Americas ETP News
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CBO's Model and Projections of U.S. International Investment Holdings and Income Flows: Working Paper 2021-10
August 27, 2021--Projections from CBO's international financial forecasting model show the U.S. net international investment position rising modestly over the 10-year forecast period. Net international income is expected to rise as a share of GDP through 2023 before declining through 2031.
Summary
Since 1982, growth in the value of foreign investments in the United States has exceeded growth in the value of U.S. investments abroad and, as a result, the U.S. net international investment position has been negative and trending lower.
Even though the value of foreign investments in the United States has exceeded the value of U.S. investments abroad, the total income earned by U.S. investors on their foreign asset holdings has historically exceeded the total income earned by foreign investors on their U.S. holdings. The United States is able to earn positive net international income despite its negative net international investment position because the average yield on U.S. investments abroad has exceeded the average yield on foreign investments in the United States.
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Source: CBO (Congressional Budget Office)
Pressure builds on active funds fees after ETF price war
August 27, 2021--Overall expense ratios across all funds have halved over the past two decades
Fierce price competition between ETF providers who have knocked out fees for passive products is currently having a significant impact on actively managed funds, according to a new Morningstar study.
According to an annual survey, the average expense ratio consists of management fees and other ongoing costs to own a fund, from 0.93% to 0.41% of total investment....
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Source: FT.com
Regulators urge banks to assess risk in teaming with fintechs
August 27, 2021--Federal regulators on Friday issued new guidance to help community banks assess risk as they increasingly consider partnering with financial technology companies to meet customers' evolving digital preferences.
The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency released a guide suggesting that banks consider six key pillars of due diligence when evaluating potential fintech partners. Banks should assess a fintech's: business experience and qualifications; financial condition; compliance with laws and regulations; risk management and control processes; information security; and operational resilience, according to the guide.
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Source: americanbanker.com
Actively Managed Sector ETF Strategy Launched on NYSE
August 26, 2021--Seeks Capital Appreciation with a Goal to Generate Alpha Against Traditional U.S. Large Cap Benchmarks
The Revere Sector Opportunity ETF (NYSE: RSPY) began trading on the New York Stock Exchange on August 24, 2021.
"Using our proprietary process overlayed across the eleven sectors of the S&P 500 Index, we identify expected leadership through technical and macro analysis as well as options intelligence", commented Scott Fullman, Portfolio Manager and Managing Director, Revere Wealth Management LLC ("Revere"), who serves as the Sub-Adviser to RSPY.
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Source: Revere Securities LLC
US slightly upgrades GDP estimate for last quarter to 6.6%
August 26, 2021--The U.S. economy grew at a robust 6.6% annual rate last quarter, slightly faster than previously estimated, the government said Thursday in a report that pointed to a sustained consumer-led rebound from the pandemic recession. But worries are growing that the delta variant of the coronavirus is beginning to cause a slowdown.
The report from the Commerce Department estimated that the nation's gross domestic product- its total output of goods and services-accelerated slightly in the April-June quarter from the 6.5% it had initially reported last month. The economy's expansion last quarter followed a solid 6.3% annual growth rate in the January-March period.
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Source: apnews.com
Global X Launches Six Options-based ETFs Focusing on Income and Risk Management Outcomes
August 26, 2021--Global X ETFs, the New York-based provider of exchange traded funds (ETFs), today announced the launch of three pairs of ETFs that employ options-based strategies in an effort to help investors achieve specific outcomes, such as generating income in a low yield environment and managing downside risks amid bouts of elevated volatility.
Each pair of funds includes both a Nasdaq 100 and S&P 500 Index-based version.
Fund Name: Global X Nasdaq 100(R) Risk Managed Income ETF
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Source: Global X
Capital Group joins rivals in rush to launch active ETFs
August 25, 2021--US investment house opts for fully transparent structure made popular by Cathie Wood's Ark funds.
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Source: FT.com
U.S. Authorities Probing Deutsche Bank's DWS Over Sustainability Claims
August 25, 2021--Investigation by Justice Department, SEC follow allegations from ex-sustainability chief that firm overstated efforts on environment, other issues
U.S. authorities are investigating Deutsche Bank AG's asset-management arm, DWS Group, after the firm's former head of sustainability said it overstated how much it used sustainable investing criteria to manage its assets, according to people familiar with the matter.
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Source: wsj.com
The Future Fund Launches New Active ETF
August 24, 2021--The Future Fund Active ETF (FFND) offers the opportunity to invest in innovative businesses that change the world.
The Future Fund LLC, an SEC-registered investment advisor, launched its first ETF, The Future Fund Active ETF. The fund, ticker FFND, begins trading today, and seeks to provide capital appreciation.
Gary Black, managing partner, and David Kalis, CFA, partner, have teamed up for a second time to bring the ETF to investors. Each has held portfolio management and investment research positions at some of the most well-known firms in the industry. Together, they have more than 50 years of experience managing portfolios for clients.
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Source: The Future Fund LLC
Tiny Issuer Thinks It Just Got the Edge in Race for Bitcoin ETF
August 24, 2021--Valkyrie Investments reckons it just vaulted to the front of the queue for approval from the Securities and Exchange Commission for the first U.S. Bitcoin exchange-traded fund thanks to a quirk that allows smaller issuers to file confidentially for new offerings.
The Nashville, Tennessee-based firm two months ago sought regulatory permission for a futures-based fund, likely the first company to do so before an onslaught by others following positive comments on the structure by the SEC. The request was revealed Tuesday after the Nasdaq exchange, where the Valkyrie XBTO Bitcoin Futures Fund would be listed, filed a response to the SEC.
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Source: bloomberg.com
