Americas ETP News
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CFTC.gov Commitments of Traders Reports Update
May 31, 2019--The current reports for the week of May 31, 2019 are now available.
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Source: CFTC.gov
Direxion Changes Investment Objective and Index of Three Leveraged ETFs
May 31, 2019--The Board of Trustees of the Direxion Shares ETF Trust ("Trust") has approved changes to the investment objective, investment strategy and underlying index of the Direxion Daily MSCI Real Estate Bull 3X Shares, Direxion Daily MSCI Real Estate Bear 3X Shares (collectively, the "Real Estate Funds"), and Direxion Daily Pharmaceutical & Medical Bull 3X Shares (the "Pharmaceutical Fund"), (each a "Fund" and collectively, the "Funds").
Effective August 1, 2019, each Fund's underlying index will change as shown in the table below and all references to each Fund’s current index in each Fund’s respective Summary Prospectus, Prospectus and SAI will be replaced with the respective new index:
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Source: Direxion
U.S. Weekly FundFlows Insight Report: Fund Investors Duck for Cover for the Week
May 30, 2019--For the first week in six, investors were overall net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $8.6 billion for Lipper's fund-flows week ended May 29, 2019.
Once again, fund investors were net purchasers of money market funds (+$17.5 billion, their sixth consecutive week of net inflows) and municipal bond funds (+$919 million), but were net redeemers of equity funds (-$22.0 billion) and taxable fixed income funds (-$5.1 billion).
Market Wrap-Up
For the fund-flows week ended May 29, 2019, the broad-based U.S. indices suffered their largest one-week decline since the fund-flows week ended December 19, 2018, as investors lamented a protracted U.S./China trade standoff.
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Source: Refinitiv
iM Global Partner and Dynamic Beta investments Launch Managed Futures Strategy Exchange Traded Fund
May 30, 2019--iM Global Partner and Dynamic Beta investments (DBi) announce the launch of the iM DBi Managed Futures Strategy ETF, one of the first actively-managed Managed Futures exchange traded funds (ETF) on the market.
In a context of markets turmoil, iM Global Partner and DBi are deeply convinced that the iM DBi Managed Futures Strategy ETF should meet investors' needs of liquidity and transparency.
The Fund's objective is long-term capital appreciation by investing in multiple asset classes such as equities, fixed income, currencies and commodities through futures and forwards contracts.
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Source: iM Global Partner
LPL Financial Lowers ETF Pricing on RIA Platforms
May 30, 2019--LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced its next major pricing enhancement, part of its continuing efforts to reduce and simplify pricing for advisors across platforms. Advisors will be able to take advantage of 45 percent lower transaction charges from several leading providers of exchange-traded funds (ETFs).
The products are offered on LPL's Strategic Asset Management (SAM) and Strategic Wealth Management (SWM) platforms, rep-managed platforms designed for advisors leveraging the firm’s corporate, hybrid or RIA-only platforms.
ETF transaction charges will drop from $9.00 to $4.95 for State Street, Invesco and WisdomTree, and LPL is pursuing similar partnerships with other sponsors. The new pricing goes into effect during the second half of the year. The reduction will be offered at no cost to advisors or their clients, and will apply to all SAM and SWM transactions of the participating sponsors.
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Source: LPL Financial Holdings, Inc.
Indxx 5G & NextG Thematic Index Licensed by First Trust for Exchange Traded Fund
May 30, 2019---Indxx is pleased to announce the Indxx 5G & NextG Thematic Index (the "Index") has been licensed to US-based ETF provider First Trust Advisors as the underlying benchmark for the First Trust Indxx NextG ETF (NASDAQ:NXTG), which began trading today.
The Index (ticker:INXTG) is designed to track the performance of companies that are at the core of the research and development of the new 5G cellular technology and next generation technologies as they emerge. The Index seeks to include only companies that have devoted material resources or made material commitments to the use of 5G technology. 5G is the next (fifth) generation of cellular technology, which promises to greatly enhance the speed, coverage and responsiveness of wireless networks.
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Source: Indxx
Black Tulip Asset Management Democratizes Access to Alternative Investments in the Entertainment Industry with FlexFunds
May 29, 2019--Black Tulip Asset Management LLC, a Miami-based alternative asset management company exclusively focused on advising and structuring exchange-traded products (ETPs) for European capital markets, announces it is launching multiple ETPs with FlexFunds, a globally recognized service provider in asset securitization, allowing access to the entertainment industry.
Technology and a raft of new players in both entertainment production and distribution has forever changed the industry's competitive landscape: Netflix, Apple, Alibaba, Tencent, Google, Hulu and Amazon. Traditional pay TV platforms have been forced to adapt.
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Source: FlexFunds
CFTC.gov Swaps Report Update
May 29, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Lending start-up SoFi closes $500 million funding round, led by Qatar
May 29, 2019--Social Finance, better known as SoFi, closed a $500 million funding round Wednesday led by Qatar Investment Authority valuing the personal finance company at $4.3 billion.
The start-up plans to use the cash to invest in more growth and strengthen its now $2.3 billion total balance sheet, SoFi said in a press release.
The round also included former investors and CEO Anthony Noto, Twitter’s former chief operating officer and a former managing director at Goldman Sachs.
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Source: CNBC
Canadian Institutions Turn to ETFs in Challenging Markets
May 29, 2019--Executive Summary
Canadian institutions made aggressive use of exchange-traded funds in their portfolios last year as they
navigated a sharp market downturn, a surge in volatility and a series of unpredictable geopolitical events. As
they contend with these risks and implement the adjustments needed to reposition their portfolios, growing
numbers of Canadian institutions are using ETFs to strategically replace other investment vehicles.
Building upon an already robust use of ETFs, institutions are adding the funds to their portfolios for three main
reasons:
Flexibility, Ease of Use and Cost-Effectiveness: ETFs have proven to be highly flexible vehicles that institutions find easy to use and cost-effective when taking on both strategic and tactical investment exposures across asset classes and portfolio functions.
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Source: Greenwich Associates
