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Hartford Funds Broadens ETF Lineup with Launch of Hartford Schroders Tax-Aware Bond ETF
April 19, 2018--Hartford Funds today launched Hartford Schroders Tax-Aware Bond Exchange-Traded Fund (NYSE: HTAB), expanding its roster to five actively managed fixed income ETFs and seven multifactor ETFs.
Sub-advised by Schroder Investment Management North America Inc. ("SIMNA"), Hartford Schroders Tax-Aware Bond ETF seeks total return on an after-tax basis by investing in a diversified portfolio of taxable and tax-exempt fixed income debt instruments of varying maturities.
"Investors are seeking high quality fixed income solutions providing compelling after-tax returns at a competitive price," said Vernon Meyer, Chief Investment Officer of Hartford Funds.
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Source: Hartford Funds
Silicon Valley Is Into Bitcoin. It Wants to Keep Washington Out.
April 19, 2018--Andreessen Horowitz and other venture-capital backers of digital-currency firms argue against regulation
Big Silicon Valley backers of cryptocurrencies have sought a broad exemption from federal oversight they say would slow digital coin growth, as the industry steps up lobbying to limit government oversight of the burgeoning world of cryptocurrencies.
Andreessen Horowitz and Union Square Ventures met with officials at the Securities and Exchange Commission on March 28, arguing that Washington oversight could slow innovation based on the blockchain technology that underpins cryptocurrencies such as bitcoin...
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Source: Wall Street Journal
KraneShares to Hold Eight City China A-Share Inclusion Roadshow
April 18, 2018--Krane Funds Advisors, LLC the investment advisor to the KraneShares Bosera MSCI China A-Share ETF (NYSE: KBA) is proud to announce the "China A-Share Inclusion Roadshow" a series of educational events spanning eight U.S. cities from late April through May 2018.
The Roadshow will educate institutions and financial advisors on the upcoming inclusion of Mainland listed Chinese securities (A-Shares) into MSCI's Global Standard Indexes, commencing June 1st, 2018.
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Source: Krane Funds Advisors, LLC
Q1 market recap from Reality Shares
April 18, 2018--The BLCN ETF sees $100MM launch!
We are excited to announce that the Reality Shares Nasdaq NexGen Economy ETF (Ticker: BLCN) launched and reached over $100 million in assets under management (as of Jan 31, 2018)! Blockchain technology is quickly becoming an exciting area of interest for investors and companies.
The Reality Shares Blockchain ScoreTM methodology is a rules-based, quantitative process built to evaluate companies investing in blockchain technologies.
The underlying methodology and index was created through a partnership between Reality Shares and Nasdaq, and constitutes the joint research, analysis and investigation of both groups on the emerging development of blockchain technology.
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Source: Reality Shares
Thomson Reuters Lipper U.S. Mutual Funds & ETPs Q1 2018 Snapshot
April 18, 2018--In this issue of Lipper's U.S. Mutual Funds and Exchange-Traded Products Snapshot, we feature a summary of total net assets, estimated net flows, new fund creations, and fund liquidations for conventional funds and ETPs for Q1 2018, comparing the changes to those of prior quarters and highlighting the largest individual gainers and losers of both groups. The Snapshot provides readers a powerful, easy-to-use guide and quick-reference tool to help them discern fund trends during the quarter.
Highlights:
Total net assets (TNA) for the conventional funds business declined 0.19% for Q1, falling $34.6 billion from Q4 2017 to $18.6 trillion for Q1 2018.
TNA for U.S. exchange-traded products (ETPs) rose 0.31% from $3.437 trillion for Q4 2017 to a little over $3.448 trillion for Q1.
For Q1 actively managed funds, excluding money market funds, handed back a net $8.6 billion, while their passively managed counterparts took in $106.9 billion.
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Source: Thomson Reuters
SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Investment Professionals
April 18, 2018--The Securities and Exchange Commission today voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors' relationships with investment advisers and broker-dealers while preserving access to a variety of types of advice relationships and investment products.
Under proposed Regulation Best Interest, a broker-dealer would be required to act in the best interest of a retail customer when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer. Regulation Best Interest is designed to make it clear that a broker-dealer may not put its financial interests ahead of the interests of a retail customer in making recommendations.
In addition to the proposed enhancements to the standard of conduct for broker-dealers in Regulation Best Interest, the Commission proposed an interpretation to reaffirm and, in some cases, clarify the Commission's views of the fiduciary duty that investment advisers owe to their clients. By highlighting principles relevant to the fiduciary duty, investment advisers and their clients would have greater clarity about advisers' legal obligations.
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Source: SEC.gov
Direxion files with the SEC-2 Robotics ETFs & 2 Daily Preferred Stock Bull ETFs
April 17, 2018--Direxion has filed a post-effective amendment, registration statement with tbe SEC for the Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares
Direxion Daily Preferred Stock Bull 2X Shares
Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 3X Shares
Direxion Daily Preferred Stock Bull 3X Shares.
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Source: SEC.gov
Solactive Introduces Autonomous & Electric Vehicles Index as the underlying for DRIV ETF in the U.S.
April 17, 2018--Solactive is launching the Solactive Autonomous & Electric Vehicles Index, an index tracking the performance of companies involved in the production of electric or hybrid vehicles and the development of self-driving technology.
The index is based on ARTISTM, a proprietary algorithm-based screening tool developed by Solactive. ARTISTM-acronym for Algorithmic Theme Identification System-makes use of systems such as natural language processing to select companies that have best exposure to specific themes. The Solactive Autonomous & Electric Vehicles Index is licensed to Global X and is used as the basis for the Global X Auton-omous & Electric Vehicles ETF (DRIV) listed on the NASDAQ stock exchange.
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Source: Solactive AG
Fee Rate Advisory #3 for Fiscal Year 2018
April 17, 2018--The Securities and Exchange Commission today announced that starting on May 22, 2018, the fee rates applicable to most securities transactions will be set at $13.00 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $23.10 per million for covered sales occurring on charge dates through May 21, 2018, and a rate of $13.00 per million for covered sales occurring on charge dates on or after May 22, 2018.
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Source: SEC.gov
BlackRock-February 2018 Case Study: ETF Trading in a High-Velocity Market March 2018
April 17, 2018--The sharp equity market sell-off and volatility spike during the week ended February 9, 2018 served as a market-wide stress test, especially for exchange-traded products (ETPs). During this week, exchange traded funds (ETFs) experienced more than $1 trillion in US-listed exchange trading volume, roughly double normal trading volumes (Source: Bloomberg).
While much of the media attention focused on losses in certain complex exchange-traded products (that are not ETFs), this episode underscored stability and liquidity of ETF trading amidst historic trading volumes. In fact, BlackRock observed some of the highest on-exchange volumes ever in its US-listed ETFs during this period.
We view this case study as a powerful counterpoint to questions that have been raised about the resilience of the ETF product structure and ecosystem in stressed markets. Not only was ETF trading orderly, an upswing in trading volume showed that investors again turned to ETFs in times of turbulence. Importantly, even with heavy trading of ETF shares on exchange, the funds experienced minimal outflows. In other words, buys and sells on exchange largely cancelled each other out, with the outflows representing minimal demand imbalance. In effect, ETFs acted as "shock-absorbers" in choppy markets.
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Source: BlackRock
