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Lipper-U.S. Weekly FundFlows Insight Report: Money Market Funds Attract the Largest Net Flows for the Week
September 28, 2017--For the third week in four investors were net purchasers of fund assets (including those of conventional funds and ETFs), injecting $7.3 billion. Investors padded the coffers of money market funds (+$16.1 billion), taxable bond funds (+$452 million), and municipal bond funds (+$378 million) for the week, while they were net redeemers of equity funds (-$9.7 billion).
Investors remained cautious during the fund-flows week ended Wednesday, September 27, 2017, as the rhetoric by both the United States and North Korea intensified and as the Fed continued to telegraph its intent to hike interest rates one more time in 2017 and begin unwinding its $4.5-trillion balance sheet in October. Nonetheless, talk of near-term rate hikes and President Donald Trump’s sweeping tax overhaul pushed bank stocks and small-cap issues higher during the week.
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Source: Thomson Reuters Lipper
ClearShares LLC OCIO ETF (Ticker:NYSE OCIO) Reaches $100M in Assets Under Management("AUM")
September 28, 2017--ClearShares LLC, a Clearbrook Company, announced today that ClearShares OCIO ETF (NYSE:OCIO) has reached a milestone of $100M in AUM, as of September 27, 2017.
The ClearShares OCIO ETF (the "Fund"), which began trading on the NYSE on June 27, 2017, is an ETF of ETFs, offering access to an actively managed, diverse portfolio of passive index-based ETFs and actively managed ETFs.
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Source: Business Insider
Former SEC chief says regulator not equipped to take on bitcoin
September 28, 2017--Arthur Levitt, a former chairman of the U.S. Securities and Exchange Commission, said on Thursday he believed the regulator was ill equipped to deal with bitcoin, the digital currency that has seen a meteoric price rise, prompting concerns of a bubble.
"I think the tendency of the Commission has been to stay away from bitcoin,"Levitt said at The Economist's Finance Disrupted conference in New York.
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Source: Reuters
MSCI Launches New Factor ESG Target Indexes
September 28, 2017--Leader in the application of Factors with $214 billion benchmarked to MSCI Factor Indexes1
MSCI Inc. (NYSE:MSCI), a leading provider of research-based indexes and analytics announced today the launch of MSCI Factor ESG Target Indexes, designed to help clients leverage the power of MSCI Factor Indexes while integrating ESG (Environmental, Social and Governance) into their investment strategies.
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Source: msci.com
Ultumus-ESG Bonds
September 28, 2017--Nuveen goes for ESG bond fund, sort of
Nuveen has listed a new ESG bond ETF to add to its growing range of ESG funds, the ESG US Aggregate Bond ETF (NUBD).
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Source: ULTUMUS-Financial Data Management
Wells Fargo Gets Approval for Exchange Traded Index Funds
September 27, 2017--Wells Fargo & Co got initial approval to create exchange traded index funds (ETFs), according to a notice filed by the U.S. Securities and Exchange Commission on Wednesday.
The approval, recommended by the commission's staff, will go into effect unless the commission orders a hearing.
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Source: NY Times
Merk Insights-Ray Dalio's Principles: A Radically Truthful Review
September 27, 2017--Spending $26.95 to pick Ray Dalio's brain for over 16 hours listening to the audiobook appears fantastic value to me. The thought crossed my mind to offer Mr. Dalio a charity donation in his name if he gave me the opportunity to make it a two-way conversation over lunch.
But that wouldn't have been consistent with his (or my) Principles. Instead, I'm offering my radically truthful review for $0. The challenge for Mr. Dalio is whether reading this review will be time well spent. Ray, you do not know my 'believability'-and that is a key deficiency in your principles you might want to address, especially when applied to the next phase in your life. Let me expand.
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Source: Merk Investments
H.R. 910: Fair Access to Investment Research Act of 2017
September 27, 2017--H.R. 910 establishes a safe harbor that would allow broker-dealers to issue research reports that cover Exchange Traded Funds (ETFs), so that these reports are not considered "offers" under the securities law.
The research reports would need to meet certain requirements to be eligible for this safe harbor. Under current law, such reports would be considered an offering for sale...
view the full text of H.R. 910: Fair Access to Investment Research Act of 2017
Source: govtrack.us
CBO-Did Treasury Debt Markets Anticipate the Persistent Decline in Long-Term Interest Rates? Working Paper 2017-07
September 27, 2017--Private-sector forecasters consistently missed the decline in long-term nominal interest rates over the past three decades, estimating rates that were higher (and, in some cases, much higher) than what actually occurred. This analysis examines whether bond-market participants anticipated with greater accuracy the decline in long-term rates.
To explore that issue, CBO compared the accuracy and bias in forecasts of long-term interest rates from the Blue Chip consensus with forecasts based on information derived from the Treasury yield curve as well as several benchmark forecasts and combinations of forecasts. The results indicate that Treasury debt markets did not do a better job than the Blue Chip consensus in forecasting the decline in long-term interest rates over the past three decades
view the Did Treasury Debt Markets Anticipate the Persistent Decline in Long-Term Interest Rates? working paper
Source: Congressional Budget Office (CBO)
New Invesco ETF Launches on NEO
September 27, 2017--Invesco Canada Ltd. ("Invesco"), including PowerShares Canada Vice President of Product and Business Development, Christopher Doll, joined Erik Sloane, Head of Business Development, Funds at NEO, Aequitas NEO Exchange Inc. ("NEO Exchange"), to open the market in celebration of the new PowerShares 1-10 Year Laddered Investment Grade Corporate Bond Index exchange-traded-fund (ETF), represented by the ticker PIB, launching on the NEO Exchange.
PowerShares ETFs seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. The new PowerShares ETFs commenced trading on the NEO Exchange on September 12, 2017.
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Source: NEO Exchange
