Americas ETP News
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SEC Set to Alter Stance on Money Funds
'Retail' Funds Could Maintain Stable $1 Share Prices Instead of Floating in Value
March 25, 2014--U.S. securities regulators, under pressure from the asset-management industry, are preparing to exempt a majority of money-market mutual funds from a central plank of rules intended to curb risks in the $2.6 trillion market, according to people familiar with the agency's discussions.
The Securities and Exchange Commission, poised to implement structural changes to money funds in coming months, is expected to broaden an exemption for mom-and-pop retail investors from requirements that certain money funds abandon their signature $1 share price and float in value like other mutual funds, these people said.
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Source: Wall Street Journal
ETF giant BlackRock slashes fees on its core funds
March 25, 2014---Canada's largest exchange-traded fund provider, BlackRock Inc, is cutting management fees on a group of its investment products to cater to Canada's fee-conscious investors.
The "Core Series" of ETFs, offered through BlackRock's iShares brand, is made up of nine funds that cater to investors who want to buy and hold. These funds cover what iShares deems the "key asset classes" that many investors target to form the base of their portfolios- from Canadian equity and bond funds, to U.S.-focused funds, to international and emerging market offerings. Investors can diversify at a low cost.
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Source: Globe and Mail
ETF giant BlackRock slashes fees on its core funds
March 25, 2014--Canada's largest exchange-traded fund provider, BlackRock Inc., is cutting management fees on a group of its investment products to cater to Canada's fee-conscious investors.
The "Core Series" of ETFs, offered through BlackRock's iShares brand, is made up of nine funds that cater to investors who want to buy and hold. These funds cover what iShares deems the "key asset classes' that many investors target to form the base of their portfolios - from Canadian equity and bond funds, to U.S.-focused funds, to international and emerging market offerings. Investors can diversify at a low cost.
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Source: Globe and Mail
The Canadian ETF Association Adds Eight Portfolio Manager Members
ETF Industry Association Bolsters Its Ranks with Some of Canada's Top ETF Investors
March 25, 2014--The Canadian ETF Association ("CETFA") is pleased to announce that eight portfolio managers have joined the association as Portfolio Manager Members.
The Portfolio Manager category of membership is reserved for a group of elite Canadian portfolio managers, who place a heavy emphasis on Exchange Traded Fund (ETF) investing.
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Source: Canadian ETF Association
Pimco Chases BlackRock in ETFs as Money Returns to Bonds
March 25, 2014--Pacific Investment Management Co., the envy of the bond world when it tripled assets following the financial crisis, is finding itself in an unusual role: Playing catch up to competitors in the growing market for exchange-traded funds.
As ETFs receive an increasing share of money going into bond funds, Pimco is adding strategies, with 19 new funds announced in January.
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Source: Bloomberg
SEC mistaken to assume ETNs are retail products, say critics
March 25, 2014--The SEC's Office of Capital Markets Trends finally made good on its promise to write to banks over concerns about exchange-traded notes in February, but some say asking them to tailor disclosure to retail investors shows a fundamental misunderstanding of this $22 billion market. Yakob Peterseil reports
The US Securities and Exchange Commission (SEC) finally broke its silence on exchange-traded notes (ETNs) in February, telling banks in confidential letters that they need to make their disclosure about these securities more intelligible to retail investors. Behind the scenes, banks and their lawyers are already whispering that this latest guidance from the Office of Capital Markets Trends is likely to have little impact on the industry.
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Source: Risknet.com
NYSE New listing-ETRACS Monthly Reset 2x Leveraged S&P 500 Total Return ETN
March 24, 2014--NYSE Euronext is pleased to announce that on Wednesday, March 26, 2014, the following ETN will be listed on NYSE Arca and will begin trading as a new issue:
Security Name:
ETRACS Monthly Reset 2x Leveraged S&P 500 total Return ETN
Short Name:2xS&P 500 TR ETN
Trading Symbol:SPLX
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Source: NYSE ARCA
SEC-Staff Analysis of Data and Academic Literature Related to Money Market Fund Reform
March 24, 2014--The staff of the Securities and Exchange Commission today made available certain analyses of data and academic literature related to money market fund reform.
The analyses, which were conducted by the staff of the SEC's Division of Economic and Risk Analysis, are available for review and comment on the Commission's website as part of the comment file for rule amendments proposed by the SEC in June 2013 regarding money market fund reform.
view the SEC-Analysis of Liquidity Cost During Crisis Periods
view the SEC-Analysis of Government Money Market Fund Exposure to Non-Government Securities
view the SEC-Analysis of Demand and Supply of Safe Assets in the Economy
Source: SEC.gov
Investors ignore ETFs at their peril
March 24, 2014--For all the positive headlines that exchange-traded funds garner, its somewhat surprising that growth in Canada has slowed sharply in the past year.
ETFGI research shows global ETF assets under management recently hit US$2.44-trillion, while BlackRock, the world's largest money manager and owner of the biggest ETF provider iShares, reports that the worldwide number of ETFs in January crossed 5,000 for the first time-choice is a good thing.
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Source: Financial Post
PowerShares Canada announces changes to three ETFs, one mutual fund
March 24, 2014--PowerShares Canada today announced changes to the investment strategy of PowerShares Canadian Preferred Share Index Class and PowerShares Canadian Preferred Share Index ETF ("PPS").
In 2013, The NASDAQ OMX Group, Inc. ("NASDAQ") acquired the index business of Mergent, Inc., including Indxis, which created and maintained the underlying index for both PowerShares Canadian Preferred Share Index Class and PPS.
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Source: Invesco Ltd.
