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Van Eck files with the SEC
April 1, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Germany Small-Cap ETF.
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AdvisorShares files with the SEC
April 1, 2011--AdvisorShares has filed a post-effective amendment, registration statement with the SEC for the Meidell Tactical Advantage ETF.
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iShares Launches the iShares MSCI China Exchange Traded Fund - New fund marks iShares 40th international single country fund
March 31, 2011--BlackRock, Inc. (NYSE: BLK) today announced that its iShares® Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, is launching the iShares MSCI China Index Fund (NYSEArca: MCHI) on the NYSE Arca. iShares now offers 40 international single country ETFs. The fund is the first China ETF to be benchmarked to the large- and mid-cap MSCI universe, and provides exposure to the top 85% of Chinese equities by market cap.
"The new iShares MSCI China Index Fund provides clients access to one of the fastest growing economies in the world," said Noel Archard, Head of US Product at iShares at BlackRock. "The fund further complements our single country product suite, which has seen significant activity over the past few months as investors increasingly look to single country funds to express nuanced views on global markets."
According to Russ Koesterich, iShares Global Chief Investment Strategist at BlackRock, China is projected to continue to offer attractive investment opportunities as it transitions from an export- to consumption-based economy. China continues to be one of the fastest growing economies in the world with an estimated growth of 10.3% in 20101. Investors can combine MCHI with the iShares MSCI China Small Cap Index Fund (NYSEArca: ECNS), which began trading in September 2010, to create comprehensive MSCI China exposure.
Stepped up SEC Enforcement Targets Fund Industry
March 31, 2011--The mutual fund industry will be one of the targets of more-aggressive enforcement by the Securities and Exchange Commission, according to experts who spoke today at an Investment Company Institute conference in Palm Desert, Calif.
As part of its efforts to reorganize and strengthen its Division of Enforcement, the SEC has established groups that concentrate on specific parts of the market. The largest of these is the assets under management unit.
SIFMA and DTCC White Paper: Money Market Instruments Blue Sky Task Force Report
March 31, 2011--SIFMA and the The Depository Trust & Clearing Corporation (DTCC) release a task force report that proposes several short- and long-term solutions to mitigate systemic and credit risks in the processing of money market instruments (MMI).
The report’s short-term recommendations focus on addressing the credit risk exposure that Issuing and Paying Agent (IPA) banks face because of a lack of transparency around the amount an issuer must fund to cover its maturities.
view the SIFMA and DTCC White Paper: Money Market Instruments Blue Sky Task Force Report
Agencies Seek Public Comment on Risk Retention Proposal
March 31, 2011--Six federal agencies are seeking public comment on a proposed rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities and would not permit sponsors to transfer or hedge that credit risk. In crafting the proposed rule, the agencies sought to ensure that the amount of credit risk retained is meaningful, while reducing the potential for the rule to negatively affect the availability and cost of credit to consumers and businesses.
The rule is proposed by the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the U.S. Securities and Exchange Commission, the Federal Housing Finance Agency, and the Department of Housing and Urban Development. It would provide sponsors with various options for meeting the risk-retention requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Among other things, the options include:
Retention of risk by holding at least 5 percent of each class of ABS issued in a securitization transaction (also known as vertical retention).
Retention of a first-loss residual interest in an amount equal to at least 5 percent of the par value of all ABS interests issued in a securitization transaction (horizontal retention).
view the SEC proposal-Credit Risk Retention
Van Eck files with the SEC
March 31, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Colombia ETF.
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ProShares files with the SEC
March 31, 2011--ProShares has filed a registration statement with the SEC for the ProShares Short 7-10 Year Treasury Fund.
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New York markets cancel ETF trades
March 31, 2011--Nasdaq OMX and NYSE cancelled trades in 10 exchange-traded funds after their prices plummeted in early trading on Thursday, raising questions about measures implemented to safeguard investors against sharp market swings after last year’s “flash crash”.
The exchanges cancelled certain trades that occurred in 10 of 15 Focus Morningstar ETFs that launched on Wednesday, said a spokesperson for Scottrade Financial Services, the ETFs’ sponsor.
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
March 31, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, March 31, 2011:
D-Box Technologies Inc. (TSXVN:DBO.A) will be removed from the index.
The company will graduate to trade on TSX under the ticker symbol "DBO".
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.
FQF files with the SEC
March 30, 2011--FQF has filed a registration statement with the SEC for 7 ETFs>
QuantShares U.S. Market Neutral Momentum Factor Fund – (MOM)
QuantShares U.S. Market Neutral Value Factor Fund – (CHEP)
QuantShares U.S. Market Neutral Beta Factor Fund – (BTAH)
QuantShares U.S. Market Neutral Small Size Factor Fund – (SIZ)
QuantShares U.S. Market Neutral Quality Factor Fund – (QLT)
QuantShares U.S. Market Neutral Anti-Momentum Factor Fund – (NOMO)
QuantShares U.S. Market Neutral Anti-Beta Factor Fund – (BTAL)
Hedge funds, private equity funds demand confidentiality
March 30, 2011-According to Forbes, recent rules proposed by the Securities and Exchange Commission (SEC) in connection with the Dodd Frank reforms have received strong attention and criticism from hedge funds and private equity funds.
Sponsors and managers of these funds are now required to register with the SEC, and they are requesting that steps be taken by the regulator to protect the confidentiality of the information that is provided. The generous “private adviser” exemption, which permitted many fund managers to remain outside the SEC’s reach regardless of the size of their funds, has now been repealed.
Direxion files with the SEC
March 30, 2011--Direxion has filed a post-effective amendment, registration statement with the SEC.
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iShares Launches a High Dividend Equity Exchange Traded Fund
The New Fund Responds to Investors' Desire for Income-Oriented Products
March 30, 2011--BlackRock, Inc. (NYSE: BLK) today announced that its iShares® Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, is scheduled to launch the iShares High Dividend Equity Fund (NYSE Arca: HDV) on the NYSE Arca on March 31, 2011. The new fund provides exposure to high quality income-producing U.S. securities.
iShares offers a broad and modular suite of income-focused ETFs, allowing investors to implement dividend investing strategies using diversified and cost-effective vehicles. iShares launched the first US-listed dividend ETF (NYSE Arca: DVY) in 2003.
"Income is in high demand, yet continues to be hard to come by from traditional sources in a cost-effective, diversified, flexible trading manner," said Noel Archard, Head of US Product at iShares at Blackrock. "A basket of high dividend yielding equities can often provide investors with several benefits such as the potential for enhanced total return (especially in uncertain market environments), possible reduced volatility as compared to more growth-oriented stocks, and greater inflation protection than bonds through the ability to provide capital appreciation."
The fund is benchmarked to the Morningstar Dividend Yield Focus Index, which provides access to U.S. equity securities issued by companies that have provided relatively high dividend yields on a consistent basis. Morningstar's proprietary index methodology screens U.S. companies for superior company quality and financial health based on the Morningstar's Economic Moat™ rating system and the Morningstar Distance to Default measure. Economic moat describes the sustainability of a company's future economic profits, and distance to default measures the likelihood that a company may encounter financial distress1. The index provides access to the top 75 companies by dividend yield that meet the eligibility criteria. The top three sectors in the index as of 2/28/11 are Consumer Goods (19.8%), Healthcare (19.1%) and Utilities (17.1%).
Scottrade's FocusShares Launches New Family of 15 Low-Cost ETFs
March 30, 2011--FocusShares, LLC, a registered investment advisor (RIA), exchange-traded fund (ETF) sponsor and affiliate of online investing firm Scottrade, Inc., today launched 15 new low-cost ETFs benchmarked to indexes licensed from Morningstar, Inc. The FocusTM Morningstar ETFs begin trading today on NYSE Arca and are the first investment products sponsored by FocusShares since being acquired in June 2010 by Scottrade Financial Services, Inc., the parent holding company of Scottrade, Inc.
Each FocusTM Morningstar ETF is among the lowest-cost ETFs in its category available today. Online trading of these ETFs will be available commission-free to Scottrade brokerage customers and registered investment advisors using Scottrade® Advisor Services as their custodian. Investors and advisors who are not Scottrade brokerage customers can purchase FocusTM Morningstar® ETFs through their brokerage firms by paying applicable commissions.
