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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
New York Fed Sees a Healthy Fear in the Volatility Curve
November 16, 2017--The same week they took on bears who warn low stock volatility is a recipe for high stock volatility, New York Federal Reserve staffers are back with a rebuttal for everyone who says the record-low VIX signals complacency.
Worry not, economists and analysts at the branch wrote in a follow-up blog post, the character of today's freakishly low volatility isn't the same as that which prevailed before the financial crisis.
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Source: Bloomberg
Intercontinental Exchange Launches Trading of NYSE FANG+TM Index Futures Contract; More than 2,000 Contracts Traded in First Week
November 16, 2017--Intercontinental Exchange (NYSE:ICE, a leading operator of global exchanges and clearing houses and provider of data and listings services, launched the NYSE FANG+TM Index futures contract on ICE Futures U.S.(R) on November 8, 2017. The new contract had over 2,000 contracts trade in the first week.
NYSE FANG+ Index futures were designed to offer hedging and exposure to a select group of highly-traded growth stocks of tech-enabled companies. The NYSE FANG+ Index contract is a cash settled quarterly futures contract based on the NYSE FANG+ Index, and offers the capital efficiency of futures.
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Source: Intercontinental Exchange
State Street shifts to home-grown indices for three US stock ETFs
November 16, 2017--State Street has dropped Russell indices and begun to compile its own baskets for three US-focused exchange-traded funds, underlining the race to cut costs and the backlash against fees charged by index providers in the burgeoning industry.
The Boston-based asset manager will move away from Russell's indices on three of its ETFs: the SPDR Russell 3,000, SPDR Russell 1,000 and SPDR Russell 2,000.
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Source: FT.com
Horizons US Enters into Strategic Partnership with Cadence Capital Management
November 16, 2017--Relationship will culminate in launch of actively managed products
Horizons ETFs Management (US) LLC ("Horizons US"), has partnered with Cadence Capital Management ("Cadence") to develop a series of actively managed, transparent ETFs.
Cadence, founded in 1988 and based in Boston, manages approximately $4.4 billion in assets and is a wholly owned subsidiary of Pacific Life Insurance Company.
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Source: Horizons ETFs Group
