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Ftse Russell Long/Short Indexes Selected for new ETFs
January 23, 2019--New long/short indexes enable investors to extend their market views
FTSE Russell is pleased to announce the launch of new long/short indexes, part of the FTSE Index-Level Composite Index Series, which global investment manager Direxion has selected as the underlying benchmarks for six new ETFs.
The FTSE Index-Level Composite Index Series is designed to measure the relative performance of a combination of component indexes in paired market exposures. These indexes provide a base for investors who wish to express a view on a specific market segment or theme by taking the long position, while simultaneously using the short position to overweight the bull exposure.
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Source: FTSE Russell
CIBC becomes last of big five banks to join ETF parade
January 22, 2019--Canadian Imperial Bank of Commerce has started offering its own exchange-traded funds, becoming the last of the country's big five banks to enter a marketplace that's now outselling mutual funds.
The firm's CIBC Asset Management is offering two strategic beta equity ETFs--one with a currency hedged option--and two actively managed fixed income ETFs, with management fees ranging from 0.25 per cent to 0.35 per cent, the Toronto-based lender said Tuesday in a statement. The ETFs begin trading today on the Toronto Stock Exchange.
view more Lipper U.S. Mutual Funds & ETPs Q4 2018 Snapshot
Highlights:
view more The EDHEC-Princeton Retirement Goal-Based Investing Index Series January 2019 Highlights Goal Price Index Series view more FINRA 2019 Annual Risk Monitoring and Examination Priorities Letter view more Lipper U.S. Weekly FundFlows Insight Report: Funds Suffer Net Outflows Driven by Money Market Funds
Market Overview
view more State Street to lay off 1,500 in turn toward automation view more FTSE Russell Dividends helped smooth the small-cap roller coaster ride in 2018 view more Morningstar says investors rushed the exits in 2018 view more US active funds suffer $143bn 'exodus' in December
Source: bnnbloomberg.ca
January 22, 2019--In this issue of Lipper's U.S. Mutual Funds & Exchange-Traded Products Snapshot we feature a summary of total net assets (TNA), estimated net flows, new fund creations, and fund liquidations for conventional funds and exchange-traded products (ETPs) for Q4 2018, comparing the changes to those of prior quarters and highlighting the largest individual gainers and losers of both groups.
The Snapshot provides readers a powerful, easy-to-use guide and quick-reference tool to help them discern fund trends during the quarter.
TNA in the conventional funds business (not including ETPs and variable insurance products [VIPs]) declined $1.7 trillion from Q3 2018 to $17.732 trillion for Q4 2018.
Source: Refinitiv
January 21, 2019--Goal Price Index Series
As usual, monthly changes in Goal Price Indices are mainly driven by changes in US long-term interest rates.
The first 10 months of 2018 featured an increase in long-term rates, with the 10-year rate growing from about 2.4% right after New Year's Eve to more than 3% in October. In contrast, the last quarter saw a decrease that took the 10-year rate back to 2.7% at the turn of the year. As a result, all Goal Price Indices start the year at higher levels than where they were in early December..
Source: EDHEC-Risk Institute
January 21, 2019--We are pleased to release the 2019 FINRA Risk Monitoring and Examination Priorities Letter, which describes topics that member firms should consider as they identify opportunities to improve their compliance, supervisory and risk management programs.
This year's letter takes a somewhat new approach—as compared to similar letters issued in prior years-by focusing primarily on those topics that will be materially new areas of emphasis for our risk monitoring and examination programs in the coming year. FINRA will, of course, continue to review and examine for longstanding priorities discussed in greater detail in past letters, but we agree with the suggestion from many of our member firms that a sharper focus on emerging issues will help them better determine whether those issues are relevant to their businesses and how they should be addressed.
Source: FINRA
January 18, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) experienced net outflows of $14.2 billion for the fund-flows trading week ended Wednesday, January 16. Money market funds (-$15.0 billion) were responsible for the majority of the net negative flows as investors put money back to work.
Equity funds (-$4.4 billion) also contributed to the overall net outflows, while taxable bond funds and municipal debt funds had net inflows of $4.3 billion and $946 million, respectively.
The major equity indices continued to rebound from their fourth quarter slump as the Dow Jones Industrial Average (+1.37%), S&P 500 Index (+1.20%), and the NASDAQ Composite Index (+1.12%) all closed the fund-flows trading week with significant gains.
Source: Refinitiv
January 18, 2019--State Street Corp. plans to lay off approximately 1,500 employees in "high-cost locations" and ramp up efforts to automate its services to clients, the company said Friday.
The newly announced layoffs go far beyond the job cuts to senior management reported by the Business Journal earlier this month. The senior managers are believed to make up roughly 10 percent of the 1,500 layoffs.
Source: bizjournals.com
January 18, 2019--January 18, 2019--US small-cap stocks with a track record of strong dividend growth had higher returns and less volatility versus the broad universe of US small-caps in 2018, in line with a similar trend demonstrated over the last decade.
And, notably, this outperformance accelerated in fourth quarter during a particularly volatile period for US equities in general and US small-caps in particular
Source: FTSE Russell
January 17, 2019--Net flows into mutual funds and ETFs were the lowest since the 2008 financial crisis, while money-market funds captured inflows
Investors ran for cover in 2018, according to the latest data from Morningstar showing last year's level of net inflows into U.S. mutual funds.
Net inflows into ETFs were the lowest since 2008.
In a year that saw the S&P 500 Index finish down 4.4%, taking into account dividends, including a fourth-quarter drop of more than 12%, net flows into U.S. funds totaled just $157 billion. Last year's net flows are still huge compared to the $11 billion in net flows from 2008, but pose a stark contrast to the nearly $700 billion in net flows in 2017.
Source: investmentnews.com
January 17, 2019--Heaviest monthly outflows in 10 years as investors seek shelter in passive vehicles
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Source: FT.com