Americas ETP News
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Russell files with the SEC
April 18, 2011--Russell has filed a sixth amended and restated application with the SEC for exemptive relief.
view filing
Source: SEC.gov
Morgan Stanley Exchange-Traded Funds Overview and Strategies
April 18, 2011--US-Listed ETF Growth
Exchange-Traded Funds (ETFs) generally own diversified baskets of securities but trade as individual stocks
ETFs increasingly provide exposure to alternatives such as currencies and commodities
Most are designed to track the performance of well-known or proprietary indices
There are 1,034 ETFs with roughly $1.1 Trillion in assets and $65 Billion in average daily trading volume
Market share of monthly ETF volume as a % of listed volume has more than doubled over 5 years
ETF assets have gained ground on traditional mutual funds (ETF assets are 8.5% of mutual fund assets)
Market Outlook
ETF Market Growth
Assets should grow ~ 10-15% per year in net new money
Number of new listings may slow from 2007 peak as most market segments are covered
Industry Trends
Slicing and dicing will continue
First-to-market continues to be an advantage
More actively managed ETFs will become available
Issuer Trends
Largest firms will continue to have majority of market share
Well-known indexes, marketing/sales support, websites, capital, relationships with market makers
Other major mutual fund companies will enter the market
Possible acquisitions
Additional partnerships
Smaller firms will struggle for market share and close smaller ETFs
143 ETFs have liquidated since beginning of 2008
request report
Source: Morgan Stanley
Statement Regarding H.R. 1573-
Commissioner Bart Chilton
April 15, 2011-"While I appreciate and agree with those that want to ensure regulatory reforms are drafted in an appropriate fashion and not done in a hasty manner due to stringent timetables, legislation to delay the Dodd-Frank Wall Street Reform and Consumer Protection Act is not needed in my opinion.
Regulatory reforms are important to implement correctly, but they are also time-sensitive. Hundreds of trillions of dollars in trading remain completely unregulated. It is exactly this "dark" trading that helped lead to a hideous bail-out paid for by taxpayers.
While regulatory agencies may not be able to make every deadline required under the reform bill, because we want to fine-tune such rules and regulations, the urgency Congress has already placed on getting reforms implemented is just as important today as it was when this good and needed legislation became law."
Source: CFTC.gov
BlackRock Canada launches six news iShares ETFs
New iShares ETFs Offer Investors Global Access and Sector Specificity
April 18, 2011-- BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect, wholly-owned subsidiary of BlackRock, Inc., today announced the launch of six new iShares Exchange-Traded Funds (ETFs). Several of these funds have been constructed to meet investor demand for income while others offer access to local and global sectors—in some cases, for the first time in Canada. The six new ETFs have closed the initial offering of their units and will begin trading on the Toronto Stock Exchange today.
"Investor appetite for sector-specific exposure remains strong as many seek to diversify portfolios by industry," said Mary Anne Wiley, Managing Director, Head of iShares Distribution at BlackRock Canada. "These new funds will offer investors even greater opportunity to target their portfolios by sector both within and beyond our market."
The six new ETFs offer sector concentration, income generation or both including:
•The iShares S&P® Global Healthcare Index Fund (CAD-Hedged) (XHC), with a management fee of 0.63%, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P Global 1200 Health Care Canadian Dollar Hedged Index, net of expenses. XHC delivers access to a sector that is virtually unrepresented in the Canadian equity market, yet is considered a good defensive sector. XHC's expected income distribution frequency is semi-annually.
read more
Source: Marketwire
Morgan Stanley-US ETF Weekly Update
April 18, 2011--Weekly Flows: $1.0 Billion Net Outflows
ETFs Traded $318 Billion Last Week
Launches: 5 New ETFs
Columbia Management to Acquire Grail Advisors
WisdomTree to Make Changes to Nine ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs reversed course last week, posting net outflows of $1.0 billion
US Sector & Industry ETFs were the biggest drag on flows, exhibiting net outflows of $2.9 billion
ETF assets stand at $1.1 trillion, up 8% YTD; combination of market appreciation and net new money
13-week flows were mostly positive among asset classes
$26.2 billion net inflows into ETFs over past 13 weeks (International-Developed took in $10.5 billion)
EM Equity ETFs posted meaningful net outflows of $5.7 billion over the past 13 weeks, but have exhibited net
inflows for five consecutive weeks of $5.6 billion
US-Listed ETFs: Estimated Largest Flows by Individual ETF
iShares MSCI Germany (EWG) posted net inflows of $735 million last week, the most of any ETF
Energy Select Sector SPDR (XLE) exhibited the largest net outflows last week amid a pullback in oil prices
Despite net inflows last week, the SPDR S&P 500 ETF (SPY) had the largest net outflows over the past 4- and
13-week periods
US-Listed ETFs: ETF Dollar Volume
ETF monthly $ volume increased to 30% of listed trading volume in March (up from 25% in February)
Weekly ETF $ volume was up 9% last week from the prior week
US Large-Cap ETFs accounted for 39% of weekly ETF volume, but made up only 21% of market cap
request report
Source: Morgan Stanley
Ameriprise moves into exchange-traded funds
April 15, 2011-- Ameriprise Financial Inc. has agreed to acquire a San Francisco-based fund company that will give it a toehold in the rapidly expanding world of exchange-traded funds, or ETFs.
The Minneapolis-based money manager and insurer announced plans to buy Grail Advisors, an investment adviser that has $23 million in assets and specializes in actively managed ETFs. Terms of the transaction were not disclosed.
read more
Source: Star Tribune
Global X has filed with SEC
April 15, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for the Global X MLP Infrastructure ETF and
Global X MLP Natural Gas ETF
view filing
Source: SEC.gov
Treasury International Capital Data for February
April 15, 2011--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for February 2011. The next release, which will report on data for March 2011, is scheduled for May 16, 2011.
Net foreign purchases of long-term securities were $26.9 billion.
Net foreign purchases of long-term U.S. securities were $32.4 billion. Of this, net purchases by private foreign investors were $12.2 billion, and net purchases by foreign official institutions were $20.2 billion.
U.S. residents purchased a net $5.5 billion of long-term foreign securities.
Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $16.2 billion.
Foreign holdings of dollar-denominated short-term U.S. securities, including U.S. Treasury bills and other custody liabilities, decreased $1.8 billion. Foreign holdings of U.S. Treasury bills decreased $9.3 billion.
Banks’ own net dollar-denominated liabilities to foreign residents increased $83.3 billion.
Monthly net TIC flows were $97.7 billion. Of this, net foreign private flows were $92.6 billion, and net foreign official flows were $5.1 billion.
view report
Source: US Department of the Treasury
PowerShares files with the SEC
April 15, 2011--PowerShares has filed a post-effective amendment, registration statement with the SEC for the
PowerShares Fundamental Pure Large Core Portfolio
(formerly PowerShares Dynamic Large Cap Portfolio)-(PXLC)
PowerShares Fundamental Pure Mid Growth Portfolio
(formerly PowerShares Dynamic Mid Cap Growth Portfolio)(PXMG)
PowerShares Fundamental Pure Mid Core Portfolio
(formerly PowerShares Dynamic Mid Cap Portfolio)(PXMC)
PowerShares Fundamental Pure Mid Value Portfolio (formerly PowerShares Dynamic Mid Cap Value Portfolio) (PXMV)
PowerShares Fundamental Pure Small Growth Portfolio (formerly PowerShares Dynamic Small Cap Growth Portfolio)(PXSG)
PowerShares Fundamental Pure Small Core Portfolio (formerly PowerShares Dynamic Small Cap Portfolio)(PXSC)
PowerShares Fundamental Pure Small Value Portfolio (formerly PowerShares Dynamic Small Cap Value Portfolio)(PXSV)
view filing
Source: SEC.gov
CFTC.gov Commitments of Traders Reports Update
April 15, 2011---CFTC.gov Commitments of Traders Reports have been updated for the week of April 12, 2011 and are now available.
view updates
Source: CFTC.gov
