Americas ETP News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
Fed stands pat but says will act if needed
April 25, 2012--Federal Reserve Chairman Ben Bernanke on Wednesday said U.S. monetary policy is "more or less in the right place" even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
In a statement after a two-day meeting, the Fed's policy-setting panel reiterated its expectation that interest rates would not rise until late 2014 at the earliest, and it took no action on monetary policy.
BNY Mellon appointed by NOW: Pensions as custodian and administrator to new DC workplace pension
April 25, 2012--BNY Mellon, the global leader in investment management and investment services, has been appointed to provide custody and investment administration solutions for NOW: Pensions' new cost-efficient UK defined contribution workplace pension.
NOW: Pensions is the UK-based multi-employer trust established in November 2011. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP (Arbejdsmarkedets Tillægspension), Denmark's largest pension fund and the administration is carried out by Paymaster, an established UK third party administrator.
The NASDAQ Commodity Index Family Goes Live
Index Family is the Latest Offering by the NASDAQ OMX Global Index Group
April 24, 2012--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the launch of the NASDAQ Commodity Index Family, a broad and diverse representation of the commodities markets that provides investors with exposure across all major commodity sectors.
The commodity index family is available in five distinct roll versions to offer investors different investment strategies.
The NASDAQ Commodity Index Family is the latest offering from The NASDAQ OMX Global Index Group, a premier full-service index provider.
The index family consists of the primary benchmark — the NASDAQ Commodity Benchmark Index (NQCI) — a liquidity-based tradable index, as well as 10 sector and 33 single indexes. The five main sectors covered by the NASDAQ Commodity Index family are energy, industrial metals, precious metals, agriculture and livestock.
The family is designed to measure the performance of single commodities and sectors through the use of futures contracts on physical commodities.
"The NASDAQ Commodity Index Family is a broad and accurate representation of the commodity futures market," said John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "This new family of commodity indexes facilitates superior tracking, trading and investing opportunities. It is the latest example of our growing index offerings and reflects our mission to be the best full-service global index provider to our clients."
The commodity index family provides a broad way to track U.S. dollar denominated commodities traded on 10 U.S. and U.K. exchanges. The index family is available in five different roll versions to offer investors multiple choices of exposure and strategies.
The NASDAQ Commodity Index Family is calculated in U.S. dollars in excess and total return. Daily index values, weightings and historical data are available via the NASDAQ OMX Global Index Watch product and the NASDAQ OMX Global Index Data Service.
PIMCO Launches Global Advantage Inflation-Linked Bond Strategy Fund
ETF With Actively Managed Global Inflation-Linked Bonds Using a GDP-Based Investment Approach
April 24, 2012--PIMCO, a leading global investment management firm, is listing on May 1st the Global Advantage Inflation-Linked Bond Strategy Fund (ILB), which is designed to offer investors the potential for long-term returns above inflation by actively managing global inflation-linked bonds and currencies via the accessible and transparent ETF vehicle.
The fund is managed by Mihir Worah, Managing Director and Head of PIMCO's Real Return portfolio management team.
ILB continues the expansion of PIMCO's range of actively managed ETFs, which combine PIMCO's time-tested global investment process and expertise in managing global fixed income with the tradability of an ETF vehicle, providing investors intraday pricing and daily portfolio disclosures in a single share class.
Advisers prefer beta products, and not only due to lower fees
April 24, 2012--Passive investments are growing in popularity among registered investment advisers.
Across all adviser channels, RIAs use index-based products the most, with 32.5 per cent indicating they use more passive products than active. That’s according to the findings of a new adviser survey from kasina. The consulting firm, which partnered with Horsesmouth on the study, surveyed 499 advisers across all channels between February 16 and March 7.
PIMCO to Launch Another Actively Managed ETF
April 24, 2012--Bond giant PIMCO said in a statement today that it will introduce the Global Advantage Inflation-Linked Bond Strategy Fund on May 1. The new actively managed ETF will trade on the New York Stock Exchange under the ticker "ILB."
The Global Advantage Inflation-Linked Bond Strategy Fund is designed to offer investors the potential for long-term returns above inflation by actively managing global inflation-linked bonds and currencies under the ETF wrapper, according to a statement issued by PIMCO. The new fund is managed by Mihir Worah, Managing Director and Head of PIMCO's Real Return portfolio management team.
PowerShares Canada launches first low-volatility Canadian equity index ETF; Adds high-beta ETFs to lineup
April 24, 2012--Continuing its commitment to empowering investors with exchange-traded funds (ETFs) for diverse market conditions, Invesco Canada today announced the listing of the nation's first low-volatility Canadian equity index ETF, PowerShares S&P/TSX Composite Low Volatility Index ETF [TSX: TLV].
Also added today to the PowerShares lineup of intelligent ETFs are Canada's first high-beta index ETFs: PowerShares S&P/TSX Composite High Beta Index ETF [TSX: THB] and PowerShares S&P 500 High Beta (CAD Hedged) Index ETF [TSX: UHB].
PowerShares' low-volatility offerings, TLV and the recently launched PowerShares S&P 500 Low-Volatility (CAD Hedged) Index ETF [TSX: ULV], are designed to provide investors with core exposure to Canadian and U.S. equities, while offering a measure of protection against market downturns. Meanwhile, the high-beta ETFs, THB and UHB, allow investors to potentially capitalize on bull markets by adding beta to their portfolio.
FTSE launches US Total Market Index Series
New Series is Broadest US Domestic Index Available
April 24, 2012--FTSE Group. the award-winning global index provider, today announces the launch of the FTSE US Total Market Index Series (FTSE US TMI Series), a comprehensive domestic index series which aims to provide US and international investors with the most broad-based representation of the US equity market.
The FTSE US Total Market Index Series represents over 99.5% of the total US equity market capitalization. The series comprises over 4,500 stocks – more than any other US domestic index series available today. The series is rules-based and transparent, and its constituents are screened for size and investability with an entry requirement of at least USD 25 million in market capitalization. All security types are included in the US TMI Series, including OTC issues, REITs, ADRs, master limited partnerships, and other equities. The eligible universe of the FTSE US TMI Series includes both the securities of companies incorporated and listed in the US, as well as the securities of companies not incorporated in the US but have a primary listing in the US and not in their country of domicile.
SSGA files with the SEC-SSGA Active Trust
April 24, 2012--SSGA has filed a pre-registration statement, registration statement with the SEC for the SSGA Active ETF Trust.
view filing
PowerShares files with the SEC
April 24, 2012--PowerShares has filed a third and amended application for exemptive relief with the SEC.
view filing
WisdomTree Founder and CEO Jonathan Steinberg to be Named President
Bruce Lavine to Become Vice Chairman
April 24, 2012--WisdomTree Investments, Inc., an exchange-traded fund sponsor and asset manager, today announced that its Board of Directors will appoint Jonathan Steinberg, WisdomTree's founder and CEO, as President, effective August 1st.
Mr. Steinberg will succeed Bruce Lavine who will relinquish President & Chief Operating Officer (COO) responsibilities and relocate to California for family reasons. Mr. Lavine will remain employed by WisdomTree and serve as Vice Chairman where he will continue to serve a leadership role in operations and strategy. Mr. Lavine will also be nominated to serve a new three-year term as a member of the Company's Board of Directors at the upcoming annual meeting of stockholders.
ETFs should go active
April 23, 2012--The debut of Pimco's Bill Gross in the exchange-traded funds market has gone smoothly. Launched at the start of March, this actively managed clone of his $250bn Total Return fund -stripped of derivatives- has gathered $466m.
It regularly trades 200,000 shares a day. Its discount to assets is tight. Its 55 basis point fee is higher than Total Return’s institutional class, but far lower than retail fees of 90bps, or up to 375bps including advisor fees.
DB Equity Research Equity Research-North America: Positive markets and inflows added $5.0bn to ETP assets
April 23, 2012--Net Cash Flows Review
Last week, most markets managed to end up positive. The US (S&P 500) gained 0.60%. Outside the US, the MSCI EAFE (in USD) climbed by 1.65%; however the MSCI EM (in USD) declined by 0.37% during the week. Moving on to other asset classes, the 10Y Treasury yield retreated by 3bps last week, while the DB Liquid Commodity Index was down by 0.95%. Other sectors were mixed. The Agriculture sector (DB Diversified Agriculture Index) and the Gold price fell by 1.04% and 0.92%, respectively; while the WTI Crude Oil and the Silver prices edged higher by 0.21% and 0.56%, respectively. Last but not least, Volatility (VIX) retreated by 10.79% during the same period.
The total US ETP flows from all products registered $0.8bn of inflows during last week vs $6.3bn of outflows the previous week, setting the YTD weekly flows average at +$2.9bn (+$47.5bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -$1.2bn, +$2.2bn, and -$0.2bn last week vs. -$6.8bn, +$0.9bn, and -$0.3bn the previous week, respectively.
Within Equity ETPs, Global ex-US regional, US sector, and Small Cap products experienced the largest outflows (-$0.5bn, -$0.5bn, -$0.4bn, respectively); while dividend vehicles experienced the largest inflows (+$0.3bn). Within Fixed Income ETPs, Corporates products recorded the largest inflows (+$1.2bn), followed by broad benchmark products (+$0.5bn). Within Commodity ETPs Silver products experienced the largest outflows (-$0.1bn).
Top 3 ETPs & ETNs by inflows: VOO (+$0.4bn), HYG (+$0.4bn), DIA (+$0.3bn) Top 3 ETPs & ETNs by outflows: QQQ (-$0.9bn), EFA (-$0.6bn), XLF (-$0.5bn)
New Launch Calendar: more income-generating vehicles,br> There were two new ETF listings and one ETN listing during the previous week. The products were listed on NYSE Arca and BATS. The two ETFs offer access to income strategies; one in the form of MLPs and the other in the form of corporate emerging market debt. The ETN, however, employs a trend-following strategy to give exposure to China.
Turnover Review: Volatility down 11%, Dollar Volume down 12%
Total weekly turnover decreased by 12.2% to $291bn vs. $332bn in the previous week. Last week’s turnover level is also 22% below last year’s weekly average. The largest decrease was on Equity ETP turnover, which fell by $32.1bn or 10.8% to $264bn. Fixed Income and Commodity ETP turnover followed with decreases of -27.0% (-$5.0bn) and -21.6% (-$3.1bn), respectively.
Assets Under Management (AUM) Review:
bottom line says AUM +$5.0bn
Overall positive markets and flows resulted in a gain in ETP assets of $5.0bn. ETP AUM rose by 0.4% to $1.17 trillion from the previous week’s level. YTD growth remains strong at 11.9%. Assets for equity, fixed income and commodity ETPs moved +$4.2bn, +$2.5bn, and -$1.7bn during last week, respectively.
Horizons Exchange Traded Funds Files for Three ETFs in the U.S.
Filing Marks Canadian ETF Provider's U.S. Debut
April 23, 2012--Horizons Exchange Traded Funds Inc. (Horizons ETFs), and Exchange Traded Concepts, LLC (ETC) have filed a registration statement with the Securities and Exchange Commission to issue three covered call exchange traded funds (ETFs) in the United States.
The Horizons branded covered call ETFs are based on new indices from S&P Indices that seek to increase yield and mitigate downside risk by using covered calls on the individual constituent securities in the indices. The ETFs are:
Horizons S&P 500 Covered Call ETF
Horizons S&P Financial Select Sector Covered Call ETF
Horizons S&P Energy Select Sector Covered Call ETF
Newest benchmark offering: NASDAQ Commodity Index Family
April 23, 2012--NASDAQ OMX Global Indexes is proud to add the NASDAQ Commodity Index Family to our index offering. The index family is designed to measure the performance of single commodities as well as sectors through the use of futures contracts on physical commodities.
The primary benchmark is the NASDAQ Commodity Benchmark Index (NQCI). NQCI offers a broader and more diversified representation of the commodity futures market compared to many other commodity indexes.
The NASDAQ Commodity Index Family consists of a broad benchmark, a liquidity-based tradable index, as well as ten sector and 33 single indexes. The five main sectors include energy, industrial metals, precious metals, agriculture and livestock. The wide range of commodities, from ten exchanges worldwide, provides the index with a high level of diversification across and within all subsectors. The indexes will have history back to January 1999 for customers interested in reviewing long-term tracking results.
Flexible rolls, more choices
The index family is available in five different roll versions to offer the choice of different exposure and strategies along the commodity futures curve. The 450 indexes are calculated in U.S. dollars in both excess and total return, and facilitate a superior tracking, trading and investing opportunity.
