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ETFS Marketing LLC Expands Sales Team and Appoints Patrick Carter
September 8, 2010--As part of aggressive US business expansion plans and continued growth in the US physically backed precious metal suite of products (SGOL, SIVR, PPLT & PALL), ETFS Marketing LLC, has appointed Patrick Carter to the US Sales team.
Patrick will focus on expanding the firm's distribution capabilities in California and West Coast markets. His primary responsibilities will be focused on institutional clients and national accounts. Patrick Carter has over 20 years experience in the financial services industry. His broad background includes a variety of roles spanning both the institutional and wealth management markets. Most recently, Patrick was with Dimensional Fund Advisors where he led efforts to grow assets under management in the qualified retirement plan area by developing business sources in the consultant and Registered Investment Advisors (RIA's) channels. Patrick also spent 13 years with Merrill Lynch promoting various products through internal Merrill Lynch broker channels as well as directly to institutional investors.
For more information please contact the US marketing agent, visit our website: www.etfsecurities.com
Source: ETFS Marketing
Advisors Asset Management (AAM) Announces Collaboration with WisdomTree to Add Firm's Exchange Traded Funds (ETFs) to Product Platform
September 8, 2010--Advisors Asset Management, Inc. (AAM), a leading investment solutions provider, today announced a collaboration with WisdomTree Investments, Inc. (WSDT.PK) to serve as the external marketing agent for the WisdomTree ETFs in the Independent Broker-Dealer channel.
WisdomTree, a leading ETF sponsor and index developer, utilizes a unique, rules-based methodology to weight companies chosen for their ETFs by a measure of fundamental value, instead of just stock price alone. WisdomTree ETFs track indexes designed to deliver the return of stock markets weighted by income streams – either the cash dividends companies pay or the earnings they have produced. They believe this approach to investing corrects a flaw in capitalization weighting that plagues most of today's ETFs – and offers investors the potential for higher returns, with less risk.
“We’re very pleased to partner with WisdomTree, a highly respected leader in the ETF investment space,” said Andrew S. Williams, President of AAM. “WisdomTree continues to be a major innovative force in the ETF industry and we believe they will offer immense value to our platform and our clients.”
The addition of WisdomTree to AAM’s circle of strategic partners is the latest alliance forged with large, reputable asset managers enabling AAM to present independent advisors with a broader array of solutions that will best align with their clients’ investment objectives.
“We are pleased to team up with AAM to enhance our efforts in the Independent Broker-Dealer channel,” said Bruce Lavine, WisdomTree’s President & COO. “We believe AAM’s national presence and strong background will provide WisdomTree valuable additional reach into an important category of investment professionals.”
Source: Advisors Asset Management (AAM)/Wisdom Tree
CFTC Seeks Public Comment on Proposed Exemptions for Operators of Commodity ETFs
Septmber 8, 2010--– The Commodity Futures Trading Commission (CFTC) announced today the publication in the Federal Register of proposed regulations that would provide certain exemptions to commodity pool operators (CPOs) where units of participation in their commodity pools are both sold in a registered public offering under the Securities Act of 1933 and listed for trading on a national securities exchange.
Under proposed amendments to Regulation 4.12, the registered CPO of such a pool (a Commodity ETF) would be able to claim exemption from certain disclosure, reporting and recordkeeping requirements under CFTC regulations, based in part on substituted compliance with corresponding Federal securities law requirements. Specifically, while they would remain obligated to provide the same disclosure information, make the same periodic reports and keep the same books and records as they are currently required to, they would not have to:
Obtain a signed acknowledgment of receipt for the Disclosure Document, if the Disclosure Document is made readily accessible on the CPO’s Internet website and prospective participants are informed of this fact. Deliver monthly Account Statements, if the required information and certification are readily available on the CPO’s website and the Disclosure Document and selling broker-dealers clearly inform pool participants of that availability. Keep all required books and records at the CPO’s main business address, if the alternate recordkeeper is the pool’s custodian, distributor or similar service provider, and the alternate recordkeeper agrees to provide ready access to pool participants, CFTC representatives and other authorized persons.
Under proposed amendments to Regulation 4.13, where a particular Commodity ETF is required under the Sarbanes-Oxley Act of 2002 and exchange listing requirements to have an audit committee composed of independent directors or trustees, and the independent directors or trustees who comprise the audit committee have that as their only purpose for serving as directors or trustees, the proposed amendments would make exemption from CPO registration available for them.
Exemption under the proposed regulations would be claimed by filing a notice with the National Futures Association.
Source: CFTC.gov
Deutsche Bank Global Equity Index & ETF Research : US ETP Market Weekly Review
September 7, 2010--New Listings and Delistings
There was one new ETF listed during the last week. iShares launched a fund tracking the MSCI New Zealand Investable Market Index, becoming the first fund to offer exclusive exposure to New Zealand’s market in the US. The trading venue of choice was NYSE Arca
Grail Advisors liquidated two of the active funds (RPQ, RFF) offered through a partnership with River Park, although the funds performed well when compared against their benchmarks, they failed to attract the interest of investors in terms of assets (both below $3 mm AUM).
Net Cashflows
Total ETP inflows in the US added up to $2.7 bn during the previous week. Equity and Fixed Income ETPs had inflows of $1.8 bn and $1.0 bn, respectively. Commodity and Currency ETPs, on the other hand, experienced outflows of $44 mm and $47 mm, respectively.
Within Equity ETPs, US Sector ETPs received the largest inflows ($1.5 bn) followed by Mid Cap ETPs, while Leveraged ETPs saw the largest outflows ($334 mm).
The Fixed Income ETPs inflows were led by Corporates ETPs ($792 mm), while Sovereign ETPs recorded the largest outflows ($108 mm).
Commodity ETPs experienced another quiet week in terms of flows ($44 mm overall), most of the flows were around or below $100 mm either way.
Turnover
Avg. Daily Turnover remained at about the same level and totaled $61 bn at the end of the week.
Assets Under Management (AUM)
US ETPs AUM rose by 3.0%, driven by a positive week in the US equity market of 3.75% as measured by the S&P 500 Index, totaling $837 bn. Among all asset classes, Fixed Income has accumulated the largest increase in AUM with $72 bn YTD.
To request a copy of the report
Source: Deutsche Bank Global Equity Index & ETF Research
NYSE Euronext And APX To Establish NYSE Blue, A Joint Venture Targeting Global Environmental Markets
NYSE Euronext will contribute its ownership in BlueNext in return for a majority interest in the joint venture;
APX, a leading provider of operational infrastructure and services for the environmental and energy markets, will contribute its business in return for a minority interest in the venture;
NYSE Blue will focus on environmental and sustainable energy initiatives, and will further NYSE Euronext’s efforts to increase its presence in environmental markets globally while attracting new partners and customers.
September 7, 2010-- NYSE Euronext (NYX) today announced plans to create NYSE Blue™, , a joint venture that will focus exclusively on environmental and sustainable energy markets.
NYSE Blue will include NYSE Euronext’s existing investment in BlueNext, the world’s leading spot market in carbon credits, and APX, Inc., a leading provider of regulatory infrastructure and services for the environmental and sustainable energy markets. NYSE Euronext will be a majority owner of NYSE Blue and will consolidate its results. Shareholders of APX, which include Goldman Sachs, MissionPoint Capital Partners, and ONSET Ventures, will take a minority stake in NYSE Blue in return for their shares in APX. Subject to customary closing conditions, including APX shareholder approval and regulatory approvals, the APX transaction is expected to close by the end of 2010.
NYSE Blue will provide a broad offering of services and solutions including integrated pre-trade and post-trade platforms, environmental registry services, a front-end solution for accessing the markets and managing environmental portfolios, environmental markets reference data, and the BlueNext trading platform. NYSE Blue will expand globally with a focus on North America and Asia. Upon closing of the transaction, Brian Storms, Chairman and CEO of APX, will become CEO of NYSE Blue.
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Source: NYSE Euronext
SEC Sets Field Hearings on State of Municipal Securities Markets
First Hearing Scheduled for San Francisco September 21
September 7, 2010--The Securities and Exchange Commission announced today that it will launch a series of field hearings to examine the municipal securities markets, starting in San Francisco on September 21. Topics will include disclosure and transparency, credit ratings, and internal controls.
Among participants will be California State Treasurer Bill Lockyer, Washington State Treasurer James McIntire, and Stanley Keller, Independent Consultant and Monitor of the City of San Diego. A panel of investors, both individuals and institutions, will also share their experiences in this market.
"Today's investors hold about $2.8 trillion of municipal debt," SEC Chairman Mary L. Schapiro noted. "This is a critical market that touches every aspect of our lives, from the water that we drink to the roads upon which we drive. But for the market to continue to serve our communities, investors in municipal securities must be confident that they are getting the information necessary for knowledgeable decisions, at the time and in a form that they need it."
read more
Source: SEC.gov
Teucrium files with the SEC
September 7, 2010--Teucrium Commodity Trust has filed a Amendment No. 1 to Form S-1 for
Teucrium Natural Gas Fund
view filing
Source: SEC.gov
Teucrium files with the SEC
September 7, 2010-Teucrium Commodity Trust has filed a Amendment No. 1
to Form S-1 for
Teucrium WTI Crude Oil Fund.
view filing
Source: SEC.gov
Vanguard files with the SEC
September 7, 2010-Vanguard has filed a post-effective amendment, registration statement with the SEC for
Vanguard S&P 500 Value Index Fund - ETF Shares (VOOV)
Vanguard S&P 500 Growth Index Fund - ETF Shares (VOOG)
Vanguard S&P Mid-Cap 400 Index Fund - ETF Shares (IVOO)
Vanguard S&P Mid-Cap 400 Value Index Fund - ETF Shares (IVOV)
Vanguard S&P Mid-Cap 400 Growth Index Fund - ETF Shares (IVOG)
Vanguard S&P Small-Cap 600 Index Fund - ETF Shares (VIOO)
Vanguard S&P Small-Cap 600 Value Index Fund - ETF Shares (VIOV)
Vanguard S&P Small-Cap 600 Growth Index Fund - ETF Shares (VIOG)
view filing
Source: SEC.gov
Vanguard files with the SEC
September 7, 2010--Vanguard has filed a post-effective amendment, registration statement with the SEC for
Vanguard S&P 500 ETF
view filing
Source: SEC.gov