Americas ETP News
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Research Affiliates-Ignoring Starting Yields-Nabbing This "Usual Suspect" in Poor Investment Outcomes
September 26, 2017--Key Points
Using historical returns to forecast the future is one of the most common shortcuts in financial planning.
Investment advisors who use only past returns to forecast future returns may well be creating unrealistic expectations and poor investment outcomes for their clients.
Our online Asset Allocation Interactive, which uses starting yields to forecast future long-term returns, gives advisors a rich toolkit with which to construct portfolios most likely to achieve their clients' financial goals.
Starting conditions matter. Today's investment yields impact future realized returns. But many still rely on past returns to estimate future returns. Our online Asset Allocation Interactive tool gives you the information you need to look ahead, not just back.
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Source: Research Affiliates
CBOE Holdings Launches S&P 500 Dividend Aristocrats Target Income Index
September 26, 2017--Index targets annual income of 3.5 percent over the annual dividend yield of the S&P 500 Index
Index made up of stock constituents of the S&P 500 Dividend Aristocrats Index that have increased dividends
annually for at least 25 consecutive years
Index methodology includes partial overwriting of Weekly call options to generate the targeted level of income while striving for price appreciation
CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE) today announced it has launched the CBOE S&P 500 Dividend Aristocrats Target Income Index (SPAI), a benchmark index designed to track the hypothetical performance of a partial buy-write strategy applied to stocks contained in the widely utilized S&P 500 Dividend Aristocrats Index, to target a specific level of total income.
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Source: CBOE
BetaShares-Shifting currency currents: the case for $US strength and $A weakness
September 26, 2017--The re-affirmed prospect of higher US interest rates-and renewed talk of tax cuts-suggests the year-long slide in the $US may be finally coming to an end.
While a firmer $US would in itself also tend to weaken the $A (at least against the greenback), weaker iron-ore prices and a steady RBA are further negatives for the $A.
The case for a bottom in the $US
As seen in the chart, the $US has trended down for much of 2017 so far, after a strong rally in the second half of 2016.
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Source: betashares.com.au
USCF Announces Collaboration On Two New Private Equity Strategy Index Funds With SummerHaven Index Management (Tickers: BUY, BUYN)
September 26, 2017--USCF today announced it has filed a registration statement for two exchange traded funds
(ETFs) each of which will
seek to track a newly launched
index: the USCF SummerHaven Private Equity Strategy Index Fund (NYSE
Arca: BUY) and the USCF SummerHaven Private Equity Natural Resources
Strategy Index Fund (NYSE Arca: BUYN).
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Source: USCF
Toroso Strong week for the ETF Industry!
September 26, 2017--Strong week for the ETF Industry!
It was a strong week for the ETF industry lead by ETF Sponsor Charles Schwab, Service providers Hancock Holdings, Envestnet and SEI Investments, as well as Research & Data Provider Facset Research Systems.
We look forward to releasing updated index holdings in next week's update!
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Source: Toroso Investments
CFTC's Division of Market Oversight Extends Existing Relief and Provides Additional Relief for Reporting Parties from Reporting Obligations as Required by the OCR Final Rule
September 25, 2017--The U.S. Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) today issued a no-action letter (CFTC Staff Letter 17-45) that extends current relief and provides additional relief to reporting parties from reporting obligations as required by the ownership and control reports (OCR) final rule (OCR Final Rule).
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Source: CFTC.gov
CFTC looks to blockchain to transform how it monitors markets
September 25, 2017--Agency now struggling to manage data would be able to see firms' trading activities in real time-but plan would have to survive procurement process.
The Trump administration has promised to modernize the federal government's operations, aiming to run it more like a Silicon Valley technology giant.
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Source: Wall Street Journal
This Week in Active ETFs: Balance Sheet Reduction By Paper Cut
September 25, 2017--AdvisorShares Weekly Market Review-Week Ending 9/22/2017
Highlights of the Prior Week
Macro
The FOMC announced what the investment world already knew; it will start to reduce its greater than $4 trillion balance sheet, starting with $10 billion at a time.
Doing the math, it will take years before balance sheet is anywhere close to pre-crisis levels, which probably means it will never happen. Chair Yellen made it abundantly clear that the FOMC will step up in the face of an economic downturn and while the current expansion could last five or six more years, history is not on the side of that hope. Surprisingly, the committee also kept alive and well the expectation of another rate hike this year and the CME's Fedwatch Tool responded accordingly moving up to about a 70% chance of that December hike.
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Source: AdvisorShares
Thompson Hine-Advisers Must Offer Investors the Lowest-Fee Share Class Available
Investment Management Update
September 25, 2017--Key Notes:
Registered investment advisers have an affirmative duty to inform investors of the share classes with the lowest fees that those investors are eligible to own.
An adviser's written compliance procedures and policies must address how an adviser selects mutual funds to offer its clients, with a robust explanation of the distinctions between those funds' share classes.
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Source: ThompsonHine.com
Meet Wall Street's New King Makers: the ETF Strategists
September 24, 2017--Centrally managed portfolios have a big impact on how money moves in the ETF market.
The morning after Donald Trump's surprise victory in November, BlackRock Inc. quickly sold millions of dollars of shares in an emerging-markets exchange-traded fund, sales that rippled through thousands of client accounts totaling about $1 billion.
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Source: Wall Street Journal
