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Fidelity undercuts Vanguard''s target date funds
Mutual fund giant getting aggressive in the low-cost battle
December 4, 2013--Fidelity Investments is becoming aggressive in the low-cost battle against index fund giant Vanguard.
Fidelity has lowered the fees on its Fidelity Freedom Index Funds to just 16 basis points, or $16 a year for every $10,000 invested, from 19 basis points. It's not a big cut in real dollars, but it does make the Freedom Index Fund lineup slightly cheaper than The Vanguard Group Inc.'s target date funds, which charge 18 basis points.
NASDAQ OMX Monthly Index Performance Report
December 4, 2013--The NASDAQ OMX Index Monthly Performance Report (as of 11/29/13)is now available.
ETF Series Solutions files with the SEC
December 4, 2013--ETF Series Solutions has filed a post-effective amendment, registration statement with the SEC for the
Vident Core U.S. Equity Fund TM ( VUSE )
view filing
State Street files with the SEC
December 4, 2013--State Street has filed a post-effective amendment, registration statement with the SEC for the SPDR MSCI Beyond BRIC ETF (EMBB).
view filing
Direxion Transitions Two Leveraged ETFs to FTSE China 25 Index
Bull and Bear Investors can Capitalize on Equity Performance of Largest and Most Liquid Chinese Companies
December 3, 2013--Direxion, a leader in alternative investment solutions, will transition two of its leveraged exchange-traded funds (ETFs) to the FTSE China 25 Index.
The Direxion Daily FTSE China Bull 3X Shares (YINN) and Direxion Daily FTSE China Bear 3X Shares (YANG) will begin following their new index on December 12, 2013, making them the first pair of 3X leveraged and inverse ETFs in the U.S. to track this composite.
Cambria ETF Trust Launches Foreign Shareholder Yield ETF (FYLD)
Newly Launched ETF provides investors with an innovative approach to high yield stock investing in foreign markets by calculating dividends and share buybacks
December 3, 2013--The Cambria ETF Trust and its investment manager, Cambria Investment Management, LP, today launched the Cambria Foreign Shareholder Yield ETF (FYLD).
FYLD, listed on the NYSE Arca exchange, is comprised of 100 stocks in foreign developed markets that have historically ranked among the highest in paying cash dividends and engaging in share buybacks, two factors central to the concept of "shareholder yield."
NYSE Euronext New Listing-State Street Global Advisors
December 3, 2013--Summary: NYSE Euronext (NYSE:NYX) is pleased to announce that on Thursday, December 05, 2013, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
SPDR MSCI EM Beyond BRIC ETF
Cusip:78463X 44 2
Trading Symbol: EMBB
MSCI Launches New Multi-Factor Indexes
December 3, 2013--MSCI Inc. (NYSE: MSCI) today announced the launch of the MSCI Multi-Factor Indexes. This innovation offers institutional investors a basis for passively implementing index-linked multi-factor strategies transparently and cost-effectively.
MSCI Multi-Factor Indexes are available in standard combinations provided by MSCI or as a custom mix created by the client. Both approaches can be based on underlying flagship indexes such as MSCI EAFE, MSCI ACWI, MSCI World and MSCI Emerging Markets. MSCI offers investors insight for dynamically managing their custom Multi-Factor Index through a new analytical tool called IndexMetrics.
Morgan Stanley-Quarterly Report: $1.6 Trillion in 1,324 ETFs
December 3, 2013--Through the first three quarters of 2013, US-listed ETFs have generated net inflows of $121.2 billion.
During the third quarter, 31 ETFs were launched and ETFs posted net inflows of $52.6 billion.
International developed market equity ETFs captured 32% of net new money during the quarter, with European equity ETFs leading the way. There are currently $1.6 trillion in ETF assets spread among 1,324 products.
The quarterly report on US-listed ETFs includes a summary of investment applications, excerpts from our strategy reports, outlook for related markets, index data, and individual profiles for the 330 ETFs in the Morgan Stanley coverage universe, which represents 90%of US-listed ETF assets.
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX Composite Index
December 3, 2013--S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Petrominerales Ltd. (TSX:PMG) have approved a Plan of Arrangement with Pacific Rubiales Energy Corp. (TSX:PRE). Petrominerales shareholders will receive $CDN11.00 cash and 1 share of Alvopetro Energy Ltd. (TSXVN:ALV) for each share held.
Petrominerales will be removed from the S&P/TSX Composite, Capped Composite and Composite Equal Weight, the S&P/TSX Completion and SmallCap, the S&P/TSX Capped Energy, the S&P/TSX Composite Dividend, the S&P/TSX Equity Income and the S&P/TSX High Income Energy Indices after the close of trading on Wednesday, December 4, 2013.
TMX Group Consolidated Trading Statistics- November 2013
Toronto Stock Exchange,TSX Venture Exchange,TMX Select,Alpha,Montreal Exchange,NGX
December 3, 2013-TMX Group Limited today announced November 2013 trading statistics for its diversified group of exchanges- Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange (MX) and Natural Gas Exchange (NGX).
Trading volume on Toronto Stock Exchange in November 2013 decreased 7% compared to October 2013, and decreased 8% year-over-year. Volume on TSX Venture Exchange decreased 6% in November 2013 compared to the previous month, and decreased 12% compared to November 2012. TMX Select trading volume in November 2013 increased 16% compared to the previous month, and increased 62% compared to November 2012. Alpha trading volume in November 2013 increased 2% compared to October 2013, but was down 46% compared to the same month a year earlier
CBOE Futures Exchange Reports November Trading Volume
Over 2.5 Million Contracts Traded
Phase II of Extended Trading Hours Launched
Futures on Russell 2000 Volatility Index Listed
December 2, 2013--The CBOE Futures Exchange, LLC (CFE(R)) today reported November 2013 trading volume for total exchange-wide activity and for futures on the CBOE Volatility Index(R) (VIX(R)Index).
Additionally, the second phase of the expansion of extended trading hours for VIX futures successfully launched during the month and futures on the CBOE Russell 2000(R) Volatility Index were listed.
The Options Industry Council Announces November Options Volume Decreased 6 Percent
December 2, 2013--The Options Industry Council (OIC) announced today that 314,465,376 total options contracts traded in November, down 6.28 percent compared to last November when 335,527,473 contracts were traded
However, year-to-date volume remains up and stood at 3,791,066,303 contracts, 2.70 percent more than the same point last year when 3,691,342,837 contracts were traded. Average daily volume for the month was 15,723,269 contracts, 1.59 percent less than last November's 15,977,499 contracts.
BMO Insurance Launches New Guaranteed Investment Funds
New funds offer maturity guarantee on principal with automatic monthly resets to lock in gains, balanced ETF investment options and death benefit guarantee
December 2, 2013--BMO Insurance today introduced BMO Guaranteed Investment Funds (GIFs)-segregated funds which are designed to help Canadians reach their retirement saving goals while protecting their hard-earned dollars.
The funds are an ideal choice for pre-retirees and retirees who seek to accumulate wealth for retirement by investing in the market while benefitting from deposit guarantees which provide market downside protection. Deposit guarantees are effective on a future "maturity date" selected by the client (15 to 25 years) or on the death of the annuitant.
Invesco launches web-based Portfolio Illustrator
December 2, 2013--Invesco Distributors, Inc. announced today the launch of Invesco Portfolio Illustrator, a web-based tool providing financial advisors the ability to build a proposal of Invesco mutual funds and ETFs, as well as the universe of both products in a single report.
"In a complex investment world advisors told us they needed an easy-to-understand
portfolio proposal that they can present to their clients to help make sense of it all," said
Joanna Irwin, Head of Client Marketing. "We developed Invesco Portfolio Illustrator to
help them create a simple, clear portfolio proposal for their clients in minutes."