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AdvisorShares Weekly Market Review-FOMC Divergence
October 17, 2017--Highlights of the Week Ending 10/13/2017
Macro
It was a big week for news but a very quiet for markets.
The Dow Jones Industrial Average gained 0.47%, the S&P 500 was up 0.17%, the NASDAQ moved ahead by 0.24% but the Russell 2000 fell 0.51%.
Bloomberg believes that the public spat between President Trump and Tennessee Senator Bob Corker jeopardizes the much discussed and eagerly awaited tax reform.
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Source: AdvisorShares
First Family of Actively Managed ETFs Designed to Provide Exposure to Political and Policy-Driven Events Launched
October 17, 2017--GOP and DEMS are joined by TAXR, a tactical strategy focused on Tax Reform
The first family of actively managed exchange-traded funds (ETFs) designed to give investors exposure to major multi-factor political, economic, and policy-driven events and themes was introduced today by EventShares.
The two flagship ETFs-the EventShares Republican Policies Fund (BATS: GOP) and the EventShares Democratic Policies Fund (BATS: DEMS)-seek to construct portfolios expected to be positively affected by each respective party's policies. Both seek to provide capital appreciation by unlocking value from policy-driven events and themes. Neither fund seeks to replicate the performance of a specific index.
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Source: EventShares
CBOE Holdings Becomes Cboe Global Markets, Unveils New Corporate Identity
October 17, 2017--CBOE Holdings, Inc. today unveiled its new name, Cboe Global Markets, Inc. (BZX: CBOE | NASDAQ: CBOE), identity and mission at the Futures Industry Association (FIA) Expo 2017 conference, currently taking place in Chicago.
The changes were made to better reflect the evolving nature and spirit of the company and follows the acquisition of Bats Global Markets (Bats) earlier this year.
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Source: Cboe Global Markets, Inc.
Canadian securities regulators outline disclosure expectations and certain risks for issuers with U.S. marijuana-related activities
October 16, 2017----The Canadian Securities Administrators(CSA) today published CSA Staff Notice 51-352 Issuers with U.S. Marijuana-Related Activities, which among other things, outlines CSA staff's specific disclosure expectations for issuers that have, or are in the process of developing, marijuana-related activities in the U.S.
Issuers with marijuana-related activities in the U.S. assume certain risks due to conflicting state and federal laws. While some states have authorized the use and sale of marijuana, it remains illegal under federal law. The federal law relating to marijuana could be enforced at any time, and this would put issuers with U.S. marijuana-related activities at risk of being prosecuted and having their assets seized.
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Source: The Canadian Securities Administrators(CSA)
Old Wall Street Is Losing the War Under the Surface of ETFs
October 16, 2017--Electronic traders are boosting their share of market making
Regulation has hurt this business for firms like Goldman Sachs.
A hidden war is taking place within your exchange-traded fund, and some of the biggest names on Wall Street are losing out.
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Source: Bloomberg
State Street Escalates ETF Fee War, Chops Fees on 15 Products
October 16, 2017--The move is the latest example of an ETF provider trying to win business with rock-bottom management fees
Global Advisors is overhauling more than 15 exchange-traded funds, slashing management fees and rebranding funds in a bid to lure retail investors and financial advisers. The move is the latest example of an ETF provider banking on rock-bottom management fees to win new money in a hyper-competitive market for products that give investor blunt exposures
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Source: Wall Street Journal
State Street Global Advisors Launches Suite of Ultra-Low-Cost SPDR(R) Portfolio ETF
October 16, 2017---State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), today announced the launch of SPDR Portfolio ETFs, a suite of 15 ultra-low-cost ETFs that provide access to a wide range of equity and fixed income asset classes to help investors meet their goals.
Comprising 15 existing funds, including three that will track new indices, and with over $11B1 in existing assets under management, the SPDR Portfolio ETFs include:
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Source: State Street Global Advisors
TD Ameritrade to Offer Largest Commission-Free ETF Program with Expanded 296 ETF Lineup
October 16, 2017--Industry-leading selection of non-proprietary, low-cost ETFs from eight top ETF providers
TD Ameritrade1 today announced a major expansion and upgrade of its commission-free exchange-traded funds (ETF) trading program, tripling the number of ETFs to 296 from 100, effective tomorrow. The firm will offer the most commission-free ETFs in the industry as well as the largest selection of non-proprietary- commission-free ETFs.
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Source: TD Ameritrade
Evolve Funds Announces Three New ETFs to Begin Trading on the TSX
October 16, 2017-- Evolve Funds Group Inc. ("Evolve Funds") is pleased to announce the launch of the following ETFs in Canada ("Evolve ETFs"):
Evolve US Banks Enhanced Yield ETF ("CALL");
Evolve Active US Core Equity ETF ("CAPS"); and
Evolve Active Short Duration Bond ETF ("TIME")
The Evolve ETFs have closed their initial offerings of hedged and unhedged units and will begin trading on the Toronto Stock Exchange ("TSX") today under the following ticker symbols:
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Source: Evolve Funds Group Inc
U.S. Weekly FundFlows Insight Report: Investors Inject Net New Money Into Funds Ahead of the Q3 Earnings Season
October 13, 2017--For the second week in three investors were net purchasers of fund assets (including those of conventional funds and ETFs), injecting $6.9 billion. Investors padded the coffers of taxable bond funds (+$3.5 billion), equity funds (+$2.9 billion), money market funds (+$464 million), and municipal bond funds (+$44 million).
They remained cautiously optimistic ahead of Q3 2017 earnings season after Congress passed a budget resolution early in the fund-flows week-which many viewed as a precursor to tax-reform legislation. Although investors did a little handwringing before the release of the Federal Reserve Board's FOMC September meeting minutes and the beginning of earnings season later in the flows week, they shrugged off the first monthly decline in nonfarm payrolls since 2010.
