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U.S. Weekly FundFlows Insight Report: Fund Investors Take a Risk-Off Approach for the Week
September 13, 2018--For the second week in three investors were net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $3.3 billion net for Lipper's fund-flows week ended September 12, 2018. Fund investors padded the coffers of taxable fixed income funds (+$2.4 billion) but were net redeemers of money market funds (-$3.8 billion), equity funds (-$1.8 billion), and municipal bond funds (-$136 million).
Market Wrap-Up
Investors took their collective foot off the pedal for the fund-flows week as they continued to focus on escalating trade-war rhetoric between the U.S. and China and the large currency declines for Argentina and Turkey. The Dow Jones Industrial Average Price Only Index (+0.09%) and the S&P 500 Price Only Index (+0.01%) were the only U.S. broad-based indices posting plus-side returns for the flows week.
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Source: Thomson Reuters
American Century Investments(R) Launches Three Additional Exchange Traded Funds
September 12, 2018--American Century Investments today announced the further buildout of its suite of Exchange Traded Funds (ETFs). American Century(R) Quality Diversified International ETF (QINT), American Century(R) STOXX(R) U.S. Quality Growth ETF (QGRO) and American Century(R) Diversified Municipal Bond ETF (TAXF) are now available to clients and investors and are listed on the NYSE ARCA. STOXX(R) is a registered trademark of STOXX Ltd.
"We are building a line-up of ETFs that apply our unique insights to solve common investment problems and help investors achieve their goals," said Edward Rosenberg, senior vice president and head of ETFs for American Century Investments.
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Source: American Century Proprietary Holdings Inc.
CBO-Monthly Budget Review for August 2018
September 10, 2018--The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays rose by about 7 percent.
As was the case last year, this year's outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend or a holiday. If not for those shifts, the increase in the deficit would have been smaller: The deficit for the 11-month period would have been $154 billion larger than last year's amount.
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Source: Congressional Budget Office (CBO)
Principal announces new leaders in global asset management
September 10, 2018--Principal Financial Group(R) announced top leadership appointments today to its $667 billion1 global asset management platform.
Tim Dunbar, executive vice president and chief investment officer, is promoted to president of the Global Asset Management business, which encompasses all of Principal's asset management capabilities including Principal Global Investors, Principal International investment operations2, the General Account, and RobustWealth, a recent digital investment advice acquisition.
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Source: Principal Financial Services, Inc.
SEC halts trading in two cryptocurrency products, citing market confusion
September 9, 2018--The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs).
The SEC said in a statement that trading in Bitcoin Tracker One and Ether Tracker One would be halted in the United States until at least Sept. 20.
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Source: Reuters
Korea's Mirae to launch Brazil's first fixed income ETF
September 7, 2018--Mirae Asset Global Investments is gearing up to launch Brazil's first fixed-income ETF in partnership with S&P Dow Jones Indices.
The Mirae Asset Renda Fixa Pré Fundo de Índice is set to go live on September 10, according to the Korean asset manager and B3, Brazil's leading stock exchange.
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Source: citywireamericas.com
U.S. Weekly FundFlows Insight Report: Funds Take in $3.3 Billion of Net New Money, Thanks to Money Market Funds
September 7, 2018--Lipper's fund asset groups (including both mutual funds and ETFs) had net-positive flows of $3.3 billion for the fund-flows week ended Wednesday, September 5.
Money market funds (+$11.8 billion) were responsible for all the net inflows, while equity funds (-$7.2 billion), taxable bond funds (-$1.1 billion), and municipal debt funds (-$181 million) saw money leave.
Market Overview
The S&P 500 Index and the Dow Jones Industrial Average lost 0.87% and 0.57%, respectively, for the fund-flows week. Both indices suffered the lion's share of their losses on the first trading day of the week as the markets were stung by the resurfacing of trade-war concerns. There were reports that President Donald Trump was prepared to impose tariffs on another $200 billion of imports from China when the public comment period on the proposal expires on September 6.
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Source: Thomson Reuters
CFTC.gov Commitments of Traders Reports Update
September 7, 2018--The current reports for the week of September 7, 2018 are now available.
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Source: CFTC.gov
First Trust Expands its Dorsey Wright Strategies ETF Lineup with three First Trust Dorsey Wright Momentum Plus ETFs
September 6, 2018--September 6, 2018--Index-tracking ETFs which combine factor investing with Dorsey Wright’s systematic momentum strategy
First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that three First Trust Dorsey Wright Momentum Plus ETFs (the "funds") began trading on The Nasdaq Stock Market LLC.
The funds seek investment results that correspond generally to the price and yield (before the funds’ fees and expenses) of the Dorsey Wright Momentum Plus Indexes (the "indexes"). The rules-based equity indexes are designed to select securities based on individual stock momentum using Dorsey, Wright & Associates' (DWA) proprietary relative strength methodology, plus a fundamental factor (value, dividend yield or volatility).
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Source: First Trust
AdvisorShares Active ETF Market Share Update-Week Ending 8/31/2018
September 6, 2018--Actively managed ETFs gained $790 million last week to reach $63.4 billion in total net assets.
PIMCO and JP Morgan led weekly AUM growth among sponsors with $221 million and $137 million gains respectively.
There was one fund closure and no new fund launches, which brought the total number of actively managed ETFs to 238.
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Source: AdvisorShares
