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Fidelity adds 5 iShares ETFs to free trading program
February 16, 2011-- Fidelity Investments added five exchange-traded funds to its free ETF trading program, including funds covering high-yield bonds, dividend stocks and real estate
Overall, Fidelity now offers its brokerage customers free trading on 30 ETFs, all managed by BlackRock's iShares unit, up from 25 when the partnership was begun a year ago, the Boston-based firm said in a release on Wednesday.
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Source: Reuters
First Trust Advisors L.P. Announces ETF Assets Now Exceed $6 Billion and the Proposed Launch of the Industry’s First Smartphone ETF
February 16, 2011--First Trust Advisors L.P. (“FTA”) announced today that aggregate assets under management for the exchange-traded funds advised by FTA now exceed $6 billion. FTA launched its first exchange-traded fund in September of 2005 and has since grown its product line to include a total of 44 ETFs covering a broad range of equity asset classes and high growth market segments.
“Reaching $6 billion assets under management for ETFs is a very exciting milestone,” said Robert F. Carey, CFA, and Chief Investment Officer of First Trust. “At First Trust, we remain focused on developing products that provide investors with targeted, efficient exposure to specialized segments of the market.”
In addition, FTA expects to launch the industry’s first Smartphone ETF on February 18, 2011. The First Trust NASDAQ CEA Smartphone Index Fund is expected to be listed on The NASDAQ Stock Market® under the ticker symbol FONE. The Fund provides a way to gain exposure to various companies involved in all aspects of the smartphone value chain including hardware manufacturers, operating system providers, chip makers, software manufacturers and service providers. The Fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called the NASDAQ OMX CEA Smartphone IndexSM.
“First Trust is extremely pleased to launch another pioneering exchange-traded fund,” said Mr. Carey. “We continually evaluate opportunities to broaden the First Trust family of ETFs, and FONE will enhance our unique specialty sector offerings.”
First Trust files with the SEC
February 16, 2011--First Trust has filed a post-effective amendment, registration statement with the SEC.
This Registration Statement relates solely to First Trust BICK Index Fund, First Trust Dow Jones Global Select Dividend Index Fund, First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund, First Trust ISE Global Copper Index Fund, First Trust ISE Global Engineering and Construction Index Fund, First Trust ISE Global Platinum Index Fund, First Trust ISE Global Wind Energy Index Fund, First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund and First Trust STOXX® European Select Dividend Index Fund, each a series of the Registrant.
view filing
Source: SEC.gov
ProShares files with the SEC
February 16, 2011--ProShares has filed a post-effective amendment, registration statement with the SEC.
This post-effective amendment relates only to the following series of ProShares Trust: ProShares Ultra TIPS and ProShares UltraShort TIPS.
view filing
Source: SEC.gov
Global X files with the SEC
February 16, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for
Global X FTSE Andean 40 ETF
Global X FTSE ASEAN 40 ETF
Global X S&P/TSX Venture Canada ETF
Global X Next 11 ETF
view filing
Source: SEC.gov
Fed raises growth expectations for 2011
Minutes of the Federal Reserve's most recent meeting reveal moderate improvement in officials' outlook for GDP growth, and continued worries about the sluggish job market.
February 16, 2011--The Federal Reserve moderately raised its projections for economic growth this year amid the recent surge in consumer spending, but central bank officials continued to lament the slow pace of improvement in the job market.
The Fed's latest economic outlook, released Wednesday with the minutes of its last policy meeting in late January, shows U.S. economic output growing 3.4% to 3.9% this year. That's slightly better than its last projections in November, when most Fed officials saw gross domestic product increasing 3% to 3.6%.
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Source: Los Angeles Times
Federal Open Market Committee-Summary of Economic Projections
February 16, 2011--In conjunction with the January 27-28, 2009 FOMC meeting, the members of the Board of Governors and the presidents of the Federal Reserve Banks, all of whom participate in deliberations of the FOMC, provided projections for economic growth, unemployment, and inflation in 2009, 2010, 2011, and over the longer run. Projections were based on information available through the conclusion of the meeting, on each participant's assumptions regarding a range of factors likely to affect economic outcomes, and on his or her assessment of appropriate monetary policy. "Appropriate monetary policy" is defined as the future policy that, based on current information, is deemed most likely to foster outcomes for economic activity and inflation that best satisfy the participant's interpretation of the Federal Reserve's dual objectives of maximum employment and price stability. Longer-run projections represent each participant's assessment of the rate to which each variable would be expected to converge over time under appropriate monetary policy and in the absence of further shocks.
FOMC participants viewed the outlook for economic activity and inflation as having weakened significantly since last October, when their last projections were made. As indicated in Table 1 and depicted in Figure 1, participants projected that real GDP would contract this year, that the unemployment rate would increase substantially, and that consumer price inflation would be significantly lower than in recent years. Given the strength of the forces currently weighing on the economy, participants generally expected that the recovery would be unusually gradual and prolonged: All participants anticipated that unemployment would remain substantially above its longer-run sustainable rate at the end of 2011, even absent further economic shocks; a few indicated that more than five to six years would be needed for the economy to converge to a longer-run path characterized by sustainable rates of output growth and unemployment and by an appropriate rate of inflation. Participants generally judged that their projections for both economic activity and inflation were subject to a degree of uncertainty exceeding historical norms. Nearly all participants viewed the risks to the growth outlook as skewed to the downside, and all participants saw the risks to the inflation outlook as either balanced or tilted to the downside.
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Source: FOMC
Minutes of the Federal Open Market Committee, January 25-26, 2011
February 16, 2011--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 25-26, 2011. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the January 25-26, 2011 meeting is also included as an addendum to these minutes.
The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. Summaries of economic projections are released on an approximately quarterly schedule. The descriptions of economic and financial conditions contained in these minutes and in the Summary of Economic Projections are based solely on the information that was available to the Committee at the time of the meeting.
view minutes
Source: Federal Reserve Board
First Asean-focused ETF launched
February 16, 2011--A New York fund manager will today launch the world’s first exchange-traded fund focused on the Asean region, reflecting what some people see as the emergence of a new asset class in developing Asia.
Global X Funds, which runs ETFs tracking the Nordic and Andean regions, says the launch reflects increasing institutional interest in the Association of Southeast Asian Nations, a fast growing 10 country organisation that is rapidly moving towards greater economic integration.
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Source: FT.com
Invesco PowerShares and Select Sector SPDRs Cooperate to Differentiate Their Respective Sector ETF Lineups
February 16, 2011--Invesco PowerShares and Select Sector SPDRs announced today that a settlement has been reached under which Invesco PowerShares will voluntarily change the ticker symbols of its nine S&P SmallCap Sector ETFs. The changes are aimed at making the PowerShares S&P SmallCap Sector ETF tickers more distinguishable from the Select Sector SPDR tickers.
The PowerShares SmallCap Sector ETFs will begin trading under the new tickers in late March, 2011; all other attributes of the products will remain unchanged. The new tickers are as follows:
| Sector | Old Ticker | New Ticker | |
| Consumer Discretionary | XLYS | PSCD | |
| Consumer Staples | XLPS | PSCC | |
| Energy | XLES | PSCE | |
| Financials | XLFS | PSCF | |
| Health Care | XLVS | PSCH | |
| Industrials | XLIS | PSCI | |
| Information Technology | XLKS | PSCT | |
| Materials | XLBS | PSCM | |
| Utilities & Telecom Services | XLUS | PSCU |
"ETFs have proven to be an extremely valuable tool for sector investing, as indicated by the investor interest in the sector ETFs of both Invesco PowerShares and Select Sector SPDRs," noted Ben Fulton, Invesco PowerShares managing director of global ETFs.
"Our intent, when we selected the original tickers was not to confuse, but simply to make it easier for S&P Sector investors to identify the tickers of the new Small Cap S&P Sector ETFs. We have worked closely with the Select Sector SPDR Board and understand their perspective on the matter. We were amenable to their proposal because the PowerShares S&P Small Cap Sectors have filled a significant gap in the market and have been very well received by investors," added Fulton.
"Both parties agree that in the interests of investors, the best course of action is to work together to make the changes," noted Dan Dolan of Select Sector SPDRs.
"We appreciate Invesco PowerShares' willingness to work with Select Sector SPDRs and are eager to move ahead as we continue to provide investors powerful ways to express their investment convictions on sectors of the U.S. stock market," added Dolan.
The new tickers on the PowerShares SmallCap Sector ETFs and on their intraday NAVs will go into effect before the end of March, 2011. The tickers of the fund's underlying indexes will remain the same. The funds will maintain their listing on the NASDAQ.
Invesco PowerShares is part of Invesco Ltd., a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Source: Invesco PowerShares Capital Management LLC
