Americas ETP News
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Renaissance Capital Scheduled U.S. IPOs
December 8, 2017--Scheduled U.S. IPOs-Week of 12/11/17
IPO Index Performance
The Renaissance IPO Index has returned 33.9% so far this year, compared to 17.8% for the S&P 500.
IPO USA
IPO Activity
There have been 156 IPOs priced so far this year, a +53% change from last year.
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Source: Renaissance Capital
US stock traders, investors call for action on market data costs
December 7, 2017--US stock traders and investors are turning up the heat on a long-running effort to fight the cost of market data.
In a letter to the Securities and Exchange Commission, 24 companies-including Citadel Securities, Fidelity Investments and Vanguard-petitioned the regulator to require exchanges to conduct a thorough review of the collection, distribution and sale of market data.
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Source: FT.com
ETF Visionaries Bruce Bond and John Southard Make Industry Return at Helm of Innovator Capital Management
December 7, 2017--PowerShares founders purchase Innovator ETFs, build team, set sights on bringing revolution back to the ETF marketplace
Bruce Bond and John Southard, exchange-traded fund (ETF) pioneers and founders of one of the world's largest ETF providers, today announced their return to the ETF industry as leaders of Innovator Capital Management, LLC, a Wheaton, Illinois-based SEC registered investment advisor and the operator of the Innovator ETF Trust.
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Source: Innovator Capital Management, LLC
CBO-Monthly Budget Review for November 2017
December 7, 2017--The federal budget deficit was $198 billion for the first two months of fiscal year 2018, the Congressional Budget Office estimates, $15 billion more than the one recorded during the same period last year. Revenues and outlays alike were 6 percent higher than in October and November 2016.
As was the case last year, this year's outlays were reduced by the shift of certain payments from October to September because October 1 fell on a weekend. Otherwise, outlays and the deficit through November would have been larger, both this year and last year-but the year-to-year differences would not have been very different. Outlays so far this year would have been $41 billion (rather than $39 billion, still about 6 percent) larger than those in the same period last year, and the deficit would have risen by $18 billion.
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Source: Congressional Budget Office (CBO)
Hartford Funds Launches its First NextShares Product
December 7, 2017--Hartford Global Impact NextShares Fund Brings Socially Responsible Investing to the NextShares Platform
Hartford Funds today announced the launch of Hartford Global Impact NextShares Fund (HFGIC), the firm's first NextShares product.
NextShares are an innovative way to invest in actively managed strategies, which, because they trade on an exchange, may offer cost and tax efficiencies that may enhance shareholder returns. Hartford Global Impact NextShares Fund seeks long-term capital appreciation by investing in companies throughout the world that it believes are likely to address major social and environmental challenges.
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Source: Hartford Funds
Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
December 7, 2017--BofA, Citigroup said to not plan to offer clearing on products
Goldman Sachs says it's evaluating the 'risk attributes'
Goldman Sachs Group Inc. plans to clear bitcoin futures contracts for certain clients when the derivatives go live in coming days, according to a person with knowledge of the firm's plans.
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Source: Bloomberg
J.P. Morgan Asset Management Launches Managed Futures Alternative Beta ETF: JPMF
December 7, 2017--Systematic exposure to the managed futures hedge fund style
J.P. Morgan Asset Management announced today the launch of the JPMorgan Managed Futures ETF (JPMF), which seeks to provide exposure to carry and momentum factors across fixed income, currency, commodity and equity markets.
The fund employs a bottom-up strategy constructed by taking long and short positions in futures markets backed by a systematic, rules-based approach. It can serve as a portfolio diversifier with the potential to limit drawdowns and reduce overall volatility by providing returns that are uncorrelated to traditional asset classes.
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Source: J.P. Morgan Asset Management
Do Vanguard and BlackRock Own Too Much of Corporate America?
December 7, 2017--Eric Posner, a University of Chicago law professor, explains why he thinks large asset managers need to be reined in.
Eric Posner is the Kirkland and Ellis Distinguished Service Professor of Law and Arthur and Esther Kane Research Chair at the University of Chicago Law School. Among his research interests is the question of the increasing concentration of ownership in corporate America, including the role of institutional investors. A recent paper he cowrote, in which he proposes limiting the companies an index fund can own in one industry..
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Source: Morningstar, Inc.
Financial Accounts of the United States-Z.1
December 7, 2017--The Financial Accounts of the United States includes data on the flow of funds and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail.
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Source: federalreserve.gov
Merk Insight: Merk 2018 Outlook
December 6, 2017--With the stock market and Bitcoin reaching all-time highs, what can possibly go wrong? In offering my thoughts on 2018, I see my role in reminding investors to stress test their portfolios.
Is your portfolio built of straw, sticks or brick?
First, let me allege many investors have portfolios built of straw and sticks rather than brick. How do I know this? Here’s a brief check:
If a robust portfolio is a diversified one (the only free lunch on Wall Street), then please check whether you have rebalanced your portfolio of late. If not, odds are equities have taken on an oversized portion in your portfolio, thus making it more vulnerable than you might have intended in a downturn.
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Source: Merk Investments
