Americas ETP News
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Invesco shuts down 19 ETFs
February 22, 2019--Invesco has spent years expanding its product range through acquisitions, including takeovers of Guggenheim and OppenheimerFunds, but this week dropped 19 exchange-traded funds from its product list.
That brings the number of funds the investment manager has closed this year to 24.
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Source: Smartbrief
Fed says U.S. economy ended 2018 with solid but weakening growth
February 22, 2019--The U.S. economy maintained "solid" growth through the second half of 2018, likely expanding "just under" 3 percent for the year, though consumer and business spending had begun to weaken, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress.
In a document that balanced its mostly positive outlook for a still growing economy against an array of emerging domestic and global risks, the U.S. central bank laid out why it had put further interest rate hikes on hold last month.
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Source: Reuters
CME Bitcoin Futures See Biggest Day Ever: Even in Midst of Bear Market
February 22, 2019--It isn't a secret that 2018's Bitcoin price crash deterred an array of investors. Bitcoin.info, a leading cryptocurrency analytics provider, has statistics that indicate mentions of the flagship cryptocurrency on Twitter are nearing levels seen in mid-2016, prior to the media ruckus seen during the most recent crypto bull run.
Yet, institutional players have seemingly continued to seek involvement in this budding space, making investments as cynics claim that cryptocurrency is meeting its end. Per exclusive data gathered by The Block, the Bitcoin futures market backed by the Chicago-based CME has garnered monumental levels of attention as of late.
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Source: blockonomi.com
DWS Group Expands Liquid Real Assets Product Line-Up
February 22, 2019--Xtrackers repurposes ETF to provide access to publicly traded international real estate securities
DWS Group today announced that as of Feb. 22, 2019, the Xtrackers MSCIAsia Pacific ex Japan Hedged Equity ETF (NYSE Arca: DBAP) will changeits name to Xtrackers International Real Estate ETF (NYSE Arca: HAUZ)and will switch its underlying index to the iSTOXX Developed andEmerging Markets ex USA PK VN Real Estate Index.
The new index is free-float capitalization weighted and provides exposure to publicly traded real estate securities in countries outside the United States.
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Source: DWS Group
CFTC Commitments Of Traders Reports Update
February 22, 2019--The current reports for the week of February 22, 2019 are now available.
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Source: CFTC.gov
Investors Don't Want to Replace You With a Robot: MDRT Survey
February 21, 2019--But many advisors are missing out on technology that could help improve their service, respondents said.
Americans have not outgrown human advisors, according to a study by Million Dollar Round Table. Rather, the study finds that their preference lies in combining the personal touch of an advisor alongside cutting-edge technology.
The study by MDRT, an independent association of more than 66,000 life insurance and financial services professionals from more than 500 companies in 72 nations and territories, explores the fintech revolution and attitudes regarding the use of tech to complement a traditionally human relationship-based industry.
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Source: thinkadvisor.com
Fidelity Posts Record Revenue, Profit Despite Market Swoon
February 21, 2019--Firm's operating income rose 19% to $6.3 billion in 2018, and revenue increased 12% to $20.4 billion
Fidelity Investments posted record operating profits and revenue for a third-straight year even as a stock-market selloff late last year shrunk the value of the assets it manages for clients.
The Boston-based firm said Thursday that operating income rose 19% to $6.3 billion in 2018. Revenue jumped 12% to $20.4 billion. A market rout at the end of 2018 helped push assets under management down 1%, to $2.42 trillion.
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Source: Wall Street Journal
U.S. Weekly FundFlows Insight Report: Despite a Good Week for the Market, Equity Funds Suffer Net Redemptions
February 21, 2019--For the first week in three, investors were overall net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $9.1 billion for Lipper's fund-flows week ended February 20. 2019.
Fund investors were net purchasers of taxable fixed income funds (+$3.0 billion) and municipal bond funds (+$1.5 billion), while being net redeemers of equity funds (-$1.8 billion) and money market funds (-$11.7 billion).
Market Wrap-Up
Markets generally continued their upward trek during the fund-flows week, cheering comments from a kinder, gentler Federal Reserve Board, increased optimism around a China/U.S. trade agreement, and improving economic reports. While the NASDAQ Composite Price Only Index (+0.93%) managed to string together its eighth consecutive upside session, the Russell 2000 Price Only Index (+2.51%) posted the strongest returns of the broad-based U.S. indices for the flows week, followed by the Dow Jones Industrial Average Price Only Index's 1.61% and the S&P 500 Price Only Index’s 1.15% plus-side returns.
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Source: Refinitiv
The FORUM at ETF Research Center-Stock Locator Enhanced with Mutual Fund Data
February 21, 2019--Reducing single-stock risk through diversification is one of the most important benefits delivered to investors by mutual funds and ETFs. Yet these funds often have exposure to a stock that can run well into double-digits, meaning that when the stock takes a big hit-say due to an earnings miss-investors in those funds are going to notice!
Our Stock Locator tool has long helped investors quickly find which ETFs hold a given stock, and how much exposure each fund has. Now we’ve added the holdings data for U.S. equity mutual funds, so you can see who else might have exposure to the stock you’re watching.
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Source: AltaVista Research
SPIKES Options Launched on MIAX
February 21, 2019--MIAX Options Executes Strategy to Transform Market as First True Competitor in Volatility Space
MIAX Options(R) on Tuesday began its first day of volatility options trading on the SPIKESTM Index (Ticker: SPIKE), an index designed with a fully-transparent process featuring pinpoint accuracy and radically faster dissemination.
SPIKES is a measure of the expected 30-day volatility in the SPDR(R) S&P 500(R) ETF (SPY), the most actively-traded exchange traded fund in the world, and was developed by T3 Index (T3), a firm that develops proprietary indexes.
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Source: MIAX
