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Merk Insight: Tax Reform- Implications for Gold
October 4, 2017--Last week, I got several calls asking me how U.S. tax reform will impact the price of gold. If you can answer this question, you might be able to answer how tax reform will impact other assets. Let me explain.
If you were to analyze the impact of any tax changes on any asset, you have two sets of dynamics to consider: those of the tax reform and those of the asset. What makes the comparison to gold unique is that gold is, if I may call it such, the purest of all assets because it doesn't change. It is the world around it that changes.
Monetary policy affects nominal prices, whereas fiscal policy affects real prices. That is, printing money might affect the price level, but fiscal policy affects where money gets allocated, and what investments take place.
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Source: Merk Investments
CFTC.gov Swaps Report Update
October 4, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
TrimTabs Announces Impressive Performance of TTAC On One Year Anniversary
October 4, 2017--Fund posts 24.81% gains since inception, outperforms benchmark by 577 bps
TrimTabs Asset Management (TTAM), a New York City-based investment manager focused on free cash flow-centric strategies, today announced impressive performance numbers for its flagship fund TTAC, the TrimTabs Float Shrink ETF, on the first anniversary of its launch.
Since inception, the fund has notched 24.81% gains, while outperforming its benchmark, the Russell 3000 Index, by 577 basis points, or 5.77%.
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Source: TrimTabs
Confluence Appoints Todd Moyer to Chief Operating Officer Role Accountable for Operational Excellence and Revenue Growth
October 3, 2017--Moyer to Lead Market Strategy, Business Development and Operational Readiness
Confluence, the global leader in asset management back-office data consolidation and automation, today announced that Todd Moyer has been promoted to Chief Operating Officer, a strategic role focused on ensuring operational excellence, optimizing revenue generation across North America and Europe and evaluating growth potential in adjacent geographic markets globally.
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Source: Confluence
Cougar Global Investments Appoints Abdullah "Abe" Sheikh Head Of Research
October 3, 2017--Cougar Global Investments, a globally-oriented solutions-focused asset manager and affiliate of Carillon Tower Advisers, is pleased to announce that Abdullah "Abe" Sheikh, FSA, MAAA, has joined the firm as head of research.
Sheikh will provide enhanced analytics and additional quantitative-research capabilities as part of the Cougar Global investment team.
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Source: Cougar Global Investments Ltd.
Ultumus-ETF DNA-US ETF Market Summary September 2017
October 3, 2017--September 2017 saw net inflows of US$ 28.6 Bn.
At the end of September 2017 there were 2,029 ETFs domiciled in the US with assets of $ 3,123 Bn from 81 product issuers and 124 index providers.
Assets increased by $71.5 Bn (or 2.3%) in September, with net inflows of $ 28.6 Bn.
iShares saw the largest net inflows for the month with $16.9 Bn, followed by Vanguard with $9.4 Bn and Schwab with $1.8 Bn, while State Street's SPDRs range experienced the largest net outflows of $2.2 Bn.
ETFs tracking FTSE Russell indices saw the largest net inflows for the month with $7.5 Bn, followed by Bloomberg based indices with $5.3 Bn and ICE with $3.5 Bn, while S&P Dow Jones based products experienced the largest net outflows of $1.5 Bn.
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Source: ULTUMUS-Financial Data Management
AdvisorShares Announces ETF Closures
October 3, 2017--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Gartman Gold/Euro ETF (NYSE Arca: GEUR) and the AdvisorShares Gartman Gold/Yen ETF (NYSE Arca: GYEN) will close. The AdvisorShares Board of Trustees approved the closings and subsequent liquidations of GEUR and GYEN.
The last day of trading for both funds will be October 13, 2017, which will also be the final day for creations or redemptions by authorized participants. The funds will cease operations, withdraw their assets, and distribute the remaining proceeds to shareholders on or after October 20, 2017.
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Source: AdvisorShares
Goldman Sachs to Explore Starting Bitcoin Trading Venture
October 2, 2017--Goldman Sachs Group Inc. is exploring how it could help clients trade bitcoin and other digital currencies, according to a person briefed on the plan.
The New York-based bank is in talks with cryptocurrency experts but hasn't yet formulated a business plan, a timetable for implementation or made any bitcoin-related investments, according to the person who asked not to be identified talking about internal deliberations.
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Source: Bloomberg
The Forum at ETF Research Center-October 2017 Sector SPDR Analyzer
October 2, 2017--The ETF Analyzer, Sector SPDR Edition for October 2017 is ready for download.
This monthly publication has succinct one-page reports on each of the 10 Select Sector SPDR ETFs in three easy-to-read sections: Investment Summary, Fundamentals, and Composition. It helps investors:
Evaluate the funds based on investment merit using fundamental data and analysis
Compare the Sector SPDRs with ease on a variety of forward-looking valuation metrics.
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Source: AltaVista Research
NuShares Further Expands Its Suite of ESG ETFs with Addition of U.S. Aggregate Bond Strategy
October 2, 2017--First ETF to Offer ESG-Focused Exposure to Broad, U.S. Investment Grade Bond Market
Access to Responsible Investment Expertise of Market Leader TIAA
Fund to Begin Trading Today on NYSE Arca
Nuveen has launched the NuShares ESG U.S. Aggregate Bond ETF (NUBD), a new exchange-traded fund (ETF) designed to offer exposure to the U.S. investment grade, taxable fixed income market while adhering to certain environmental, social and governance (ESG) principles.
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Source: Nuveen
