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Canadian Institutions and Asset Managers Among World's Most Active, Sophisticated ETF Investors: Greenwich Report
New Study Reveals Majority of Institutional ETF Assets Are Strategic
Canadian Institutions Lead the U.S. and Europe in Fixed Income and Smart Beta ETF Use
January 20, 2015--Canadian institutional investors are increasingly using exchange-traded funds (ETFs) for strategic asset allocations, and are leading the world in the innovative application of ETFs to realize their investment strategies-even beyond equities-according to the Greenwich Associates 2015 Canadian Exchange-Traded Funds study.
In its third annual survey of institutional ETF use, sponsored by BlackRock Asset Management Canada Limited (BlackRock Canada), Greenwich Associates found that participating institutions hold just over one-fifth -21.2 per cent- of total assets in ETFs, while asset managers allocate on average more than a quarter of total assets under management to the funds. Despite that already-strong usage, nearly a third of those surveyed plan to increase their ETF allocations in the coming year.
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Source: BlackRock
Ropes & Gray Enhances ETF Capabilities
January 20, 2016--Ropes & Gray LLP announced that it has enhanced its exchange-traded fund (ETF) capabilities with the addition of Edward Baer, who has joined the firm's award-winning investment management practice as counsel in San Francisco.
Formerly the chief legal officer for BlackRock's U.S. iShares, Mr. Baer brings to Ropes & Gray's clients a deep familiarity with ETF and mutual fund governance and compliance, and related business and operational issues.
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Source: Ropes & Gray LLP.
Morgan Stanley-US ETF Weekly Update
January 19, 2016--US ETF Weekly Update
Weekly Flows: $2.8 Billion Net Outflows
Third Consecutive Week of Net Outflows
International-Emerging ETFs Lead Outflows
High-conviction ETF Recommendations Slide: No Changes
ETF Assets Stand at $1.9 Trillion, down 8% in 2016
Four ETF Launches Last Week
US-Listed ETFs: Estimated Flows by Market Segment
ETFs posted net outflows of $2.8 bln last week; third consecutive week of net outflows
Last week's net outflows were led by International-Emerging ETFs at $1.8 bln; conversely, Fixed Income ETFs posted net inflows of $1.9 bln, the most of any category we measured
Ten of the 15 categories we measured posted net outflows last week
ETF assets stand at $1.9 tln, down 8% in 2016
13-week flows remain positive among most asset classes; combined $64.7 bln in net inflows
US Large-Cap ETFs have posted $15.2 bln in net inflows over the last 13 weeks, the most of any segment that we measured; the next largest category, International-Developed ETFs, generated net inflows of $14.3 bln
Leveraged/Inverse and Currency ETFs are the two segments of the ETF market to have exhibited net outflows over the last 13 weeks, at a combined $698 mln
US-Listed ETFs: Estimated Largest Flows by Individual ETF
The SPDR S&P 500 ETF (SPY) posted net inflows of $1.2 bln last week, leading all ETFs
The iShares 7-10 Year Treasury Bond ETF (IEF) and the iShares 20+ Year Treasury Bond ETF (TLT) had a combined $1.6 bln in net inflows last week amid elevated equity market volatility
Notably, the Energy Select Sector SPDR (XLE), the largest energy ETF, had net inflows of $730 mln last week and $1.3 bln over the last 13 weeks
Conversely, the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and the SPDR Barclays High Yield Bond ETF (JNK) had a combined $1.8 bln in net outflows as both products trade in sympathy with oil prices
The iShares MSCI Emerging Markets ETF (EEM) exhibited net outflows of $928 mln last week; EEM is one of the primary ways that institutional investors gain access to emerging market equities via ETFs
The WisdomTree Europe Hedged Equity Fund (HEDJ) and the WisdomTree Japan Hedged Equity Fund (DXJ), two international currency hedged ETFs, had a combined $854 mln in net outflows last week
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Source: Morgan Stanley
Treasury hedges keep Vix becalmed
January 19, 2016--Market sell-off's impact on 'fear gauge' mitigated by bond buying.
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Source: FT.com
Cambria Investment Management Appoints Don Evans As Director Of Business Development
JAnuary 19, 2016--Cambria Investment Management, LP, the Los Angeles-based investment management firm, today announced the appointment of Don Evans as its Director of Business Development.
Mr. Evans will be responsible for the overall sales growth of Cambria's lineup of ETF portfolio strategies.
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Source: Cambria Investment Management
Purpose Investments Announces the Launch of the Innovative Purpose Premium Yield Fund
January 19, 2016--Purpose Investments Inc. ("Purpose Investments") is pleased to announce the launch of the Purpose Premium Yield Fund (TSX: PYF) (the "Fund").
The initial public offering of the Fund's ETF shares has closed and the ETF shares will commence trading on the Toronto Stock Exchange today under the ticker symbol "PYF".
ETF Securities Names Stan Kiang Director of Strategic Partnerships as Firm Continues U.S. Business Expansion
January 19, 2016--ETF Securities (US) LLC announced today that Stan Kiang has joined the firm as Director of Strategic Partnerships. In his new role, Mr. Kiang will focus on maintaining and expanding partnership opportunities with national accounts platforms and asset managers.
He will be based in San Francisco and report to Executive Director and Head of US, Steve Dunn.
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Source: ETF Securities (US) LLC
BMO Asset Management Inc. Announces Index Changes for Two BMO ETFs
January 18, 2016--BMO Asset Management Inc. (BMO AM) today announced changes to the underlying indices of BMO Equal Weight US Banks Index ETF (Ticker: ZBK) and BMO Equal Weight US Banks Hedged to CAD Index ETF (Ticker: ZUB).
Currently, ZBK tracks the performance of the Dow Jones U.S. Large-Cap Banks Equal Weight Total Stock Market Index and ZUB tracks the performance of the Dow Jones U.S. Large-Cap Banks Equal Weight Total Stock Market Index Canadian Dollar Hedged.
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Source: BMO Financial Group
Bank of Montreal Enters Robo-Advising Ahead of Other Lenders
January 18, 2016--BMO SmartFolio competes with Wealthsimple, other online rivals
Bank sees platform appealing to millennials, new investors
Bank of Montreal starts signing up customers for its automated low-fee investment-advice platform this week, making the lender the first of Canada's big banks to embrace a robo-advisory business.
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Source: Bloomberg
BMO Introduces SmartFolio, a Digital Portfolio Management Service to Help Canadian Investors
January 18, 2016--With the launch of SmartFolio, BMO now has one of the most extensive suites of investing services available to Canadians
The new offering provides a digital and hands-off approach that is aligned to individual investment objectives for those who have as little as $5,000 to invest
Service created with simplicity, intuitiveness and transparency as guiding design principles
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Source: BMO Financial Group
