Americas ETP News
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Study: Fee-Based Advice to Soldier on Regardless of Rule Outcome
September 7, 2017--Regardless of the long-term fate of the Department of Labor's fiduciary rule, advisors in broker-dealer channels will continue shifting to fee-based products and passively managed investments, a new survey found.
Broker-dealer advisors are also expected to disengage from smaller, less profitable clients.
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Source: insurancenewsnet.com
U.S. firm backing ether-based ETF says to refile listing application
September 7, 2017--The U.S. firm behind an effort to start an exchange-traded fund based on the cryptocurrency ether said on Thursday it planned to refile an application to list the security on Intercontinental Exchange Inc's NYSE Arca exchange after an initial filing was withdrawn.
NYSE withdrew the application with the U.S. Securities and Exchange Commission to list the EtherIndex Ether Trust ETF on Wednesday, according to a regulatory filing.
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Source: Reuters
ULTUMUS-Five plain vanilla listings from PowerShares
September 7, 2017--PowerShares is listing five new funds under its "PureBeta" brand. The listings suggest that the fourth largest American issuer is taking a different strategy in its product offering, breaking away from its smart-beta-centred approach and trying to make headways in plain vanilla ETFs.
The new funds are:
PowerShares PureBeta MSCI USA Portfolio (PBUS)
PowerShares PureBeta MSCI USA Small Cap Portfolio (PBSM)
....
Apt value ETF from Aptus
Aptus is listing a new fund on Bats which tracks an index built in-house. The Aptus Fortified Value ETF (FTVA) will invest in 50 companies and real estate trusts that it believes are undervalued.....
iShares updates its 10 year iBond
iShares has updated its 10-year iBond for 2017, issuing a fund that offers exposure to investment-grade corporate bonds that mature between January 1, 2027 and December 15, 2027.
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Source: ULTUMUS-Financial Data Management
More Investors Put More Money Into ETFs, Survey Says
September 7, 2017--The annual survey by Charles Schwab says four out of 10 ETF investors expect the funds to become their primary investment vehicle.
U.S. investors have nearly doubled portfolio allocations to ETFs in the past five years, and even more expect to embrace the investment vehicle in the next few years, according to a study by Charles Schwab (SCHW).
The firm released its seventh annual "ETF Investor Study" today, and it showed that on average, ETF investors put 27% of their portfolios into ETFs, compared to 16% in 2012.
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Source: Barron's
Bats Welcomes New Issuer Point Bridge Capital to the Bats ETF Marketplace
September 7, 2017--Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded product (ETP) trading globally, today welcomed new issuer Point Bridge Capital to the Bats ETF Marketplace, with the launch of one fund.
The Point Bridge GOP Stock Tracker ETF (Bats: MAGA) seeks to track the performance, before fees and expenses, of the Point Bridge GOP Stock Tracker Index. The Index uses an objective, rules-based methodology to track the performance of companies whose employees and political action committees are highly supportive of Republican political candidates and party-affiliated federal committees or groups.
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Source: Bats Global Markets
VanEck(R) Merk(R) Gold Trust (OUNZ) Reduces Fees for Gold Delivery
September 6, 2017--OUNZ is the only gold ETF with a patented process by which investors can take delivery of their gold
VanEck Merk Gold Trust (OUNZ), reduces fees investors pay to take delivery of their gold.
"Investors appreciate the ease of buying gold through an ETF, but foremost, they want to be assured the gold is really there for them. Now, we are reaffirming on our commitment to provide investors with easy and cost-effective access to their gold," explains Axel Merk, President of Merk Investments, the sponsor of OUNZ.
On any business day, investors may request delivery of the London Bars held by the Trust, as well as exchange their shares for gold coins (or bars) that are more commonly desired by individual investors.
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Source: Merk Investments
Beige Book-National Summary-September 6, 2017
September 6, 2017--Overall Economic Activity
Economic activity expanded at a modest to moderate pace across all twelve Federal Reserve Districts in July and August. Consumer spending increased in most Districts, with gains reported for nonauto retail sales and tourism, but mixed results for vehicle sales.
Capital spending also increased in several Districts. Manufacturing activity expanded modestly on balance. That said, reports were mixed regarding auto production, and contacts in many Districts expressed concerns about a prolonged slowdown in the auto industry. Both residential and commercial construction increased slightly overall. Low inventories of homes for sale continued to weigh on residential real estate activity across the country, while commercial real estate activity increased slightly. Activity in the energy and natural resources sector was generally positive prior to shutdowns arising from Hurricane Harvey.
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Source: federalreserve.gov
A Big Critic of ETFs Is Planning to Launch One of His Own
September 6, 2017--Actively managed fund will hold firm's top picks each year
Yusko criticizes passive ETFs as having "no ability to think"
Like many active managers, Mark Yusko of Morgan Creek Capital Management LLC has some serious gripes about the rise of exchange-traded funds and the ascendancy of passive investing.
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Source: Bloomberg
Canada raises benchmark rate to 1%, adding to July increase
September 6, 2017--Canadian dollar jumps sharply on decision amid robust growth for North American nation.
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Source: FT.com
PIMCO Launches 3 RAFI Dynamic Multi-Factor Equity ETFs
September 6, 2017--The smart beta ETFs seek to provide diversified exposure to multiple equity factors linked to higher return potential
PIMCO, a leading global investment management firm, announces the launch of three smart beta equity ETFs designed to provide investors with diversified exposure to multiple equity factors, including value, quality, low volatility, momentum and size.
The ETFs are benchmarked to the Research Affiliates' RAFI Dynamic Multi-Factor indexes, which employ an innovative and dynamic factor weighting methodology in an effort to generate attractive returns for clients.
The three ETFs are:
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Ticker: MFUS)
PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Ticker: MFDX)
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Source: PIMCO Account Management
