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ETF Securities Passes $3 Billion in US Assets Under Management
February 18, 2011--On February 17, 2011ETF Securities USA LLC (ETFS) today that the total assets under management of its six products; ETFS Physical Swiss Gold Shares (SGOL), ETFS Physical Silver Shares (SIVR), ETFS Physical Platinum Shares (PPLT), ETFS Physical Palladium Shares (PALL), ETFS Physical PM Basket Shares (GLTR) and ETFS Physical WM Basket Shares now exceed $3 Billion as of December 10th, 2010.
Commenting on this milestone for ETF Securities in the U.S., William Rhind, Strategic Director for ETFS Marketing LLC, commented:
"Reaching $3 billion is another strategic milestone for ETF Securities in the U.S. market. Whether you want to invest in all four metals or just the white ones, GLTR and WITE provide simple cost effective portfolio completion strategies helping to diversify precious metals exposure".
ProShares Announces ETF Share Splits
February 17, 2011--ProShares, a premier provider of alternative exchange traded funds (ETFs), announced today share splits on four of its ETFs and reverse share splits on 20 of its ETFs. The splits and reverse splits will not change the value of a shareholder's investment.
Splits
Three funds will split shares 2-for-1.
| Ticker | Fund | Split Ratio |
|---|---|---|
| TQQQ | ProShares UltraPro QQQ® | 2:1 |
| URTY | ProShares UltraPro Russell2000 | 2:1 |
| UMDD | ProShares UltraPro MidCap400 | 2:1 |
One fund will split shares 3-for-1.
| Ticker | Fund | Split Ratio |
|---|---|---|
| UPRO | ProShares UltraPro S&P500® | 3:1 |
All splits will apply to shareholders of record as of the close of the markets on February 22, 2011, payable after the close of the markets on February 24, 2011. The funds will trade at their post-split prices on February 25, 2011. The ticker symbols and CUSIP numbers for the funds will not change, and all will continue to trade on NYSE Arca.
The splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For example, for the 2-for-1 splits, every pre-split share held by a shareholder will result in the receipt of 2 post-split shares, which will be priced at half of the net asset value ("NAV") of a pre-split share.
Illustration of a Split
The following table shows the effect of a hypothetical 2-for-1 split:
| Period | # of Shares Owned | Hypothetical NAV | Value of Shares |
|---|---|---|---|
| Pre-Split | 100 | $100.00 | $10,000.00 |
| Post-Split | 200 | $50.00 | $10,000.00 |
Reverse Splits
Thirteen funds will reverse split shares 1-for-4.
| Ticker | Fund | Split Ratio | Old CUSIP | New CUSIP |
|---|---|---|---|---|
| EPV | ProShares UltraShort MSCI Europe | 1:4 | 74347X807 | 74348A301 |
| MZZ | ProShares UltraShort MidCap400 | 1:4 | 74347R859 | 74347X211 |
| REW | ProShares UltraShort Technology | 1:4 | 74347R578 | 74347X153 |
| SDD | ProShares UltraShort SmallCap600 | 1:4 | 74347R792 | 74348A400 |
| SDK | ProShares UltraShort Russell MidCap Growth | 1:4 | 74347R446 | 74347X187 |
| SIJ | ProShares UltraShort Industrials | 1:4 | 74347R594 | 74348A103 |
| SJH | ProShares UltraShort Russell2000 Value | 1:4 | 74347R412 | 74348A509 |
| SJL | ProShares UltraShort Russell MidCap Value | 1:4 | 74347R438 | 74347X161 |
| SKF | ProShares UltraShort Financials | 1:4 | 74347R628 | 74347X146 |
| SMK | ProShares UltraShort MSCI Mexico Investable Market | 1:4 | 74344X872 | 74347X179 |
| TWM | ProShares UltraShort Russell2000 | 1:4 | 74347R834 | 74348A202 |
| UCO | ProShares Ultra DJ-UBS Crude Oil* | 1:4 | 74347W502 | 74347W650 |
| ZSL | ProShares UltraShort Silver* | 1:4 | 74347W726 | 74347W643 |
Seven funds will reverse split shares 1-for-5.
| Ticker | Fund | Split Ratio | Old CUSIP | New CUSIP |
|---|---|---|---|---|
| CMD | ProShares UltraShort DJ-UBS Commodity* | 1:5 | 74347W205 | 74347W676 |
| JPX | ProShares UltraShort MSCI Pacific ex-Japan | 1:5 | 74347X609 | 74347X229 |
| QID | ProShares UltraShort QQQ® | 1:5 | 74347R875 | 74347X237 |
| SCO | ProShares UltraShort DJ-UBS Crude Oil* | 1:5 | 74347W809 | 74347W668 |
| SKK | ProShares UltraShort Russell2000 Growth | 1:5 | 74347R420 | 74347X195 |
| SSG | ProShares UltraShort Semiconductors | 1:5 | 74347R545 | 74347X245 |
| TLL | ProShares UltraShort Telecommunications | 1:5 | 74347R255 | 74347X252 |
CFTC Technology Advisory Committee Meeting
February 17, 2011--CFTC Commissioner Scott O’Malia to chair a meeting of the Technology Advisory Committee.
When:
Tuesday, March 1, 2011, 1:00 pm (ET)
Where:CFTC Hearing Room, 1155 21st Street, NW, Washington, DC
Topic:Pre-Trade Functionality
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Global X Launches First ASEAN ETF
February 17, 2011--Global X Funds, the New York based provider of exchange traded funds, today launched the Global X FTSE ASEAN 40 ETF (Ticker: ASEA). The fund is the first ETF listed in the US to target the Association of Southeast Asian Nations (ASEAN). As of February 11, 2011, the index break down was: Singapore (41.19%), Malaysia (32.82%), Indonesia (14.77%), Thailand (10.58%), and the Philippines (0.61%).
The Southeast Asian nations have profited from considerable growth and a combined market capitalization of $1.75 trillion in 2010, larger than that of both India and Brazil (World Federation of Exchanges). The fund allows investors to tap into the ongoing economic integration in the region, which has contributed to the 111% rise in M&A deals between ASEAN companies to $53.7bn (Financial Times, 2011). To further aid integration there is a planned cross-border trading platform slated for 2011, which includes the stock exchanges in Singapore, Malaysia, Thailand and the Philippines.
In addition, the region enjoys a stronger relationship with China, as the Asian giant seeks to develop the China-ASEAN Free Trade Area (CAFTA) (Guangxi Regional Government, 2011), as well as an increase in imports from ASEAN, which increased by nearly 45% in 2010 (China Daily, 2011).
“We are pleased to provide access to the ASEAN market for US investors,” said Bruno del Ama, CEO of Global X Funds. “This is one of the most dynamic regions in the world with accelerating consumer demand that should develop a middle class of about 300 million people by 2015.”
The Global X FTSE ASEAN 40 ETF seeks to provide investment results that correspond generally to the price and yield performance of the FTSE ASEAN 40 Index. The FTSE/ASEAN 40 Index tracks the performance of the 40 largest companies in the five ASEAN countries: Singapore, Malaysia, Indonesia, Thailand and Philippines. As of February 3, 2011 the three largest components for ASEA were DBS Group Holdings, Singapore Telecom, and Oversea-Chinese Banking.
iShares files with the SEC
February 17, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares MSCI All Country World Minimum Volatility Index Fund.
view filing
iShares files with the SEC
February 17, 2011-iShares has filed a post-effective amendment, registration statement with the SEC for the iShares MSCI Emerging Markets Minimum Volatility Index Fund.
view filing
Global X files with the SEC
February 17, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for 7 ETFs. They are the Global X UK Mid-Cap ETF
Global X Germany Small-Cap ETF
Global X Mexico Small-Cap ETF
Global X Hong Kong Small-Cap ETF
Global X Singapore Small-Cap ETF
Global X South Korea Small-Cap ETF
Global X Taiwan Small-Cap ETF
NEXT ETF Trust files with the SEC
February 17, 2011--NEXT ETF has filed an application for exemptive relief with the SEC.
view filing
DB Index & ETF Research: US ETF Market Weekly Review : Strong US Equity Market Fuels ETP Growth
February 17, 2011--Strong markets in the US which pushed the S&P 500 1.9% up lured flows into US-focused ETPs, helping to offset the huge asset exodus driven by EM products. Other DM markets also contributed with inflows.
Total US ETP flows for the last week registered $2.9 bn of inflows vs $1.8 bn outflows the previous week, setting the YTD weekly flows average at +$2.0 bn. US ETPs AUM continues to grow gradually but steadily beyond the trillion dollar mark reaching $1.03 trillion at the end of last week.
From a geographic focus, long-only Equity ETPs in the US, and in other DMs gathered more than enough new money (+$3.0 bn, and +$1.7 bn, respectively) to offset the cash exodus in the EMs (-$3.0 bn) caused by their plunge last week. In addition, a closer look at the flows into the DM ex US ETPs, provides interesting insights in terms of the trends within the international developed market allocations. At the end of last week, $2.3 bn had been poured into country specific ETPs, and $1.8 bn into regional ETPs since the beginning of the year. Among the top 3 countries by inflows, Japan (+$723 mm), Canada (+$569 mm), and Germany (+$522 mm) have received the largest new allocations in the same period. Within the EM segment we saw spread bearish sentiment among investors, and envision more challenges at the time of finding value in EMs.
Long-only Fixed Income ETP flows stayed calmed last week (+$167 mm). Corporates led the inflows (+$219 mm), and Sovereign recorded the largest outflows (-$99mm). Commodity ETPs experienced a second week of inflows ($706 mm), with Agriculture ETPs ($291 mm) leading the way. Please see the weekly commentary section for more details.
New Launch Calendar: Inflation Trade
There was only one product launched during last week. The new product is listed in NYSE Arca and enables investors to access short leveraged exposure to Inflation in the form of a Fixed Income product.
Turnover Review: On Exchange activity dropped by 3%
Total weekly turnover dropped by 3% to $302 bn vs. $311 bn in the previous week, and a 10% down from last year’s weekly average. Equity ETPs recorded the largest absolute decrease with a drop of $4.9 bn, mainly driven by Large Cap ETPs (-$7.2 bn). Fixed Income products turnover didn’t experience significant changes WoW, and remains above 44% up from last year’s weekly average. Finally Commodity ETPs, registered a major drawdown of 19.1% (-3.8 bn) following the previous week’s WoW drop of 24%, placing on exchange activity just 5% above 2010’s weekly average. Among Commodity sub sectors, Gold (-$2.9 bn) and Crude Oil (-$1.0 bn) experienced the largest drops.
Assets Under Management (AUM) Review: assets added $6.7 bn
A strong week in the US and in the developed world brought renewed wealth to ETPs in the form of price appreciation and inflows, enough to outpace the plunge and the outflows in the emerging markets. Total ETP assets increased by 0.7% from the previous week, adding $6.7 bn and reaching $1.03 trillion at the end of the week. Year to date US ETPs AUM have increased $32 bn or 3.2%.
To request a copy of the report
Fidelity adds 5 iShares ETFs to free trading program
February 16, 2011-- Fidelity Investments added five exchange-traded funds to its free ETF trading program, including funds covering high-yield bonds, dividend stocks and real estate
Overall, Fidelity now offers its brokerage customers free trading on 30 ETFs, all managed by BlackRock's iShares unit, up from 25 when the partnership was begun a year ago, the Boston-based firm said in a release on Wednesday.
First Trust Advisors L.P. Announces ETF Assets Now Exceed $6 Billion and the Proposed Launch of the Industry’s First Smartphone ETF
February 16, 2011--First Trust Advisors L.P. (“FTA”) announced today that aggregate assets under management for the exchange-traded funds advised by FTA now exceed $6 billion. FTA launched its first exchange-traded fund in September of 2005 and has since grown its product line to include a total of 44 ETFs covering a broad range of equity asset classes and high growth market segments.
“Reaching $6 billion assets under management for ETFs is a very exciting milestone,” said Robert F. Carey, CFA, and Chief Investment Officer of First Trust. “At First Trust, we remain focused on developing products that provide investors with targeted, efficient exposure to specialized segments of the market.”
In addition, FTA expects to launch the industry’s first Smartphone ETF on February 18, 2011. The First Trust NASDAQ CEA Smartphone Index Fund is expected to be listed on The NASDAQ Stock Market® under the ticker symbol FONE. The Fund provides a way to gain exposure to various companies involved in all aspects of the smartphone value chain including hardware manufacturers, operating system providers, chip makers, software manufacturers and service providers. The Fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called the NASDAQ OMX CEA Smartphone IndexSM.
“First Trust is extremely pleased to launch another pioneering exchange-traded fund,” said Mr. Carey. “We continually evaluate opportunities to broaden the First Trust family of ETFs, and FONE will enhance our unique specialty sector offerings.”
ProShares files with the SEC
February 16, 2011--ProShares has filed a post-effective amendment, registration statement with the SEC.
This post-effective amendment relates only to the following series of ProShares Trust: ProShares Ultra TIPS and ProShares UltraShort TIPS.
Global X files with the SEC
February 16, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for
Global X FTSE Andean 40 ETF
Global X FTSE ASEAN 40 ETF
Global X S&P/TSX Venture Canada ETF
Global X Next 11 ETF
Fed raises growth expectations for 2011
Minutes of the Federal Reserve's most recent meeting reveal moderate improvement in officials' outlook for GDP growth, and continued worries about the sluggish job market.
February 16, 2011--The Federal Reserve moderately raised its projections for economic growth this year amid the recent surge in consumer spending, but central bank officials continued to lament the slow pace of improvement in the job market.
The Fed's latest economic outlook, released Wednesday with the minutes of its last policy meeting in late January, shows U.S. economic output growing 3.4% to 3.9% this year. That's slightly better than its last projections in November, when most Fed officials saw gross domestic product increasing 3% to 3.6%.
