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IMF Working paper-Advancing Financial Development in Latin America and the Caribbean
April 7, 2016--Summary: This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension.
The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.
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Source: IMF
First Trust Announces Changes to Investment Objectives for Twelve AlphaDEX(R) ETFs
April 7, 2016--On April 8, 2016, each of the index exchange-traded funds listed below (each, a "Fund") will change its investment objective to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of a new corresponding Nasdaq AlphaDEX(R) Equity Index (each, a "New Index").
Each New Index is a modified equal-dollar weighted index developed and maintained by Nasdaq, Inc. ("Nasdaq") that is designed to generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology.
Minutes of the Federal Open Market Committee March 15-16, 2016
April 6, 2016--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the minutes of the Committee meeting held on March 15-16, 2016.
The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting.
BM&FBovespa has said it sees chance for new distribution White House Fact Sheet: Strengthening Retirement Security by Cracking Down on Conflicts of Interest in Retirement Savings REX Shares Introduces First Ever Gold Hedged Equity ETFs view more
Bats Global Markets, Inc. Announces the Launch of its Initial Public Offering
Certain selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,680,000 shares. Bats will not receive any proceeds from the sale of any shares by the selling stockholders. Bats has applied to list the shares of its common stock on the Bats BZX Exchange under the symbol "BATS." read more J.P. Morgan Asset Management Launches Two New ETFS: JPIH and JPEH AdvisorShares Weekly Market Update-This Week in Active ETFs: First Quarter Ends With A Meh! view more TSX Welcomes TD Asset Management, Canada's Newest ETF Provider to Open the Market view more
BM&FBovespa SA, the operator of Latin America's biggest securities exchange, bought a stake in Bolsa Mexicana de Valores SAB as it expands its relationship with regional bourses.
April 6, 2016--Middle class economics means that Americans should be able to retire with dignity after a lifetime of hard work. But today, the rules of the road do not ensure that financial advisers act in their clients' best interest when they give retirement investment advice.
Instead, some firms incentivize advisers to steer clients into products that may have higher fees and lower returns. These conflicts of interest in retirement advice cost America's families an estimated $17 billion a year.
April 5, 2016--REX Shares, LLC (REX) today announced the launch of two exchange-traded funds (ETFs): the REX Gold Hedged S&P 500 ETF (NYSE Arca: GHS) and the REX Gold Hedged FTSE Emerging Markets ETF (NYSE Arca: GHE).
Both funds seek to allow for investors to diversify their portfolios by accessing exposure to gold without reducing equity allocations. The funds also can help protect against the risk of a weakening U.S. dollar through gold exposure.
Source: REX
April 4, 2016--Bats Global Markets, Inc. ("Bats"), a leading global operator of exchanges and services for financial markets, today announced the launch of its initial public offering of 11,200,000 shares of its common stock by certain Bats stockholders.
The initial public offering price per share is expected to be between $17.00 and $19.00.
Source: Bats Global Markets, Inc.
expands innovative strategic beta suite with two currency-hedged equity ETFs
April 4, 2016--J.P. Morgan Asset Management today announced the expansion of its strategic beta suite with the launch of two new funds, JPMorgan Diversified Return Europe Currency Hedged Equity ETF (JPEH) and JPMorgan Diversified Return International Currency Hedged Equity (JPIH).
Similar to JPMorgan Diversified Return Europe Equity ETF (JPEU) and Diversified Return International Equity ETF (JPIN), JPEH and JPIH offer a risk-managed approach to investing that can allow investors to capture most of the upside with a goal of providing less volatility in down markets.
Highlights of the Prior week-For the week of March 28-April 1
April 4, 2016--A funny thing happened on the way to the quarter end; the tight correlation between WTI and the equity market appears to be broken as their fortunes diverged sharply last week with
the S&P 500 rallying 1.81% while West Texas Intermediate Crude fell 7.70%; more than 4% on Friday alone.
The rally last week lifted the broad market into positive territory
for the quarter; 1.50% for Dow Jones Industrial Average and 77 basis points for the S&P 500 (plus another 55 basis points for the dividend).
Source: AdvisorShares
April 4, 2016--Executives from TD Asset Management Inc. (TDAM) will join Toronto Stock Exchange (TSX) to open trading this morning to celebrate the launch of their new exchange traded fund (ETF) business.
Last week, TDAM's six new passive ETFs began trading on TSX, including products designed to track the performance of Canadian fixed income markets as well as Canadian, U.S. and international equities.
Source: TMX Group
