Americas ETP News
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FAIR Act Expands Safe Harbor for ETF Research Reports Published by Broker-Dealers
November 28, 2017--On October 6, 2017, the Fair Access to Investment Research Act of 2017 (FAIR Act) was signed into law. The FAIR Act directs the SEC to amend Rule 139 under the Securities Act of 1933 to expand the Rule's safe harbor to provide that an investment fund research report regarding an ETF that is published or distributed by a broker-dealer, other than a broker-dealer that is, or is affiliated with, the ETF's investment adviser, will not constitute an offer to sell the ETF’s securities pursuant to an effective registration statement, even if the broker-dealer participates in the offering of the ETF's securities.
The FAIR Act provides that the expanded safe harbor may not be conditioned on a broker-dealer's initiating or reinitiating research coverage of an ETF that is engaged in a continuous distribution of shares.
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Source: lexology.com
AdvisorShares Lowers Total Net Expense Ratio for Top-Performing AADR International Equity ETF
November 28, 2017-- Five-star Morningstar ratedTN AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) recently surpassed $150 million AUM milestone.
AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) has lowered its total net expense ratio to 0.99%, by contractually agreeing to reduce the fund's expense limitation from 1.25% to 0.98%.1 The actively managed AADR recently surpassed $150 million in assets under management, which has allowed a significant reduction in the ETF's operating expenses as it has become more operationally-efficient.
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Source: AdvisorShares
Global Investor Confidence Declines in November by Only 1.0 point to 97.1
November 28, 2017--State Street Global Exchange today released the results of the State Street Investor Confidence Index(R) (ICI) for November 2017.
The Global Investor Confidence Index decreased to 97.1, down 1.0 point from October's revised reading of 98.1.
The minor decline in global sentiment was driven largely by a 12.0 point drop in the European ICI to 81.0. By contrast, the North American ICI rose by 3.7 points to 102.6 and the Asian ICI increased by 1.0 point to 97.5.
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Source: State Street Corporation
Vanguard To Introduce First Actively Managed ETFs With Suite Of Factor Funds
November 28, 2017--Vanguard today filed a registration statement for six new factor-based ETFs and one factor-based mutual fund, representing Vanguard's first introduction of actively managed ETFs in the U.S.
The company currently offers suites of active factor ETFs in Canada and the United Kingdom. The new factor funds are expected to begin trading in the first quarter of 2018.
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Source: Vanguard
Unknown traders gain influence in commodities markets
November 27, 2017--Growth of so-called 'other reportables' raises concerns on transparency
A mysterious group is exerting growing influence in commodities markets: the "other reportables".
The vague term is a catchall for speculative traders that are not money managers published in a weekly report by the US Commodity Futures Trading Commission...
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Source: AdvisorShares
Manulife Investments Launches Two New Multifactor ETFs
November 27, 2017--Manulife today announced two new Manulife Exchange Traded Funds (ETFs) have closed their initial offering of units and will begin trading on the Toronto Stock Exchange today.
Manulife Investments will offer two new multifactor ETFs sub-advised by Dimensional Fund Advisors Canada ULC.
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Source: Manulife Investments
