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First Trust Expands its ETF Lineup with Active Factor ETFs
December 4, 2019--ETFs that deploy a systematic, active strategy targeting four main factor exposures
First Trust Advisors L.P. ("First Trust") a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched three actively managed ETFs: the First Trust Active Factor Large Cap ETF (NYSE Arca: AFLG), the First Trust Active Factor Mid Cap ETF (NYSE Arca: AFMC) and the First Trust Active Factor Small Cap ETF (NYSE Arca: AFSM) (collectively, "the funds").
The funds seek to provide capital appreciation by investing at least 80% of their net assets (including investment borrowings) in equity securities. The funds will principally invest in the common stocks of U.S. companies that are listed and traded on a U.S. national securities exchange.
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Source: First Trust
Fidelity's head of $2.8tn asset management arm to retire
December 3, 2019--The head of Fidelity's $2.8tn asset management division is retiring from the Boston investment group after just a year in the job, to be replaced.
Steve Neff to be replaced by head of global asset management Bart Grenier
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Source: FT.com
Guinness Atkinson Asset Management, Inc., files with the SEC
November 29, 2019--Guinness Atkinson Asset Management, Inc. has filed a =n application for exemptive relief with the SEC.
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Source: SEC.gov
What the Charles Schwab-TD Ameritrade acquisition means
November 26, 2019--In our capitalist system, the supposed purposes of financial markets are twofold: To coordinate resources, getting them to their most productive economic uses, and to provide corporate governance via the votes that come with stock ownership. By trading assets and pursuing personal profit, investors on financial markets are supposed to power both goals.
This is because trading is presumably happening with some kind of strategy and intent: human beings investigate companies and industries and make their trades accordingly-or they rely on other people who specialize in giving that advice. That's why brokerage giants like Charles Schwab and the somewhat-less-gigantic TD Ameritrade traditionally provided their customers with financial advisers as a core part of their business.
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Source: theweek.com
Charles Schwab to Buy TD Ameritrade as Free Trading Takes Over
November 25, 2019--The merger would create a brokerage giant with roughly $5 trillion in assets as the industry copes with zero commissions on stock trades.
Charles Schwab, which helped pioneer discount investing in the 1970s, said Monday that it would acquire TD Ameritrade for $26 billion, a deal that underscores the dramatic changes in the business of helping people manage their money.
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Source: NY Times
Mexican Economy Stagnated in Third Quarter
November 25, 2019--Economy widely expected to show little or no growth in all of 2019
Mexico's economic activity was flat in the third quarter following three quarters of negative output, putting the economy on track for its worst yearly performance in a decade.
Gross domestic product, which measures output of goods and services, was unchanged from the second quarter in seasonally adjusted terms, the National Statistics Institute said Monday.
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Source: wsj.com
U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds
November 25, 2019--The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds to introduce some safeguards for more risky products and increase competition.
The proposal from the Securities and Exchange Commission (SEC), which is subject to public consultation, would address concerns over the risks posed by so-called inverse and leveraged exchange traded funds (ETF), after some products experienced heavy losses during a spike in volatility in February 2018 subsequently dubbed "volmageddon."
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Source: Reuters
U.S. Dollar Increasingly Strong Against the Euro
November 22, 2019--After going through a bit of soft phase at the beginning of 2018, the U.S. dollar has gained quite a bit of value opposite the Euro. Most recently, US$1 was buying 0.9 Euros.
This trend is mirrored with many other global currencies and the currencies of U.S. major trade partners.
The strength of the dollar has advantages (namely cheaper imports) but there have been many critical of the strong dollar, including U.S. President Donald Trump. Trump said repeatedly that he would support a FED policy weakening the dollar, because it would aid U.S. companies doing business abroad. Currently, businesses who have to convert foreign earnings back into dollars are getting out less and are therefore potentially less competitive.
view more Jim Ross, SPDR Chairman and ETF Innovator, to Retire view more Charles Schwab in advanced talks to buy TD Ameritrade: source view more
You will find more infographics at Statista
Source: Statista
November 21, 2019--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), announced today that Jim Ross, chairman, Global SPDR, will be retiring from the firm at the end of March 2020 after a distinguished 27-year career.
Ross, who joined State Street in 1992, was instrumental in creating, developing and bringing to market many of the world’s first ETFs, earning him the moniker of the "godfather of ETFs." The product grew from inception in 1993 when SPY was launched on the American Stock Exchange, to an industry that today stands at almost $6 trillion worldwide and is still one of the fastest-growing investment products in the market.
Source: State Street Global Advisors
November 21, 2019--Charles Schwab Corp (SCHW.N) is in advanced talks to acquire TD Ameritrade Holding Corp (AMTD.O), a person familiar with the matter said on Thursday, in a deal that could exceed $26 billion and combine the two largest U.S. discount brokerages.
The companies are hoping their combination, which is bound to be scrutinized heavily by regulators, will give them more scale to withstand the impact of the industry's move toward zero commission for trades, the source said.
Source: Reuters
