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U.S. exchange-traded funds moving into Latin American pensions
November 5, 2013--Major U.S. exchange-traded fund companies are enthusiastically marketing their wares to Latin American pension funds, particularly in Chile where investors can allocate up to 80 percent of their pension contributions in foreign investments.
As Latin American countries have privatized pension systems, U.S. ETFs are proving attractive to local fund managers who want to invest more broadly outside the region, diversify risk and find products that carry lower costs than traditional mutual funds.
NYSE Euronext New ETF Listing- Global X Next Emerging & Frontier ETF
November 5, 2013--NYSE Euronext (NYSE:NYX) is pleased to announce that on Thursday, November 07, 2013, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: Global X Next
Emerging & Frontier ETF.
Short Name: GX Emrging/Frontier
CUSIP: 37950E 21 8
Trading Symbol:EMFM
KraneShares Now Accepting Indications of Interest for MSCI China A Share ETF
KraneShares Bosera MSCI China A Share ETF has Received RQFII Quota from China's State Administration of Foreign Exchange ("SAFE") to Provide Groundbreaking Access to China's Mainland Markets
November 5, 2013--rane Funds Advisors ("KraneShares") today announced that it is accepting indications of interest for the KraneShares Bosera MSCI China A Share ETF (NYSE: KBA).
KBA's prospectus is effective and the ETF will soon launch on the New York Stock Exchange. KraneShares is the first U.S. owned company partnered with a China based fund manager, Bosera Asset Management, to receive investment quota from China's State Administration of Foreign Exchange ("SAFE"), for an RQFII ETF in the United States
KraneShares Bosera MSCI China A Share ETF will provide investors unprecedented direct access to China A share securities listed on the Shanghai and Shenzhen Stock Exchanges. This new ETF is a collaboration between Bosera, one of China's largest asset managers ($32 billion in client assets), KraneShares and MSCI, the gold standard of index providers globally.
Assets based on RAFI Fundamental Index concept pass $100 billion mark
Smart beta strategy draws interest from large institutions and retail investors
November 5, 2013--Assets invested based on the RAFI(R)Fundamental Index(R)approach have surpassed $100 billion globally. This milestone represents broad acceptance by institutional and retail investors of these smart beta strategies.
"When we developed the Fundamental Index strategy, we knew it was a big new idea. But its growth has exceeded our expectations, and the concept continues to attract interest from the largest institutions to Main Street investors," said Rob Arnott, chairman and chief executive officer of Research Affiliates, LLC.
CFTC Issues Proposed Rule to Require All Registered Introducing Brokers, Commodity Pool Operators, and Commodity Trading Advisors to Become and Remain Members of a Registered Futures Association
November 5, 2013--The Commodity Futures Trading Commission (CFTC or Commission) proposed a rule today to amend its regulations to require that all persons registered with the Commission as introducing brokers (IBs), commodity pool operators (CPOs), and commodity trading advisors (CTAs) become and remain members of at least one registered futures association (RFA).
The Commission is proposing new Section 170.17 to address recent changes to the Commodity Exchange Act (CEA) by the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Commission’s authority to regulate swaps. Currently, under Sections 170.15 and 170.16 of the Commission’s regulations, all registered futures commission merchants (FCMs), swap dealers (SDs) and major swap participants (MSPs) are required to become members of NFA.
AdvisorShares files with the SEC
November 4, 2013--AdvisorShares has filed a post-effective amendment, registration statement with the SEC. This post-effective mmendment No. 86 relates to the AdvisorShares YieldPro ETF.
view filing
NYSE Euronext New ETF Listing-FlexShares Global Quality Real Estate Index Fund
November 4, 2013--NYSE Euronext (NYSE:NYX) is pleased to announce that on Wednesday, November 06, 2013, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: FlexShares Global Quality Real Estate Index Fund.
Short Name: FlexShares GQRE
CUSIP: 33939L787
Trading Symbol: GQRE
NYSE Euronext New ETF Listing-db X-trackers Harvest CSI 300 China A-Shares Fund
November 4, 2013--NYSE Euronext (NYSE:NYX) is pleased to announce that on Wednesday, November 06, 2013, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
db X-trackers Harvest CSI 300 China A-Shares Fund
Short name: db-X CSI China ETF
CUSIP: 233051 87 9
Trading Symbol: ASHR
BlackRock fights 'too big to fail' fears
November 4, 2013--BlackRock and Vanguard have rejected criticisms by US regulators that large asset managers could pose threats to the stability of the global financial system.
"Asset managers have no impact on systemic risk," said BlackRock in its written response to a report by the US Treasury's Office of Financial Research.
Gross Loses World's Largest Mutual Fund Title to Vanguard
November 4, 2013--Bill Gross no longer runs the world's largest mutual fund.
Gross's Pimco Total Return Fund (PTTRX) has shrunk by $37.5 billion since the start of this year, ending last month with $247.9 billion in assets, according to data provided by Pacific Investment Management Co. in Newport Beach, California, and compiled by Bloomberg.
The Vanguard Total Stock Market Index Fund (VTSMX) ended October with $251 billion, Vanguard Group Inc. spokesman John Woerth wrote in an e-mail, taking the top spot.
Landmark RQFII ETF to list in New York
November 4, 2013--Deutsche Bank's funds arm and Harvest Global Investments are set to list the first overseas RQFII ETF this week, in what is seen as a breakthrough for the RQFII model.
And others will follow suit..
Canada aligns with U.S. on Basel III implementation
November 4, 2013--The Canadian Office of the Superintendent of Financial Institutions has followed the US in Basel III adoption, primarily because it wants Canadian banks to be on a level playing field with American peers.
While Europeans are racking up exemptions, Canadians, like Americans, "went in right from the start on an all-in basis", said Mark Zelmer, deputy superintendent of the office.
NYSE Experiences Data Malfunction Days Before Twitter IPO
November 4, 2013--NYSE Euronext (NYX) experienced two technical malfunctions during the first 40 minutes of trading, three days before it handles Twitter Inc.'s initial public offering.
All trades processed by the New York Stock Exchange and NYSE MKT were mislabeled on the industry’s main data feed as "sold" during the error, which was resolved at about 10:09 a.m. New York time today. NYSE Euronext also had trouble quoting shares, according to a statement. Bats Global Markets Inc., one of the four major U.S. stock market owners, briefly stopped sending buy and sell orders to NYSE during the error.
Vanguard picks ETF ace to run $750 billion bond group
October 4, 2013--Vanguard Group, the No. 1 U.S. mutual fund company, said on Monday that Gregory Davis, a major force behind the launch of bond exchange-traded funds, will become the chief of its fixed-income group, which has $750 billion in assets.
Davis, 43, will replace Robert Auwaerter, who is retiring in March after more than 30 years with Vanguard, where he oversaw exponential growth in bond assets.
CFTC to Offer New Take on Speculation-Limits Rule Judge Rejected
November 4, 2013--The top U.S. derivatives regulator will consider a reworked proposal to limit speculation blamed for price surges in energy, wheat and other commodities after Wall Street groups successfully challenged an earlier version.
The Commodity Futures Trading Commission will meet tomorrow in Washington to vote on releasing the proposal mandated by the 2010 Dodd-Frank Act that overhauled U.S. financial regulation. The CFTC rewrote the plan, which may cap the number of futures contracts a single firm can hold in 28 commodities, after a federal court rejected its previous proposal for failing to justify the reason for imposing position limits.