Americas ETP News
If your looking for specific news, using the search function will narrow down the results
First Trust Lists September Series of Target Outcome Buffer ETFs Based on QQQ and EFA
September 20, 2021--Upside caps announced for QSPT and YSEP, which seek a balance of upside performance potential with a downside buffer
The funds join First Trust's lineup of fast-growing actively managed Buffer ETFs.
First Trust Advisors L.P. ("First Trust") a leading exchange-traded fund ("ETF") provider and asset manager announced today that it has expanded its suite of Target Outcome ETFs(R) with Buffer Strategies based on Invesco QQQ TrustSM Series 1 ("QQQ") and iShares MSCI EAFE ETF ("EFA"). These actively managed ETFs use FLexible EXchange(R) Options ("FLEX Options") to seek to provide targeted market exposure to underlying ETFs ("reference assets") that are based on market indexes, while providing a defined downside buffer level, over a specific Target Outcome Period, which First Trust believes removes some of the uncertainty associated with investing.
view more
Source: First Trust
Franklin kept initial filing for gold ETF secret
September 20, 2021--The fund has been in the works since at least the spring even though no public records exist
Franklin Templeton has been quietly working with regulators to launch an ETF to rival those of State Street and iShares, with its plans for the product kept secret until this month.
Late last month, NYSE Arca asked the Securities and Exchange Commission to list the Franklin Responsibly Sourced Gold ETF on its exchange, according to a September 1 notice on the SEC's website. The SEC's approval via a so-called 19b-4 request is necessary for commodity-based ETFs such as Franklin's to launch on the public market.
view more
Source: ft.com
Following SEC notice, Coinbase abandons plan for crypto lending program
September 20, 2021--The exchange hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring its Lend product to the market.
United States-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program.
In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring the crypto lending product to the market. According to the exchange, "hundreds of thousands of customers from across the country" had already signed up for Lend, a program that aimed at offering 4% annual yield returns on deposits of USD Coin (USDC).
view more
Source: cointelegraph.com
Wall Street trading groups step up incursion into crypto markets
September 17, 2021--Jane Street and Jump Trading among financial companies that are boosting their digital asset units
Several of Wall Street's biggest trading companies have unveiled plans to stake out territory in cryptocurrency markets, opening a new front in their battle to win lucrative business from institutional investors.
Jump Trading, GTS and Jane Street, among the largest players in the US equity market, are stepping up their trading in digital assets after years of secrecy surrounding their early forays into these markets.
view more
Source: ft.com
State Street-Invesco deal may leave both in limbo
September 17, 2021--Mergers between asset managers are a pit stop in the race to the bottom. Fund manager Invesco is in talks to merge with State Street's asset management arm, the Wall Street Journal reported on Thursday. A tie-up looks valuable on paper, but still leaves both companies in limbo.
Asset managers are struggling to distinguish themselves as passive funds commoditize their business. Last year, the average passively managed product charged just 0.1%, one sixth the fee of an active exchange-traded fund, according to data from Morningstar.
view more
Source: reuters.com
Goldman Sachs Asset Management Announces Launch of Goldman Sachs Future Tech Leaders Equity Exchange-Traded Fund
September 16, 2021--Goldman Sachs Asset Management today announced the launch of the Goldman Sachs Future Tech Leaders Equity ETF ("GTEK" or the "Fund").
GTEK is a fully transparent, actively managed equity ETF that will generally invest in listed technology companies with market capitalizations of less than $100 billion, across both developed and emerging markets. Goldman Sachs intends to invest in the Fund alongside its clients.
"With almost a quarter of S&P 500 market capitalization in the top 1% of stocks, many investors are overexposed to mature US mega cap technology companies," said Katie Koch, co-head of the Fundamental Equity business within Goldman Sachs Asset Management.
view more
Source: Goldman Sachs Asset Management
Senate bill could spell end to ETF tax advantage
September 16, 2021--The proposed change to legislation would help fund Joe Biden's $3.5bn budget package
A proposal has been drafted to change the law eliminating exchange traded funds' chief tax advantage in the US by levying taxes on in-kind redemptions.
The bill, floated last week in the Senate by finance committee chair Ron Wyden, if passed, would no longer allow ETFs and other regulated investment companies to be exempt from recognising gains when distributing property in kind to a redeeming shareholder- something ETFs do routinely when managing their securities baskets.
view more
Source: ft.com
ETF Giants Push Back Against Senate Democrat Who Wants to Take Away Tax Break
September 16, 2021--Exchange-traded funds are wildly popular, and the main reason why is taxes-they pay a lot less. But a key Senate Democrat wants to change that, and big money managers are fighting back.
Senate Finance Committee Chairman Ron Wyden, D-Ore., is proposing to close what he describes as a loophole, which lets ETFs pay redeeming investors with securities instead of cash-what the $6.8 trillion ETF market calls in-kind transactions. Those transactions trigger fewer capital-gain taxes.
view more
Source: barrons.com
Treasury International Capital Data for July
September 16, 2021--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for July 2021. The next release, which will report on data for August 2021, is scheduled for October 18, 2021.
The sum total in July of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $126.0 billion.
Of this, net foreign private inflows were $127.7 billion, and net foreign official outflows were $1.7 billion.
Foreign residents decreased their holdings of long-term U.S. securities in July; net sales were $14.4 billion. Net sales by private foreign investors were $23.3 billion, while net purchases by foreign official institutions were $8.9 billion.
U.S. residents decreased their holdings of long-term foreign securities, with net purchases of $16.4 billion.
view more
Source: treasury.gov
Hartford Schroders Commodity Strategy ETF is Hartford Funds' seventh actively managed ETF offering
September 15, 2021--Hartford Funds today announced the launch of its first commodity-focused exchange-traded fund ("ETF"), Hartford Schroders Commodity Strategy ETF (NYSE: HCOM), which will be sub-advised by Schroder Investment Management North America Inc. and Schroder Investment Management North America Ltd (collectively, "Schroders"). HCOM seeks long-term total return by investing in a range of commodity-related instruments.
The actively managed Fund's performance benchmark will be the Bloomberg Commodity Total Return Index.
"Hartford Schroders Commodity Strategy ETF allows us to offer our clients exposure to an alternative asset class that we feel is ripe for opportunity in the current market environment," said Vernon Meyer, Chief Investment Officer at Hartford Funds. "This product further demonstrates our commitment to providing both our existing and prospective clients diverse, long-term investing opportunities that can help them achieve their investment goals."
view more
Source: Hartford Funds
