Americas ETP News
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SEC fears may cement Vanguard monopoly
April 25, 2022--Patent for unique tax-efficient fund structure expires in 2023, but rivals may not be able to follow suit
Fears that some investors are cross subsidising others may prevent rival fund managers from being allowed to replicate a unique tax-efficient fund structure created by Vanguard.
Vanguard's "exchange traded fund-as-a-share-class" structure allows the Pennsylvanian powerhouse to operate a mutual fund and a sister ETF as essentially the same vehicle, generating superior tax efficiency and economies of scale.
Vanguard's patent for the structure expires next year, prompting speculation that rival fund groups might seek to replicate it.
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Source: ft.com
Grayscale makes fresh push for SEC approval to become bitcoin ETF
April 23, 2022--Crypto asset manager has focused on key legal detail in letter to regulator ahead of July deadline
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Source: ft.com
State Street Global Advisors Introduces Two SPDR MSCI Climate Paris Aligned ETFs
April 22, 2022--Climate leader UC Investments (University of California)1 provides early stage commitment to funds designed for investors seeking to decarbonize their portfolios.
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today introduces two SPDR MSCI Climate Paris Aligned ETFs designed to help investors meet their climate objectives.
The funds, SPDR MSCI USA Climate Paris Aligned ETF (NZUS) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC), 2 track the MSCI USA Climate Paris Aligned and MSCI ACWI Climate Paris Aligned Indexes and are geared toward the growing number of investors interested in addressing climate change in their portfolios, both to mitigate climate risk and to invest in climate solutions.
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Source: State Street Global Advisors
State Street Global Advisors Introduces Two SPDR(R) MSCI Climate Paris Aligned ETFs
April 22, 2022--Climate leader UC Investments (University of California)1 provides early stage commitment to funds designed for investors seeking to decarbonize their portfolios.
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today introduces two SPDR MSCI Climate Paris Aligned ETFs designed to help investors meet their climate objectives.
The funds, SPDR(R) MSCI USA Climate Paris Aligned ETF (NZUS) and SPDR(R) MSCI ACWI Climate Paris Aligned ETF (NZAC),2 track the MSCI USA Climate Paris Aligned and MSCI ACWI Climate Paris Aligned Indexes and are geared toward the growing number of investors interested in addressing climate change in their portfolios, both to mitigate climate risk and to invest in climate solutions.
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Source: State Street Global Advisors
Fidelity Bulks Up Its Thematic Lineup With Crypto and Metaverse ETFs
April 21, 2022--FMET, FDIG debut into crowded field of crypto-focused funds
Fidelity also launching metaverse 'experience' for new traders
Fidelity Investments is launching a pair of crypto-focused exchange-traded funds in a bid to grab flows from rivals that have swooped into the nascent space.
The Fidelity Metaverse ETF (ticker FMET) and the Fidelity Crypto Industry and Digital Payments ETF (FDIG) will begin trading Thursday. FMET will primarily invest in companies involved in building out the "future state of the Internet." FDIG will track blockchain and digital payment processing companies, according to a statement.
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Source: bloomberg.com
FlexShares Expands ESG & Climate Suite with Emerging Markets ETF
April 21, 2022--Firm's sustainable core equity strategy now available across all major equity markets
Northern Trust Asset Management's FlexShares(R) Exchange Traded Funds announced today the launch of a new Environmental, Social and Governance (ESG)* ETF focused on climate with exposure to emerging markets: the FlexShares ESG & Climate Emerging Markets Core Index Fund (NYSE: FEEM).
This fund builds on FlexShares' existing climate suite introduced in September 2021, which currently includes US large cap equities, developed markets ex-US equities, and two fixed-income ETFs.
The FEEM fund will align with the broader suite's strategy, which seeks to help investors improve their portfolio's overall ESG score and reduce carbon risk while maintaining core equity exposure
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Source: FlexShares
Fidelity Opens "The Fidelity Stack" in Decentraland; Becomes First Brokerage Firm With Immersive Educational Metaverse Experience
April 21, 2022--The Fidelity Stack features Invest Quest with gamified financial education
New experience launches alongside Fidelity Metaverse ETF (FMET)
Fidelity Investments today celebrated the grand opening of its first immersive metaverse experience aimed at offering a new way to learn investing basics.
The platform is the latest move by Fidelity to create innovative ways to serve customer needs, especially the next generation of customers, as it becomes the first leading brokerage firm to offer an educational metaverse experience.
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Source: Fidelity Investments
Roundhill Launches Cannabis ETF (CBOE: WEED)
April 20, 2022--Roundhill Investments, an ETF sponsor focused on innovative thematic funds, today launched the Roundhill Cannabis ETF ("WEED ETF") on the Cboe BZX Exchange. The WEED ETF seeks to provide investors with exposure to the cannabis sector, including U.S. multi-state operators ("MSOs").
According to BDSA, the global cannabis market is expected to grow to $61 billion by 2026, more than double $29 billion in sales for 2021. The majority of this growth is expected to come from the U.S. and Canadian markets, as consumer access improves amongst legalized states. Positive regulatory momentum continues abroad as well, including Mexico, and European markets such as the U.K. and Germany.
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Source: Roundhill Investments
First Trust Launches First Trust Indxx Metaverse ETF
April 20, 2022--An index-tracking ETF that provides exposure to companies that comprise the metaverse industry
First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched a new ETF, the First Trust Indxx Metaverse ETF (Nasdaq: ARVR) (the "fund").
The fund seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an index called the Indxx Metaverse Index (the "index") which is designed to track the performance of companies that are involved in offering technologies that assist in creating the Metaverse.
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Source: First Trust
Principal Global Investors to convert six passive ETFs to active strategies
April 20, 2022--Consent of investors needed for changes to several of the funds' investing restrictions
Principal Global Investors is planning to convert its largest exchange traded fund and five others into actively managed strategies, disclosures show.
The manager intends to overhaul the investment strategies of its $1.6bn Principal US Mega-Cap ETF, $771mn Principal US Small-Cap Multi-Factor ETF, $235mn Principal Value ETF, $86mn Principal Quality ETF, $71mn Principal Healthcare Innovators ETF and $27mn Principal Millennials ETF, according to disclosures.
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Source: ft.com
