Americas ETP News
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Investors should be wary as private equity firms switch structures
May 26, 2019--It is only a matter of time before one of the big investment groups runs into trouble
Since Blackstone's 2007 initial public offering. US alternative fund managers have scrambled to join the stock market, with the idea of giving their founders a way out-a notoriously challenging process in private partnerships.
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Source: FT.com
Source: FT.com
Lipper U.S. Weekly FundFlows Insight Report: Funds Take in Net New Money for the Fifth Straight Week
May 24, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) had net positive flows of $32.3 billion for the fund-flows trading week ended Wednesday, May 22.
This represents the fifth consecutive week funds took in net new money. Money market funds (+$28.4 billion) took in the most net new money for the fourth straight week, while equity funds (+$2.7 billion) and municipal bond funds (+$1.5 billion) also contributed to the total net inflows.
Taxable bond funds experienced net outflows of $236 million last week.
Market Overview
The equity markets were mixed last week as the Dow Jones Industrial Average and S&P 500 Index recorded gains of 0.50% and 0.19%, respectively, while the NASDAQ Composite Index retreated 0.91%.
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Source: Refinitiv
Exchange Traded Concepts to Close and Liquidate the ETF Industry Exposure & Financial Services ETF
May 24, 2019--After careful consideration, Exchange Traded Concepts, LLC, the Fund's investment adviser, in consultation with Toroso Investments, LLC, the Fund's sponsor, has recommended, and the Board of Trustees of Exchange Traded Concepts Trust has approved, the termination and liquidation of the Fund pursuant to the terms of a Plan of Liquidation.
Accordingly, the Fund is expected to cease operations and liquidate on or about June 20, 2019 (the "Liquidation Date").
The Fund will be closed to orders for new creation units on June 12, 2019, and the last day of trading the Fund's shares on the NYSE Arca Exchange, Inc. will be June 18, 2019.
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Source: Exchange Traded Concepts, LLC
IMF Brazil: Staff Concluding Statement of the 2019 Article IV Mission
May 24, 2019- These reforms are essential to boost potential growth. The monetary stance is appropriately supportive at present.
A sluggish recovery is underway, constrained by subdued aggregate demand and lackluster productivity. A robust social security reform and additional fiscal measures are necessary to put public debt on a sustainable trajectory, thereby boosting investor confidence. The mission welcomes the government's ambitious reform agenda which includes pension reform, privatization, trade openness, tax reform, and reducing state intervention in credit markets.
1. The recovery remains sluggish. After contracting by almost 7 percent during the 2015-16 recession, real GDP grew by only 1.1 percent per year in 2017 and 2018. Short-term indicators show that weakness persisted in Q1. Investment remains subdued, held back by large spare capacity and lingering uncertainty about the prospects for fiscal and structural reforms.
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Source: IMF
WisdomTree launches ETF targeting modern tech platforms
May 23, 2019--WisdomTree has launched a new fund in the US providing exposure to companies operating platform business models.
The WisdomTree Modern Tech Platforms Fund (PLAT US) has been listed on NYSE Arca and comes with an expense ratio of 0.45%.
WisdomTree defines a modern technology platform as a company with a non-linear, multi-sided business model focused on creating value by facilitating interactions between two or more interdependent groups through technology.
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Source: etfstrategy.com
AGF Launches Two New U.S.-Listed AGFiQ ETFs to Expand Presence in U.S. Marketplace
May 23, 2019--Also announces FFCM LLC has been renamed AGF Investments LLC
AGF Management Limited (AGF) announced today, through AGF Investments LLC (formerly FFCM LLC) the launch of AGFiQ Global Infrastructure ETF (GLIF) and AGFiQ Dynamic Hedged U.S. Equity ETF (USHG), which begin trading on the NYSE Arca, Inc. effective May 23, 2019.
These two new U.S.-listed ETFs provide AGF with the opportunity to leverage their capabilities and bring to the U.S. marketplace additional innovative strategies through their quantitative and factor-based investment platform -AGFiQ.
"The launch of these new products reinforces AGF's commitment to bringing new alternative solutions to investors in the U.S.," said Bill Carey, Chief Executive Officer, AGF Investments LLC. "At the same time, it supports the further growth of AGF's footprint in the U.S., leveraging the organizational strength, research acumen, investment capabilities and marketing and product development."
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Source: AGF Management Ltd.
Alpha Architect launches freedom-weighted EM ETF
May 23, 2019--Alpha Architect has launched a new ETF in the US that offers a unique approach to investing in emerging market equities.
The Freedom 100 Emerging Markets ETF (FRDM US) selects and weights countries according to the freedoms enjoyed by their citizens.
The fund is linked to the Life + Liberty Freedom 100 Emerging Markets Index which starts with a universe of 26 emerging market countries, each of which has a stock market that accounts for at least 0.15% of global market capitalization.
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Source: etfstrategy.com
Exchange Traded Concepts Partners with Qraft Technologies to Launch Two Artificial Intelligence (AI) Powered ETFs
May 23, 2019--Exchange Traded Concepts, LLC ("ETC"), a leader in providing white-label Exchange Traded Fund (ETF) solutions, in conjunction with Qraft Technologies, today announced that it has launched two ETFs. The Qraft AI Enhanced U.S. Large-Cap ETF (NYSE ARCA: QRFT) and The Qraft AI Enhanced U.S. Large Cap Momentum ETF (NYSE ARCA: AMOM).
The Qraft AI Enhanced U.S. Large-Cap ETF (QRFT) seeks to provide dynamic exposure to five main factors affecting the U.S. stock market, namely, quality, size, valuation, momentum, and low risk. Certain causes or conditions may affect the returns to these basic investment factors. To create optimal factor weights, the fund using artificial intelligence (AI) technologies to continuously learn the correlation of factor returns with various macroeconomic and valuation conditions. Artificial Intelligence may be able to identify data patterns that are not readily discernable to humans and to continuously learn the correlation of factors to these causes or conditions. The investment system returns stock weights that are in line with the targeted factor weights for the portfolio.
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Source: Exchange Traded Concepts, LLC
More active managers are beating the stock market again thanks to the trade war: Goldman Sachs
May 23, 2019--Active stock pickers are having one of their best years since the financial crisis, and these money managers can thank rising U.S.-China trade tensions for their better fortunes, according to analysts at Goldman Sachs.
The analysts, led by Arjun Menon, wrote in a Wednesday research note that 42% of large-cap active mutual funds are outperforming their benchmarks so far in 2019, well above the 34% rate averaged during the last decade.
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Source: marketwatch.com
SEC requires more information on exchange fee increases, starts fee pre-pilot
May 22, 2019--Stock exchanges will have to provide more details before being allowed to raise fees or offer discounts to some traders, the Securities and Exchange Commission said in new guidelines issued Tuesday.
In addition to clearly describing proposed fee increases for market data or connectivity, exchanges will have to prove that the fees are "reasonable, equitably allocated, not unfairly discriminatory and not an undue burden on competition," the staff guidance said. Before an exchange can offer a discount, it "must explain why that structure represents an equitable allocation of fees," the SEC said.
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Source: pionline.com
