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Morgan Stanley US ETF Weekly Update
April 11, 2011--Weekly Flows: $11.0 Billion Net Inflows
ETFs Traded $290 Billion Last Week
ETF Assets Stand at $1.1 Trillion
Launches: 4 New ETFs
US-Listed ETFs: Estimated Flows by Market Segment
For the second consecutive week ETFs posted large net inflows ($11.0 billon last week)
All market segments (ex-Active) exhibited net inflows last week, led by US Sector & Industry ETFs
ETF assets stand at $1.1 trillion, up 9% YTD
13-week flows were mostly positive among asset classes
$31.0 billion net inflows into ETFs over past 13 weeks (International-Developed took in $9.6 billion)
EM Equity ETFs posted meaningful net outflows ($6.3 billion) over the past 13 weeks, but have exhibited net
inflows for four consecutive weeks ($5.2 billion)
US-Listed ETFs: Estimated Largest Flows by Individual ETF
PowerShares QQQ (QQQ) posted net inflows of $1.2 billion last week, the most of any ETF
Over the last 13 weeks, iShares MSCI Japan Index Fund (EWJ) exhibited the largest net inflows of any ETF
($2.8 billion)
Two oil-related ETFs (XOP, USO) had the most net outflows last week despite WTI oil’s ascent to $112 per
barrel
request report
Source: Morgan Stanley
iShares files with the SEC
April 11, 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 manager bets against US debt
April 11, 2011--Bill Gross, manager of the world's largest bond fund, is now actively betting against the value of debt issued by the US government.
Pimco’s $236bn Total Return Fund held minus 3 per cent of its assets in government related securities at the end of March, down from zero the month before, according to a report issued by the company on Monday.
read more
Source: FT.com
Huntington files with the SEC
April 11, 2011--Huntington Stategy Shares has filed a registration statement with the SEC for the Huntington US Equity Rotation Strategy ETF
NYSE Arca Ticker: HUSE
and the
Huntington EcoLogical Strategy ETF
NYSE Arca Ticker: (HECO)
view filing
Source: SEC.gov
ProShares files with the SEC
April 11, 2011--ProShares has filed a post-effective amendment, registration statement with the SEC the Ultra Fixed-Income
ProShares (UJB)Ultra High Yield
(IGU)Ultra Investment Grade Corporate
view filing
Source: SEC.gov
"Atlas Shrugs" Statement of CFTC Commissioner Bart Chilton Regarding Margin Requirement Rulemaking
April 11, 2011--In her seminal 1957 novel, Atlas Shrugged, Ayn Rand explored the negative effects of governmental overreaching into the private sector. As we now undertake the Herculean task of developing wide-ranging rules for an entire new market structure, we are intensely aware that we must not stifle necessary and legitimate business activity that is critical to the engine of our economy. We don’t want to “shrug,” and topple the globe off our shoulders. At the same time, we need to make sure we’re protecting against systemic risk and providing needed safeguards for markets and consumers. It’s a fine balance, and requires constant review and interaction with those affected by these changes.
Tomorrow, the Commission will hold the 13th in its series of open public meetings on Dodd/Frank rulemakings. We will address what I believe to be one of the more important rulemakings—dealing with margin issues. It’s important, because we need to ensure that the appropriate lines are drawn to protect against market risks, yet not place any unnecessary requirements that could end up harming commercial business activity. In other words, we don’t want to tie up money unnecessarily in margin when that could be better used for natural gas exploration or increased agricultural production, just to name a couple of examples. We need to hear from the market participants affected by these rules, and from all interested parties, to ensure that we get the balance right.
The Dodd/Frank rulemaking efforts have been a remarkably open and iterative process. And never before have those qualities been more important to our regulatory efforts. It is critically important to the outcome of the rules that we continue in this vein. We need to ensure that the “shrug” of these new rules, as will inevitably occur, is an expected bump, and not an earthquake
Source: CFTC.gov
Speculators send Brazil’s real to new heights
April 8, 2011-- Brazil’s currency has surged over the past two weeks, breaking one of the market’s most important resistance levels, as speculators have seized on an apparent shift in government policy.
The country has long been at the forefront of the so-called currency war, introducing a barrage of aggressive measures specifically designed to curb the appreciation of the overvalued real
read more
Source: FT.com
BM&FBOVESPA And Itaú Unibanco Launch Financial Index ETF
April 8, 2011--BM&FBOVESPA started trading on Thursday (April 7) in IFNC ETF, a fund that tracks the BM&FBOVESPA Financial Index (IFNC). Named IT Now, the new ETF has Itaú Unibanco as its manager and will reflect a portfolio of shares in the most representative companies in the Financial Intermediation, Diverse Financial Services and Pensions and Insurance sectors.
The ceremony to mark the start of trading occurred at the Raymund Magliano Filho visitors’ center, with Itaú Unibanco Asset Management Director Paulo Corchaki; Itaú Unibanco Index Funds Manager Tatiana Grecco; Itaú Unibanco Institutional Clients Director Roberto Nischikawa; and BM&FBOVSPA Chief Executive Officer Edemir Pinto. The executives rang the opening bell to mark the occasion.
With the launch of the Financial Index ETF there are now eight trackers traded at BM&FBOVESPA: BOVA11, SMAL11, MILA11, BRAX, CSMO, MOBI, PIBB11 and FIND11.
Source: BM&FBOVESPA
“Blind Rhetoric”
Statement of Commissioner Bart Chilton Regarding Possible Government Shutdown
April 8, 2011--Some of you may remember the “Diamond Crash” many years ago, a tragic loss of four pilots and their jets in a daredevil Thunderbird flying show in Arizona. Due to a rare malfunction in the lead plane, causing it to go off course, the leader of the flying “V” led the three following jets—whose pilots are taught to follow the leader with exacting, unwavering precision, blindly following the leader, if you will—into a tragic, fatal dive.
There’s a lesson in this for those engaged in the current budget debate. It is following a kind of blind rhetoric that has pulled some of our leaders to the point of a full-blown government shutdown. And the harm to be caused is potentially incalculable. In our agency, we are preparing to let markets and market participants know what we will NOT be able to do during a lapse. This is dangerous territory. We are just coming out of the worst economic calamity since the Great Depression, and certain members of Congress are playing a game of chicken—arguing over a miniscule percentage of the total budget—putting that recovery at risk once again.
read more
Source: CFTC.gov
CFTC Issues Order Relating to the Continuation, Shutdown and Resumption of Certain Commission Operations in the Event of a Lapse in Appropriations
April 8, 2011-- The Commodity Futures Trading Commission (CFTC) today issued a final order to provide for the continuation, shutdown and resumption of certain operations of the CFTC in the event of a lapse in
appropriations, and to alert all persons regulated by or engaged in proceedings at the CFTC of these provisions.
Source: AME Info
