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Emerging Markets Week in Review -6/21/2010 - 6/25/2010
June 28, 2010--The Dow Jones Emerging Markets Composite Index declined 0.69% last week despite the PBOC's decision to remove the yuan's peg to the US dollar. Consumer Goods gained 0.12% as the only positive sector for the week and remains one of the best performing groups year to date.
Consumer Services and Industrials dropped 2.01% and 0.72% last week. This week, as 1Q10 comes to a close, market's will be looking to see how G20 leader's pledge to repair the damage from the debt crisis in Europe and what moves will be made to avoid another recession.
Van Eck files with the SEC
June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for
Market Vectors Minor Metals ETF
view filing
Index IQ files registration with SEC
June 28, 2010---Index IQ has filed a Amendment No. 5, registration statement with the SEC for
IQ ALPHA Hedge Strategy Fund
view filing
Index IQ files with the SEC
June 28, 2010--Index IQ has filed a post-effective amendment, registration statement with the SEC for
IQ Hedge Multi-Strategy Tracker ETF
Cusip:45409B107
Ticker: QAI
IQ Hedge Macro Tracker ETF
Cusip:45409B206
Ticker:MCRO
Direxion files with the SEC
June 28, 2010--Direxion has filed a post-effective amendment No.12, registration statement with the SEC for
Direxion Daily S&P 500 Bull 3X Shares, Direxion Daily S&P 500 Bear 3X Shares, Direxion Daily Basic Materials Bull 3X Shares, Direxion Daily Basic Materials Bear 3X Shares, Direxion Daily Consumer Discretionary Bull 3X Shares, Direxion Daily Consumer Discretionary Bear 3X Shares, Direxion Daily Consumer Staples Bull 3X Shares
Direxion Daily Consumer Staples Bear 3X Shares, Direxion Daily Healthcare Bull 3X Shares, Direxion Daily Healthcare Bear 3X Shares, Direxion Daily Retail Bull 2X Shares, Direxion Daily Retail Bear 2X Shares, Direxion Daily Semiconductor Bull 3X Shares, Direxion Daily Semiconductor Bear 3X Shares, Direxion Daily Utilities Bull 3X Shares and Direxion Daily Utilities Bear 3X Shares
Chairman Schapiro Statement on Regulatory Reform Legislation
June 28, 2010--The following is a statement from SEC Chairman Mary L. Schapiro regarding legislation to be considered this week by the Congress:
"On Friday, Congress took a giant step toward achieving important comprehensive financial regulatory reform.
"The bill that emerged from the conference to be considered this week will improve oversight of large interconnected institutions, fill significant regulatory gaps, provide greater oversight and transparency over hedge funds and over-the-counter derivatives, improve the SEC's funding process and provide additional investor protections."
Claymore Adds Key Talent to Enhance Private Client Group
June 28, 2010--Claymore Securities, Inc., an innovator of investment product solutions and a wholly-owned subsidiary of Guggenheim Partners, LLC, announced today the addition of several senior professionals focused on growing the firm’s service and distribution excellence in the private client business.
“As we continue to integrate Claymore with Guggenheim, we are aggressively building out our distribution and servicing capabilities,” said Steven A. Baffico, senior managing director and head of U.S. retail distribution for Claymore Securities, Inc., a Guggenheim Partners company. “We are working diligently to implement the most advantageous organizational structure for success and will continue to add additional world-class professionals to our team.”
Recently Claymore has hired the following executives:
Chris Parisi joins as senior managing director and national sales manager, overseeing all internal and external wholesalers and product support staff. Parisi previously held senior positions at MainStay-New York Life Investments, BlackRock and Federated Investments.
Lee Personeni joins as director – Strategic Relations Group. As relationship manager, she is responsible for business development and relationship management with Bank of America –Merrill Lynch and other partner firms. Personeni previously held various leadership positions at Merrill Lynch, including Americas Distribution Group’s head of strategic initiatives and campaigns, Managed Solutions Group’s divisional marketing manager and transition team specialist during the firm’s acquisition by Bank of America.
Jennica Ross joins as director – Strategic Relations Group. As relationship manager, Ross manages the UBS relationship, as well as other partner relationships, and is responsible for overall business development with counterparty firms. She previously held senior roles with UBS, in both the Wealth Management Group and UBS Equity Capital Markets.
Brian Carlisle joins as regional vice president and will be responsible for distribution of all investment products within the Ohio territory. Carlisle spent the previous five years at Van Kampen, and has covered Ohio and the surrounding areas for the past three years.
Fran Jacobs III joins as regional vice president for Northern California. Jacobs previously held an external wholesaling position with Mainstay-New York Life for California and Hawaii and has more than 15 years of experience in financial services sales and leadership roles at a number of leading firms.
Mark Vernon joins as regional vice president and will be responsible for distribution of all investment products in the Michigan territory. Vernon previously spent nearly seven years at Van Kampen Investments where he covered a similar footprint.
John Browning joins as managing director – portfolio supervision, after 18 years at Van Kampen Investments. John's responsibilities will include portfolio construction and oversight of trade execution for Claymore’s Unit Trust business.
For more information on Claymore please visit www.claymore.com.
CBOE Weeklys to Start on Thursdays
June 28, 2010--Beginning on Thursday, July 1, 2010 all new Weekly option series at CBOE will begin trading on Thursdays and expire the following Friday, offering expanded ‘roll’ opportunities, especially key for SPX Weeklys traders. Previously, new Weeklys series were listed on Fridays and expired the following Friday.
Root ticker symbols for Weeklys are now the same as the underlying security, so they can be found in standard options chains. For example, quotes for OEX Weeklys that expire on Friday, July 2, 2010 can be found in the OEX options chain.
Weekleys on Cash settled Indexes
For more information on Weekly options, visit: www.cboe.com/weeklys.
Van Eck files with the SEC
June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for
Investment Grade Floating Rate Bond ETF
Ticker:FLTR
view filing
Van Eck files with the SEC
June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for
Emerging Markets Local Currency Bond ETF
Ticker Symbol:EMLC
Total Annual Fund Operating Expenses: 0.49%
iShares files with the SEC
June 28, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for
iShares 10+ Year Credit Bond Fund
Ticker: CLY
view filing
Bankers pore over Wall St reform details
June 28, 2010--Some of the largest commodity traders on Wall Street could face changes under the US financial reform bill advanced by lawmakers last week, with some banks being forced to spin off the units that handle assets such as oil, gas, coal and industrial metals.
The bill would also require the Commodity Futures Trading Commission to limit the size of traders’ positions in commodity derivatives, potentially blocking large investors from using basic materials as an inflation hedge or a bet on global growth.
House and Senate lawmakers agreed to the bill’s language late last week, though the death on Monday of Robert Byrd, a Democrat in the US Senate, put final passage in doubt.
Global Equity Index & ETF Research -- US Weekly ETP Market Review
June 25, 2010--New Listings and Delistings
There were no new listings during the previous week.
Net Cashflows
Overall the US ETP market experienced outflows for $1.2 bn. Fixed Income, Commodity and Currency ETPs had inflows of $1.7 bn, $22 mm and $10 mm, respectively. Equity ETPs, in contrast, experienced outflows of $3.0 bn.
Within Equity ETPs, Small Cap ETPs received the largest inflows ($1.3 bn) followed by Emerging Markets Regional ETPs, while Large Cap ETPs saw the largest outflows ($3.1 bn) followed by US Sector ETPs.
Among Fixed Income ETPs, Corporates ($776 mm), and Sovereign ETPs ($450 mm) contributed the most to the positive flows within the asset class.
Within Commodity ETPs, Gold ETPs led the discrete inflows with an incipient $65 mm flow.
Turnover
Avg. Daily Turnover retreated for third week in a row, and decreased by 7.1% totaling $94 bn.
Assets Under Management (AUM)
US ETPs AUM increased by 2.3% totaling $829 bn at the end of the week. Equity ETPs account for 73% of the assets with $601 bn, followed by Fixed Income funds with $132 bn and 16% of market share.
To request a copy of the report
Lawmakers agree on historic Wall Street reform package
June 25, 2010--US lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation’s capital on Friday, handing President Barack Obama a major domestic victory on the eve of a global summit devoted to financial reform.
In a marathon session of more than 21 hours, legislators agreed to a rewrite of Wall Street rules that will crimp the industry’s profits and saddle it with tougher oversight and tighter restrictions.
The reform must still win final approval from both chambers of Congress before Obama can sign it into law, giving Wall Street one final chance to deploy its army of lobbyists on Capitol Hill. Quick approval is expected and the reform could go to Obama for his signature by July 4.
The bill has actually gotten tougher in its yearlong journey through the halls of Congress. Democrats rode a wave of public disgust at an industry that awarded itself rich paydays while much of the country struggled through a deep recession caused by its actions. “We worry about big money. I worry about big money having a corrupting influence, but it is reassuring to know that when public opinion gets engaged, it will win,” said Democratic Representative Barney Frank, who headed the panel.
Standard & Poor's licenses S&P 500 to Vanguard
June 25, 2010--Standard & Poor's, the world's leading index provider, announced today that is has licensed the S&P 500, the most widely followed gauge of the U.S. equity markets, to Vanguard for the creation and listing of an Exchanged Traded Fund (ETF) based upon the Index. The licensing agreement also enables Vanguard to launch eight new equity funds and ETFs targeting the growth and value segments of the S&P 500, and the growth, value and blend segments of the S&P MidCap 400 and the S&P SmallCap 600.
The agreement with Vanguard follows Standard & Poor's announcement in May that it had licensed seven European ETF sponsors to create and list S&P 500 Exchange Traded Funds on exchanges in major European cities. It also comes on the heels of Standard & Poor's groundbreaking March announcement that it had licensed the National Stock Exchange of India (NSE) to create and list Indian Rupee-denominated futures contracts on the S&P 500.(1)
"Since it was first published in 1957, the S&P 500 has served as the cornerstone for the global development of ETF products, as well as other index-based investments throughout the world," says Alex Matturri, Executive Managing Director at S&P Indices. "Our agreement with Vanguard, and just recently with the seven European ETF sponsors and the NSE, underscores Standard & Poor's commitment to providing global investors with greater access to the products they need to meet their trading objectives."
Widely regarded as the best single gauge of the U.S. equity market since it was first introduced in 1957, the S&P 500 Index has over $4.83 trillion benchmarked to it globally, and approximately $1.1 trillion indexed. The Index includes 500 leading companies in leading industries of the U.S. economy.
The S&P MidCap 400 provides investors with a benchmark for mid-sized companies. The Index seeks to remain an accurate measure of mid-sized companies, reflecting the risk and return characteristics of the broader mid-cap universe on an on-going basis.
The S&P SmallCap 600 measures the small cap segment of the market that is typically renowned for poor trading liquidity and financial instability. The Index is designed to be an efficient portfolio of companies that meet specific inclusion criteria to ensure that they are investable and financially viable.
For more information on all of Standard & Poor's indices, please visit www.standardandpoors.com/indices.
