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Fidelity undercuts even Vanguard on index fund fees
July 3, 2016--Fidelity is slashing fees across its family of index mutual funds and exchange traded funds to keep competitive as investors continue to flock from active funds to lower-cost strategies.
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Source: FT.com
Notice of Calamos ETF Closure
July 1, 2016--Calamos Investments, a global investment firm, announced today that the Calamos Focus Growth ETF (the "Fund") will be closed effective August 1, 2016 and subsequently liquidated.
Calamos reviewed its product range to ensure it is meeting the requirements of clients in continuing to add value. Following careful consideration, the decision was made to close the Fund.
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Source: Calamos Investments(R)
SEC Investor Advocate Fleming targets fees charged by advisers
July 1, 2016--Rick Fleming will push the Securities and Exchange Commission to follow through on its review of how brokers and investment advisers disclose their fees to clients.
To SEC investor advocate Rick A. Fleming, improved disclosure of fees and expenses charged by financial advisers is a top priority in the new fiscal year, which begins in October. Mr. Fleming will push the Securities and Exchange Commission to follow through on its review of how brokers and investment advisers disclose their fees to clients.
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Source: investmentnews.com
Guggenheim launches first ETF providing equal weight access to S&P 100 Index
June 30, 2016--Strategic beta approach expands Guggenheim's innovative, industry-leading line of equal-weight ETFs
Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today announced the launch of Guggenheim S&P 100(R) Equal Weight ETF (NYSE Arca: OEW).
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Source: Exchange Traded Concepts, LLC
Wilshire Funds Management Assumes Portfolio Management of the AdvisorShares Wilshire Buyback ETF (TTFS)
June 30, 2016--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that Santa Monica, California-based Wilshire Associates will assume sub-advisor responsibilities of the AdvisorShares Wilshire Buyback ETF (NYSE Arca: TTFS) on Friday, July 1, 2016.
Josh Emanuel, CFA, chief investment officer and managing director of Wilshire Funds Management, Wilshire's global investment management business unit that advises on approximately $150 billion, will serve as lead portfolio manager of TTFS. The fund's total expense ratio will also decrease to 0.90%, a 10% reduction.
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Source: AdvisorShares
Horizons ETFs Announces Closure of Certain ETFs
June 29, 2016-Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating certain exchange traded funds ("ETFs") effective at the close of business on or about Friday, September 9, 2016 (the "Termination Date").
The classes of the ETFs being terminated (collectively, "Terminated ETFs") are as follows:
HUT, HUT.A-Horizons Cdn Equity Managed Risk ETF
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Source: Horizons
CBO-The 2016 Budget Outlook
June 29, 2016--In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office's estimates.
If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
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Source: Congressional Budget Office (CBO)
