Americas ETP News
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Morningstar Launches Real Asset Index For Benchmarking Diversified Portfolio of Inflation-Hedged Investments
January 17, 2013--Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has launched the Morningstar(R) US Real Asset IndexSM, a diversified portfolio of liquid assets that traditionally provide a hedge against inflation, including Treasury inflation-protected securities (TIPS), real estate investment trusts (REITs), and commodity stocks and futures.
"Inflation erodes the value of financial assets. While inflation has been low overall in recent decades, the cost of items retirees consume—healthcare, gas, food—has been rising at a fast clip,” Sanjay Arya, senior vice president of Morningstar Indexes, said. "Investors have been showing a great deal of interest in holding a variety of investments that keep pace with inflation and add portfolio diversification, and the investment industry is paying attention. Since early 2010, more than 20 new funds have been launched that allocate between several real asset classes. The Morningstar US Real Asset Index will allow investors to better benchmark their real return investments and gain a deeper understanding of the benefits of adding a broad spectrum of inflation-hedged assets to their portfolios."
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Source: Morningstar
Back to the drawing board for NYSE's ETF liquidity scheme
January 17, 2013--NYSE Arca has withdrawn its proposal to help exchange traded fund providers pay market makers for increased liquidity, a blow to providers looking for ways to make newer and smaller products more appealing to traders.
The Big Board notified the Securities and Exchange Commission on January 9 that it was withdrawing its Lead Market Maker Incentive Program pilot proposal, just days before the SEC was mandated by law to approve or reject the proposal, according to an SEC filing.
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Source: FT.com
Finra Scrutinizes Options Firms Over Possible Order Mismarking
Janurary 17, 2013--Market regulators are pursuing a wide-ranging review of firms that trade stock options, scrutinizing electronic trading practices that may have allowed firms to avoid paying exchange fees and step ahead of other investors to complete trades.
The Financial Industry Regulatory Authority is conducting a sweep of options firms after exchanges last year levied a $6.75 million fine on Goldman Sachs Group Inc. for improperly submitting stock-options orders over a period of six years.
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Source: Wall Street Journal
Announcing the Launch of the Customer Value Index 200: Identifying the Leading Customer Engagement Companies
January 17, 2013--The Porter Group, Brady Capital Research (www.bradycap.com), and wRatings Corporation (www.wRatings.com) today announced the launch of the Customer Value Index 200 (www.cvi200.com).
This innovative index offers investors an opportunity to capture the value offered by companies that have historically delivered high quality economic profits and developed deeply emotional customer relationships based on cultures of transparency, authenticity, and engagement. By combining a patented approach to identifying companies with superior competitive positions and harnessing the power of social media the CVI 200 offers a play on the appreciating value of “social capital” over the next decade and the real value creating powers of strong core values, dynamic corporate cultures, and stakeholder community focus.
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Source: Brady Capital Research and The Porter Group and wRatings Corporation
CBO's Economic Forecasting Record: 2013 Update
January 17, 2013--For more than three decades, CBO has prepared economic forecasts that underlie the agency's projections for the federal budget and cost estimates for proposed federal legislation.
In particular, forecasts of output, income, inflation, and interest rates play a significant role in the agency’s budgetary analysis; for example, projections of wages and salaries are used to forecast individual income tax receipts.
CBO regularly evaluates the quality of its economic forecasts by comparing them with the economy’s actual performance and with forecasts by the Administration and the Blue Chip consensus—an average of about 50 private-sector forecasts. Such comparisons indicate the extent to which uncertainty and imperfect information may have caused CBO to “miss” patterns or turning points in the economy. They also identify areas where CBO has tended to make larger errors or less accurate forecasts than other analysts.
How Does CBO’s Forecasting Record Compare with Those of the Administration and the Blue Chip Consensus? CBO’s forecasts generally have been comparable in quality with those of the Administration and the Blue Chip consensus.
view the CBO's Economic Forecasting Record: 2013 Update
Source: CBO (Congressional Budget Office)
iShares revives US momentum with a little help from Vanguard
January 16, 2013--iShares benefited from a record sales year for exchange traded funds, but industry observers say its aggressive product and business strategy moves were major drivers in its ability to retake the sales crown from Vanguard.
While Vanguard remained the fastest-growing ETF shop as a percentage of total assets, iShares’ $60.7bn in net new assets for 2012 placed it ahead of Vanguard’s $52.7bn, according to Morningstar. Vanguard topped the ETF sales standings in 2011 and 2010.
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Source: FT.com
CFTC.gov Commitments of Traders Reports Update
January 15, 2013--The current reports for the week of January 08, 2013 are now available.
Corrections for the futures-only and the options and futures combined commitment reports dated January 8, 2013 for contract market IFED PG&E CITYGATE FIN BASIS (CFTC ID 023394) were made today.
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Source: CFTC.gov
Seven-year losing streak? Active stock ETFs could change the game
January 15, 2013--Asset management firms beset by massive outflows from actively managed stock funds are lining up to join in on the exchange-traded fund fun. It's probably too late to make a dent on the passive side, but actively managed stock ETFs could be just what the industry needs to tip flows back toward stock pickers.
Last week, T. Rowe Price Group Inc. became the latest fund firm to gain approval from the Securities and Exchange Commission to launch actively managed ETFs. Fidelity Investments, Franklin Resources Inc., Legg Mason Inc., Janus Capital Group Inc. and Columbia Management Investment Advisers all are in various stages of working through the exemptive relief process with the SEC.
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Source: Investment News
Appeal of sector based ETFs spreads
January 15, 2013--Exchange traded funds that track the main sectors of the US stock market are growing in popularity with institutional investors despite them being traditionally used by hedge funds for short-term trading.
The most widely traded are the Select Sector SPDRs which provide exposure to nine broad categories in the US stock market.
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Source: FT.com
DB-Synthetic Equity & Index Strategy-North America-ETF+ Monthly Directory-December 2012
January 15, 2013--This document includes all US listed exchange-traded funds (ETFs) and exchange-traded vehicles (ETVs), plus a special section covering exchange-traded notes (ETNs).
The directory is organized by asset class and asset-class-related sub sections. Within each sub section it has also been sorted. For Equity and Fixed Income ETPs it is sorted by country (or sub region for regional products) in alphabetical order and by AUM in descending order, and for the other ETP asset classes it is sorted by sub sector in alphabetical order and by AUM in descending order. A number of key information points per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US).
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Source:Deutsche Bank-Synthetic Equity & Index Strategy-North America
