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Guggenheim Investments Launches Three BulletShares(R) High Yield Corporate Bond ETFs
Unique Product Suite Now Includes Sixteen Fixed-Term ETFs
April 25, 2012--Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced the launch of three new high yield corporate bond BulletShares exchange traded funds (ETFs): Guggenheim BulletShares 2016 High Yield Corporate Bond Fund (NYSE Arca:BSJG), Guggenheim BulletShares 2017 High Yield Corporate Bond ETF (NYSE Arca:BSJH) and Guggenheim BulletShares 2018 Corporate Bond ETF (NYSE Arca:BSJI).
These funds are a part of a suite of Guggenheim BulletShares(R) ETFs, which recently surpassed $1 billion in total assets as of March 14, 2012.
"BulletShares provide a cost-effective approach to bond laddering," said William Belden, head of product development for Guggenheim Investments. "Advisors are increasingly looking for ways to use high-yield corporate bonds to diversify their clients' portfolios, and these ETFS are a unique solution."
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Source: Guggenheim Investments
Traders Migrating To Sector, Commodity ETFs: Schwab
April 25, 2012--Retail traders are taking on more risk by purchasing ETFs following equity sectors and commodities, according to a report from Charles Schwab Corp.
Among this client segment, about 35% of flows went into sector ETFs in the first quarter to lead all categories, and a big jump from the fourth quarter. [Commodity ETF Assets Hit Record]
"Retail traders sought exposure to real estate, financials and technology," Schwab said in a quarterly update.
ETF assets custodied at Schwab stood at $138 billion as of March 31, 2012, up 14% from the same period in 2011
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Source: Copper ETF
Horizons ETFs Announces Unit Splits
April 25, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada ) Inc., the manager and trustee of the Horizons BetaPro NYMEX Natural Gas Bear Plus ETF and Horizons BetaPro NYMEX Natural Gas Inverse ETF (together, the "ETFs"),
are announcing today that it intends to split the units of the ETFs, as indicated below:
Unit Splits
After the Toronto Stock Exchange (the "TSX") has closed for trading on Friday, May 4, 2012 , the units of the ETFs will be subdivided on the basis of the ratios (the "Split Ratios") set out below, and will begin trading on a split adjusted basis on Monday, May 7, 2012 , and the split will become effective on May 9, 2012 for unitholders of record on that date:
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Source: Horizons Exchange Traded Funds Inc.
Global X files with the SEC
April 25, 2012--Global X has filed a post-effective amendment, registration statement with the SEC for the
Global X SuperIncome & MLP Index ETF-
(SINC)
Global X SuperIncome Preferred ETF-(SPFF)
Global X SuperIncome REIT ETF
view filing
Source: SEC.gov
Federal Reserve Issues FOMC Statement
April 25, 2012--Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated. Household spending and business fixed investment have continued to advance.
Despite some signs of improvement, the housing sector remains depressed. Inflation has picked up somewhat, mainly reflecting higher prices of crude oil and gasoline. However, longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects economic growth to remain moderate over coming quarters and then to pick up gradually. Consequently, the Committee anticipates that the unemployment rate will decline gradually toward levels that it judges to be consistent with its dual mandate. Strains in global financial markets continue to pose significant downside risks to the economic outlook. The increase in oil and gasoline prices earlier this year is expected to affect inflation only temporarily, and the Committee anticipates that subsequently inflation will run at or below the rate that it judges most consistent with its dual mandate.
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Source: FBR
Federal Reserve Board And FOMC Release Economic Projections
April 25, 2012--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached table and charts summarizing the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the April 24-25 meeting of the Committee.
The table will be incorporated into a summary of economic projections released with the minutes of the April 24-25 meeting. Summaries of economic projections are released on an approximately quarterly schedule.
view Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents, April 2012
Source: FBR
FINRA Statement on Introduction of Investment Adviser Oversight Act of 2012
April 25, 2012--The bipartisan bill, Investment Adviser Oversight Act of 2012, introduced today is an important and thoughtful effort to address a serious gap in investor protection. The bill recognizes the need for regular exams of investment advisers, while rightly focusing on retail accounts.
"As FINRA has said, the current level of IA exams is unacceptable, and SROs can help fill this untenable gap in the protection of investment advisory clients."
FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and firms.
For more information, please visit www.finra.org.
Source: FINRA
Fed stands pat but says will act if needed
April 25, 2012--Federal Reserve Chairman Ben Bernanke on Wednesday said U.S. monetary policy is "more or less in the right place" even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
In a statement after a two-day meeting, the Fed's policy-setting panel reiterated its expectation that interest rates would not rise until late 2014 at the earliest, and it took no action on monetary policy.
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Source: Reuters
BNY Mellon appointed by NOW: Pensions as custodian and administrator to new DC workplace pension
April 25, 2012--BNY Mellon, the global leader in investment management and investment services, has been appointed to provide custody and investment administration solutions for NOW: Pensions' new cost-efficient UK defined contribution workplace pension.
NOW: Pensions is the UK-based multi-employer trust established in November 2011. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP (Arbejdsmarkedets Tillægspension), Denmark's largest pension fund and the administration is carried out by Paymaster, an established UK third party administrator.
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Source: BNY Mellon
The NASDAQ Commodity Index Family Goes Live
Index Family is the Latest Offering by the NASDAQ OMX Global Index Group
April 24, 2012--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the launch of the NASDAQ Commodity Index Family, a broad and diverse representation of the commodities markets that provides investors with exposure across all major commodity sectors.
The commodity index family is available in five distinct roll versions to offer investors different investment strategies.
The NASDAQ Commodity Index Family is the latest offering from The NASDAQ OMX Global Index Group, a premier full-service index provider.
The index family consists of the primary benchmark — the NASDAQ Commodity Benchmark Index (NQCI) — a liquidity-based tradable index, as well as 10 sector and 33 single indexes. The five main sectors covered by the NASDAQ Commodity Index family are energy, industrial metals, precious metals, agriculture and livestock.
The family is designed to measure the performance of single commodities and sectors through the use of futures contracts on physical commodities.
"The NASDAQ Commodity Index Family is a broad and accurate representation of the commodity futures market," said John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "This new family of commodity indexes facilitates superior tracking, trading and investing opportunities. It is the latest example of our growing index offerings and reflects our mission to be the best full-service global index provider to our clients."
The commodity index family provides a broad way to track U.S. dollar denominated commodities traded on 10 U.S. and U.K. exchanges. The index family is available in five different roll versions to offer investors multiple choices of exposure and strategies.
The NASDAQ Commodity Index Family is calculated in U.S. dollars in excess and total return. Daily index values, weightings and historical data are available via the NASDAQ OMX Global Index Watch product and the NASDAQ OMX Global Index Data Service.
Source: NASDAQ OMX
