Americas ETP News
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BlackRock Canada Announces Certain Changes to XHY
July 5, 2013--BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly owned subsidiary of BlackRock, Inc., has determined to make certain changes to the investment strategy of the iShares U.S. High Yield Bond Index Fund (CAD-Hedged) (TSX:XHY).
The new investment strategy of XHY will be to invest primarily in a regularly rebalanced portfolio of U.S. dollar-denominated high yield corporate bonds, selected by BlackRock Canada from time to time, that in aggregate closely match the characteristics of the Markit iBoxx USD Liquid High Yield Total Return Index hedged in CAD (the "XHY Index"), and hedge any resulting U.S. dollar currency exposure back to Canadian dollars. This will be a change from the current investment strategy of XHY, which involves investing in the iShares iBoxx $ High Yield Corporate Bond ETF, a U.S. iShares Fund that itself invests in a portfolio of U.S. dollar-denominated high yield corporate bonds included in the XHY Index. The investment objective of XHY and the XHY Index will remain unchanged.
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Source: BlackRock
BM&FBOVESPA publishes June market performance
BOVESPA segment registers record number of trades, average daily trading volume, and average daily financial volume-ETFs register record number of trades
July 4, 2013--The total financial volume in the BOVESPA segment reached BRL 178.84 billion in June, compared to BRL 162.35 billion in May, 2013. The daily average set a record of BRL 8.94 billion up from BRL 7.73 billion recorded in May.
The total number of trades also reached the milestone of 21,381,341 in June, surpassing the 19,733,908 trades registered in May. The average daily trading volume set a new record at 1,069,067 compared to 939,710 the previous month.
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Source: BOVESPA
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX Venture Composite Index
July 4, 2013--S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shares of Sierra Metals Inc. (TSXVN:SMT) will be removed from the S&P/TSX Venture Composite Index after the close of trading on Friday, July 5, 2013.
The company will graduate to trade on TSX under the same ticker symbol.
Source: S&P Dow Jones Indices
Colombia Strengthens in Financial Sector Resilience
Strengthening Financial Sector Resilience and Developing Capital Markets to Support Sustainable Growth and Poverty Alleviation in Colombia
July 4, 2013--Policy actions supported by this operation contributed to mitigating the impact of the 2008 global financial crisis in Colombia.
Banking sector capitalization and liquidity improved despite the global financial crisis, while vibrant economic growth quickly resumed, averaging 5 percent in 2010-2011, following a modest growth deceleration in 2009. Strong economic growth also supported poverty alleviation. Between 2006 and 2011, the population living below the domestic poverty line declined by almost 8 percentage points.
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Source: World Bank
When the Going Gets Tough, the Tough Use ETFs
July 3, 2013--Investors talked and ETFs sure listened in June.
While we've written about market rollercoasters and nail biters here on the blog before, this past month was a doozy, and we saw investors turn to ETFs to express their rapidly shifting market views.
Heading into June, global ETF flows were following a record-setting pace, breaking through the $100 billion mark. But market sentiment shifted toward the end of May when Fed Chairman Ben Bernanke signaled that the Fed could slow its bond-buying program. After Bernanke said on June 19 that the Fed could begin tapering its monetary stimulus before the end of 2013, yields on the 10-year Treasury jumped and global investors – who have become hypersensitive to central bank comments – reacted quickly, selling emerging markets equity, gold and fixed income ETFs.
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Source: iShares Blog
Vanguard completes transition to FTSE benchmarks
July 3, 2013--FTSE Group ("FTSE") has announced the retirement of its FTSE Emerging Transition Index following the successful completion last week of the six-month transition of the Vanguard Emerging Markets Stock Index Fund to FTSE's Emerging benchmark.
The $70 billion Vanguard fund and its related exchange traded fund (Ticker: VWO), the world’s largest emerging markets ETF, now track the FTSE Emerging Index, used by investors worldwide to benchmark emerging market equities.
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Source: FTSE
Versatility Fuels ETF Growth in Canadian Institutional Portfolios
More than a third of institutions in Canada using exchange-traded funds (ETFs) expect to increase their allocations in the coming year.
July 3, 2013--Executive Summary
More than one-third of Canadian institutional funds and asset managers taking part in a special study by Greenwich Associates expect to increase their use of exchange-traded funds ETFs in the coming year.
The growing use of ETFs is being driven largely by institutional investors’ success in finding new applications for the products within their portfolios. Throughout Canada, institutions are extending their use of ETFs from mainly tactical functions to strategic purposes and from equities to fixed income and other asset classes.
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Source: Greenwich Associates
An Innovative Series Trust for Actively Managed ETFs Enters the Market in the US
July 3, 2013--Atlantic Fund Services Luxembourg is pleased to announce that Atlantic Fund Services in the US has launched Forum ETF Trust, a series trust designed for independent investment advisers to launch and operate adviser-branded actively managed ETFs.
Forum ETF Trust will offer all the benefits of a traditional shared trust, with an important innovation. The Trust will use an investment manager–investment adviser structure rather than the typical adviser–sub adviser structure. The distinction is important because, while Forum Investment Advisors (FIA) will serve as investment manager to the Trust and has responsibility for certain compliance and oversight functions, the Trust’s advisers have sole responsibility for investment decisions.
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Source: Atlantic Fund Services
TMX Group Consolidated Trading Statistics-June 2013
Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange, NGX
July 3, 2013--TMX Group Limited today announced June 2013 trading statistics for its diversified group of exchanges -Toronto Stock Exchange, TSX Venture Exchange,TMX Select, Alpha, Montreal Exchange (MX) and Natural Gas Exchange (NGX).
Trading volume on Toronto Stock Exchange in June 2013 decreased 7% from May 2013, and decreased 4% year-over-year. Volume on TSX Venture Exchange decreased 16% from the previous month and decreased 15% compared to June 2012. TMX Select trading volume decreased 23% from the previous month, but increased 4% compared to the same month last year. Alpha trading volume for June 2013 decreased 21% compared to the previous month and was down 57% compared to the same month a year earlier.
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Source: TMX Group Inc.
US state pension funds urged to index
July 3, 2013--US public employee pension funds are wasting billions of dollars paying fees to investment managers on Wall Street when they could save money and make better returns if they used low-cost index funds, according to a new joint study by two think-tanks based in Maryland.
“State pension funds should consider indexing. This would be a safer, more responsible use of resources than paying Wall Street management firms billions of dollars each year to deliver sub-par results,” said Jeff Hooke, chairman of the Maryland Tax Education Foundation.
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Source: FT.com
