Americas ETP News
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Ultumus-JP Morgan races headlong into smart beta
November 6, 2017--USA
JP Morgan races headlong into smart beta
Traditionally active money manager and finance powerhouse JP Morgan is racing into the quickly-crowding US smart beta space, listing five ETFs on NYSE Arca.
They are:
JPMorgan U.S. Dividend ETF JDIV
JPMorgan U.S. Minimum Volatility ETF JMIN
JPMorgan U.S. Momentum Factor ETF JMOM
..
Principal lists complex multifactor ETF on NASDAQ
Boston-based issuer Principal is listing a new multi-factor ETF on Nasdaq, the Principal International Multi-Factor Index ETF (PXUS).
PXUS will use a complex and multi-layered model to screen companies in the Nasdaq Developed Market Ex-US Ex-Korea Large Mid Cap Index. (Why Korea is excluded as well as the US I am not quite sure)....
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In order to ensure liquidity, companies in the lowest 10% by three-month average daily trading volume are excluded from selection.
Source: ULTUMUS-Financial Data Management
The emergence of a new kind of fund could 'radically alter' the investment industry
November 3, 2017-Passive investment has exploded in popularity, putting pressure on active managers who charge higher fees.
Variable pricing mutual funds are a way active managers can charge fees on a performance-driven basis, but they're not without their risks.
The popularity of low-fee exchange-traded funds has come at the expense of active managers, who now have no choice but to fight back. And to stay afloat, they're going to have to get creative.
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Source: Business Insider
CFTC.gov Commitments of Traders Reports Update
November 3, 2017--The current reports for the week of October 31, 2017 are now available.
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Source: CFTC.gov
Goldman Retreats From Options as Stock Derivatives Trading Struggles
November 3, 2017--An unusual calm in markets has choked the trades that typically move through banks' derivatives desks.
Waning stock volatility is pressuring the equity derivatives business, suppressing revenue and driving traders out of what was once a key Wall Street moneymaker.
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Source: Wall Street Journal
Renaissance Capital Scheduled U.S. IPOs-Week of 11/06/17
November 3, 2017--U.S. IPOs-Week of 11/06/17
IPO Commentary
Funko plummets 41% in biggest IPO drop since 2000
Pop culture figurine maker Funko (FNKO) fell 41% on Thursday to close at $7.07 in the worst first-day return for an IPO in 17 years.
The company priced a downsized IPO at $12 per share, below its range of...
US IPO Week Ahead: Bobbleheads, biotechs, software and more in a 9-IPO week
The IPO market's active fourth quarter continues with another busy week. As many as nine IPOs plan to raise $2.1 billion.view filing
Source: Renaissance Capital
Research Affiliates -Diversification without the Heartburn
November 3, 2017--The wisdom of diversifying investor portfolios across a wide range of asset classes is indisputable.
But diversifying client portfolios beyond mainstream stocks and bonds comes with challenges, starting with clients' unfamiliarity with diversifying asset classes and a propensity for clients to regret diversifying when results disappoint. Our Asset Allocation Interactive tool can help advisors strike a sensible balance between adopting diversification and client comfort, adding the needed spice to portfolios without tipping into untenable heartburn.
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Source: Research Affiliates
Invesco to Migrate PowerShares ETF from TSX to NEO
November 3, 2017--PowerShares Ultra Liquid Long Term Government Bond Index ETF (PGL) to Change Listing Venue
Aequitas NEO Exchange Inc. ("NEO Exchange" or "NEO") is pleased to announce that Invesco Canada Ltd. ("Invesco") has announced its intention to change the listing venue for the PowerShares Ultra Liquid Long Term Government Bond Index ETF (PGL) from the Toronto Stock Exchange (TSX) to NEO.
This is the first ETF migration for Invesco and the second time an ETF issuer will migrate ETFs from the TSX following the move of certain iShares by Blackrock ETFs to NEO earlier this year.
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Source: NEO Exchange
Cboe Global Markets Reports October 2017 Trading Volume
November 3, 2017--Futures ADV at Cboe Futures Exchange Up 14% from October 2016
Options ADV at Cboe Global Markets' Four Exchanges Up 17% from October 2016
Cboe Global Markets, Inc. (Cboe: CBOE | NASDAQ: CBOE), one of the world's largest exchange holding companies, today reported October monthly trading volume and average revenue per contract (RPC)/net revenue capture data at www.cboe.com/monthlyvolrpc.
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Source: Cboe Global Markets
Lipper-U.S. Fund-Flows Weekly Report: Funds See Coffers Shrink by Almost $18 Billion
November 3, 2017--Thomson Reuters Lipper's fund macro-groups (including both mutual funds and ETFs) suffered net-negative flows of $17.7 billion for the fund-flows week ended Wednesday, November 1.
Money market funds were responsible for the lion's share of the net outflows (-$21.3 billion), while municipal bond funds had $655 million leave their coffers. Equity funds (+$3.6 billion) and taxable bond funds (+$678 million) were the only fund macro-groups taking in net new money for the week. For taxable bond funds it was the seventeenth consecutive week of net-positive flows.
Market Overview
The S&P 500 Index (+0.87%) and the Dow Jones Industrial Average (+0.45%) both posted positive returns for the fund-flows trading week. The week's increases pushed the year-to-date return for the Dow and the S&P 500 to 18.58% and 15.21%
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Source: Thomson Reuters Lipper
Blog-Historic Volatility Recently Dropped Below 1.7 for Eight Cboe Benchmark Indexes
November 2, 2017--In times of geopolitical uncertainties, many investors are searching for investments with low volatility and higher yields.
Several news stories have noted that stock indexes recently had low volatility. On October 18 the 20-trading-day historic volatility for the S&P 500 (SPX) Index dropped to 3.4, its lowest level since 1969 (source: Bloomberg). There now is concern that with higher price-earnings ratios, the volatility of stock indexes could spike in coming months.
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Source: Matt Moran, CBOE
