Americas ETP News
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ETFGI reports ETFs and ETPs listed in Latin America gather net inflows of US$635 million during December 2018
January 29, 2019--ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Latin America gathered net inflows of US$635 million during December.
During the month, total assets invested in the Latin American ETF and ETP industry increased 8.15%, from US$7.81 billion at the end of November, to US$8.44 billion, according to ETFGI's December 2018 Latin American ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Total Assets invested in ETFs and ETPs listed in Latin America increase 8.15% to $8.44 Bn in December.
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Source: ETFGI
Fidelity Is Said to Plan March Launch of Bitcoin Custody Service
January 29, 2019--Service may help institutional investors ease into crypto
Commonplace in other assets, custody's absence keeps pros out
Fidelity Investments is targeting a March launch date for its Bitcoin custody service, according to three people with knowledge of the matter, as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies.
In October, the Boston-based firm announced it would offer a range of crypto products designed for large investors like hedge funds. Bitcoin storage will be the first one available, according to employees of three firms that spoke with Fidelity in the past several weeks and asked not to be named discussing plans that are still private. Ether custody is expected to be next, they said.
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Source: Bloomberg
Taylor North American Equity Opportunities Fund Completes Merger With Brompton Global Dividend Growth ETF
January 29, 2019--Brompton Funds Limited (the "Manager"), the manager of Taylor North American Equity Opportunities Fund ("TOF") is pleased to announce the completion of the merger (the "Merger") of TOF into Brompton Global Dividend Growth ETF ("BDIV" and together with TOF, the "Funds") effective January 29, 2019.
The Merger was approved at a special meeting of unitholders of TOF held on November 30, 2018.
The Merger was implemented using exchange ratios based on the relative net asset value ("NAV") per unit of each of TOF and BDIV, each determined as at the close of business on January 28, 2019. The table below provides the NAV per unit for each of the Funds and the applicable exchange ratio at such time.
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Source: Brompton Funds
Thompson Hine Update-Preparing for the Next Generation of Actively Managed ETFs
January 29, 2019--Key Notes:
Many expect the SEC to soon approve newer versions of exemptive relief for the next generation of actively managed ETFs, which differ in how they keep the ETF's strategy secret, how they support the arbitrage process and potential intellectual property (IP) protection.
Five applicants have received and responded to SEC comments.
Potential sponsors of this next generation of ETFs should understand these different models and related IP implications to decide what path they want to follow to be able to offer these ETFs.
Many believe the SEC is poised to allow for the first time the next generation of actively managed ETFs, which differ from traditional ETFs in how they keep the ETF's strategy secret, how they support the arbitrage process and potential intellectual property protection.
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Source: Thompson Hine
Tidal ETF Services LLC Partners with Aware Asset Management to Launch AWTM
January 29, 2019--Liquid, Actively Managed, Ultra-Short Duration Bond ETF
Today Tidal ETF Services LLC is proud to announce the launch of their first ETF in partnership with Aware Asset Management, a Minnesota-based asset manager focused on fixed-income portfolio management.
The Aware Ultra-Short Duration Enhanced Income ETF (NYSE: AWTM) is the first ETF of its kind, an actively-managed fixed income ETF designed specifically for the unique needs of investors looking for cash-plus solutions.
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Source: Tidal ETF Services
Equium Capital Management Inc. Announces Fund Termination
January 29, 2019--Equium Capital Management Inc. ("Equium Capital"), the manager of Equium Global Tactical Allocation Fund (the "Fund"), today announced its intention to terminate the Fund, including the Series A, Series F and ETF Series (TSX: ETAC) units (collectively, the "Units") on or about March 29, 2019 (the "Termination Date").
Effective today, the Series A and Series F Units of the Fund are no longer available for purchase, including any purchases made pursuant to existing pre-authorized payment plans. It is anticipated that the ETF Series Units of the Fund will cease trading and be voluntarily delisted from the Toronto Stock Exchange on or about March 28, 2019 at the close of business. Effective February 28, 2019, no further subscriptions for ETF Series Units of the Fund will be accepted.
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Source: Equium Capital Management Inc.
CBO-The Budget and Economic Outlook: 2019 to 2029
January 29, 2019--In CBO's projections, deficits remain large by historical standards, and federal debt grows to equal 93 percent of GDP by 2029. As the effects of fiscal stimulus wane, projected economic growth falls back below the historical average.
Deficits
In CBO's projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Over the coming decade, deficits (after adjustments to exclude shifts in the timing of certain payments) fluctuate between 4.1 percent and 4.7 percent of gross domestic product (GDP), well above the average over the past 50 years. CBO's projection of the deficit for 2019 is now $75 billion less-and its projection of the cumulative deficit over the 2019–2028 period, $1.2 trillion less-than it was in spring 2018. That reduction in projected deficits results primarily from legislative changes-most notably, a decrease in emergency spending.
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Source: Congressional Budget Office (CBO)
The Forum at ETF Research Center-Save with our Mutual Fund Replacement Tool
January 28, 2019--Change Isn't Always Easy
Millions of investors know that ETFs are often cheaper and more tax-efficient than traditional mutual funds, among other advantages.
This awareness has helped ETFs gain market share over the past decade and a half as investors gradually shifted assets out of mutual funds and into ETFs.
There is plenty of room for that trend to continue. According to the Investment Company Institute, assets invested in U.S. equity ETFs exceeded $2.1 trillion as of November 2018. Yet that is still less than one-third of the $7.5 trillion invested in U.S. equity-focused mutual funds.
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Source: AltaVista Research
CBO-The Effects of the Partial Shutdown Ending in January 2019
January 28, 2019--Summary
The Congressional Budget Office has estimated the effects of the five-week partial
shutdown of the government that started on December 22, 2018, and ended on
January 25, 2019. This report presents CBO's findings, which include the following
: CBO estimates that the five-week shutdown delayed approximately $18 billion
in federal discretionary spending for compensation and purchases of goods and
services and suspended some federal services.
As a result of reduced economic activity' CBO estimates' real (that is' inflation-
adjusted) gross domestic product (GDP) in the fourth quarter of 2018 was
reduced by $3 billion (in 2019 dollars) in relation to what it would have been
otherwise. (Such references are in calendar years or quarters unless this report
specifies otherwise.) In the first quarter of 2019' the level of real GDP is
estimated to be $8 billion lower than it would have been-an effect reflecting
both the five-week partial shutdown and the resumption in economic activity
once funding resumed.
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Source: Congressional Budget Office (CBO)
ETFS Capital Invests $4 Million in ETFLogic, the New York City-based Leading ETF Analytics and Data Technology Company
January 28, 2019--ETFS Capital has provided an initial $4 million of seed funding to ETFLogic, the exchange traded fund (ETF) analytics and data company.
The parties anticipate that any future funding will also come from ETFS Capital, enabling ETFLogic to focus solely on developing its business without the need to source outside capital.
The tools that ETFLogic provide are incredibly useful to ETF issuers, financial advisers and anyone wishing to select which ETFs might be best for their client or portfolio.
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Source: ETFLogic
