Americas ETP News
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WisdomTree files with the SEC
July 26, 2011--WisdomTree has filed a post-effective amendment, registration statement with the SEC for the WisdomTree Germany Hedged Equity Fund.
view filing
Source: SEC.gov
iShares files with the SEC
July 26, 2011--iShares has filed a post-effective amendment, registraion statement with the SEC for the iShares MSCI Emerging Markets Small Cap Index Fund (EEMS).
view filing
Source: SEC.gov
Schwab files with the SEC
July 26, 2011--Charles Schwab has filed a post effective amendment, registration statement with the SEC for the Schwab U.S. Small-Cap Growth ETF(SCHJ)
Schwab U.S. Small-Cap Value ETF (SCHK) and
Schwab U.S. Dividend Equity ETF (SCHD)
view filing
Source: SEC.gov
Claymore files with the SEC
July 26, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim Shipping ETF (SEA).
view filing
Source: SEC.gov
Russell research explores “defensive equity” and whether the market is mispricing risk
Report challenges the presumption that less risky stocks deliver lower returns
July 26, 2011- Recent research from Russell Investments observes that the market doesn't seem to offer a premium to adequately compensate investors who choose to invest in riskier stocks as opposed to more stable ("defensive") stocks. The report outlines a substantial body of evidence suggesting that a return premium for riskier stocks does not exist.
The standard theory of how markets work says that investors should only take extra risk if they think they are going to be compensated for doing so," said Bob Collie, chief research strategist, Americas Institutional, and one of the research authors. "But there's scant evidence that riskier stocks systematically outperform their defensive counterparts."
As for the explanation, several possible causes have been put forward. "There's good reason to believe that the widespread use of market-relative benchmarking by mutual funds and institutional investors is one contributing factor," adds Collie. "That's too entrenched and useful a practice for us to believe that it's going to go away any time soon. So we may continue to see the defensive effect persist in the future."
Based on these findings, the authors argue for a re-think of how investors run their investment programs, including the mandates and benchmarks that are given to investment managers and how they approach equity portfolio construction.
view Defensive equity: Is the market mispricing risk?
Source: Russell Investments
US money market funds build liquidity
July 26, 2011--US money market funds are stockpiling cash in case Congress fails to raise the debt ceiling, distorting the short-term market for US government debt and raising borrowing costs for banks and other financial institutions.
While the funds will continue to hold US Treasuries in the event of a downgrade or default, they are building up liquidity and shunning certain securities due to fears that a failure to raise the debt ceiling could trigger client redemptions.
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Source: FT.com
Inflation fears take their toll in Brazil
July 26, 2011--Brazil is shaping up to be one of this year’s worst-performing equity markets. A toxic combination of rising inflation and political interference in the country’s biggest companies has hampered public offerings. But it has also opened up buying opportunities.
In spite of the country’s booming economy, the Bovespa stock index is trading at about a 14-month low and foreign investment in the market fell 70 per cent in the first half of the year, central bank data show. The exchange operator itself has seen its shares tumble 25 per cent in 2011.
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Source: FT.com
Brown Brothers Harriman Goes Live On Fidessa's Trading Platform - Robust And Flexible System To Support Global Trading And Future Growth
Robust and flexible system to support global trading and future growth
July 26, 2011--Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world's financial community, has today announced that Brown Brothers Harriman (BBH) has successfully gone live with Fidessa's US sellside
trading system on a Software as a Service (SaaS) basis.
BBH will also be employing Fidessa’s
fully integrated global trading service. By automating workflow and allowing BBH to consolidate a
number of existing systems, the implementation will yield significant operational efficiency benefits.
read more
Source: Fidessa
BlackRock Launches The iShares COLCAP Exchange Traded Fund In Colombia - Firm Brings The First ETF To Colombian Investors
July 26, 2011--BLACKROCK ,the largest asset manager in the world, officially introduced to the Colombian market its first Exchange Traded Fund, iShares COLCAP, which invests in the 20 most liquid and largest stocks of the Colombian Stock Exchange that comprise the COLCAP index. The ETF was developed by BlackRock under its iShares brand, with the participation of CitiTRUST as the Fund’s Management Company. The Fund is based on the COLCAP index, developed and managed by the BVC
Daniel Gamba, CEO of BlackRock Latin America and Iberia and representatives of CitiTRUST and BVC introduced iShares COLCAP to the Colombian market with a traditional bell ringing at the beginning of the trading day (WHERE) . "iShares COLCAP is the first ETF listed on the BVC which represents a great opportunity to invest through a single transaction in the Colombian stock market which is one of the strongest and fastest growing economies in Latin America," said Gamba. "This demonstrates BlackRock's serious commitment towards the development of the Latin American markets and in particular to the Colombian market. "
The iShares COLCAP, which began trading in Colombia on July 6 on the Stock Exchange of Colombia (BVC, for its acronym in Spanish), seeks investment results that correspond generally to the price and yield performance of the COLCAP index.
With iShares COLCAP, BlackRock continues its business in Latin America, where it already has iShares ETFs authorized in countries such as Brazil, Mexico, Peru and Chile.
Source: BlackRock
U.S. Regulators Seek Public Input for a Joint CFTC-SEC Study on International Swap Regulation
July 25, 2011--The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have approved for publication in the Federal Register a request for comment that is expected to assist in conducting a joint study on international swap regulation.
Section 719(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires that the CFTC and the SEC jointly study and then report to Congress on swap regulation and clearinghouse regulation in the United States, Asia, and Europe. The report to Congress must identify areas of regulation that are similar and other areas of regulation that could be harmonized. In addition, the report must identify major swap contracts, dealers, exchanges, clearinghouses, and regulators in each geographic area, and must describe the methods for clearing swaps and systems used for setting margin in each area.
Comments must be received on or before 60 days after publication in the Federal Register.
Source: SEC.gov
