Americas ETP News
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ETF firms reach out as fees rules arrive
June 26, 2015--Canada's financial advisers are bracing for some tough conversations with clients later this year when regulatory changes requiring greater fee transparency take effect, but the country's exchange-traded fund industry is highly motivated to help make those chats go smoothly.
From market leaders such as BlackRock Inc.'s iShares and Bank of Montreal to smaller players including First Asset and First Trust, ETF providers see a huge opportunity to grow assets under management by stepping up efforts to educate advisers about their low-cost offerings and help them understand how they can add value and continue to justify their roles as a conduit for sound investment planning.
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Source: The StarPhoenix
Morningstar Introduces Active/Passive Barometer to Measure Relative Performance of Active Fund Managers against Passive Peers
June 25, 2015--Morningstar, Inc., a leading provider of independent investment research, today introduced an Active/Passive Barometer to help investors measure the relative performance of active U.S. fund managers against passive U.S. funds within their respective Morningstar categories.
Morningstar's manager research analysts presented the new report at the 27th annual Morningstar Investment Conference for financial advisors in Chicago.
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Source: Morningstar, Inc
ProShares Launches Currency Hedged Europe and Japan ETFs
Expenses are half of those of similar ETFs
June 25, 2015--ProShares, a premier provider of alternative ETFs, today announced the launch of two currency hedged equity ETFs: ProShares Hedged FTSE Europe ETF (HGEU) and ProShares Hedged FTSE Japan ETF (HGJP). Both are listed on NYSE Arca.
"Investors have poured billions of dollars into currency hedged ETFs to gain exposure to foreign equities while being hedged against local currency risk," said Michael L. Sapir, cofounder and CEO of ProShare Advisors LLC, the advisor to ProShares. "With this launch today, investors who desire the benefits of currency hedged ETFs now have the option of obtaining them at a substantially lower cost than similar ETFs in the market."
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Source: MarketWatch
Hull Tactical Asset Allocation Launches its First ETF Product
Hull Tactical US ETF, an actively managed product providing risk-adjusted equity exposure, now on the market-
June 25, 2015--Hull Tactical Asset Allocation, LLC ("HTAA"), announces the launch of the Hull Tactical US ETF ("HTUS"), an actively managed exchange traded fund ("ETF") designed by industry veteran Blair Hull.
The ETF is designed to deliver hedge fund-type management and trading tactics to a broad investor audience.
Working in partnership with Exchange Traded Concepts, LLC, the white-label ETF issuer platform, the team at HTAA believes that the Hull Tactical US ETF will be attractive as the market for institutional-quality equity products continues to grow.
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Source: Hull Tactical Asset Allocation, LLC
AdvisorShares Weekly Market Update
For the week of June 15-June 19
June 25, 2015--Last Week; Where Do We Even Start?
Macro
Last week was challenging in markets for the large decline in China and the latest twists and turns in the Greek Tragedy and it was also challenging outside of markets for the senseless killing of nine parishioners at the Emanuel African Methodist Episcopal Church in Charleston, South Carolina.
And somewhere in between market and non-market news is that the Wall Street
Journal intends to dismiss a large portion of its personal finance
staff at a time when arguably the need for personal finance content and education has never been greater.
Despite the volatility in the headlines, US equity markets had limited swings with the Dow Jones Industrial Average gained 0.63%, the S&P 500 added 73 basis points while NASDAQ went up 1.27% and the Russell 2000 led the way with a 1.62 rally.
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Source: AdvisorShares
Senate panel offering no money for DOL fiduciary ru
June 25, 2015--A Senate Appropriations Committee budget bill approved Thursday doesn't allow any money for the Department of Labor to finalize its proposed fiduciary rule.
The vote was 16-14, with all Democrats opposing it. The measure was included "to restrain regulatory overreach by the administration," a committee statement said.
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Source: Pensions & Investments
Worried About Debt-Market Liquidity? Sell Those Bank Bonds
June 25, 2015--If rising interest rates prompt investors to flee debt markets, bank bonds could be the hardest hit among corporate securities, according to Bank of America Corp.
"We're now moving into an environment of outflows, which means a lot of investors are going to have to sell bonds for an extended period of time," Hans Mikkelsen, head of U.S. investment-grade credit strategy at Bank of America Merrill Lynch, said in a telephone interview
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Source: Bloomberg
CBO-China's Growing Energy Demand: Implications for the United States: Working Paper 2015-05
June 25, 2015--Growing rapidly in recent decades, China's demand for energy has nearly doubled since 2005-making China the world's largest consumer of energy. That growth and the energy policies that China pursues increase the level and possibly the volatility of some energy prices, reduce the competitiveness of U.S. manufacturing firms in relation to Chinese firms but provide benefits for U.S. consumers, and increase greenhouse gas emissions.
This paper examines trends in China's energy consumption, the implications of those trends for U.S. households and businesses, and policy options that might help minimize adverse effects.
view the China's Growing Energy Demand: Implications for the United States
Source: Congressional Budget Office (CBO)
CFTC Swaps Report Update
June 24, 2015--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
OFR Financial Stability Update: Risks Remain Moderate
June 24, 2015--The U.S. Office of Financial Research released today an update to its assessment of threats to financial stability, concluding that overall risks to financial stability remain moderate.
"The current moderate level of threats to financial stability should not be cause for complacency," said OFR Director Richard Berner. "Our analysis suggests the need to remain vigilant about emerging threats."
OFR concerns about such threats continue to include increased risk taking in a climate of persistently low interest rates, fragile and fragmented market liquidity in some securities markets, and continued migration of financial activity outside the banking system. The OFR cited these risk themes in its 2014 Annual Report.
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Source: Office of Financial Research (OFR)
