Americas ETP News
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PowerShares Canada to increase NAV on three ETFs
January 13, 2016--PowerShares Canada announced today that it will increase the net asset value (NAV) of three TSX-listed PowerShares exchange-traded funds (the "ETFs"), calculated after close of business on January 14, 2016.
PowerShares Fundamental High Yield Corporate Bond (CAD Hedged) Index ETF (PFH) and PowerShares Senior Loan (CAD Hedged) Index ETF (BKL) invest in one or more U.S. Regulated Investment Companies (RICs) that earn and distribute qualified interest-related dividends.
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Source: Invesco Canada Ltd.
ETFs/ETPs listed in the United States gathered 239.8 billion US dollars in net new assets in 2015, according to ETFGI
January 13, 2016--ETFs/ETPs listed in the United States gathered US$239.8 billion in net new assets in 2015 although it is a large amount it is less than the record US$244.3 billion gathered in 2014.
In December US$38.0 billion of net new assets were gathered making it the largest asset gathering month for the year and marking the 11th consecutive month of positive net inflows.
During 2015 there has been growth on most measures: the number of ETFs/ETPs has increased from 1,662 to 1,843, assets under management have increased from US$2.002 trillion to US$2.130 trillion, and the number of providers has increased from 71 to 94.
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Source: ETFGI
Van Eck Launches Market Vectors(R) Generic Drugs ETF (GNRX)
January 13, 2016--Van Eck Global has launched the Market Vectors Generic Drugs ETF (NASDAQ: GNRX), the first and only Exchange-Traded Fund (ETF) to target global manufacturers of generic drugs and biosimilars, similar copies of existing but difficult to replicate biological drugs.
"With rising health care costs, drug manufacturing innovation, and public support for less expensive options to brand name drugs, this is a compelling ETF," said Edward Lopez, Marketing Director with Van Eck.
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Source:Van Eck Global
ETF providers hit out at cash-return rule proposals
January 13, 2016--Exchange-traded fund providers have criticised proposed regulations designed to ensure they can return money quickly to investors during periods of market volatility, arguing that they show a fundamental misunderstanding of how the products work.
The public comment period on the Securities Exchange Commission's proposed liquidity requirements for open-end funds-including mutual funds and ETFs-closed on Wednesday.
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Source: FT.com
First ETF tracking Hang Seng Indexes debuts on Toronto Stock Exchange
January 13, 2016--Hang Seng Indexes Company Limited (Hang Seng Indexes) has licensed the Hang Seng High Dividend Yield Index to Horizons ETFs Management (Canada) Inc (Horizons) to serve as the underlying index for the creation of an ETF, which listed on the Toronto Stock Exchange yesterday (January 12).
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Source: asiaasset.com
Credit Suisse AG Announces the Acceleration of its CSCB ETNs
January 12, 2016--Credit Suisse AG announced today that it will accelerate at its option its Credit Suisse X-Links Commodity Benchmark Exchange Traded Notes (ETNs) due June 15, 2033 ("CSCB'). The acceleration date is expected to be January 28, 2016.
Credit Suisse AG expects to deliver a notice of optional acceleration with respect to the acceleration of CSCB to The Depository Trust Company on or about January 14, 2016.
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Source: Credit Suisse AG
United States Commodity Funds Lowers Management Fees on 3 ETPs
January 11, 20166--United States Commodity Funds (USCF) announced that effective today, the management fees of three of its exchange-traded products will be permanently lowered.
In May of 2014, the company issued a contractual fee waiver through December 31, 2015 and at this time believes that permanently reducing the funds management fees will demonstrate that these funds were designed with the buy-and-hold investor in mind.
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Source: United States Commodity Funds
SEC Announces 2016 Examination Priorities
New Areas of Focus Include Liquidity Controls, Public Pension Advisers, Product Promotion, Exchange-Traded Funds and Variable Annuities
January 11, 2016--The Securities and Exchange Commission today announced its Office of Compliance Inspections and Examinations'(OCIE) 2016 priorities.
New areas of focus include liquidity controls, public pension advisers, product promotion, and two popular investment products-exchange-traded funds and variable annuities. The priorities also reflect a continuing focus on protecting investors in ongoing risk areas such as cybersecurity, microcap fraud, fee selection, and reverse churning.
view the SEC EXAMINATION PRIORITIES FOR 2016
Source: SEC.gov
Fed Eyes Margin Rules to Bolster Oversight
January 10, 2016--Rules limiting what portion of stocks or bonds can be purchased through borrowing are moving up the Fed's to-do list.
The Federal Reserve is dusting off a legal power it has largely ignored for four decades, a move that could significantly expand the Fed's influence over financial markets.
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Source: Wall Street Journal
CBO-Monthly Budget Review for December 2015
January 8, 2016--The federal budget deficit was $212 billion for the first three months of fiscal year 2016, CBO estimates.
The federal budget deficit was $212 billion for the first three months of fiscal year 2016, the Congressional Budget Office estimates. That deficit was $36 billion larger than the one recorded during the same period last year. Receipts and outlays were both higher than last year's amounts, by 4 percent and 7 percent, respectively. If not for shifts in the timing of certain payments (which otherwise would have fallen on a weekend or on New Year's Day), the deficit for the three--month period would have been $9 billion larger than it was last year.
Total Receipts: Up by 4 Percent in the First Three Months of Fiscal Year 2016.
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Source:Source: Congressional Budget Office (CBO)
