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Federated Hermes, Inc. launches Total Return Bond ETF
January 4, 2024--New active fixed-income product expands ETF offerings
Federated Hermes, Inc., a global leader in active, responsible investing, today announced the launch of the Federated Hermes Total Return Bond ETF. The new actively managed ETF benefits from Federated Hermes' 50 years of experience managing fixed-income securities, a veteran portfolio management team and the advantages of an ETF structure.
The Federated Hermes Total Return Bond ETF seeks to provide total return by investing in a broad mix of bond sectors that the portfolio management team believes will benefit from changes in economic and market conditions, a process similar to the core plus investment strategy of the Federated Hermes Total Return Bond Fund.
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Source: Federated Hermes, Inc.
Bitcoin ETFs Are Almost Here. The Fee War Is Already Heating Up.
January 3, 2023--The first Bitcoin BTCUSD exchange-traded funds could launch as soon as next week, but the fee wars between the likes of Fidelity Investments and Invesco have already begun.
Those companies for the first time are detailing in federal filings their planned fees for some of the most anticipated funds in history. The filings show that while the launch of ETFs could end up bolstering the coins, they aren't likely to be a bonanza for the companies offering them, at least in the near term.
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Source: barrons.com
Thematic fund investors miss two-thirds of potential returns, research shows
November 29, 2023--Buying high and selling low meant investors earned 2.4% a year while total returns were 7.3% a year
Investors in funds that follow a narrow theme have lost out on more than two-thirds of their potential total returns over the past five years due to buying high and selling low, research from Morningstar reveals.
Thematic funds that existed for the entire five-year period ending June 30 enjoyed annualised returns of 7.3 per cent, but the typical investor received only 2.4 per cent a year as many bought in after the bulk of returns had been made.
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Source: ft.com
YieldMax Launches Option Income Strategy ETF on C3.ai (AI)
November 28, 2023--YieldMax announced the launch today of the following ETF:
YieldMax AI Option Income Strategy ETF (NYSE Arca: AIYY)
AIYY seeks to generate monthly income via a synthetic covered call strategy on C3.ai, Inc. (AI).
The ETF is actively managed by ZEGA Financial. AIYY does not invest directly in AI.
AIYY is the newest member of the growing YieldMax ETF family and, like all YieldMax ETFs, aims to deliver monthly income to investors.
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Source: YieldMax
Minutes of the Federal Open Market Committee-October 31-November 1, 2023
November 21, 2023--Developments in Financial Markets and Open Market Operations
The manager turned first to a review of developments in financial markets over the intermeeting period. Financial conditions continued to tighten, driven by higher yields on Treasury securities as well as by lower equity prices and a stronger dollar, which themselves partly reflected higher interest rates.
Because earnings expectations had held up well in recent months, the effect of higher interest rates on equity prices likely took place largely through valuations.
The rise since July in yields on longer-dated nominal Treasury securities was mostly attributable to increases in real yields. There were small increases in inflation compensation, but the levels of spot and forward rates were within historical ranges. The manager also noted that survey measures pointed to generally stable inflation expectations, especially at longer horizons, and that inflation expectations remained well anchored.
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Source: federalreserve.gov
Global X replaces chief executive of $39bn ETF manager
November 19, 2023--Luis Berruga helped build the Mirae subsidiary into one of sector's largest providers
Global X ETFs, the $39bn US asset manager owned by Mirae Asset Global Investments, is replacing its chief executive officer with an interim leader from the parent company.
Luis Berruga is stepping down effective from Monday after five years as CEO of Global X, the New York-based company confirmed.
He spent nearly 10 years in total with the company, a provider of more than 100 exchange traded funds known for its thematic offerings and which has become one of the 15 largest US ETF groups. Berruga joined the firm in 2014 as chief operating officer, became chief financial officer in 2015 and was promoted to president in 2018.
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Source: ft.com
With spot bitcoin ETFs looming, clock ticks on futures products
November 19, 2023--Two years ago the first US exchange traded fund linked to bitcoin became the fastest ETF to hit $1bn in assets. The ProShares Bitcoin Strategy ETF (BITO) now stands at $1.4bn, and it tracks the crypto token through futures.
This type of product has been the only way for US investors to add bitcoin ETFs to their portfolios, as regulators have not approved numerous applications to launch ETFs tracking the crypto token itself.
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Source: finance.yahoo.com
CoinShares Secures Strategic Option to Acquire Valkyrie Funds
November 16, 2023-- This option to acquire is the latest step in CoinShares' U.S. expansion, following the launch of Hedge Fund Solutions in September 2023.
CoinShares has also entered into a brand licensing agreement for Valkyrie's products notably its pending Bitcoin spot ETF.
Valkyrie will continue to operate as an independent entity until CoinShares decides to exercise its option which remains open until the end of Q1 2024.
CoinShares International Limited ("CoinShares" or "the Company", the leading European investment company specialising in digital assets, today announced it has secured an exclusive option to acquire Valkyrie Funds LLC ("Valkyrie Funds"), the U.S. digital asset manager's investment advisory business specialising in actively managed cryptocurrency exchange traded funds, from Valkyrie Investments Inc. ("Valkyrie Investments").
CoinShares' option to acquire Valkyrie Funds from Valkyrie Investments, is active from now until its expiry on 31 March 2024.
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Source: CoinShares International Limited
Amplify rolls out first SOFR-based ETF for income seekers
November 15, 2023--Amplify Investments teamed up with the asset management division of Korean conglomerate Samsung to launch a new actively managed exchange traded fund (ETF) designed to deliver returns tied to the Secured Overnight Financing Rate (SOFR).
The Amplify Samsung SOFR ETF , which debuted Wednesday, is the first ETF to track SOFR, the overnight interbank lending rate that has emerged as the U.S. replacement for the now-defunct Libor gauge of overnight borrowing interest costs.
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Source: reuters.com
SEC Delays Decision on HashDex Bitcoin Spot ETF Application, Grayscale Ether Futures Filing
November 15, 2023--Franklin Templeton also has an outstanding bitcoin ETF application with a Nov. 17 decision deadline.
The U.S. Securities and Exchange Commission (SEC) is delaying a decision on an application by Hashdex to convert its existing bitcoin futures exchange-traded fund (ETF) into a spot vehicle. The agency has also delayed action on Grayscale's attempt to launch a new futures-based ether ETF.
Hashdex filed to convert its bitcoin futures ETF into a spot bitcoin ETF in September. Grayscale (a subsidiary of CoinDesk parent Digital Currency Group) filed for its ether futures ETF that same month. Both filings faced initial deadlines of Nov. 17 for a decision, but the SEC today said it was extending this window, according to a pair of Wednesday filings.
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Source: coindesk.com