Americas ETP News
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Fed's massive bond portfolio has market participants anxious
May 26, 2015--Asset managers are concerned about how the Federal Reserve will dispose of $4 trillion in bonds
it has accumulated through quantitative easing.
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Source: SmartBrief
Blackrock Now #79 Largest Company, Surpassing Lockheed Martin
May 26, 2015--In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Blackrock Incorporated (NYSE: BLK) has taken over the #79 spot from Lockheed Martin Corp. (NYSE: LMT), according to The Online Investor.
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Source: Forbes
Deutsche Bank fined for misstating value of derivatives
May 26, 2015--The Securities and Exchange Commission said on Tuesday that Deutsche Bank made material misstatements about a giant derivatives portfolio, inflating its value at the height of the financial crisis*
The bank failed to account for a "material risk for potential losses estimated to be in the billions of dollars", the SEC said.
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Source: FT.com
Brazil economy to contract nearly one-quarter this year in dollar terms
May 25, 2015--Brazil's economy is expected to contract by nearly one-quarter this year in dollar terms due to a depreciating currency and a deepening recession, according to government figures.
Brazil's planning ministry revealed in a budget presentation that gross domestic product was expected to be $1,812bn this year, down 23 per cent from $2,353bn a year earlier, as President Dilma Rousseff tries to unwind a multiyear stimulus programme that has left government finances bleeding red.
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Source: FT.com
TOTL Hits $500 Million in AUM
May 25, 2015--Long-term bond investment had an impressive 2014 to the supremacy of risk-off trade sentiments in the wake of global growth concerns.
On the other hand, short-term bonds gave a rather tepid show last year on speculations that the Fed would hike interest rates soon.
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Source: NASDAQ.com
First Asset Canadian REIT Income Fund Announces Meeting to Approve Conversion to ETF
May 25, 2015--First Asset Canadian REIT Income Fund (the "Fund") (TSX: RIT.UN) announces that a special meeting of unitholders will be held on Friday, June 19, 2015.
If required, an adjourned meeting will be held on Tuesday, June 30, 2015.
At the meeting, unitholders will be asked to approve the conversion of the Fund from a closed-end fund to an exchange traded fund, including changes to the Fund's investment objectives, strategies and restrictions and certain other provisions contained in the Fund's declaration of trust related to the conversion.
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Source: First Asset
BMO Asset Management Inc. Announces an Index Change to BMO Emerging Markets Bond Hedged to CAD Index ETF
May 25, 2015--BMO Asset Management Inc. (BMO AM) today announced a change (ZEF Index Change) to the underlying index of BMO Emerging Markets Bond Hedged to CAD Index ETF (ZEF).
The investment objective of ZEF is to seek to replicate, to the extent possible, the performance of an emerging markets bond index, net of expenses. Currently, ZEF seeks to replicate the performance of the Barclays Emerging Markets Tradable USD Sovereign Bond Index CAD Hedged.
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Source: Streetinsider.com
Irish woman joins top tier at BNY Mellon in US
May 24, 2015-BNY Mellon Ireland executive Ann Fogarty (49) has been selected to lead a new division which the investment bank is setting up in the US, responsible for 3,000 people.
She becomes the most senior Irish woman at the company, which has 50,000 employees worldwide.
Fogarty's will become the head of the company's newly created global fund accounting and administration organisation.
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Source: BNY Mellon
Active stock fund managers load up on ETFs, scrimp on cash
May 22, 2015--If you can't beat them, buy them.
That's the theory underlying a move by a growing number of mutual fund managers at companies including T. Rowe Price and Eaton Vance to slip shares of indexed exchange traded funds into their actively managed fund portfolios.
Over the last five years-a period in which active fund managers have both underperformed and lost market share to ETFs-the number of actively-managed equity funds that hold ETFs in their top-10 holdings has jumped 174 percent, to a total of 148, according to Lipper data.
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Source: Reuters
Fixed-income ETFs find a place in advisors’ arsenal
May 22, 2015--New survey results suggest wealth managers of all types are turning to bond ETFs to quickly fill holes in their client portfolios.
"In the wake of the financial crisis, with bond issuance down and many fixed income trading partners pulling back from the markets, many institutions have found it difficult to execute trades and manage appropriate allocations in fixed income," commented Matt Tucker, Head of iShares Fixed Income Strategy for the Americas...
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Source: wealthprofessional.ca
