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UBS Now Offering NextSharesTM Exchange-Traded Managed Funds
November 20, 2017--UBS Financial Services Inc. (UBS) and NextShares Solutions LLC (NextShares Solutions), a wholly owned subsidiary of Eaton Vance Corp. (Eaton Vance), announced today the availability of NextSharesTM exchange-traded managed funds (NextShares) through the UBS brokerage platforms and UBS Strategic Advisor, a non-discretionary advisory program.
UBS is the first full-service wealth manager to offer NextShares through its financial advisor network.
NextShares are an innovative way to invest in actively managed strategies across fund asset classes, offering the potential for benchmark-beating returns by applying their manager's proprietary investment research.
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Source: BNP Paribas Asset Management
Janet L. Yellen will step down as a Member of the Board of Governors of the Federal Reserve System, effective upon the swearing in of her successor as Chair
November 20, 2017--Janet L. Yellen submitted her resignation Monday as a Member of the Board of Governors of the Federal Reserve System, effective upon the swearing in of her successor as Chair.
Dr. Yellen, 71, was appointed to the Board by President Obama for an unexpired term ending January 31, 2024. Her term as Chair expires on February 3, 2018. She also serves as Chair of the Federal Open Market Committee, the System's principal monetary policymaking body.
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Source: federalreserve.gov
CFTC.gov Commitments of Traders Reports Update
November 17, 2017--The current reports for the week of November 14, 2017 are now available.
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Source: CFTC.gov
Thomson Reuters-U.S. Fund-Flows Weekly Report: Funds Experience Positive Net Flows for the Second Consecutive Week
November 17, 2017--After taking in almost $17.5 billion of net new money the prior week Thomson Reuters Lipper's fund macro-groups (including both mutual funds and ETFs) had positive net inflows of $929 million for the fund-flows week ended Wednesday, November 15.
The net-positive flows stemmed from money market funds (+$2.7 billion) and municipal bond funds (+$418 million), while taxable bond funds (-$1.9 billion) and equity funds (-$240 million) both saw net money leave their coffers.
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Source: Thomson Reuters
Treasury Releases Memorandum to the President on FSOC's Designation Processes For Nonbank Financial Companies and Financial Market Utilities
November 17, 2017--The U.S. Department of the Treasury today released a memorandum to the President regarding its review of the designation processes of the Financial Stability Oversight Council (FSOC).
In response to the April 21, 2017 Presidential Memorandum, Treasury makes recommendations on ways to improve FSOC's processes both for nonbank financial company and for financial market utility designations. The memorandum released today responds to the Presidential Memorandum issued on April 21, 2017 that directed Treasury to evaluate and make recommendations on FSOC's designation processes.
view the REPORT TO THE PRESIDENT OF THE UNITED STATES-Pursuant to the Presidential Memorandum Issued April 21, 2017 Financial Stability Oversight Council Designations
Source: treasury.gov
FFCM LLC and O'Shares ETF Investments announce the closing of the two O'Shares Hedged ETFs for Developed Markets in Europe and Asia Pacific
November 17, FFCM LLC ("FFCM") and O'Shares Investments, Inc. ("O'Shares") announce the closing of the two ETFs listed below (the "Funds"). 2017--
Fund: O'Shares FTSE Europe Quality Dividend Hedged ETF
Ticker: OEUH
Fund: O'Shares FTSE Asia Pacific Quality Dividend Hedged ETF
Ticker: OAPH
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Source: O'Shares Investments
BlackRock-Global growth and rising rates set the stage
November 17, 2017--During the month of October, interest rates exhibited some volatility as the market digested headlines around the changing frontrunners for the Federal Reserve Chair nominee as well as the Republican Party's putative tax plans.
The U.S. 10-year Treasury yield started October at 2.33% and rose to its highest point in over seven months at 2.46%, but then rallied lower to finish the month at 2.38%. U.S. stocks reached new historic highs alongside the possibility of tax reform and solid third-quarter corporate earnings.
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Source: BlackRock
Renaissance Capital Scheduled U.S. IPOs-Week of 11/20/17
November 17, 2017---U.S. IPOs-Week of 11/20/17
IPO Commentary
2017 IPO state rankings: California clings to #1 spot with TX and NY close behind
Driven by Silicon Valley, California is again the most active state for 2017 IPO activity with 26 offerings so far this year.
The group averages an impressive 44%....
Private Equity-backed IPOs: Spotlight on KKR
47 companies have gone public in 2017 with private equity backing, up 42% from the 33 IPOs during the full-year 2016. KKR has brought 4 IPOs to market in 2017, by far the most active PE firm in...
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Source: Renaissance Capital
Guggenheim Investments to Close and Liquidate Guggenheim Large Cap Optimized Diversification ETF (OPD) in December
November 17, 2017--Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today announced it will close and liquidate Guggenheim Large Cap Optimized Diversification ETF (NYSE Arca:OPD).
In November 2017, the Board of Trustees of Claymore Exchange-Traded Fund Trust (the "Trust") approved the closing and subsequent liquidation of OPD.
Monday, December 18, 2017, will be the last day of trading on the NYSE Arca, Inc., for OPD ("the fund") which had $1.4 million in assets, or less than 0.0037% of Guggenheim Investments' total $38 billion in exchange-traded assets as of November 10, 2017.
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Source: Guggenheim Investments
