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U.S. Weekly FundFlows Insight Report: Fund Investors Inject Net New Money into Long-Term Assets for the Week
March 21, 2019--For the first week in four, investors were overall net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $24.1 billion for Lipper's fund-flows week ended March 20, 2019. However, the headline numbers are slightly misleading.
Fund investors were net purchasers of taxable fixed income funds (+$6.6 billion), equity funds (+$3.6 billion), and municipal bond funds (+$1.4 billion), while being net redeemers of money market funds (-$35.7 billion, their largest weekly net outflows since June 20, 2018).
Market Wrap-Up
Markets remained range-bound, but in most cases continued their upward trek during the fund-flows week, with investors applauding the Federal Open Market Committee's decision to keep rates unchanged and confirming its cautious approach to future interest rate hikes. Investors, however, still kept a cautious eye on mixed stories around the continued China/U.S. trade negotiations.
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Source: Refinitiv
Transamerica Launches DeltaShares S&P EM 100 & Managed Risk ETF, Expanding the DeltaShares Suite of Strategic Beta ETFs
March 21, 2019--Transamerica Asset Management, Inc. today announced the launch of the DeltaShares(R) S&P EM 100 & Managed Risk ETF, an expansion of the DeltaShares by Transamerica suite of strategic beta exchange-traded funds (ETFs) introduced in August 2017.
The new DeltaShares ETF tracks the S&P EM 100 Managed Risk 2.0 Index and offers investors the opportunity to participate in the performance of the 100 largest companies in the emerging markets plus the Republic of Korea, while seeking to reduce downside risk.
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Source: Transamerica
SEC to examine competition among US asset managers
March 20, 2019--Regulator fears that industry consolidation will hit investor choice
The US financial regulator is set to examine whether investors' choice of asset management companies will be damaged by competitive pressures that threaten to destroy smaller players.
The fight for survival in the fund industry is driving merger and acquisition activity, with many small and midsized managers seeking to forge alliances.
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Source: FT.com
BlackRock Has Never Charged This Little for an Index Mutual Fund
March 20, 2019--Money manager's move is indication of pressure firms face to lower prices of their most common stock-and-bond investments
BlackRock Inc. is cutting the price big clients pay to invest in its largest equity index mutual fund, a bid by the giant money manager to close the gap with cheaper rivals.
The move by the world's largest asset manager is a sign of the relentless pressure Wall Street firms face to lower the prices of their most common stock and bond investments. Falling fees are a threat to an industry that is facing a crisis tied to a loss of faith in high-priced managers.
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Source: Wall Street Journal
SEC Adopts Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure
March 20, 2019--The Securities and Exchange Commission today voted to adopt amendments to modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies. These amendments are expected to benefit investors by eliminating outdated and unnecessary disclosure and making it easier for them to access and analyze material information.
The amendments, consistent with the Commission's mandate under the Fixing America's Surface Transportation (FAST) Act, are based on recommendations in the staff's FAST Act Report as well as a broader review of the Commission's disclosure rules. The amendments are intended to improve the readability and navigability of company disclosures, and to discourage repetition and disclosure of immaterial information. Specifically, the amendments will, among other things, increase flexibility in the discussion of historical periods in Management's Discussion and Analysis, allow companies to redact confidential information from most exhibits without filing a confidential treatment request, and incorporate technology to improve access to information on the cover page of certain filings.
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Source: SEC.gov
Federal Reserve Board and Federal Open Market Committee release economic projections from the March 19-20 FOMC meeting
March 20, 2019--The table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the March 19-20 meeting.
view the Economic projections of Federal Reserve Board members and Federal Reserve Bank presidents, March 2019
Source: federalreserve.gov
CFTC.gov Swaps Report Update
March 20, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Hoya Capital Launches HOMZ, The Housing ETF
March 20, 2019--The Hoya Capital Housing ETF (Ticker: HOMZ) Offers Exposure to One of The Largest Asset Classes in the World
Hoya Capital Real Estate, a research-focused investment advisor specializing in real estate securities, today announced the launch of HOMZ, the first exchange traded fund (ETF) to offer diversified exposure across the entire US housing sector.
"The US Housing market is one of the largest-and arguably the most important-asset class in the world," said Alex Pettee, CFA, President of Hoya Capital Real Estate. "We believe HOMZ has the potential to be the new barometer for the performance of the US housing sector.
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Source: Hoya Capital Real Estate
Federal Reserve issues FOMC statement
March 20, 2019--Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the fourth quarter.
Payroll employment was little changed in February, but job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Recent indicators point to slower growth of household spending and business fixed investment in the first quarter. On a 12-month basis, overall inflation has declined, largely as a result of lower energy prices; inflation for items other than food and energy remains near 2 percent. On balance, market-based measures of inflation compensation have remained low in recent months, and survey-based measures of longer-term inflation expectations are little changed.
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Source: federalreserve.gov
Deutsche Bank AG Announces Intention To Delist Its Agriculture, Base Metals, Commodity, Crude Oil and Equity ETNs
March 20, 2019--Deutsche Bank announced today that it plans to delist the following exchange traded notes (ETNs) from NYSE Arca due to low levels of trading activity for the ETNs.
ETN Name: DB Agriculture Double Long Exchange Traded Notes due April 1, 2038
DB Agriculture Long Exchange Traded Notes due April 1, 2038
DB Base Metals Double Short Exchange Traded Notes due June 1, 2038
DB Base Metals Double Long Exchange Traded Notes due June 1, 2038
DB Base Metals Short Exchange Traded Notes due June 1, 2038
DB Commodity Double Long Exchange Traded Notes due April 1, 2038
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Source: Deutsche Bank AG
