into the value of their portfolio through a stock loan program should realize that these programs involve significant risk and cost, and may result in unintended tax consequences," said John Gannon, FINRA's Senior Vice President for Investor Education. As Stock-Based Loan Programs: What Investors Need to Know explains, stock-based loan programs allow investors to pledge fully paid stock as collateral for non-recourse loans from third-party lenders, who are generally unregistered and unregulated. These programs, typically marketed by financial planners, investment advisers, insurance agents and others, supposedly allow investors to borrow money against a substantial percentage of their portfolio without giving up the benefits of owning the stock. read more CFTC Staff to Host Public Roundtable to Discuss Swap Data Recordkeeping and Reporting Requirements read more Global X Funds Launches First Fertilizers/Potash ETF (SOIL) read more
May 27, 2011--iShares has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
May 26, 2011--- US authorities may soon seek to regulate foreign entities engaged in financial activities in the country as part of efforts to reduce risk to the economy, the Wall Street Journal has reported.
The Journal said that authorities may soon subject foreign central banks, sovereign-wealth funds and international organizations like the World Bank to new US rules governing derivatives.
Source: EUbusiness
May 26, 2011--If in doubt, blame speculators. That has been the popular political mantra in recent years whenever commodity and energy prices have soared. And events have now poured more fuel on the fire.
On Monday the Commodity Futures Trading Commission announced that it had uncovered evidence that a trading house engaged in oil price market manipulation. While the alleged offences occurred three years ago, it has strengthened popular fear that “speculators” are now pushing around prices – to the detriment of everyone else.
Source: FT.com
May 26, 2011--Wisdom Tree has filed a post-effective amendment, registration statement with the SEC for the
WisdomTree Asia-Pacific ex-Japan Fund (AXJL)(formerly, WisdomTree Pacific ex-Japan Total Dividend Fund (DND))
WisdomTree Australia Dividend Fund (AUSE) (formerly, WisdomTree Pacific ex-Japan Equity Income Fund (DNH))
WisdomTree Commodity Country Equity Fund (CCXE)(formerly, WisdomTree International Basic Materials Sector Fund (DBN))
WisdomTree Global ex-US Utility Fund (DBU) (formerly, WisdomTree International Utilities Sector Fund (DBU))
WisdomTree Global ex-US Real Estate Fund (DRW)(formerly, WisdomTree International Real Estate Fund (DRW))
Source: SEC.gov
May 26, 2011--FQF Trust has filed a pre-effective amendment, registration statement with the SEC for the
QuantShares U.S. Market Neutral Momentum Fund – (MOM)
QuantShares U.S. Market Neutral Value Fund – (CHEP)
QuantShares U.S. Market Neutral Beta Fund – (BTAH)
QuantShares U.S. Market Neutral Size Fund – (SIZ)
QuantShares U.S. Market Neutral Quality Fund – (QLT)
QuantShares U.S. Market Neutral Anti-Momentum Fund – (NOMO)
QuantShares U.S. Market Neutral Anti-Beta Fund – (BTAL)
Source: SEC.gov
May 26, 2011-- The Financial Industry Regulatory Authority issued a new Investor Alert — Stock-Based Loan Programs: What Investors Need to Know — to educate investors about non-recourse stock-based loan programs, including the risks and rewards of these loans. Stock-based loans might be tempting for investors who need cash — or who want to tap the value of their portfolios without selling their investments.
However, as recent FINRA enforcement actions confirm, stock-based loan programs can be risky, especially when they involve non-recourse loans from unregistered, unregulated third-party lenders.
Source: FINRA
May 26, 2011--Staff of the Commodity Futures Trading Commission (CFTC) will hold a public roundtable on June 8, 2011, from 1:00 pm to 5:00 pm to discuss technical aspects of implementing infrastructures for issuance and maintenance of Unique Product Identifiers (UPIs), as they apply to CFTC’s proposed swap data recordkeeping and reporting rules, as well as other CFTC proposed rules, with a focus on the products and entities under the Commission’s jurisdiction. The roundtable will assist the CFTC in the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Unique Product Identifier (UPI) proposed by the Commission in the swap data recordkeeping and reporting rulemaking (Part 45) would categorize swaps according to the underlying products referenced in them. While the UPI would be assigned to a particular level of the taxonomy of the asset class or sub-asset class in question, its existence would enable the Commission and other regulators to aggregate transactions at various taxonomy levels based on the type of product underlying the swap.
Source: CFTC.gov
May 26, 2011--Global X Funds, the New York based provider of exchange traded funds (ETFs), today launched the Global X Fertilizers/Potash ETF (Ticker: SOIL). SOIL offers targeted exposure to fertilizer producers around the world, giving investors access to a critical agricultural and commodity sector.
Global growth is predicted to drive food demand (especially high value foods such as meat, fruit and vegetables) in emerging economies, thereby strengthening demand for fertilizers (Food and Agricultural Organization, 2010). In India, for instance, grain yields are less than one half of those in the US, with improper fertilization being a key reason for lower yields. Farmers require these nutrients to increase crop yields, and fertilizer companies have become the primary producers of commodities that are critical for global food supply growth. China and India alone account for more than 40% of world fertilizer use and China’s annual consumption is expected to return to pre-2008 growth levels of nearly 10% per year.
Source: Global X
