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SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names
September 20, 2023--The Securities and Exchange Commission today adopted amendments to the Investment Company Act "Names Rule," which addresses fund names that are likely to mislead investors about a fund's investments and risks.
The amendments modernize and enhance the Names Rule and other names-related regulatory requirements to further the Commission's investor protection goals and to address developments in the fund industry in the approximately 20 years since the rule was adopted.
"As the fund industry has developed over the last two decades, gaps in the current Names Rule may undermine investor protection," said SEC Chair Gary Gensler. "Today’s final rules will help ensure that a fund's portfolio aligns with a fund's name. Such truth in advertising promotes fund integrity on behalf of fund investors."
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Source: SEC.gov
Active U.S. funds outperform passive counterparts, Morningstar report reveals
September 19, 2023--In a significant shift, over half of U.S. actively managed mutual funds and ETFs have outperformed their average passive counterparts in the year ending June, according to a recent report by Chicago-based research firm Morningstar.
This marks a notable increase from 43% in the calendar year ending December 2022.
The comprehensive study, which incorporated 8,212 funds and ETFs representing around $17 trillion in assets or approximately 55.9% of the U.S. fund market as of June 30, showed that active funds excelled across multiple asset classes and nearly all categories monitored by the firm. The only category not keeping pace was corporate bond funds, with just 40% outperforming passive rivals during the same period.
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Source: finance.yahoo.com
BondBloxx launches high yield bond sector rotation ETF sub-advised by Macquarie Asset Management
September 19, 2023--First of its kind active ETF allocates among high yield bond sector ETFs
BondBloxx Investment Management announces the launch of the BondBloxx USD High Yield Bond Sector Rotation ETF (HYSA), which began trading on the NYSE Arca on September 18.
This active ETF is the first of its kind, offering access to a high yield bond sector rotation strategy that allocates among precise high yield bond sector ETFs and seeks to maximize total return. Macquarie Asset Management serves as the fund's sub-adviser, a role that leverages their extensive experience in active high yield bond portfolio management, research, and risk management, and builds on the partnership announced with BondBloxx earlier this year.
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Source: BondBloxx Investment Management Corporation
Roundhill Sports Betting & iGaming ETF (NYSE Arca: BETZ) Changes Underlying Index
September 18, 2023--BETZ to track Morningstar Sports Betting & iGaming Select Index
On July 27, 2023, Roundhill Financial Inc. (the "Adviser"), the investment adviser to the Roundhill Sports Betting & iGaming ETF (the "Fund") has announced it will modify the underlying index of the Fund from the Roundhill Sports Betting and iGaming Index (the "Current Index") to the Morningstar Sports Betting & iGaming Select IndexSM (the "New Index").
These changes are anticipated to go into effect following the market closing on September 29, 2023. The Fund will open for trading on October 2, 2023 tracking the new Index.
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Source: Roundhill Investments
Hamilton ETFs Launches Hamilton U.S. Bond Yield Maximizer ETF, Canada's First Covered Call Bond ETF
September 14, 2023--Hamilton Capital Partners Inc. ("Hamilton ETFs") is pleased to announce the launch of the Hamilton U.S. Bond Yield Maximizer ETF ("HBND"). HBND seeks to deliver attractive monthly income, while providing exposure primarily to U.S. treasuries through a portfolio of bond exchange traded funds.
To supplement distribution income earned on its holdings, mitigate risk and reduce volatility, HBND will employ an actively managed covered call overlay.
HBND has closed the offering of its initial Class E units. Units of the ETF will begin trading on Friday, September 15, 2023 on the Toronto Stock Exchange ("TSX") under the ticker symbol "HBND".
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Source: Hamilton Capital Partners Inc.
Harbor Capital Advisors Launches Multi-Asset Explorer ETF
September 14, 2023---Harbor Capital Advisors, Inc. ("Harbor"), an asset manager that continues to curate a select suite of active ETFs from boutique managers, while internally managing multi-asset and multi-manager strategies via the firm's Multi-Asset Solutions Team, today has launched the Harbor Multi-Asset Explorer ETF (ticker: MAPP).
Managed by Harbor's Multi-Asset Solutions Team, the Harbor Multi-Asset Explorer ETF utilizes an actively managed multi-asset approach to achieve its investment objective of providing long-term total return while aiming to limit downside risk. In an effort to achieve the objective, the Fund invests in an underlying diversified portfolio of exchange traded funds, including other funds managed by Harbor, providing exposure to broad asset classes, such as equities, fixed income securities of any credit quality, real estate investment trusts, commodities, and cash and cash equivalents.
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Source: Harbor Capital
Defiance Launches QQQY, the First ETF to Utilize Daily Options (0DTE) for Enhanced Income
September 14, 2023--Defiance ETFs, a leader in thematic ETFs, is proud to announce the launch of QQQY which we believe is poised to disrupt the landscape of ETF high-income investing. The Defiance Nasdaq-100 Enhanced Option Income ETF (QQQY) marks the first-ever ETF to utilize daily options (0DTE) for enhanced income generation, paid on a monthly basis.
"We're thrilled to introduce QQQY to the market. The daily notional trading value of 0DTE options has skyrocketed to about $1 trillion1," stated Sylvia Jablonski, Chief Executive Officer at Defiance ETFs. "QQQY exemplifies our commitment to innovation and to meeting the evolving needs of investors. With daily options at the core of these products, we're seeking to unlock a new dimension of income generation within the ETF space."
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Source: Defiance ETFs
CBO-The U.S. Economic Outlook
September 14, 2023--Summary
Forecast for 2023 to 2025:
Growth will be sustained but with a soft patch in the near term.
Unemployment will rise slightly.
Inflation will gradually return to prepandemic levels.
Interest rates will decline as inflation comes under control.
Risks to the Outlook:
The outlook for inflation presents the greatest uncertainty.
The upside risks of lower inflation and faster growth are balanced with the downside risks of higher inflation and slower growth.
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Source: CBO (Congressional Budget Office)
J.P. Morgan Asset Management Launches Two Active ETFs: JGLO and JIVE
September 14, 2023--Funds seek to deliver JPM active management expertise and risk controls through the ETF structure
J.P. Morgan Asset Management today announced the launch of two actively-managed ETFs, JPMorgan Global Select Equity ETF (JGLO) and JPMorgan International Value ETF (JIVE) on The Nasdaq Stock Market LLC. These funds invest in equity securities and will benchmark to the MSCI World Index and MSCI ACWI ex USA Value Index, respectively.
JPMorgan Global Select Equity ETF (JGLO) seeks to deliver global equity market exposure by investing primarily in the securities of large cap market capitalization companies. The fund leverages an experienced equity management team comprising more than 50 years of combined experience and headed by industry veteran Helge Skibeli, CFA, based in London.
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Source: J.P. Morgan Asset Management
ETFGI reports that assets the ETFs industry in Canada gathered net inflows of US2.33 billion in August
September 13, 2023--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that ETFs industry in Canada gathered net inflows of US$2.33 billion during August, bringing year-to-date net inflows to US$21.30 billion.
Assets invested in the ETFs industry in Canada have increased 14.6 % YTD in 2023, going from US$250.19 Bn at the end of 2022, to US$286.77 Bn, according to ETFGI's August 2023 Canadian ETFs and industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
ETFs industry in Canada gathered net inflows of $2.33 Bn in August.
YTD net inflows of $21.30 Bn during are the third highest, after YTD net inflows of $32.72 Bn in 2021, YTD net inflows of $23.79 Bn in 2020.
$287 billion invested in ETFs industry in Canada at the end of August.
Assets have increased 14.6 % YTD, going from $250.19 Bn at the end of 2022, to $286.77 Bn.
14th month of consecutive net inflows.
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Source: ETFGI
