Americas ETP News
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Research Affiliates-Timing "Smart Beta' Strategies? Of Course! Buy Low, Sell High!
October 1, 2016--Key Points
A contrarian timing approach-emphasizing factors or strategies trading cheap relative to their own historical norms, and deemphasizing the more expensive factors or strategies-can improve performance, but should be used in moderation to avoid increasing portfolio risk from a loss of diversification.
Contrarian timing is a form of value investing, but is not the same as doubling down on value risk. Relative valuation may support investing in the value factor when value is cheaply priced, and conversely, may indicate avoiding the value factor when it is expensive.
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Source: Research Affiliates
Fee Rate Advisory #2 for Fiscal Year 2017
September 30, 2016--When fiscal year 2017 starts on October 1, 2016, the Securities and Exchange Commission will be operating under a short-term continuing resolution, and thus will not have received a regular appropriation for FY 2017.
Accordingly, the fees paid under Section 31 of the Securities Exchange Act will remain at their current rate until 60 days after the date of enactment of a regular appropriation for the SEC.
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Source: SEC.gov
Rand continues puzzling decline
September 30, 2016--The rand has continued its "puzzling" decline against the dollar, trading 0.24% lower at R13.90 by 08:30 on Friday.
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Source: AllAfrica.com
Direxion Changes Indexes for Three ETFs
September 30, 3026--Direxion is changing the benchmark indices of two leveraged exchange-traded funds (ETF) and one leveraged inverse ETF.
The modifications will take effect on December 01, 2016.
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Source: Direxion
Renaissance Capital-US IPO Week Ahead: Seven deals slotted to raise $1 billion total
September 30, 2016--Analyst IPO Market Commentary
Coming off a strong end to the third quarter, October is set to get off to a quick start with seven deals on the calendar in the week ahead.
Among the deals, investors will undoubtedly be paying close attention to the next notable tech deal.
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Source: Renaissance Capital
CFTC Orders Aden Rusfeldt to Pay in Total More than $3.2 Million in Restitution and a Civil Monetary Penalty for Fraudulent Omissions in Connection with His Operation of ETF Trend Trading
September 29, 2016--Rusfeldt Failed to Disclose that He was Sued by the CFTC for Fraud in 2007 and Permanently Enjoined from Engaging in Any Commodity Interest Related Activity
The U.S. Commodity Futures Trading Commission (CFTC) today filed an Order instituting proceedings and settling charges against Respondent Aden Rusfeldt (a/k/a "Big A") of Vail, Arizona. The CFTC Order finds that Rusfeldt fraudulently failed to disclose to prospective and current customers of his company, ETF Trend Trading, that he was prohibited from engaging in any commodity-interest related activity under a prior Court Order.
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Source: CFTC.gov
First Trust Launches Canada's first U.S. Sector Rotation ETF
September 29, 2016--An index-tracking ETF based on Dorsey Wright's systematic momentum strategy with the ability to allocate to cash equivalents
FT Portfolios Canada Co. ("First Trust Canada"), a privately owned company is pleased to announce the launch of First Trust Dorsey Wright Dynamic U.S. Sector Rotation Index ETF (CAD-Hedged) (TSX: FSR).
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Source: First Trust
WisdomTree Bolsters Institutional Distribution Team To Capture Expanding Market Opportunity
September 29, 2016--WisdomTree Investments, Inc. (NASDAQ:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced the appointment of Christina Cryer as Head of U.S. Consultant Relations and Nate Miles as Head of U.S. Retirement Solutions.
These recent additions follow the hiring of industry veteran Joseph Grogan in March 2016 as WisdomTree Head of U.S. Institutional Distribution, responsible for extending and enhancing relationships with current and potential U.S. institutional investors.
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Source: WisdomTree
First Trust Expands Income Options with Active CEF-Based ETFs
September 29, 2016--First Trust has rolled out two new actively managed exchange traded funds that target closed-end funds focused on income generation.
First Trust recently launched the First Trust CEF Income Opportunity ETF (NasdaqGM: FCEF) and First Trust Municipal CEF Income Opportunity ETF (NasdaqGM: MCEF). FCEF has a 2.5% total expense ratio and MCEF has a 1.91% total expense ratio.
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Source: foxbusiness.com
IMF-Brazil: Staff Concluding Statement of the 2016 Article IV Mission
September 29, 2016--1. Brazil's deep recession has many roots. Policymaking in recent years has failed to tackle long-standing structural problems and proven to be counterproductive, contributing to the erosion of policy credibility and a large contraction of output.
The recession has been made worse by several other factors, including declining terms of trade, tight financing conditions, necessary but steep increases in electricity tariffs, a corruption scandal, and a political crisis, which has underpinned heightened uncertainty. The recession has taken a massive toll on employment and progress on reducing social inequalities has slowed. Despite a large output gap, inflation has exceeded the top end of the target band since 2015, as disinflation has proceeded slowly.
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Source: IMF
