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Minutes of the Federal Open Market Committee, July 26-27, 2022
August 17, 2022--Developments in Financial Markets and Open Market Operations
The deputy manager turned first to a discussion of financial market developments. Financial markets over the intermeeting period reflected elevated uncertainty about the outlook. Most market participants appeared to view a moderation of inflation and slower, but still positive, economic growth ahead as the most likely scenario.
However, investors appeared to be increasingly attentive to downside risks to the economy in light of the potential for shocks from abroad and the continued upside surprises to inflation.
On net, financial conditions eased modestly over the period but remained substantially tighter than at the start of the year. Treasury yields fell, reflecting expectations of slower growth as well as a decline in inflation compensation. Respondents to the Open Market Desk's surveys of primary dealers and market participants marked down their growth forecasts for 2022 and 2023 and attached higher odds than in the June survey to the possibility that the U.S. economy could enter a recession in coming quarters.
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Source: federalreserve.gov
Argent Capital Management, LLC Launches New Actively Managed Mid Cap ETF
August 17. 2022--Argent Capital Management is pleased to announce the launch of the Argent Mid Cap ETF, a transparent, actively managed ETF. The ETF will begin trading on the Nasdaq today under the ticker symbol AMID.
The Argent Mid Cap ETF seeks long-term capital appreciation for its investors by using a blend of quantitative and fundamental research to identify good businesses undergoing internal or external positive change.
This is the same investment strategy and philosophy as the company's mid-cap strategy, started more than eight years ago. The strategy uses Argent's proprietary quantitative tool, The Argent Alpha Model, to develop a concentrated and selective portfolio of 35-50 mid-cap stocks which exhibits high active share and low turnover.
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Source: Argent Capital Management
Teucrium Launches Auxiliary Services for ETF Issuers
August 17, 2022--Teucrium Trading, LLC, the Sponsor of agricultural futures-based ETFs, today announced that it will provide white label ETF launch, sub-advisory, and marketing services for established and emerging ETF issuers.
Teucrium will offer its expertise in derivatives and futures-based ETFs through their Commodity Trading Sub-Advisor Services unit providing support for fund sponsors launching ETFs, managing trading operations, and marketing funds.
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Source: Teucrium Trading LLC
Vanguard active funds suffer bloodiest first-half on record
August 15, 2022--Investors pulled $54.3bn from the manager's active mutual funds-more than from any other provider
Vanguard's active mutual funds had their bloodiest first half ever, data indicates, even as its passive products enjoyed inflows.
Investors pulled $54.3bn from the firm's 71 active mutual funds during the first six months of 2022, the most of any fund complex, according to Morningstar Direct, and the worst it has ever recorded on its database, which goes back to 1993.
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Source: ft.com
Meme and thematic ETFs surge as inflation fears dip
August 15, 2022--Legislation paving the way for a boom in clean energy has powered strong performance in related funds
Beaten-up meme and thematic stock exchange traded funds have made dramatic gains in recent weeks, buoyed by signs of a possible peak in inflation and legislation paving the way for a boom in clean energy.
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Source: ft.com
ETFs shine brighter than mutual funds after brutal first half
August 12, 2022--Tax-loss harvesting is poised to accelerate exchange traded fund adoption in the US
ETF providers may find a silver lining after 2022's brutal first half with some US investors who took significant losses in mutual funds during the period looking to transition their assets to ETFs, executives said.
This is particularly true with fixed-income funds, which during the first six months of this year experienced the worst drawdown the products have seen in 30 years, executives said.
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Source: ft.com
Innovator Lists the Uncapped Accelerated U.S. Equity ETF (XUSP), a Long-Term Core Equity Solution for Advisors
August 11, 2022--XUSP's investment strategy seeks long-term outperformance of SPY by producing accelerated returns from positive equity market environments exceeding performance thresholds
Rules-based fund constructed in an effort to provide structural alpha without an upside cap, leverage, nor market timing
New Managed Outcome ETFTM intended to be part of a core equity portfolio as an alternative for active managers, high conviction stock selection strategies and momentum funds
Allocators can express bullish views on Large-cap U.S. stocks with XUSP
Innovator Capital Management, LLC (Innovator) the pioneer and leader of Defined Outcome ETFsTM, today announced the launch of the Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) on the Cboe. XUSP will seek to provide investors with exposure to the SPDR S&P 500 ETF Trust (SPY) with a disciplined options overlay strategy.
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Source: bloomberg.com
BlackRock launches spot bitcoin private trust for U.S. clients
August 11, 2022--BlackRock Inc (BLK.N), the world's biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, according to a blog post on its website.
The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said.
"Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets," the company said.
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Source: reuters.com
ETFGI reports the ETFs industry in Canada gathered net inflows of US$1.52 billion in July 2022
August 11, 2022--August 11, 2022--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that ETFs industry in Canada gathered net inflows of US$1.52 billion during July, bringing year-to-date net inflows to US$16.79 billion.
During the month, Canadian ETF assets increased by 5.8%, from US$243 billion at the end of June to US$257 billion, according to ETFGI's July 2022 Canadian ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Net inflows of $1.52 Bn in July 2022.
Net inflows of $16.79 Bn during 2022 are the third highest on record, after YTD net inflows of $28.60 Bn in 2021 and YTD net inflows of $21.71 Bn in 2020.
Assets of $257 Bn invested in ETFs listed in Canada at the end of July 2022.
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Source: ETFGI
Direxion Launches Daily 2X Leveraged Electric and Autonomous Vehicle ETF: EVAV
August 11, 2022--EVAV Provides 200% Exposure to Electric and Autonomous Vehicles Industry
Direxion, a leading provider of tradeable and thematic ETFs, today announced the launch of the Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (Ticker: EVAV). The Fund seeks to achieve 200% of the daily performance of the Indxx US Electric and Autonomous Vehicles Index.
The Indxx US Electric and Autonomous Vehicles Index provides exposure to 25 U.S.-listed companies poised to disrupt the existing transportation market by bringing new and cleaner modes of transportation, such as electric and autonomous vehicles. It includes companies beyond vehicle manufacturers to paint a more holistic picture of the rapidly expanding industry.
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Source: Direxion
