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Renaissance Capital US IPO Market 2Q 2017 Quarterly Review-Most Active IPO Market in Two Years
June 30, 2017--The US IPO market's 2017 recovery gained momentum in the second quarter, with 52 IPOs raising $11 billion, a two-year high in terms of deal count and proceeds. Just halfway through the year, the 2017 IPO market has raised more capital than all of 2016.
Sectors were broadly represented, with a large pickup in growth names in technology and health care, which accounted for 50% of IPOs. The energy sector ground to a halt as oil prices continued their decline. Most sectors traded positive, though tech IPOs drove the average return up to 11%, the seventh-consecutive quarter with double-digit gains. Notable names like Altice USA and Floor & Decor offered investors market leaders with large scale and growth.
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Source: Renaissance Capital
State Street Global Advisors to Close 19 ETFs
June 30, 2017--State Street Global Advisors, the asset management arm of State Street (STT) announced that it was planning to close and liquidate 19 exchange-traded funds after the market's close on Friday.
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Source: Barron's
BlackRock Announces Index Changes on Three iShares ETFs
June 30, 2017--Effective on or around September 1, 2017, BlackRock will make index changes to three iShares ETFs.
Ticker: EWN
Fund Name: iShares MSCI Netherlands ETF
Current Underlying Index:MSCI Netherlands Investable Market Index
New Underlying Index: MSCI Netherlands IMI 25/50 Index
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Source: BlackRock
BlackRock moves 50 ETFs to NYSE's rival exchanges
June 30, 2017--BlackRock Inc (BLK.N) on Friday said it would move fifty of its exchange-traded funds from NYSE Arca to homes on rival trading exchanges in a move that points to more competition in the fast-growing industry.
The world's largest asset manager and issuer of ETFs will move 30 of its iShares-brand ETFs to CBOE Holdings Inc's (CBOE.O) Bats exchange and an additional 20 ETFs to Nasdaq Inc (NDAQ.O), the New York-based company said in a statement.
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Source: Reuters
CFTC.gov Commitments of Traders Reports Update
June 30, 2017--The current reports for the week of June 27, 2017 are now available.
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Source: CFTC.gov
Guggenheim Investments changes name of actively managed USD1bn enhanced short duration ETF
June 30, 2017--Name change to Guggenheim Ultra Short Duration ETF (GSY) better reflects investment strategy that seeks to offer enhanced yield opportunities combined with lower sensitivity to interest rate fluctuations.
Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, has changed the name of the Guggenheim Enhanced Short Duration ETF to the Guggenheim Ultra Short Duration ETF. The name change is effective today. The fund's ticker symbol remains the same (NYSE Arca:GSY).
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Source: Guggenheim Investments
WisdomTree Launches New Smart Beta Fund with Multifactor Exposure: WisdomTree U.S. Multifactor Fund
June 29, 2017--WisdomTree (NASDAQ:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced the launch of the WisdomTree U.S. Multifactor Fund (USMF), on the BATS Exchange.
USMF seeks to track the price and yield performance of the WisdomTree U.S. Multifactor Index and has a net expense ratio of 0.28%.
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Source: WisdomTree
Canadian securities administrators propose a new prospectus exemption for the resale
June 29, 2017--The Canadian Securities Administrators (CSA) today published for comment proposed amendments to National Instrument 45-102 Resale of Securities (NI 45-102) that would introduce a new prospectus exemption for the resale of securities of a foreign issuer.
"The proposed amendments would facilitate access to global markets," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers.
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Source: www.osc.gov.on.ca
CBO-An Update to the Budget and Economic Outlook: 2017 to 2027
June 29, 2017--Under current law, deficits in CBO's baseline projections continue to climb over the next decade, driving up federal debt. Economic growth remains modest, at about 2.0 percent through 2018 and then 1.9 percent later in the period.
CBO projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectory in relation to the nation's economic output, and federal debt would rise.
Economic growth is projected to remain modest, averaging slightly above 2.0 percent through 2018 and averaging somewhat below that rate for the rest of the period through 2027.
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Source: Congressional Budget Office (CBO)
U.S. Global Investors Launches "GOAU" Gold Royalty ETF
June 28, 2017--U.S. Global Investors, a San Antonio, Texas-based investment adviser, today launched the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE Arca: GOAU).
GOAU is a smart factor, passively managed fund that is designed to track the U.S. Global GO GOLD and Precious Metal Miners Index (GOAUX). GOAUX is designed to capture the performance of companies engaged in the production of precious metals either through active (mining or production) or passive (owning royalties or production streams) means.
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Source: U.S. Global Investors, Inc.
