Americas ETP News
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Active funds found to outperform in bull markets
June 29, 2010--Active fund managers do outperform in many circumstances, including most bull markets, a study of 30 years of performance for $7,000bn worth of US mutual funds has found.
The study by FundQuest, which advises fund managers, compared 31,991 US-based mutual funds, including funds that failed, in 73 different categories as defined by Morningstar, to matching passive indices.
The study’s broadest finding – based on an analysis of five market cycles from January 1980 until February 2010 – was that after adjusting for risk and after fees, active management delivers superior returns in bull markets, but underperforms in bear markets. Active managers outperform by 0.66 per cent in bull markets, but underperformed by 0.68 per cent in bear markets.
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Source: FT.com
Aluminum ETF Girds For Launch
June 29, 2010--An exchange-traded fund based on aluminum could launch as soon as next month, according to a Bloomberg report.
Bloomberg reported that the CEO of United Co. Rusal, the worlds largest aluminum producer, told reporters that the ETF would launch next month, and could help support metal prices as a hedge against currency and commodity price fluctuations.
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Source: Forbes
US ETF assets down 5.8 pct in month ended May-ICI
June 29, 2010--Assets traded in the U.S.
exchange traded funds (ETFs) universe fell 5.8 percent in May
to $783 billion, monthly data issued by the Investment Company
Institute showed on Tuesday.
For the year ended May, however, ICI, the mutual fund
industry's trade group, said ETF assets grew by 34.6 percent or
$201.13 billion.
Equity ETF assets fell while bonds rose, the data showed.
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Source: Reuters
Vanguard plans broad expansion of index offerings
June 28, 2010-On June 24, 2010, Vanguard has announced plans to introduce 19 new index funds with ETF Shares. The firm will also launch ETF Shares of its flagship Vanguard® 500 Index Fund.
Included in this list are 15 new equity funds and an international real estate fund for institutional investors. Over the next year, these funds will provide institutions with equity portfolios benchmarked to a broader range of providers and with a new diversification tool through the international real estate fund.
The 16 funds and the share classes available for institutional investments are:
| Fund | Institutional Shares | Investor Shares | Signal Shares® |
|---|---|---|---|
| Vanguard S&P 500 Value Index Fund | 0.08% | ||
| Vanguard S&P 500 Growth Index Fund | 0.08% | ||
| Vanguard S&P Mid-Cap 400 Index Fund | 0.08% | ||
| Vanguard S&P Mid-Cap 400 Value Index Fund | 0.08% | ||
| Vanguard S&P Mid-Cap 400 Growth Index Fund | 0.08% | ||
| Vanguard S&P Small-Cap 600 Index Fund | 0.08% |
|
|
| Vanguard S&P Small-Cap 600 Value Index Fund | 0.08% | ||
| Vanguard S&P Small-Cap 600 Growth Index Fund | 0.08% | ||
| Vanguard Russell 1000 Index Fund | 0.08% | ||
| Vanguard Russell 1000 Value Index Fund | 0.08% | ||
| Vanguard Russell 1000 Growth Index Fund | 0.08% | ||
| Vanguard Russell 2000 Index Fund | 0.08% | ||
| Vanguard Russell 2000 Value Index Fund | 0.08% | ||
| Vanguard Russell 2000 Growth Index Fund | 0.08% | ||
| Vanguard Russell 3000 Index Fund | 0.08% | ||
| Vanguard Global ex-U.S. Real Estate Index Fund | 0.30% | 0.50% | 0.30% |
"We recognize that institutional investors have an affinity for certain benchmarks, and our goal is to offer them best-in-class funds based on a choice of leading index providers, including MSCI, FTSE, Russell, and S&P," said Vanguard CEO Bill McNabb. "Vanguard's focus has been on developing a full array of stock and bond funds to cover domestic and international markets and market segments. We are taking this logical next step to provide multiple options within the domestic stock markets and more choice for bond investors."
Vanguard is adding seven new equity funds offering exposure to value, growth, and blend segments of the U.S. stock market based on the large cap Russell 1000® Index and the small cap Russell 2000® Index series. We will also offer a broad market fund pegged to the Russell 3000® Index. In addition, Vanguard will complete its S&P lineup with eight new equity funds pegged to the growth and value segments of the S&P 500 Index and to the growth, value, and blend segments of the S&P MidCap 400 and SmallCap 600 Indexes.
The new international fund, Vanguard Global ex-U.S. Real Estate Index Fund, will be benchmarked to the S&P Global ex-U.S. Property Index.
"We believe that there is a compelling investment case to offer international real estate. This asset class has the potential to improve returns and dampen volatility for an investor's total investment portfolio," said Vanguard Chief Investment Officer Gus Sauter.
Source: Vanguard
U.S. Exchanges Said to Seek Broader Scope for Trading Curbs
June 28, 2010--U.S. stock exchanges will propose doubling the number of companies covered by a two-week-old test of trading curbs and expanding the program to include hundreds of exchange-traded funds, according to two people with direct knowledge of the matter.
NYSE Euronext and Nasdaq OMX Group Inc. will ask the Securities and Exchange Commission to broaden circuit breakers triggered by 10 percent moves to Russell 1000 Index companies from those in the Standard & Poor’s 500 Index, according to the people, who declined to be identified because the information isn’t public. More than 300 ETFs including the SPDR S&P 500 ETF Trust would be covered, one of the people said.
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Source: Bloomberg
Emerging Markets Week in Review -6/21/2010 - 6/25/2010
June 28, 2010--The Dow Jones Emerging Markets Composite Index declined 0.69% last week despite the PBOC's decision to remove the yuan's peg to the US dollar. Consumer Goods gained 0.12% as the only positive sector for the week and remains one of the best performing groups year to date.
Consumer Services and Industrials dropped 2.01% and 0.72% last week. This week, as 1Q10 comes to a close, market's will be looking to see how G20 leader's pledge to repair the damage from the debt crisis in Europe and what moves will be made to avoid another recession.
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Source: Emerging Global Advisors
Van Eck files with the SEC
June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for
Market Vectors Minor Metals ETF
view filing
Source: SEC.gov
Index IQ files registration with SEC
June 28, 2010---Index IQ has filed a Amendment No. 5, registration statement with the SEC for
IQ ALPHA Hedge Strategy Fund
view filing
Source: SEC.gov
Index IQ files with the SEC
June 28, 2010--Index IQ has filed a post-effective amendment, registration statement with the SEC for
IQ Hedge Multi-Strategy Tracker ETF
Cusip:45409B107
Ticker: QAI
IQ Hedge Macro Tracker ETF
Cusip:45409B206
Ticker:MCRO
view filing
Source: SEC.gov
Direxion files with the SEC
June 28, 2010--Direxion has filed a post-effective amendment No.12, registration statement with the SEC for
Direxion Daily S&P 500 Bull 3X Shares, Direxion Daily S&P 500 Bear 3X Shares, Direxion Daily Basic Materials Bull 3X Shares, Direxion Daily Basic Materials Bear 3X Shares, Direxion Daily Consumer Discretionary Bull 3X Shares, Direxion Daily Consumer Discretionary Bear 3X Shares, Direxion Daily Consumer Staples Bull 3X Shares
Direxion Daily Consumer Staples Bear 3X Shares, Direxion Daily Healthcare Bull 3X Shares, Direxion Daily Healthcare Bear 3X Shares, Direxion Daily Retail Bull 2X Shares, Direxion Daily Retail Bear 2X Shares, Direxion Daily Semiconductor Bull 3X Shares, Direxion Daily Semiconductor Bear 3X Shares, Direxion Daily Utilities Bull 3X Shares and Direxion Daily Utilities Bear 3X Shares
view filing
Source: SEC.gov
