Americas ETP News
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AGF Investments Launches AGF Enhanced U.S. Equity Income Fund
August 21, 2023--New offering available as a mutual fund with an ETF series option
AGF Investments Inc. (AGF Investments) (TSX:AGF.B) today announced that it is expanding its line-up with the launch of AGF Enhanced U.S. Equity Income Fund, which effective today is available as a mutual fund with an ETF series option.
Fund: AGF Enhanced U.S. Equity Income Fund
Fund Series: Series F Available
ETF Series Ticker: AENU (NEO Exchange)
Risk Rating: Medium
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Source: AGF Management Ltd.
Global X Expands International Access Suite with Launch of the Global X Brazil Active ETF (BRAZ) and the Global X India Active ETF (NDIA)
August 18, 2023--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of two actively managed emerging market funds: The Global X Brazil Active ETF (BRAZ) and the Global X India Active ETF (NDIA).
Brazil and India represent two of the largest and most dynamic emerging markets.
Brazil boasts a skilled workforce, abundant natural resources, and a quickly growing consumer market. With a recent pivot from its central banki and a new fiscal reform package from the government, Brazil is seen as one of the best cyclical opportunities on the map.
On the other side of the globe, growth in India continues to benefit from favorable structural reforms, strong government spending, and attractive labor costs. With attractive demographics, a strong education system, and a democratic governance system, we believe India represents one of the top structural opportunities in the world. Investors seeking strong long-term global growth prospects may consider increasing their exposure to these two markets as they move from asset-heavy, low return business models into more dynamic sectors.
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Source: Global X Management Company LLC
Vanguard to Expand Active Lineup with International Dividend Growth Fund
August 18, 2023--Vanguard today announced plans to launch Vanguard International Dividend Growth Fund, an actively managed equity fund that seeks to compound wealth over the long term by investing in international companies with sustainably growing dividends.
The fund will be managed by the same experienced investment team, from Wellington Management Company LLP, behind Vanguard Dividend Growth Fund. The International Dividend Growth Fund applies the time-tested investment philosophy of Wellington Management's Dividend Growth team to international stocks.
Investors can use the International Dividend Growth Fund as a meaningful component of their international equity holdings, and it can be paired with the U.S-focused Dividend Growth Fund to build a globally diversified, actively managed equity allocation," said Dan Reyes, global head of the Portfolio Review Department at Vanguard.
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Source: Vanguard
ETF investors set to pay for helping reduce meme stock risk
August 17, 2023--Mismatches as a result of the US transition to T+1 settlement next year will particularly affect ETFs, observers say
Exchange traded fund industry participants are bracing themselves to take on a costly transfer of risk from US retail brokers, such as Robinhood, when the US unilaterally implements T+1 settlement in May next year.
The move, which will reduce the standard US trade settlement cycle of two business days to just one for all securities (US Treasuries already settle on T+1), would reduce "credit, market and liquidity risks" for market participants, according to the US Securities and Exchange Commission.
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Source: ft.com
Coinbase wins approval to offer crypto futures trading in US
August 16, 2023--Coinbase Global (COIN.O) said on Wednesday it had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win even as it battles a lawsuit from the Securities and Exchange Commission (SEC).
The move will allow Coinbase to offer bitcoin and ether futures directly to eligible U.S. customers. Until now, only its institutional clients could trade in such products.
Coinbase shares climbed 3% to $81.55 after the approval, which was granted by the National Futures Association (NFA), a self-regulatory organization designated by the Commodity Futures Trading Commission (CFTC).
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Source: reuters.com
Madison Investments Debuts Actively-Managed ETF Suite with Launch of Madison Dividend Value ETF (DIVL)
August 15, 2023--Madison Investments, an independently-owned investment firm managing $22.9 billion in assets, today announces the launch of its first exchange-traded fund (ETF), the Madison Dividend Value ETF (NYSE: DIVL).
The actively-managed, income-oriented ETF marks the debut of Madison Investments' ETF suite, which is designed to help investors pursue income and capital appreciation by employing institutional-caliber, risk-controlled investment strategies.
The firm plans to expand this suite in the coming weeks, with the launch of the Madison Covered Call ETF (NYSE: CVRD) and two active fixed income products: the Madison Aggregate Bond ETF (NYSE: MAGG) and the Madison Short Term Strategic Income ETF (NYSE: MSTI). Each active ETF utilizes a disciplined investment process to pursue consistent income and market-like growth with below-market risk.
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Source: Madison Investments
Cathie Wood's Ark 21Shares Bitcoin ETF Application Decision Pushed Out by SEC
August 11, 2023--The regulator is reviewing more than a dozen spot bitcoin and ether future ETF applications.
The U.S. Securities and Exchange Commission extended its review of the Ark 21Shares bitcoin exchange-traded fund application, as it continues to look at applications from traditional finance heavyweights such as BlackRock (BLK) and Fidelity Investments.
The SEC published an order calling for public input on the Ark 21Shares Bitcoin ETF application, a standard move that pushes any decision by another several weeks. The SEC has a total of 240 days to make a final decision on an application after it starts reviewing one. The SEC is giving the general public three weeks to weigh in on the proposal itself, and an additional five weeks to respond to those initial slate of comments.
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Source: ft.com
US SEC delays decision on Cathie Wood's spot bitcoin ETF
August 11, 2023--The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve Cathie Wood-led Ark Investment Management's (ARK) spot bitcoin exchange-traded fund (ETF), a filing by the regulator showed on Friday.
The SEC is seeking public comment on the Ark 21Shares Bitcoin ETF application, and has pushed back the decision date by several weeks to potentially months. It was previously due to make a decision by Aug. 13.
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Source: reuters.com
BlackRock Canada Announces Changes to its iShares Fund Lineup
August 11, 2023--BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. ("BlackRock") (NYSE:BLK) announced plans today to terminate the following funds (collectively, the "Terminating Funds"), based on an ongoing process to review its product lineup and meet the evolving needs of Canadian investors.
Each Terminating Fund will terminate on or about the applicable termination date set out below (with respect to a Terminating Fund, its "Termination Date").
Terminating Fund Name: iShares MSCI Multifactor USA Index ETF
Ticker: XFS/
XFS.U
Termination Date: October 24, 2023
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Source: BlackRock Asset Management Canada Limited
Index-Tracking ETFs Were All the Rage, Until Now
August 11, 2023--Active funds offered by JPMorgan, Dimensional gain popularity, take market share from giants like BlackRock
The titans of the ETF industry are facing competition in the battle for new money.
BlackRock, Vanguard Group and State Street have long had a chokehold on the market for exchange-traded funds, largely through the passive index-tracking funds that helped make ETF investing popular.
Active funds hold only 4% of ETF assets but account for 23% of ETF inflows so far this year.
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Source: wsj.com
