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Record Days for VIX Futures and Options Volume and Open Interest This Month
August 25, 2017--Despite the fact that the average daily closing value of the CBOE Volatility Index®(VIX®)is about 11.5 so far this year, VIX futures and options both had record days for volume and for open interest this month.
OPEN INTEREST RECORDS. VIX futures hit a new record for open interest with more than 673,000 contracts on August 7, and VIX options reached a new record for open interest with 14,783,380 contracts open on August 15.
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Source: CBOE
ETF Managers Group Announces Closure of IMED ETF
August 25, 2017--ETF Managers Group LLC ("ETFMG") today announced that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG ETFx HealthTech ETF (IMED) based on an ongoing review of market demand.
Effective immediately, IMED will increase its cash holdings in contemplation of liquidation and will no longer accept creation orders.
Trading will be suspended on NASDAQ at the closing of the market on September 06, 2017.
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Source: ETF Managers Group (ETFMG)
NexC Partners Corp. Announces Proposal to Convert NEXC Into an Open-End Fund
August 25, 2017--NexC Partners Corp. (the "NEXC") (TSX:NXC) is pleased to announce that its board of directors has approved a proposal to convert NEXC into an open-end fund with ETF shares and mutual fund shares.
The conversion will be achieved by merging NEXC into Purpose Enhanced Dividend Fund (the "PDIV"), a newly established investment fund with substantially similar investment objectives and strategies as NEXC that will be managed by Purpose Investments Inc. ("Purpose"), with the PDIV being the continuing fund (the "Proposal").
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Source: Purpose Investments Inc.; NexC Partners Corp.
NEW: First Asset MSCI International Low Risk Weighted ETF
August 25, 2017--First Asset Investment Management Inc. ("First Asset") is pleased to announce that First Asset MSCI International Low Risk Weighted ETF (the "ETF") has closed the initial offering of its units and the units will commence trading today on the Toronto Stock Exchange ("TSX") under the ticker symbols RWX and RWX.B.
RWX are Canadian dollar hedged units and RWX.B are unhedged units.
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Source: First Asset
Redwood Asset Management Announces First Ever ETF Exchange Offer for the Redwood Canadian Preferred Share Fund
August 24, 2017--Redwood Asset Management Inc. ("Redwood") is pleased to offer an exchange offering for the ETF units of the Redwood Canadian Preferred Share Fund (the "ETF", or "the Fund"). Investors have until September 15, 2017 to tender their preferred shares and other accepted securities in exchange for units of the Fund.
he offering, which closes on September 22, 2017, is the first of its kind in Canada, and is another example in Redwood’s focus on delivering innovative solutions to Canadian investors. The Fund trades under the ticker symbol RPS on the NEO Exchange.
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Source: Redwood Asset Management Inc
First Trust Launches the First Trust Institutional Preferred Securities and Income ETF
August 24, 2017--First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced that it has launched a new actively managed ETF, the First Trust Institutional Preferred Securities and Income ETF (NYSE Arca: FPEI) (the "fund").
The fund seeks total return and current income by investing at least 80% of its assets in institutional preferred securities and income-producing debt securities. The fund is sub-advised by Stonebridge Advisors LLC ("Stonebridge" or "sub-advisor").
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Source: First Trust
Fee Rate Advisory #1 for Fiscal Year 2018
August 24, 2017--The Securities and Exchange Commission today announced that in fiscal year 2018 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $124.50 per million dollars.
The securities laws require the Commission to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e) and 14(g) of the Securities Exchange Act of 1934. The Commission must set rates for the fees paid under Section 6(b) to levels that the Commission projects will generate collections equal to annual statutory target amounts.
view more Canadian securities regulators outline securities law requirements that may apply to cryptocurrency offerings view more Advisors Sticking With Active Investments: Practical Perspectives view more
This marked the fifth straight week of overall positive flows during which time funds saw their coffers grow almost $94 billion. Money market funds were responsible for the lion's share of the net inflows this past week (+$24.6 billion) as well as for the five-week period (+$97.2 billion). Taxable bond funds (+$643 million) were the only other fund macro-group taking in net new money this past week; equity funds and municipal bond funds experienced net outflows of $3.4 billion and $636 million, respectively.
Source: Thomson Reuters Lipper
August 24, 2017--The Canadian Securities Administrators (CSA) today published CSA Staff Notice 46-307 Cryptocurrency Offerings, which outlines how securities law requirements may apply to initial coin offerings (ICOs), initial token offerings (ITOs), cryptocurrency investment funds and the cryptocurrency exchanges trading these products.
The notice describes the factors CSA staff consider in assessing whether prospectus, registration and marketplace requirements apply. It also outlines how the CSA Regulatory Sandbox can help fintech businesses contemplating such offerings and summarizes key issues that businesses should be prepared to discuss with CSA staff.
Source: Canadian Securities Administrators (CSA)
August 23, 2017--Despite increased flows to passively managed solutions, most financial advisors continue to rely on actively managed solutions, including mutual funds and separately managed accounts, according to a new research report by Practical Perspectives.
Most advisors have not changed their overall use of actively managed solutions in the past 12 months
Source: thinkadvisor.com
