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iShares Announces Launch of Two New Inflation-Linked Bond Funds
iShares Introduces the First Global Inflation-Linked ETF
May 20, 2011) - BlackRock, Inc. (NYSE: BLK) today announced that its iShares® Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, has launched two new inflation-linked funds on the NYSE Arca.
The new funds are the iShares Global Inflation-Linked Bond Fund (NYSE Arca: GTIP) and the iShares International Inflation-Linked Bond Fund (NYSE Arca: ITIP). GTIP and ITIP join the iShares Barclays TIPS Bond Fund (TIP) -- the first TIPS ETF to come to market -- and the more recently launched iShares Barclays 0-5 Year TIPS Bond Fund (STIP) on the iShares product line. In total, the four funds provide investors the ability to access inflation-linked bonds in the US as well as those from foreign countries.
Grail ETF Trust and Its ETFs Hold Special Meeting of Shareholders; Columbia Management Investment Advisers, LLC Approved as ETFs’ Investment Manager, Among Other Approved Proposals
May 20, 2011--Today, at a special meeting of shareholders of RP Growth ETF, RP Focused Large Cap Growth ETF, Columbia Concentrated Large Cap Value Strategy Fund (formerly known as Grail American Beacon Large Cap Value ETF), Grail McDonnell Intermediate Municipal Bond ETF, and Grail McDonnell Core Taxable Bond ETF (each, an "ETF” and collectively the "ETFs”), each a series of Grail Advisors ETF Trust (the "Trust”), shareholders, voting
separately (other than with respect to the election of Trustees where all shareholders voted together), approved the following proposals:
(1) a new Investment Management Services Agreement between each ETF and Columbia Management Investment Advisers, LLC ("Columbia”), a wholly owned subsidiary of Ameriprise Financial, Inc;
Component Changes Made To Dow Jones Germany Select Dividend 20 Index
May 20, 2011-- Dow Jones Indexes, a leading global index provider, today announced that Gagfah S.A. (Germany, Real Estate, GFJ.XE) will be removed from the Dow Jones Germany Select Dividend 20 Index.
Gagfah S.A. (Germany, Real Estate, GFJ.XE) will be replaced by EnBW Energie Baden Wuerttemberg AG (Germany, Utilities, EBK.XE) in the Dow Jones Germany Select Dividend 20 Index. Gagfah S.A. is being removed due to the cancellation of its dividend payment. All changes will be effective before the open of trading on Wednesday, May 25, 2011.
Further information on the Dow Jones Germany Select Dividend 20 Index can be found at www.djindexes.com.
Another Sad Country Song
May 19, 2011--Statement of Commissioner Bart Chilton Before the CFTC Agricultural Advisory Committee Meeting
May 19, 2011--Miranda Lambert has a great country song out right now—“Time to Get a Gun.” Like a lot of great country songs, it tells a story—this one is somewhat tongue-in-cheek, but there’s a bit of truth in it—when people get so fed up, so pushed to the limit, they can be moved to drastic measures. In our case, that means the threat of more prescriptive rules from Congress, mandating specific position limits, because we’ve been unable (or unwilling) to do it ourselves.
Consumers are hurting, at the gas pump and at the grocery store, and if we don’t use all the authorities we have to ensure 100% that the prices they are paying are fair and accurate, I will not be at all surprised if there is an attempt in Congress to take a line from Miranda Lambert, pull out the big guns and simply impose set speculative limits. And there sure would be a lot of people out there singing a sad song about that.
Invesco PowerShares to List Convertible Securities ETF
May 19, 2011--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today the PowerShares Convertible Securities Portfolio is anticipated to begin trading May 26, 2011, on the NYSE Arca under the ticker symbol CVRT. The fund is expected to issue monthly distributions.
"Convertibles are hybrid securities that combine the par value and yield characteristics of a bond with the potential to participate in equity-like returns," said Ben Fulton, Invesco PowerShares managing director of global ETFs. "We are quite pleased to be expanding our fixed-income lineup with a convertible portfolio based on the BofA Merrill Lynch All U.S. Convertibles Index(SM), one of the broadest, most widely used convertible bond benchmarks and truly representative of the overall convertible market."
"The yield on the BofA Merrill Lynch All U.S. Convertibles Index has been higher than the dividend yield on the S&P 500 Index since its inception in December 1994, and it has produced better risk-adjusted returns1," added Fulton. "We believe the PowerShares Convertible Securities Portfolio (CVRT) is a compelling low-cost choice for investors seeking the potential for attractive yields and the relatively low durations represented in this asset class through the benefit-rich ETF structure."
The PowerShares Convertible Securities Portfolio will seek investment results that correspond (before fees and expenses) generally to the price and yield of the BofA Merrill Lynch All U.S. Convertibles Index(SM) (Underlying Index). The Fund will invest at least 80% of its total assets in the component securities that comprise the Underlying Index, which is designed to track the performance of U.S. dollar-denominated investment grade and non-investment grade convertible securities sold into the U.S. market and publicly traded in the United States. The Index constituents are market value-weighted based on the convertible securities prices and outstanding shares, and the Underlying Index is rebalanced daily.
Russell launches a new category of ETFs
"Investment Discipline" ETFs continue 75 years of Russell innovation
May 19, 2011--Russell Investments announced today the U.S. launch of Russell ETFs with the listing of its first suite of innovative exchange traded funds (ETFs), the Russell Investment Discipline ETFs, on the NYSE Arca. Drawing on Russell's decades of expertise in multi-manager research and index construction, Russell aims to provide next-generation ETFs to help investors construct portfolios and manage risk. The Russell Investment Discipline ETFs are the first family of ETFs designed to offer focused, transparent and consistent exposure to U.S. large-cap equities across six investment disciplines commonly practiced by professional investment managers.
"As we celebrate our 75th year in the financial services industry in May, the launch of Russell ETFs represents another major step forward in Russell's storied history of research and innovation," said Andrew Doman, president and CEO of Russell. "Through a robust offering of ETFs we enhance our steadfast dedication to providing investors with a wide range of innovative products and tailored solutions to help each client reach their individual investment objectives."
In its build-up as an ETF provider, Russell assembled a seasoned team of ETF veterans from across the industry to marshal their ETF expertise in a new venture built upon Russell's leadership position in institutional investment insight. Based in large part in San Francisco, the newly formed Russell ETF team also leveraged investment expertise from across Russell's global network of financial professionals to bring to market the first Investment Discipline ETFs.
"Having been involved in the ETF industry since its inception through my career, I recognized an opportunity, perhaps unique to Russell, to provide sophisticated ETF products that expand beyond traditional market offerings," said James Polisson, managing director of Russell's global ETF business. "Our team is committed to offering truly innovative products and we believe that there is a tremendous opportunity for growth by creating ETFs that provide targeted exposures that have not been readily accessible to investors previously."
CFTC.gov Commitments of Traders Reports Update
May 19, 2011--CFTC.gov Commitments of Traders Reports have been updated for the week of May 20, 2011 are now available
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Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
May 19, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Friday, May 20, 2011:
The shareholders of Copper Canyon Resources Ltd. (TSXVN:CPY) have accepted the plan of arrangement from NovaGold Resources Inc.
Copper Canyon Resources Ltd. will be removed from the S&P/TSX Venture Composite Index after the close of Friday, May 20, 2011.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Opening Statement, Meeting of: The Agricultural Advisory Committee
Chairman Gary Gensler
May 19, 2011--Good morning. Thank you Commissioner Dunn for chairing today’s meeting of the Agricultural Advisory Committee and for your leadership.
Though there will be many opportunities to thank and congratulate Commissioner Dunn for his more than six years of service to the Commodity Futures Trading Commission (CFTC) and 25 years of service to the Federal Government, I want to take this opportunity to publicly acknowledge Commissioner Dunn.
Mike is a trusted colleague who works incredibly hard in service to the American public at the CFTC. His significant and thoughtful contributions have strengthened all of our efforts at the Commission to promote transparency and lower risk in the derivatives markets to protect the American public. I am honored to have worked with Mike and to call him my friend.
I also join Commissioner Dunn in thanking my fellow Commissioners and the expert panelists and staff that have joined us this morning.
Canada's ETF Providers Announce Creation of the Canadian ETF Association
May 19, 2011--New organization will help raise awareness of $40 billion Canadian ETF industry through education and outreach to private and public sector stakeholders
Three of Canada's leading exchange traded fund ("ETF") companies have agreed to collectively launch the Canadian ETF Association (the "CETFA"), an independent national association that will represent and promote the Canadian ETF industry.
The focus of the CETFA is to help educate institutional and retail investors as well as the advisor community on the benefits and uses of ETFs, provide industry statistics and commentary on ETF related issues to the Canadian financial media and advance industry issues with regulators, government agencies and interested third parties.
First Trust files with the SEC
May 18, 2011--First Trust has filed a registration with the SEC for the First Trust North American Energy Infrastructure Fund.
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Russell files with the SEC-amended application for exemptive relief
May 19, 2011--Russell has filed an amended application for exemptive relief for actively-managed ETFs.
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Russell files with the SEC
May 18, 2011--Russell has filed a post-effective amendment, registration statement with the SEC.
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First Hong Kong Small Cap ETF (HKK) Launched by IndexIQ
IQ Hong Kong Small Cap ETF (Ticker: HKK) is the first ETF dedicated
to the dynamic small-cap segment of the Hong Kong economy
May 18, 2011--IndexIQ, a leading developer of index-based liquid alternative investment solutions, is set to launch the IQ Hong Kong Small Cap ETF (Ticker: HKK) on the NYSE Arca platform this morning, it was announced today.
HKK is the first Exchange-Traded Fund (ETF) dedicated to providing access to Hong Kong’s
dynamic small-cap sector, an important component to the economic success of this “Asian Tiger.” Hong
Kong has grown rapidly for many decades, supported by its position as a strategic gateway to mainland
China, and by a strongly embedded free market culture. It recently was ranked #2 in the World Bank’s
“Ease of Doing Business Index”1 and has had a top ranking by the Index of Economic Freedom for the
last 15 consecutive years.2 Hong Kong currently ranks as the world 11th-largest trading entity.3 In 2009,
it was the largest center of initial public offerings (IPOs) in the world, with the IPOs listed on the
country’s stock exchange accounting for 22 percent of worldwide IPO capital raised that year.4
Morgan Stanley-US ETF Weekly Update
May 18, 2011--Weekly Flows: $4.7 Billion Net Inflows
ETF Assets Stand at $1.1 Trillion, Up 9% YTD
ETFs Traded $354 Billion Last Week
Launches: 3 New ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs rebounded last week, posting net inflows of $4.7 billion
US Large-Cap ETFs took in the most new money last week, but primarily driven by one fund (SPY)
ETF assets stand at $1.1 trillion, up 9% YTD; combination of market appreciation and net new money
13-week flows were mostly positive among asset classes, commodities being the outlier
$36.4 billion net inflows into ETFs over past 13 weeks (International Equity took in $14.1 billion)
We estimate ETFs have generated net inflows 13 out of 19 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPDR S&P 500 ETF (SPY) generated net inflows of $3.4 billion last week, the most of any ETF
Despite last week’s positive flows, SPY is in the red for year, exhibiting net outflows of $973 million YTD
SPDR Gold Trust (GLD) exhibited the largest net outflows last week ($612 million) and for the year has now
posted net outflows 12 out of 19 weeks (net outflows of $3.9 billion YTD)
