Americas ETP News
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Asset managers 'not as risky' as banks
May 25, 2014--Asset management companies threatened by regulators with costly capital and liquidity requirements have adopted a common line of defence: do not tar us with the same brush as the banks.
During a conference held on May 19 in Washington to explore whether asset managers may contribute to systemic risk, fund companies emphasised the differences between them and a banking sector that relies on state guarantees.
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Source: FT.com
NYSE Arca-1 ETF Launch: Direxion
May 23, 2014--NYSE Euronext is pleased to announce that on Wednesday, May 28, 2014, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: Direxion Daily S&P 500(R)Bull 2X Shares
Short Name:DX DLY SP BULL 2X
CUSIP: 25459Y 25 6
Trading Symbol: SPUU
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Source: NYSE Arca
BlackRock(R) Canada Publishes Latest Edition of the iShares(R) Connect Guide to Firms Offering Investable Portfolios Using ETFs
MAy 22, 2014--BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect, wholly-owned subsidiary of BlackRock, Inc., today announced the publication of the latest updated edition of "iShares Connect: Canada Guide to ETF Investment Strategists". As the number of exchange traded fund (ETF) strategists and strategies in Canada has grown rapidly in recent months, so has the Canadian iShares Connect guide.
The latest edition features two new fund managers, representing an additional $600 million in ETF assets under management, for a total of 18 managers with a combined $4.6 billion in ETF assets as of March 31, 2014. The updated guide has added eight new ETF-based strategies in the most recent version, bringing the total number to 39.
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Source: BlackRock
ISE Launches Do Not Trade Through Functionality for Multi-Legged Orders
May 22, 2014--ISE announced today the launch of Do Not Trade Through (DNTT) functionality, a new price protection for multi-legged orders. Orders marked as DNTT will only trade at or better than the National Best Bid or Offer (NBBO) on each leg of the multi-legged order, including option and stock legs.
DNTT orders do not trade through away market prices on any leg. ISE is the only exchange to offer this protection for both incoming and resting multi-legged orders.
Boris Ilyevsky, Managing Director, said, "ISE continues to set the industry standard in multi-legged orders, and the launch of the DNTT feature is another step in providing our members with the best trading functionality and execution quality. With the introduction of DNTT and future enhancements in our pipeline, our goal is to ensure that ISE will continue to remain a leading routing destination for multi-legged orders."
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Source: ISE Holdings
New Endowment Index Launched to Provide Independent Benchmark for Fiduciaries
Endowment Index(TM) now available as a benchmarking tool for investors that manage multi-asset portfolios comprised of both traditional (stocks and bonds) and alternative (private equity, real assets, hedge funds) asset classes.
May 22, 20143--Endowment Wealth Management,Inc. in collaboration with ETF Model Solutions,LLC have launched the Endowment Index(TM) (Symbol: ENDOW) as a benchmarking tool for investors in globally-diversified,multi-asset portfolios that include alternative investments.
The Endowment Index,calculated by Nasdaq OMX(R) is an objective benchmark comprised of three major asset class building blocks: Global Equity,Global Fixed Income,and Alternatives which includes hedge funds,private equity and real assets.
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Source: Endowment Wealth Management, Inc.
Minutes Of The Federal Open Market Committee, April 29-30, 2014
May 21, 2014--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 29-30, 2014.
view the Minutes Of The Federal Open Market Committee, April 29-30, 2014
Source: Federal Reserve Board
Dubai market bounces back
May 21, 2014--Ending a five-day losing streak, the Dubai Financial Market General Index climbed by 4.18 per cent on Wednesday, May 21.
Tailwinds from Europe (where Italian and Spanish government bonds gained) and East Asian markets, where indices stabilised, helped the gauge to regain territory. Islamic insurance provider Dar Takaful gained the most, closing 11.66 per cent...
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Source: AME Info
NYSE Arca-1 ETF Launch: Deutsche Bank
May 21, 2014--NYSE Euronext is pleased to announce that on Wednesday, May 21, 2014, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: db X-trackers Harvest CSI 500 China A-Shares Small Cap Fund
Short Name: DBX CN SM CAP Fund
CUSIP:233051 754
Trading Symbol: ASHS
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Source: NYSE Arca
Deutsche Asset & Wealth Management Launches the First U.S.-listed ETF to Provide Access to Small Cap China A-shares Equities with ASHS
May 21, 2014--Deutsche Asset & Wealth Management ("DeAWM") announced today the launch of the db X-trackers Harvest CSI 500 China A-Shares Small Cap Fund, the first U.S.-listed exchange-traded fund ("ETF") to provide investors with direct access to small cap China A-shares equities.
DeAWM has once again partnered with subadvisor Harvest Global Investments Limited to launch this new product, which features an expense ratio of 0.82%.
"Deutsche Asset & Wealth Management continues to break ground with its passive offerings, as evidenced by the latest ETF to provide access to a new and attractive segment of the Chinese equity market," said Jerry Miller, Head of DeAWM in the Americas. "We are committed to utilizing our unique global capabilities to anticipate and offer solutions that meet current and future investor demand....
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Source: Deutsche Asset & Wealth Management
DB-Synthetic Equity & Index Strategy-North America-US ETF Market Weekly Review- Equity ETPs led weekly inflows with $5.7bn in new cash
May 21, 2014--Data in this report is as of Friday, May 16
Market and Net Cash Flows Review
The US (S&P 500; -0.03%) ended almost flat for the week; while, outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) rose by 0.31% and 2.52%, respectively. In the meantime, performance was mixed across US sectors; the Technology (+0.86%) and Healthcare (+0.54%) sectors recorded the largest weekly gains; meanwhile, the Financials (-0.85%) and the Utilities (-0.56%) were the worst performing sectors.
The DB Liquid Commodity Index rose by 0.55%; in the meantime, the Agriculture sector (DB Diversified Agriculture Index) fell by 0.57%, while the WTI Crude Oil, Gold and Silver prices rose by 2.03%, 0.36% and 1.10%, respectively. Moving into other asset classes, the 10Y US Treasury Yield dropped by 10 bps ending at 2.52%. Last but not least, Volatility (VIX) dropped by 3.72% during the same period.
The total US ETP flows from all products registered $6.5bn (+0.4% of AUM) of inflows during last week vs. $1.4bn (-0.1%) of outflows the previous week, setting the YTD weekly flows average at +$1.8bn (+$35.1bn YTD in total cash flows).
Equity, Fixed Income and Commodity ETPs experienced flows of +$5.6bn (+0.4%), +$0.8bn (+0.3%) and -$35mn (-0.1%) last week vs. -$2.8bn (-0.2%), +$1.3bn (+0.5%) and +$0.1bn (+0.1%) in the previous week, respectively.
Among US sectors, Energy (+$0.6bn, +1.7%) and Utilities (+$0.3bn, +4.0%) received the top inflows, while Healthcare (-$0.2bn, -0.7%) and Consumer Discretionary (-$0.1bn, -1.2%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: IWM (+$1.4bn), SPY (+$0.5bn), XLE (+$0.5bn)
Top 3 ETPs & ETNs by outflows: IVW (-$0.3bn), XLF (-$0.2bn), MDY (-$0.2bn)
New Launch Calendar: Municipals
There was one new ETF listed during last week. The new product offer exposure to Municipals.
Turnover Review: Floor activity increased by 8.4%
Total weekly turnover increased by 8.4% to $294.1bn vs. $271.4bn from the previous week; furthermore, last week's turnover level was 2.7% over last year's weekly average. Equity ETPs turnover increased by $25.9bn (+10.5%); while Fixed Income and Commodity ETPs turnover decreased by $2.4bn (-13.1%) and $0.6bn (-10.3%), respectively.
Assets under Management (AUM) Review: Assets increased by $11.2bn
US ETP assets rose by $11.2bn (+0.6%) totaling $1.741 trillion at the end of the week. As of last Friday, US ETPs had accumulated an asset growth of 3.7% YTD. Assets for Equity, Fixed Income and Commodity ETPs moved +$9.4bn, +$1.6bn and +$0.1bn during last week, respectively.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-North America
