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Monsters that lurk in the shadows of Wall St
March 7, 2011--Lobbying campaigns are like New York subway trains: you can hear the rumbling well before they arrive.
So when banks decided it was time to shift the regulatory focus away from them and towards hedge funds, private equity groups and other parts of the “shadow banking system”, words preceded action.
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Source: FT.com
Fitch Ratings/Fixed Income Forum Survey of Senior U.S. Investors
April 7, 2011--Overview
Cautious optimism for credit market stability ? a fixture of investor sentiment in 2010
? turned into unqualified optimism for improving credit conditions in the most recent Fitch Ratings/Fixed Income Forum Survey of Senior Investors. The survey, conducted from mid-January to mid-February, finds investors more bullish on U.S. and global economic growth, more constructive on the fundamental outlook of multiple asset
classes, and not overly concerned about near-term inflation pressures. The survey was completed just prior to the turmoil in Libya.
Survey Highlights
Survey participants raised their growth forecasts for the U.S., Europe, and Emerging Markets. Emerging Market prospects were already in bullish territory in the June 2010
survey but opinions turned decidedly more favorable for both the U.S. and Europe. In the June 2010 survey, 7% of respondents placed U.S. growth at 3% or higher over the coming year; in the recent survey, that rose to 43%. Opinions surrounding Europe, still
tame relative to the other two areas, also improved. While roughly 60% of investors saw very weak or negative growth for Europe in the summer of 2010, a majority now see growth of 1%?2% and 38% anticipate a more robust 2%?3%.
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Source: Fitch Ratings
AdvisorShares Cambria Global Tactical ETF (GTAA) tops USD100m AUM
GTAA Crosses the $100M Mark in Just 4 Months
March 4, 2011--AdvisorShares, a leading sponsor of ETF innovation and actively managed Exchange Traded Funds (ETFs), announced that the AdvisorShares Cambria Global Tactical ETF (NYSE: GTAA) has topped $100 Million in assets. GTAA is managed by Mebane Faber and Eric Richardson of Cambria Investment Management ("Cambria").
"This is an exciting moment for our team. To have raised over $100 Million in assets in GTAA after just four months is something we are all very proud of," said Noah Hamman, CEO and Founder of AdvisorShares. "Investors have quickly embraced the GTAA investment strategy and are showing their confidence in the GTAA portfolio management team, AdvisorShares and the Active ETF structure. We recently lowered GTAA's expense cap based on the operational efficiencies that have been achieved, due to its phenomenal asset growth."
Mebane Faber, Chief Investment Officer of Cambria, said, "We have been thrilled with the growth of GTAA as we believe that investors need to be more proactive in managing their risk and are glad that our message is resonating with investors." Cambria utilizes a quantitative approach with strict risk management to actively manage GTAA's portfolio in an attempt to mitigate downside losses and protect capital.
Source: AdvisorShares
CFTC.gov Commitments of Traders Reports Update
March 4, 2011--The current reports for the week of March 1, 2011 are now available.
view updates
Source: CFTC.gov
BM&FBOVESPA Posts Records For Exchange-Traded Funds (ETFs) In February - Number Of Trades Rises 76.8% Compared To January
March 4, 2011--BM&FBOVESPA Exchange Traded Funds (ETFs) had a record 33,804 trades in February, up 76.8% on the 19,120 of January and from the previous record of 30,059 in December 2010. Financial volume was also record in February, at BRL 876.25 million, from BRL 717.9 million in January. The highlight was the BOVA11 Ibovespa fund, with the largest financial volume at BRL 779.9 million and the largest number of trades at 30,489.
There were also record daily averages for the ETFs in terms of number of trades (1,690 from 1,431 in December) and financial volume (BRL 43,812.7 from BRL 33,125.6 in December).
The following ETFs are currently traded at BM&FBOVESPA: BOVA11 (iShares Ibovespa Fund index); SMAL11 (iShares BM&FBOVESPA Small Cap Index Fund); MILA11 (iShares BM&FBOVESPA MidLarge Cap Index Fund); PIBB11 (PIBB Brazil Index Fund - 50 - Brazil Tracker); BRAX11 (iShares Brazil Index IBrX-100 Index Fund); CSMO11 (iShares BM&FBOVESPA Consumption Index Fund); and the MOBI11 (iShares Index BM&FBOVESPA Real Estate Index Fund).
Source: BM&FBOVESPA
Ascensus Selected by 3D Asset Management to Partner on ETF AdvisorPlanits ETF AdvisorPlanSM Solution
Ascensus’ Fee-based Platform Enables 3D
to More Easily Offer All-inclusive Retirement Program
March 4, 2011--Ascensus, a leading retirement plan solutions provider, today announced it has been selected by 3D Asset Management (“3D”), a registered investment advisory firm located in East Hartford, CT, to partner on its ETF AdvisorPlanSM product. Based on Ascensus’ fee-based platform, the new product provides cost-effective ETF (exchange traded funds) asset allocation portfolios managed by 3D, which include ETFs from industry leaders as iShares, WisdomTree and others.
In addition, 3D’s new program offers advisors a comprehensive suite of materials to make it easier for financial advisors to offer an all-inclusive, fee-based retirement program.
The ETF AdvisorPlan solution will help advisors: grow their fee-based business in the 401(k) space, simplify their marketing efforts and presentations to 401(k) prospects, manage fiduciary liability, help retain business and improve fee transparency, while reducing costs to plan sponsors.
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Source: Ascensus
IndexIQ files with the SEC
March 4, 2011--IndexIQ has filed a post-effective amendment, registration statement with the SEC for 11 ETFs. The funds are IQ Mexico Small Cap ETF
IQ Asian Tigers ETF
IQ Asian Tigers Consumer ETF
IQ Asian Tigers Small Cap ETF
IQ Asia Pacific ex-Japan Small Cap ETF
IQ Australia Mid Cap ETF
IQ Canada Mid Cap ETF
IQ Japan Mid Cap ETF
IQ Emerging Markets Mid Cap ETF
IQ Global Precious Metals Small Cap ETF
IQ U.S. Real Estate Small Cap ETF
view filing
Source: SEC.gov
Van Eck files with the SEC
March 4, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Colombia ETF.
view filing
Source: SEC.gov
Hedge Funds in U.S. May Face Unprecedented Demands for Information on Risk
March 3, 2011--Hedge funds, broker-dealers and mortgage companies may face unprecedented demands for data on everything from risk exposure to trading partners as U.S. regulators seek to identify firms that pose a potential threat to the financial system, a confidential government report says.
The staff of the Financial Stability Oversight Council identified dozens of “potential metrics” to decide which non- bank financial firms should be designated “systemically important” and subject to Federal Reserve supervision, according to an 80-page study obtained by Bloomberg News.
Source: Bloomberg
NSX Releases February 2011 ETF Data Reports; Assets Continue to Reach Record Levels
March 3, 2011--Highlights from the February 2011 reports include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) continue to reach record levels, totaling approximately $1.06 trillion at February 2011 month-end, an increase of approximately 38% over February 2010 month-end when assets totaled $765 billion.
ETF/ETN net cash inflows for the month totaled over $7.4 billion, including $1.2 billion on ETNs.
Total U.S. Equity led all product categories with over $3.7 billion in net cash inflows.
ETF/ETN notional trading volume during February 2011 totaled almost $1.25 trillion, representing almost 27% of all U.S. equity trading volume.
At the end of February 2011, the number of listed products totaled 1,135 compared to 964 listed products at the same time last year.
Visit www.nsx.com for full report.
Source: National Stock Exchange (NSX)
