Americas ETP News
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J.P. Morgan Buys Minority Stake In ETF Provider Global X
Bank's asset-management unit currently runs seven ETF funds
April 14, 2016--J.P. Morgan Chase & Co. said Thursday it has taken a minority stake in a rival exchange-traded-fund provider, a move that could jump-start the bank's relatively small footprint in the industry.
Asset managers who have been late to the ETF boom are scrambling to boost growth in a highly competitive environment where fund providers are under pressure to slash fees to court investors.
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Source: Wall Street Journal
Bats Welcomes State Street Global Advisors to the Bats ETF Marketplace
Global ETF Leader Lists Two ETFs on Bats for First Time
April 14, 2016--Bats Global Markets (Bats), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), as a new issuer with the listing of the SPDR DoubleLine Emerging Markets Fixed Income ETF (Bats: EMTL) and the SPDR DoubleLine Short Duration Total Return Tactical ETF (Bats: STOT).
Both issues began trading today on the Bats ETF Marketplace.
The SPDR DoubleLine Short Duration Total Return Tactical ETF (STOT) seeks to maximize current income with a weighted average effective duration between one and three years.1 STOT is managed by Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, Philip Barach, DoubleLine president and Jeffrey Sherman.
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Source: Bats Global Markets, Inc.
The Nasdaq Stock Market(R)Leads US Listing Exchanges with 42 Percent of New ETP Listings and Switches in the First Quarter of 2016
April 14, 2016--Vanguard, PowerShares, First Trust, Principal, Victory Capital and Eaton Vance among ETF Issuers to Select Nasdaq as Primary Venue for New Listings in March
Nasdaq (Nasdaq:NDAQ), the single largest U.S. equity exchange by market share, announced nine new listings during the month of March, reinforcing itself as one of the premier listing and trading venues for exchange-traded products (ETPs). At the end of the first quarter of 2016, Nasdaq captured 42 percent of new listings and switches- exceeding all other US exchanges.
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Source: NASDAQ.com
Research Affiliates-Negative Rates Are Dangerous to Your Wealth
April 14, 2016--Key Points
1. Investors are wise to be concerned by zero and negative interest rate policies promulgated by central bankers, because starting yields predict future investment returns. Zero real interest rates predict zero real returns, and negative real interest rates predict negative real returns.
2. For long-term investors, risk is more about failing to meet wealth accumulation goals than about short-term changes in the price of their portfolios; thus, the more appropriate measure of risk is the estimated probability of reaching or failing to reach the desired or needed long-term real return level.
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Source: Research Affiliates
Van Eck(R) Merk®(R) Gold Trust Reaches $100 million in Assets
April 14, 2016--Van Eck Merk Gold Trust (NYSE Arca: OUNZ), launched in May,, 2014, has surpassed $100 million in assets under management.
"We increasingly see investors drawn to OUNZ not only for the simple ETF access it provides to gold, but also its unique feature that enables investors to take delivery of their gold," said Brandon Rakszawski, ETF Product Manager for Van Eck.
"We are thrilled that our partnership with VanEck has been embraced by investors," said Axel Merk, President of Merk Investments, the sponsor of OUNZ. "Investors tell us OUNZ is exactly what they are looking for-a deliverable gold ETF to diversify their portfolio."
FBR-Beige Book-Current Economic Conditions
April 13, 2016--Reports from the twelve Federal Reserve Districts suggest that national economic activity continued to expand in late February and March, though the pace of growth varied across Districts. Most Districts said that economic growth was in the modest to moderate range and that contacts expected growth would remain in that range going forward.
Consumer spending increased modestly in most Districts and reports on tourism were mostly positive. Labor market conditions continued to strengthen and business spending generally expanded across most Districts. Demand for nonfinancial services grew moderately overall. Manufacturing activity increased in most Districts. Construction and real estate activity also expanded. Credit conditions improved, on net, in most Districts. Low prices weighed on energy and mining output as well as prospects for agricultural producers. Overall, prices increased modestly across the majority of Districts, and input cost pressures continued to ease.
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Source: FBR
Regulator Joins Nasdaq Chief in Warning About Too Many Tests
April 12, 2016--SEC's Luparello cautions against running too many market tests
Nasdaq's Greifeld promotes simulations, not real-world pilots
Experiments testing changes to the plumbing of the U.S. stock market could clog it up instead, according to a regulator and exchange executive.
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Source: Bloomberg
AdvisorShares Active ETF Report: Sustained Growth
April 12, 2016--Assets in actively managed ETFs increased by $425 million, or 1.75%, to $24.706 billion. There was one fund closure last month, which takes the overall count down to 136.
Asset flows at the category level were more evenly dispersed with Alternative Income growing by $185 million and $183 million flowing into High Yield. The AdvisorShares WCM/BNY Mellon Focused Growth ADR ETF (NYSE Arca: AADR) and the AdvisorShares Newfleet Multi-Sector Income ETF (NYSE Arca: MINC) have both earned a five-star Morningstar rating.
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Source: AdvisorShares
Latin America Faces Policy Dilemmas Post Boom
April 12, 2016--Region's average growth to remain below zero in 2016
Mexico, Central American and Caribbean growing at 2.5%
Commodity exporters face difficult balance between short-term demands and long-term aspirations
As Latin America and the Caribbean enters its fifth year of economic slowdown and its second year of contraction due to an external environment particularly adverse to commodity exporters in South America, countries are struggling to find a balance between reducing spending and minimizing its effects on economic activity and hard-won social gains.
view the The Commodity Cycle in Latin America: Mirages and Dilemmas report
Source: World Bank
