Americas ETP News
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IMF Working Paper-Assessing House Prices in Canada
November 15, 2019--Summary:
This paper assesses house prices in 11 Canadian Census Metropolitan Areas (CMA) using the borrowing-capacity and the net-present-value approaches.
The results indicate that by the end of 2018, house prices in most metropolitan areas are aligned with macroeconomic fundamentals. However, in Hamilton, Toronto, and Vancouver house prices have increased beyond the values implied by the fundamentals.
view the IMF Working Paper-Assessing House Prices in Canada
Source: IMF
Defiance Launches NextGen Food & Sustainability ETF (DIET)
November 14, 2019--The DIET ETF offers access to disruptive companies driving technological trends in food sustainability
Defiance ETFs has announced the launch of The Defiance Next Gen Food and Agriculture ETF (NYSE: DIET), available for trading today, with an expense ratio of 0.30%.
The DIET ETF provides exposure to companies that are focused on technologies like alternative plant-based sources of meat, such as Beyond Meat (BYND), seed modification, sustainable farming and irrigation techniques.
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Source: Defiance ETFs
State Street to launch ETFs portals in 2020
November 13, 2019--State Street will phase in tech services for semitransparent exchange-traded funds next year.
The services will be free to give asset managers and hedge funds "better insights into what types of investors are purchasing their products, globally," says Frank Koudelka, global ETF product specialist at State Street.
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Source: globalinvestorgroup.com
State Street Named Servicing Provider for Avantis Investors' Inaugural ETFs
November 13, 2019--State Street Corporation (NYSE: STT) today announced that it has been appointed by Avantis Investors, a new unit within American Century Investments, to provide a range of broad ETF services for its five newly launched low-cost funds.
Services will include basket creation, custody, accounting, transfer agency and fund administration.
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Source: State Street Corporation
Academics accuse Morningstar of misclassifying bond funds
November 11, 2019--Trio alleges that funds report significantly safer portfolios than they actually hold
A group of academic researchers has taken aim at Morningstar, the financial services giant, arguing the company is luring investors into....
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Source: FT.com
Invesco bleeds $1bn a week as it tops worst-selling league table
November 10, 2019--Atlanta-based group hit by moves away from active managers and weak UK performance.
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Source: FT.com
CBO-Monthly Budget Review: Summary for Fiscal Year 2019
November 7, 2019--In fiscal year 2019, which ended on September 30, the federal budget deficit totaled $984 billion-$205 billion more than the shortfall recorded in 2018.
The deficit increased to 4.6 percent of the nation's gross domestic product (GDP) in 2019, up from 3.8 percent in 2018 and 3.5 percent in 2017. As a result, federal debt held by the public rose to 79.2 percent of GDP, up from 77.4 percent at the end of fiscal year 2018.
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Source: Congressional Budget Office (CBO)
Direxion Launches Four New 3X Leveraged ETFs on Popular Indexes
November 7, 2019--New ETFs Provide 300% Bull & Bear Exposure to High Beta and Internet Stocks
Direxion launched the Direxion Daily S&P 500(R) High Beta Bull and Bear 3X Shares (Tickers: HIBL/HIBS), and the Direxion Daily Dow Jones Internet Bull and Bear 3X Shares (Tickers: WEBL/WEBS). The Funds seek to achieve 300%, or 300% of the inverse, of the daily performance of the S&P 500(R) High Beta Index and Dow Jones Internet Composite Index.
The S&P 500(R) High Beta Index provides concentrated exposure to 100 stocks in the S&P 500 Index with the highest sensitivity, or beta, over the last 12 months, which may lead to magnified market movements.
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Source: Direxion
Fidelity Investments(R) Continues to Push the Investment Frontier With Launch of Four New Thematic Investment Products
November 7, 2019--Expands Fidelity's Existing Thematic Lineup to 16 Funds
Fidelity Investments, one of the largest and most diversified global financial services firms with more than $7.7 trillion in total client assets and more than $2.8 trillion in managed assets, today announced the launch of four new thematic investment products: Fidelity Enduring Opportunities Fund (FEOPX),
Fidelity Infrastructure Fund (FNSTX), Fidelity U.S. Low Volatility Equity Fund (FULVX), and Fidelity Stocks for Inflation ETF (FCPI).
"At a time when other financial services firms may be scaling back, Fidelity remains a market leader, focused on innovating in all aspects of our business,” said Colby Penzone, head of investment product.
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Source: Fidelity Investments
SEC calls out conflicts of interest in TDFs
November 7, 2019--Many sponsors of the popular 401(k) funds don't disclose their use of underlying in-house investments.
The Securities and Exchange Commission took aim at conflicts of interest in target-date funds on Thursday, calling out a fund structure that holds the majority of 401(k) investors' assets.
The agency's Office of Compliance Inspections and Examinations issued an alert saying some TDFs provided "incomplete and potentially misleading disclosures" around conflicts of interest, such as those that could arise from "the use of affiliated funds and affiliated investment advisers."
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Source: investmentnews.com
