Americas ETP News
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Active stock fund managers load up on ETFs, scrimp on cash
May 22, 2015--If you can't beat them, buy them.
That's the theory underlying a move by a growing number of mutual fund managers at companies including T. Rowe Price and Eaton Vance to slip shares of indexed exchange traded funds into their actively managed fund portfolios.
Over the last five years-a period in which active fund managers have both underperformed and lost market share to ETFs-the number of actively-managed equity funds that hold ETFs in their top-10 holdings has jumped 174 percent, to a total of 148, according to Lipper data.
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Source: Reuters
Fixed-income ETFs find a place in advisors’ arsenal
May 22, 2015--New survey results suggest wealth managers of all types are turning to bond ETFs to quickly fill holes in their client portfolios.
"In the wake of the financial crisis, with bond issuance down and many fixed income trading partners pulling back from the markets, many institutions have found it difficult to execute trades and manage appropriate allocations in fixed income," commented Matt Tucker, Head of iShares Fixed Income Strategy for the Americas...
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Source: wealthprofessional.ca
Legislation would allow B-Ds to publish ETF research without fear of breaking securities laws
Bill proposed by former broker passes key committee, would raise competition with Morningstar
May 22, 2015--Legislation approved this week by the House Financial Services Committee would allow broker-dealers to publish ETF research reports without the reports being considered offers to buy shares in the ETF.
The measure was co-authored by Rep. French Hill, R-Ark., and Rep. John Carney, D-Del.
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Source: Investment News
First Trust cross lists First Trust Dorsey Wright International Focus 5 ETF in Mexico
An index-tracking ETF based on Dorsey Wright's systematic momentum strategy for sector rotation using their relative strength ranking system
May 22, 2015--First Trust Advisors L.P. ("First Trust") a global exchange-traded fund (ETF) provider and asset manager, announced that it has cross listed the First Trust Dorsey Wright International Focus 5 ETF (NASDAQ: IFV) on the Mexican stock exchange, Bolsa Mexicana de Valores (BMV).
The fund seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Dorsey Wright International Focus Five Index (the "index").
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Source: First Trust
ProShares Announces Change to ETF Lineup
May 22, 2015--ProShares announced today that it plans to close and liquidate ProShares Ultra Australian Dollar (GDAY). The ETF trades on NYSE Arca.
"We continually review our lineup of ETFs to ensure our products meet the changing needs of investors," said Steve Cohen, managing director and head of strategy for ProShare Advisors, LLC.
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Source: ProShares
ETF Strategists Lose Assets for Third Quarter in Row; Windhaven Retakes Top Slot
May 22, 2015--Windhaven Investment Management retook the pole position in Morningstar's first-quarter rankings of exchange-traded fund managed portfolios.
Managed portfolios strategists actively bundle together ETFs on behalf of clients, mostly financial advisers who delegate money-management duties.
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Source: Barron's
Low VIX Points to Tumble Ahead for Stocks, UBS Says
May 22, 2015--Investor concern about an impending drop in U.S. stocks, as measured by the CBOE Volatility Index, continues to plunge.
The VIX on Friday slumped 1% to 11.99 in recent trading, declining below 12 for the first time in 2015. The index is an options-based metric of the prices investors are willing to pay for insurance against declines in the S&P 500.
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Source: Barron's
ISE Announces Two New Board Members
May 21, 2015--The International Securities Exchange Holdings,Inc. today announced the addition of Eric Levine and Tyler Sorba to the Boards of Directors of its two exchanges.
Additionally, eight non-industry directors, two exchange directors, and the Chief Executive Officer director were re-elected.
ISE's Board of Directors consists of both exchange and non-industry directors as well as the CEO director. Of the exchange directors, each ISE membership type is represented by two directors on the Board who serve two-year terms.
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Source: International Securities Exchange Holdings,Inc.
How Firms Are Attracting Millennial Advisors
May 21, 2015--Despite all the talk about the aging financial advisor force, the industry still has a problem attracting and retaining young talent. But several Wall Street firms discussed their new techniques for bringing millennials into the business during a Securities Industry and Financial Markets Association seminar on Wednesday.
Speakers at the seminar quantified the aging advisor problem: a Cerulli study found the average advisor is older than 50; a third of advisors plan to retire in the next 10 years; and only 11 percent of advisors are under the age of 35. Just 5 percent are younger than 30.
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Source: Wealth Management
AdvisorShares Weekly Market Update:Time to Go Active
May 21, 2015--For the week of May 11-May 15
Macro
Last week the news was more volatile than the equity market.
The week started with a throwback story of an AOL merger..
Later in the
week came a fraudulent buyout offer of the other big multilevel marketing firm.
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Source: AdvisorShares
