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SEC Cracks Down on ETF Names That Could Mislead Investors
April 12, 2019--The Investment Company Act of 1940 prohibits Issuers from using "materially deceptive or misleading" names.
Exchange-traded funds looking to tap some of the hottest investment trends are going undercover.
A growing number of thematic ETFs are changing their identities before they even start trading to conform to a decades-old rule that dictates what issuers can and can't call their strategies. More than a third of such funds started last year tweaked their names during the regulator's approval process, filings show; one fund that initially included blockchain in its name is now described as a "transformational data sharing" ETF.
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Source: thinkadvisor.com
Source: thinkadvisor.com
Causeway ETMF Trust to Liquidate Two Exchange-Traded Managed Funds
April 12, 2019--Causeway International Value NextShares and Causeway Global Value NextShares to be Liquidated on or about May 13, 2019.
Causeway Capital Management LLC today announced that the Board of Trustees of Causeway ETMF Trust has approved the liquidation of Causeway International Value NextShares ($4.5 million in net assets) and Causeway Global Value NextShares ($4.8 million in net assets), each a series of Causeway ETMF Trust, on or about May 13, 2019.
Effective the close of business on April 15, 2019, the funds will no longer accept creation unit purchase orders. The last day of secondary market trading on NASDAQ in the funds' shares is expected to be after markets close on May 6, 2019.
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Source:Causeway Capital Management LLC
KraneShares, China-Focused Asset Manager, Debuts Emerging Market ETF Excluding China
April 12, 2019-- Krane Funds Advisors, LLC, ("KraneShares") announced the launch of the KraneShares MSCI Emerging Markets ex China Index ETF, which listed today on the New York Stock Exchange (NYSE: KEMX). KraneShares is a U.S. asset management firm known for its China-focused exchange-traded funds (ETFs) and innovative China investment strategies.
KEMX is benchmarked to the MSCI Emerging Markets ex China Index, which tracks large cap and mid cap companies within emerging market countries, excluding China.
This is KraneShares thirteenth U.S.-listed fund and third emerging market ETF. Rooted in the KraneShares thesis “China is an asset class”, investors will be able to pair KEMX with other KraneShares China-focused core and thematic funds to make a strategic investment without duplicating exposure to China.
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Source: KraneShares
J.P. Morgan Asset Management Expands BetaBuilders Suite with Exposure to U.S. Equity and Short Duration Fixed Income
April 11, 2019--Two New Fund Launches, BBUS and BBSA, Add to Menu of JPMorgan BetaBuilders ETFs
J.P. Morgan Asset Management today announced that it will offer efficient access to the largest equity market in the world through the new JPMorgan BetaBuilders U.S. Equity ETF ("BBUS") at a fee of 2 basis points.
The firm is also launching the JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF ("BBSA"), at a fee of 5 basis points. Both ETFs are expected to list on the Cboe on Wednesday, March 13th.
"BetaBuilders represent our strategy to deliver a comprehensive range of market exposures through portfolio building blocks,' said Ogden Hammond, Global Head of Beta Product & Business Development for J.P. Morgan Asset Management. "These launches add to our full range of active, strategic beta and passive ETF options, helping clients build stronger portfolios."
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Source: J.P. Morgan Asset Management
Solactive and SoFi challenging the Status Quo-Two Waived-Fee ETFs released with Solactive underlyings
April 11, 2019--Solactive is pleased to announce the release of two indices labeled Solactive SoFi US 500 Growth Index and Solactive SoFi US Next 500 Growth Index, both serving as the underlying for two ETFs featuring a radical zero-fee waiver approach: the SoFi Select 500 ETF and the SoFi Next 500 ETF. Both funds are released by disruptive online personal finance company SoFi.
These funds allow investors widespread access to the US broad market and will be free of charge through at least June 30, 2020.
The indices underlying the ETFs are based on the Solactive US Broad Market Index, which includes equity securities of approximately 3,000 of the largest U.S. companies.
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Source: Solactive
ProcureAM's Space ETF (NYSE Arca: UFO) Takes Off
April 11, 2019--Firm's inaugural ETF aims to offer investors pure-play exposure to multibillion-dollar space industry
Exchange-traded product (ETP) issuer ProcureAM, a wholly owned subsidiary of Procure Holdings, LLC, is boldly going where no one has gone before with the launch of the Procure Space ETF (NYSE Arca: UFO)-the world's first global ETF to give investors pure-play access to the expanding space industry.
UFO tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services. Approximately 80 percent of companies in the index derive the majority of revenues directly from their involvement in the space industry, enabling investors to potentially capture this growing segment of the global economy.
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Source: ProcureAM
1 in 5 Investors Don't Have an Advisor but Want One: Wells Fargo
April 11, 2019--Young investors in particular have an unmet need for advisors, Wells Fargo's Wayne Badorf says.
Financial advisors remain a vital source of advice for most investors, according to the first-quarter 2019 Wells Fargo/Gallup Investor and Retirement Optimism Index survey.
The survey-which comprised interviews with 1,029 U.S. adults with $10,000 or more invested in stocks, bonds or mutual funds-found that 84% of investors say that financial advisors will always be needed and will not be replaced by automated investing technology.
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Source: thinkadvisor.com
U.S. Weekly FundFlows Insight Report: Long-Term Funds Take in a Net $10.1 Billion for the Week
April 11, 2019--For the third consecutive week, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $1.4 billion for Lipper’s fund-flows week ended April 10, 2019.
Fund investors were net purchasers of taxable fixed income funds (+$4.8 billion), equity funds (+$4.3 billion), and municipal bond funds (+$956 million), while being net redeemers of money market funds (-$8.6 billion).
Market Wrap-Up
Markets generally continued their upward trek during the fund-flows week, with investors embracing news about advances in the China/U.S. trade negotiations, the Federal Reserve's continued dovish tone, and a better-than-expected March nonfarm payrolls report. The Dow Jones Industrial Average Price Only Index (-0.23%) suffered the only negative return during the flows week of the broadly followed U.S. indices.
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Source: Refinitiv
SoFi Releases SoFi Select 500 (SFY) and SoFi Next 500 (SFYX) ETFs
April 11, 2019--With Expense Ratio Waived To Zero, Funds Designed to Provide Investors a Set of Powerful New Portfolio Building Blocks
SoFi announced today the availability of two new exchange-traded funds (ETFs), the SoFi Select 500 ETF (NYSE: SFY) and the SoFi Next 500 ETF (NYSE: SFYX).
Both funds have fee waivers in place that lower total fund expenses to zero through at least June 30, 2020.
"When it comes to achieving financial independence, investing isn't a choice-it's a requirement," said SoFi CEO Anthony Noto. "We designed these ETFs to make it as simple and easy as possible for anyone to start investing for the future, without any fees dragging on your returns."
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Source: SoFi
Missing: $500bn of American savingsMissing: $500bn of American savings
April 10, 2019-The greatest trick the Devil ever pulled, was convincing the world that interest income might have existed.