Americas ETP News
If your looking for specific news, using the search function will narrow down the results
ETFs open doors to other institutional accounts
January 21, 2013--On the eve of the 20th anniversary of the first U.S. listed exchange-traded fund -the SPDR S&P 500 ETF-both institutional investors and money managers are still hashing out their views on exchange-traded products.
As assets continue to flow into ETPs — $1.4 trillion in the U.S. at the end 2012 and $188 billion in net new flows, the structure has become too difficult to ignore, but the investment decision is still a challenge for large investors comparing ETFs to institutional funds, commingled trusts and separately managed accounts.
read more
Source: Pensions & Investments
Institutional investors looming larger over US ETF marke
January 21, 2013--Invesco PowerShares has launched a web portal for market makers and institutional buyers in expectation of increased interest in its enhanced beta lineup from buy-side managers.
The exchange traded fund provider launched its institutional web portal this month in an effort to give the client segment a place where it could find information specific to its needs, says John Hoffman, director of institutional sales and capital markets at PowerShar
view more
Source: FT.com
HIMI assumes management responsibilities for Horizons Active Balanced ETF
January 21, 2013--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are announcing that, effective immediately, the day-to-day portfolio management responsibilities for the Horizons Active Balanced ETF (the "ETF" or "HAA") currently provided by Hillsdale Investment Management Inc. will be assumed by Horizons Investment Management Inc.
("HIMI"), the investment manager to the ETF and an affiliate of Horizons ETFs and AlphaPro.
"We have enjoyed working with Hillsdale and thank them for the support they have provided HAA since its launch in 2010," said Howard Atkinson , CEO of Horizons ETFs.
In addition, the ETF will change its name on or about January 30, 2013 to the Horizons Active Diversified Income ETF. The ETF's Class E units and Advisory Class units will continue to trade on the Toronto Stock Exchange ("TSX") under the ticker symbols HAA and HAA.A, respectively.
view more
Source: Horizons Exchange Traded Funds
In two ,State Street blamed for investors' huge losses
January 20, 2013--State Street Corp. is under fire in Boston federal court for huge losses suffered by clients of a Virgin Islands investment firm.
In two separate lawsuits this month, plaintiffs claim State Street failed in its duty as a custodian of their funds. State Street should have acted, the lawsuits say, after TAG Virgin Islands Inc. dramatically shifted its focus from stable to risky investments and after TAG obtained the plaintiffs’ funds after submitting numerous fake subordinated notes.
view more
Source: Patriot Ledger
Wall St records third straight week of gains
January 19, 2013--US equity markets recorded the third consecutive weekly gain this year,
as investors reacted to a barrage of earnings results from large banks and industrial bellwethers.
Source: FT.com
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices-A Deletion From The S&P/TSX Venture Composite Index
January 18, 2013--S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shares of GoGold Resources Inc. will be removed from the S&P/TSX Venture Composite Index after the close of Monday, January 21, 2013.
The company will graduate to trade on TSX under the same ticker symbol.
Source: S&P Canadian Index Services
US releases final FATCA rules
January 18, 2013--The US authorities have released their final set of rules on the FATCA regime designed to prevent tax evasion among US citizens with assets in offshore accounts.
The final draft of the rules gives further details on the type of payments which will be subject to a 30% withholding tax, and clarifies the obligations of financial institutions caught by the rules.
In October, the Internal Revenue Service and the US Treasury Department postponed the first phase of FATCA to give foreign financial institutions (FFIs) more time to comply with the rules.
view more
Source: Investment Week
Fed minutes show slow crisis reaction
January 18, 2013--Top officials at the US Federal Reserve took months to realise that the 2007 financial crisis would rock the world's largest economy, according to an embarrassing set of meeting transcripts released on Friday.
The transcripts reveal that some Fed policy makers initially viewed the market turmoil, which erupted in August 2007 on the back of problems in the market for subprime mortgage loans, as good news because markets were pricing in more risk.
view more
Source: FT.com
US releases final FATCA rules
January 18, 2013--The US authorities have released their final set of rules on the FATCA regime designed to prevent tax evasion among US citizens with assets in offshore accounts.
The final draft of the rules gives further details on the type of payments which will be subject to a 30% withholding tax, and clarifies the obligations of financial institutions caught by the rules.
view more
Source: Investment Week
ETFs Turn 20-Years Old in the U.S.
January 17, 2013--The first commercially successful U.S. exchange-trade fund (ETF) turns 20-years old this month.
SPDR S&P 500 (Ticker: SPY) was launched on January 22, 1993 after spending several years in SEC registration. It was an evolution in the mutual fund industry. Today, SPY is the largest ETF by asset in the exchange-traded product industry that has total assets of over $1.4 trillion.
read more
Source: Forbes
