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CBO-Monthly Budget Review for August 2017
September 8, 2017-- The federal budget deficit was $675 billion for the first 11 months of fiscal year 2017, CBO estimates-$56 billion more than the shortfall recorded during the same span last year.
Both receipts and outlays were higher than they were last year, but outlays rose much more. If not for shifts in the timing of certain payments (which otherwise would have fallen on a weekend), the deficit for the 11-month period would have been $97 billion larger than the amount recorded in that period last year.
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Source: Congressional Budget Office (CBO)
Lipper-U.S. Fund-Flows Weekly Report: Investors Turn to Money Market Funds
September 8, 2017--Thomson Reuters Lipper's fund macro-groups (including both mutual funds and ETFs) had net inflows of $7.5 billion for the fund-flows week ended Wednesday, September 6. The overall positive flows were driven by money market funds (+$6.8 billion), while taxable bond funds (+$1.6 billion) and municipal bond funds (+$250 million) also contributed to the total net inflows.
Equity funds (-$1.1 billion) was the only fund macro-group that saw net money leave for the week.
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Source: Thomson Reuters Lipper
KraneShares MSCI One Belt One Road ETF (Ticker: OBOR) Lists on the New York Stock Exchange
September 8, 2017--Krane Funds Advisors, LLC, ("KraneShares") a U.S. asset management firm known for its China focused KraneShares exchange traded funds (ETFs) and innovative China investment strategies, announced the launch of the KraneShares MSCI One Belt One Road ETF (ticker: OBOR).
The OBOR ETF, listed on the New York Stock Exchange, holds strategic companies from countries participating in China's One Belt One Road initiative (OBOR).
The OBOR initiative is a primary focus of Chinese President Xi Jinping.
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Source: Krane Funds Advisors, LLC
BNY Mellon DR Index Monthly Performance-August 2017
September 7, 2017--The BNY Mellon DR Index Monthly Performance report is now available.
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Source: BNY Mellon
Goldman Sachs Asset Management Launches Access Exchange-Traded Fund Goldman Sachs Access High Yield Corporate Bond ETF
September 7, 2017--Goldman Sachs Access High Yield Corporate Bond ETF (Ticker: GHYB) Offers Smart Beta Bond Exposure
GSAM today announced the expansion of its Access suite of exchange-traded funds ("ETF") with the launch of the Goldman Sachs Access High Yield Corporate Bond ETF (Ticker: GHYB).
The fund seeks to offer lower-cost1 access to high yield corporate bond markets.
GHYB seeks to track the Citi Goldman Sachs High Yield Corporate Bond Index (the "Index"), which uses a transparent, rules-based methodology, aiming to exclude those bonds with the greatest potential to default or deteriorate in price. It is priced to investors at 34 basis points2 and will begin trading on the NYSE Arca on September 7 with $50 million in assets.
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Source: Goldman Sachs Asset Management, L.P.
State Street agrees $35m fraud settlement with SEC
September 7, 2017--Complaints related to hidden mark-ups and lack of disclosure over an electronic platform.
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Source: FT.com
BullMark LatAm Select Leaders ETF to Delist from the Nasdaq
September 7, 2017---As per the Listing Qualifications Staff of the Nasdaq Stock Market LLC, shares of the BullMark LatAm Select Leaders ETF-BMLA (the "Fund") will be delisted from Nasdaq due to the fund's non-compliance with the minimum shareholder requirement.
Details of the ETF are as follows.
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Source: Horizons ETFs Management (US), LLC
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
