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SEC Shelves Measure to Protect Investors in Leveraged ETFs
October 28, 2020--Proposal requiring leveraged and inverse exchange-traded funds to vet investors needs further study, officials say
The Securities and Exchange Commission on Wednesday shelved a measure intended to protect investors who trade the shares of a class of exchange-traded funds it considers risky, saying it would review the issue later.
The SEC in November had proposed requiring broker-dealers and investment advisers to vet individual investors before approving them to trade the products, known as leveraged and inverse exchange-traded funds. Such funds use debt to double or triple the gains-and losses-of an underlying index and are..
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Source: wsj.com
US SEC opens door to more leveraged ETFs
October 28, 2020--The US Securities and Exchange Commission opened the door to more leveraged exchange traded funds on Wednesday as it passed new regulations governing the use of derivatives in the retail-friendly products.
The securities regulator, in a 3-2 vote, said ETF providers which abided by certain requirements could now offer products with up to 200 per cent leverage without seeking prior approval from the SEC.
Jay Clayton, the SEC chairman appointed by president Donald Trump in 2017, said the changes provided "both meaningful protections for investors and regulatory certainty for funds and their advisers".
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Source: technocodex.com
Goldman Sachs to merge five thematic ETFs
October 26, 2020--Goldman Sachs Asset Management is planning to re-organize five equity ETFs that collectively house around $300 million in assets under management into a single multi-thematic strategy.
The five ETFs were introduced on NYSE Arca in March 2019 and provide passive exposure to themes related to transformational changes in the global economy: data-driven world, finance reimagined, human evolution, manufacturing revolution, and new-age consumer.
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Source: etfstrategy.com
Impact Shares Adds Former NAACP Senior Director Marvin Owens as Chief Engagement Officer
October 26, 2020--The Rockefeller Foundation provides $3 million in operating capital to Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund platform on the market
Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund platform, is pleased to welcome Marvin Owens, former senior director of economic development at the National Association for the Advancement of Colored People (NAACP), to its team as Chief Engagement Officer.
Amid the ongoing fight for racial equality in the U.S., the Impact Shares NAACP Minority Empowerment ETF (NYSE: NACP) has come to the forefront as an important tool for investors to promote racial equity in the private sector.
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Source: Impact Shares
European financial institution ETFs lose out as traders flock to US counterparts
October 26, 2020--Trade traded fund traders are shunning European banks and flocking to their US counterparts, ignoring valuations which have plunged to their lowest in a long time.
The sector final month sank to its lowest degree on file because the Stoxx Europe 600 Banks index spiralled beneath its 1992 nadir. But cut price hunters are nonetheless skinny on the bottom.
US financial institution ETFs have loved web inflows each month since March as traders search to extend publicity to a sector buying and selling at 1.2 occasions e book worth and 16.2 occasions trailing earnings, in keeping with the S&P Monetary Choose Sector Index.
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Source: medtech.news
AdvisorShares Vice ETF to Transfer Listing to NYSE Arca, Change Ticker to VICE
October 25, 2020--October 13, 2020--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), today announced plans to transfer the listing of the AdvisorShares Vice ETF (Ticker: ACT) from NASDAQ to NYSE Arca effective on or about November 1, 2020.
The Fund's ticker symbol will change from ACT to VICE with the transfer listing. Shareholders in this fund will not be required to take any action as a result of this change.
"We look forward to bringing the AdvisorShares Vice ETF to NYSE Arca where most of our actively managed ETFs are listed"" said Dan Ahrens, chief operating officer of AdvisorShares and portfolio manager of the Vice ETF.
Franklin Templeton suffers heavy outflows forward of Legg Mason deal view more Institutional frenzy: CME becomes 2nd biggest Bitcoin futures market
On Oct. 10, Skew reported that the CME Bitcoin futures market's open interest rose sharply by 1,500 contracts. Since then, within three days, the price of BTC surged 9% to over $13,000. view more Threats to U.S. Treasury market liquidity still exist, Fed says view more Betterment Expands Socially Responsible Investment Offerings The expanded offerings are available to Betterment’s retail customers as well as Betterment for Advisors customers and Betterment for Business users, who are participants in the firm's 401(k) service. view more
Source: AdvisorShares
October 24, 2020--Franklin Templeton is on monitor to finish 2020 as one of many worst-selling retail asset managers after buyers pulled cash from its funds forward of its landmark takeover of rival Legg Mason.
The US group has suffered the very best year-to-date outflows of any fund home globally in 2020, bleeding a web $41.6bn, based on information firm Morningstar.
The figures, which embody cash market and trade traded funds, however exclude institutional mandates, make January to September this yr Franklin Templeton’s highest interval of outflows in 4 years. It misplaced $36.7bn final yr, $41.3bn in 2018 and $27.7bn in 2017.
Source: medtech.news
October 23, 2020--The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand.
The CME Bitcoin futures market overtook Binance Futures to become the second-biggest Bitcoin (BTC) futures exchange by open interest. The data shows that the institutional volume is rapidly gaining a larger share of the cryptocurrency market.
Source: cointelegraph.com
October 23, 2020--The U.S. Treasury market still runs the risk of abrupt freezes in liquidity like the one seen in March and April, as the COVID-19 pandemic roiled the financial system, a member of the Federal Reserve Bank of New York's Market Committee said on Friday.
The market shock in March, which helped drive yields across maturities to all-time lows, was "truly an exceptional event," Lorie Logan said in a speech to the Brookings-Chicago Booth Task Force on Financial Stability.
Source: reuters.com
October 22, 2020--Betterment for Advisors and other channels can access the new Climate and Social Impact portfolios.
In yet another sign of the growing interest in social responsible investing, Betterment is expanding its socially responsible investment offerings and putting them on equal footing with its core portfolio when investors open an account.
Source: thinkadvisor.com
