Americas ETP News
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PIMCO to Close and Liquidate Two Exchange-Traded Funds
February 15, 2017--PIMCO Diversified Income Active ETF and PIMCO Global Advantage(R) Inflation-Linked Bond Active ETF are expected to liquidate in April
PIMCO, a leading global investment management firm, will close and liquidate two exchange-traded funds.
PIMCO regularly reviews its product range to ensure it is meeting the requirements of clients in continuing to add value. Following careful consideration the decision has been made to close the following funds: PIMCO Diversified Income Active ETF ("DI") and PIMCO Global Advantage(R) Inflation-Linked Bond Active ETF ("ILB").
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Source: Pimco
IMF Working paper-The Growth Return of Infrastructure in Latin America
February 14, 2017--This paper examines the effects of improvements in infrastrucutre on sectoral growth and firm-level investment, focusing on six Latin American countries.
Exploiting the heterogeneity in the quality of infrastructure across countries and the intrinsic variation in the dependence of sectors on infrastructure, I find that better infrastructure raises growth and investment. Improved infrastructure could yield large economic benefits. For example, if the quality of infrastructure in Colombia increased to the sample median (Czech Republic), GDP growth would increase by about 0.1 percentage points.
view the IMF Working paper-The Growth Return of Infrastructure in Latin America
Source: IMF
Morgan Stanley Settles Charges Related to ETF Investments
February 14, 2017--The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse ETF investments it recommended to advisory clients.
The SEC's order finds that Morgan Stanley did not adequately implement its policies and procedures to ensure that clients understood the risks involved with purchasing inverse ETFs. Among the order's findings, Morgan Stanley failed to obtain from several hundred clients a signed client disclosure notice, which stated that single inverse ETFs were typically unsuitable for investors planning to hold them longer than one trading session unless used as part of a trading or hedging strategy. Morgan Stanley solicited clients to purchase single inverse ETFs in retirement and other accounts, the securities were held long-term, and many of the clients experienced losses.
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Source: SEC.gov
Tortoise Launches Water Exchange Traded Fund (TBLU)
February 14, 2017--February 14, 2017--Tortoise Index Solutions, part of the Tortoise family, today announced the launch of the Tortoise Water Fund (TBLU).
TBLU is an ETF designed to track the total return of the Tortoise Water IndexSM, which is comprised of companies that are substantially engaged in the water infrastructure and water management industries.
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Source: Tortoise Index Solutions
AdvisorShares Active ETF Report: This Week in Active ETFs: What Should You Do in a Low VIX World?
February 13, 2017--Political Volatility? Equities Still Don't Care
Macro
Regardless of anyone's conservative or liberal beliefs, there has been a lot of political volatility since the
inauguration but domestic equities continue to chug along with close to record low volatility as evidenced by the low VIX reading and the lack of 1% daily moves in this calendar
year.
There are technical indicators related to investor bullishness and market breadth that look terrible but for
now the market shows no signs of rolling over.
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Source: AdvisorShares
DB Research-North America-United States Synthetic Equity & Index Strategy-US ETF Insights
February 13, 2017--An alternative look at ETF growth andGoogle Trends
As US ETFs turn 24 years old, growth continues to impress
At the end of 2016, there were 1,715 ETFs listed in US exchanges, with $2.5 trillion in assets, and over $18 trillion exchanging hands in ETF trading and $273bn in new assets during last year. In addition, US ETFs have experienced the fastest relative growth with stronger inflows compared to US Mutual Funds and Index
Funds.
Moreover, Global ETF assets at $3.5 trillion have by far surpassed Global
Hedge Fund assets at $3.0 trillion. And there are almost as many millions of
internet users as there are billions of Global ETF assets.
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Source: Deutsche Bank Research-North America United States-Synthetic Equity & Index Strategy
US IPO Week Ahead: The calm before the Snap, with no IPOs scheduled this week
February 10, 2017--The IPO calendar is empty this week. And with President's Day coming up, don't expect the following week to be busy, either. Don't panic: This two-week lull in February is an annual occurrence, driven by both the holiday and companies preparing their full 2016 numbers.
The number of new filings in 2017 more than doubled as six companies joined the IPO pipeline this past week; we estimate they could raise a combined $2.2 billion.
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Source: Renaissance Capital
CFTC.gov Commitments of Traders Reports Update
February 10, 2017--The current reports for the week of February 7, 2017 are now available.
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Source: CFTC.gov
Indxx LLC Launches the Indxx REIT Preferred Stock Index, Licensed to Infrastructure Capital for Exchange Traded Fund
February 8, 2017--Indxx LLC is pleased to announce the launch of the Indxx REIT Preferred Stock Index (the "Index").
The Index has been licensed to New York-based ETF provider Infrastructure Capital Advisors as the underlying benchmark for the InfraCap REIT Preferred ETF (NYSE: PFFR), which began trading today.
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Source: Indxx
CFTC.gov Swaps Report Update
February 8, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
