Americas ETP News
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SEC Seeks Information to Assess Standards of Conduct and Other Obligations of Broker-Dealers and Investment Advisers
March 1, 2013-- The Securities and Exchange Commission today published a request for data and other information to assist the agency in considering whether to make new rules about the standards of conduct and regulatory obligations for broker-dealers and investment advisers when they provide personalized investment advice about securities to retail customers.
“Studies have shown that few investors realize that the standard of care they receive depends on the type of investment professional they use. And often investors do not know which type of financial professional they are relying on,” said SEC Chairman Elisse B. Walter. “This request for information will help us in our ongoing consideration of alternative standards of conduct for certain broker-dealers and investment advisers, as well as potential harmonization of other aspects of regulation in this area.”
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Source: SEC.gov
Van Eck Unconstrained Emerging Markets Bond Fund Passes $100 Million AUM in Six Months
Actively managed fund is able to invest across markets, currencies, credits and maturities
March 1, 2013--Assets under management in Van Eck's recently introduced Unconstrained Emerging Markets Bond Fund (Advisor-EMBAX; Institutional-(EMBUX) reached $100 million just six months after launch and now stand at $130 million.
The Fund, an actively managed, unconstrained emerging market bond mutual fund, is among the first funds mandated to invest in both local currency and hard currency denominated bonds, as well as government, quasi-government and corporate fixed income instruments.
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Source: Van Eck Global
ALPS Launches US Equity High Volatility Put Write Index Fund
February 28, 2013--A DST Company announced today the launch of the U.S. Equity High Volatility Put Write Index Fund (NYSE Arca: HVPW).
The Fund seeks investment results that correspond generally to the performance, before the Fundfs fees and expenses, of an index called the NYSE Arca U.S. Equity High Volatility
Put Write Index. The Index reflects the performance of a portfolio of exchange-traded put options on highly volatile stocks.
The ALPS HVPW Fund is designed for investors who seek to obtain income through selling put options, selling 60 day listed put options every 2 months (6 times per year) on 20 stocks. The Fund intends to distribute, at the end of each 60]day period out of net investment income and/or short]term capital gains, an amount of cash equal to 1.5% of the Fundfs net assets at the end of such 60]day period. If the Fundfs net investment income is insufficient to support a 1.5% distribution in any 60]day period, the distribution will be reduced by the amount of the shortfall. Also note while the Fund only intends to make such distributions out of net investment income and/or short]term capital gains, it is possible that in certain circumstances, a portion of a distribution may result in a return of capital (which is a return of the shareholderfs investment in the Fund).
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Source: ALPS
Horizons ETFs announces proposed change to the investment objective of the Horizons Active Advantage Yield ETF
February 28, 2013--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") hereby announce that a special meeting (the "Meeting") of unitholders of the Horizons Active Advantage Yield ETF ("HAF") has been called to consider and, if advisable, pass a resolution to approve a change to the investment objective of HAF.
The Special Meeting will be held in Toronto at the office of the Manager, 26 Wellington Street East, Suite 604, Toronto, Ontario on March 27, 2013 at 11:00 a.m. Toronto time.
The Manager is seeking approval from the HAF unitholders to change the investment objective of HAF so that it instead seeks to provide unitholders with: (i) a stable stream of tax-efficient monthly distributions; and (ii) the opportunity for capital appreciation through exposure to a tactical asset allocation strategy that focuses primarily on fixed income and fixed income-like securities.
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Source: Horizons Exchange Traded Funds
Horizons ETFs Announces Approval of Change to the Investment Objective of the Horizons S&P 500(R) Index (C$ Hedged) ETF
February 28, 2013--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada) Inc. (the "Manager") hereby announce that a change to the investment objective of the Horizons S&P 500(R) Index (C$ Hedged) ETF ("HXS") was approved at a special meeting of unitholders held today.
Beginning on or about April 1, 2013, HXS will seek to replicate, to the extent possible, the performance of the S&P 500® Index (Total Return), net of expenses.
On or about April 1, 2013, the Manager also expects to change the name of HXS to the "Horizons S&P 500® Index ETF" and to offer units of HXS in both Canadian and US dollars.
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Source: Horizons Exchange Traded Funds
Mirae Asset Management- Latin America Equity Market Outlook
February 28, 2013--The fragile global economic backdrop is likely to cause continued volatility for Latin American equities into the first quarter of 2013. We do not currently subscribe, however, to a scenario of rupture within the euro zone or a collapse in U.S. growth due to a failure to negotiate the fiscal cliff.
The developed world is undergoing a prolonged phase of structural deleveraging, both at the household and at the sovereign level. As a result, the emerging world will remain the driver of global output, led by China, with positive implications for Latin America, a key trading partner.
Brazilian earnings revisions are bottoming, Mexico is undergoing significant structural reform and the Andean markets are set for another year of robust growth. Argentina stands out as the region’s only major highrisk economy.
In the current environment of low global economic and earnings visibility, companies delivering stable earnings growth and reliable cash generation are likely to command a rising premium. Falling yields in U.S. Treasury, Gilt and Bund markets will increasingly force asset allocators toward higher risk assets, including equities, and we expect this search for yield to result in rising premiums for dividend-paying blue chips with strong balance sheets. Latin American income properties, airports and toll roads fall into this category.
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Source: Mirae Asset Management
U.S. ETF prices come to Canada
Ultra-cheap ETFs have arrived.
February 28, 2013--It's been a few years since we've had a good old-fashioned gas-price war at the pumps. But most of us can still remember the vehicle lineups.
Some car owners even filled Jerry cans to squeeze every last ounce of value from the temporarily depressed fuel costs. A few bucks saved on a couple tanks of gas is one thing; but that’s peanuts compared to what you could save during the price war now raging at an investment brokerage near you. It’s a marvel what a little competition can do for a marketplace.
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Source: Canadian Business
U.S. Department of the Treasury TIC Annual and Benchmark Surveys Update
February 28, 2013--The preliminary data from the annual survey on Foreign Portfolio Holdings of U.S. Securities at End-June 2012 are available, along with the Press Release, dated February 28, 2013.
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Source: US Department of the Treasury
First Trust Launches First Trust High Yield Long/Short ETF
Actively Managed High-Yield ETF Utilizes Investment Strategy to Seek Enhanced Returns in Various Market Conditions While Potentially Mitigating Interest-Rate Risk
February 28. 2013--First Trust Advisors L.P. ("First Trust"), a provider of more than 200 investment products, many of which offer transparency, tax efficiency and a rules-based approach to stock selection, has launched a new actively managed exchange-traded fund ("ETF"), the First Trust High Yield Long/Short ETF (NASDAQ: HYLS).
The First Trust High Yield Long/Short ETF (“the Fund”) seeks to provide current income by investing primarily in a diversified portfolio of below-investment-grade or unrated high-yield debt securities, including U.S. and non-U.S. corporate debt obligations, bank loans and convertible bonds. Its secondary objective is to generate capital appreciation. Since the historical correlation of performance between high-yield securities and traditional fixed-income, including investment-grade corporate bonds and Treasury securities, is low, First Trust believes the addition of high-yield securities to a well-diversified portfolio has the potential to enhance overall return and provide diversification benefits while potentially decreasing portfolio volatility.
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ProShares Launches Listed Private Equity ETF "Private equity has long been a staple of institutional and high-net-worth individuals' portfolios; for other investors, it's been difficult to access," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "PEX offers access to global private equity with the liquidity, transparency and cost effectiveness of an ETF." view more
Source: First Trust
Private Equity Publicly Available Through an ETF
February 28, 2013--ProShares, a premier provider of alternative ETFs, today announced the launch of ProShares Global Listed Private Equity ETF (BATS: PEX).
PEX is the first globally diversified ETF focused on companies that invest primarily in private enterprises.
Source: Proshares
