Americas ETP News
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MFS, home of first-ever mutual fund, jumps into ETFs
November 15, 2023--Boston-based firm that created the mutual fund embraces fast-rising rival fund structure
MFS Investment Management plans to launch its first exchange traded funds as early as next year, the company has confirmed, bringing the largest holdout mutual fund manager in the US into the ETF market.
The move is particularly notable, given that the Boston-based house created the world's first mutual fund, the Massachusetts Investors Trust, in 1924.
"These ETFs will provide enhanced vehicle choice for clients to access the long-term value MFS creates," a spokesperson wrote in an email, noting that the ETFs will be transparent and actively managed.
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Source: ft.com
Fidelity files for Vanguard-style ETF share class
November 15, 2023--Vanguard's patent on the ability to offer ETF share classes of mutual funds expired in May
Fidelity has filed to adopt Vanguard's ETF multi-share class structure, becoming the third manager to do so.
In two filings with the Securities and Exchange Commission, the manager proposed allowing an unspecified number of open-end mutual funds to list ETF shares. Fidelity described the applicable funds as being "in general" actively managed and pursuing a total return investment mandate.
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Source: ft.com
Guardian Capital LP Launches ETF Series of Canadian and International Equity Funds
November 14, 2023--New ETF series provide greater access to key actively managed strategies
Guardian Capital LP (Guardian Capital) is pleased to announce the launch of an exchange traded fund (ETF) series for each of Guardian Canadian Focused Equity Fund and Guardian International Equity Select Fund (the Guardian Funds). The ETF series are expected to commence trading on the Toronto Stock Exchange (TSX) when the market opens this morning.
These two strategies have been available in mutual fund and separately managed account formats for many years, and these ETF series launches represent a continuation of Guardian Capital's ongoing effort to provide investors and their advisors with convenient access to institutional-quality investment mandates in various vehicle types that best suit their needs and preferences.
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Source: Guardian Capital LP
SEC Announces Enforcement Results for Fiscal Year 2023
November 14. 2023--Commission filed 784 enforcement actions, obtained orders for nearly $5 billion in financial remedies, and distributed nearly $1 billion to harmed investors
The Securities and Exchange Commission today announced that it filed 784 total enforcement actions in fiscal year 2023, a 3 percent increase over fiscal year 2022, including 501 original, or "stand-alone," end individuals from certain functions in the securities markets based on criminal convictions, civil injunctions, or other orders and 121 actions against issuers who were allegedly delinquent in making required filings with the SEC.
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Source: SEC.gov
Crypto Investment Pioneers 21Shares and ARK Invest Launch Suite of Actively-Managed Digital Asset ETFs
November 14, 2023--Five funds deliver access to innovative alpha-generating strategies on bitcoin and ether futures with cutting-edge research
21Shares US LLC ("21Shares"), an affiliate of 21Shares AG, the issuer of the world's largest suite of cryptocurrency-backed exchange traded products (ETPs), and ARK Investment Management LLC ("ARK" or "ARK Invest"), an investment adviser focused on investing in disruptive innovation, today announced the launch of a suite of five actively-managed bitcoin and ethereum futures ETFs, marking a watershed moment in the cryptocurrency investment landscape.
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Source: 21Shares
Investors pull record sums from corporate bond ETFs as lending rates soar
November 10, 2023--US Treasury exchange traded funds draw nearly $30bn of inflows in September
Investors pulled record sums from corporate bond exchange traded funds and pumped money into lower-risk government equivalents last month as benchmark lending rates soared to 16-year highs.
Corporate bond ETFs leaked a net $9.4bn in October, according to figures from asset manager BlackRock, exceeding the previous record of $9.2bn in June last year, when strong US inflation data prompted fears of aggressive rate rises.
In contrast, government bond ETFs sucked in $30.4bn, nearly double the level in September, with almost all this money heading into US Treasury funds.
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Source: ft.com
ARK Invest and 21Shares partner to launch digital asset ETF suite
November 9, 2023--Five digital asset ETF products will be listed on the Chicago Board Options Exchange and start trading next week.
Investment management firm ARK Invest, led by pro-Bitcoin investment veteran Cathie Wood, has collaborated with exchange-traded product (ETP) provider 21Shares to launch a new suite of digital asset exchange-traded funds (ETFs).
The move aims to provide a "robust set of options" for investors looking to get digital assets into their trading portfolio.
According to the 21Shares website, the companies will utilize on-chain signals and their crypto-native experience to deliver "long-term capital appreciation" by investing in Bitcoin and Ether futures contracts.
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Source: cointelegraph.com
CBO-Monthly Budget Review: Summary for Fiscal Year 2023
November 8, 2023--Summary
In fiscal year 2023, which ended on September 30, the federal budget deficit totaled nearly $1.7 trillion-an increase of $320 billion (or 23 percent) from the shortfall recorded in the previous year. Revenues and outlays alike declined from 2022 totals-revenues fell by 9 percent, or $457 billion, and outlays decreased by 2 percent, or $137 billion.
Those amounts differ only slightly from the amounts CBO estimated and discussed in last month's Monthly Budget Review.
In 2023, the deficit was equal to 6.3 percent of the nation's gross domestic product (GDP). That deficit is greater than the 50-year average of 3.7 percent and has been exceeded only six times since 1946 (from 2009 through 2012 and in 2020 and 2021). Compared with the size of the economy, federal debt held by the public also increased in 2023-rising to 97.3 percent of GDP from 95.8 percent of GDP at the end of fiscal year 2022.
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Source: CBO (Congressional Budget Office)
Qraft rolls out latest AI-driven ETF with South Korea's LG
November 7, 2023--Qraft Technologies on Tuesday launched its fifth exchange-traded fund (ETF) that relies on artificial intelligence to select holdings, continuing its expansion of the niche AI ETF market.
The LG Qraft AI-Powered U.S. Large-Cap Core ETF will combine Qraft's existing AI models with additional AI-powered forecasting tools developed by LG (003550.KS), the South Korean electronics conglomerate.
LG AI Research, a division of LG, has been applying artificial intelligence to everything from supply and demand forecasting to raw materials purchasing decisions.
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Source: reuters.com
BlackRock Canada Announces Final Termination Proceeds Relating to the Termination of Certain iShares Funds
October 30, 2023--BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. ("BlackRock") (NYSE:BLK) today announces additional information regarding the termination of the following funds (the "Terminating Funds") that was announced on August 11, 2023.
Terminating Fund Name: iShares MSCI Multifactor EAFE Index ETF (CAD-Hedged)
Ticker: XFF
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Source: BlackRock Asset Management Canada Limited
