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Exclusive: Eaton Vance to help cover broker costs on new ETFs
May 14, 2015--In an unprecedented move,, Eaton Vance Corp will offer to help some brokerages pay their technology costs to make the fund company's new breed of exchange-traded funds available to investors, Tom Faust, Eaton's chief executive officer, told Reuters this week.
The Boston-based company also plans to pay brokerage firms a share of the revenues from the sale of the funds, which Faust hopes will be available by year-end.
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Source: Reuters
Reminder: Direxion Investments to Execute Reverse and Forward Share Splits of 19 Leveraged ETFs
May 14, 2015--Direxion Investments will execute the previously announced reverse share splits for 8 of its leveraged exchange-traded funds ("ETFs"), as well as forward share splits for another 11 leveraged ETFs.
The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined in the original announcement.
8 Reverse Splits
Direxion will execute reverse splits of the shares of the Direxion Daily Brazil Bull 3X Shares (BRZU), Direxion Daily FTSE China Bear 3X Shares (YANG), Direxion Daily Natural Gas Related Bull 3X Shares (GASL), Direxion Daily Mid Cap Bear 3X Shares (MIDZ), Direxion Daily Latin America Bull 3X Shares (LBJ), Direxion Daily Russia Bear 3X Shares (RUSS), Direxion Daily Semiconductor Bear 3X Shares (SOXS), and Direxion Daily Technology Bear 3X Shares (TECS), effective at the open of the market on May 20, 2015.
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Source: Direxion
The Mexican Stock Exchange and S&P Dow Jones Indices Announce Agreement for Index Licensing, Distribution, and Management of BMV Indices
May 14, 2015--The Mexican Stock Exchange (BMV) and S&P Dow Jones Indices (S&P DJI), one of the world's leading providers of financial market indices, today announced that they have signed an agreement to license all of the BMV indices including their flagship index, IPC (Indice de Precios y Cotizaciones)-the broadest indicator of the BMV's overall performance.
A signing ceremony was conducted at the Exchange earlier today.
This agreement aims to achieve an integration of operational processes between the institutions, a business strategy which allows for the expansion of clients globally, and the development and licensing, distribution and administration of new indices.
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Source: S&P Dow Jones Indices
The Mexican Stock Exchange and S&P Dow Jones Indices Announce Agreement for Index Licensing, Distribution and Management of BMV Indices
May 14, 2015--The Mexican Stock Exchange (BMV) and S&P Dow Jones Indices (S&P DJI), one of the world's leading providers of financial market indices, today announced that they have signed an agreement to license all of the BMV indices including their flagship index, IPC (Indice de Precios y Cotizaciones)-the broadest indicator of the BMV's overall performance.
A signing ceremony was conducted at the Exchange earlier today.
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Source: S&P Dow Jones Indices
Global X Launches Family Of Scientific Beta ETFs Tracking Indexes Developed By EDHEC-Risk Institute
Funds seek to outperform benchmark indexes at a fraction of the cost of active management
May 13, 2015--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today launched a family of four ETFs based on EDHEC-Risk Institute's Scientific Beta indexes:
Global X Scientific Beta US ETF (SCIU)
Global X Scientific Beta Europe ETF (SCID)
Global X Scientific Beta Japan ETF (SCIJ)
Global X Scientific Beta Asia ex-Japan ETF (SCIX)
The Scientific Beta ETFs provide core equity exposure to the U.S., Europe, Asia ex-Japan and Japan.
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Source: Global X
Diamond Hill Launches New ETF
New fund tracks an index that seeks to outperform traditional market cap weighted indexes with a proprietary forward-looking methodolog
y based on "intrinsic value capitalization"
May 13, 2015--The Diamond Hill Valuation-Weighted 500 ETF
(NYSE: DHVW), a new Exchange Traded Fund (ETF) that uses an intrinsic value capitalization approach to track an
index seeking to outperform traditional broad-based market capitalization-weighted index funds, was launched May 12, 2015 by Diamond Hill Capital Management, Inc. ("Diamond Hill"), a subsidiary of Diamond Hi
ll Investment Group, Inc. (NASDAQ: DHIL). Diamond Hill is a leading indepe
ndent investment firm with approximately $16 billion in assets
under management (AUM).
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Source: Diamond Hill® Capital Management, Inc
WBI #1 in Active ETF Sales
May 13, 2015--With less than a year in the ETF business, WBI Shares is making a splash.
Through the first four months of 2015, WBI is #1 in Active ETF sales with an asset raise of well over $200 million.
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Source: WBI
BlackRock says regulators misunderstand securities lending risks
May 13, 2015--BlackRock Inc., on Wednesday pushed back against arguments by the New York Federal Reserve and other regulators that asset managers' securities lending operations may pose major risks to the market and may need greater oversight.
In a seven-page white paper seen by Reuters, the world's largest money manager says financial regulators misunderstand securities lending and are overstating its risks with regard to the industry as a whole, and BlackRock in particular.
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Source: Reuters
Hedge fund launches first ETF for Canadian heavy crude oil
May 12, 2015--The first exchange-traded fund tracking the price of Canadian heavy crude launched on Tuesday, enabling investors to gain exposure to the country's physical crude market and potentially boosting liquidity.
The Canadian Crude Oil Index ETF, issued by Calgary-based hedge fund manager Auspice Capital Advisors Ltd, will be based on the price of Western Canada Select heavy blend crude.
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Source: Reuters
Market Prophit Launches First Social Media Sentiment Stock Market Index
Investors Able to Get Pulse of the Crowd Sentiment through New Smart Beta Index
May 12, 2015--Market Prophit (www.marketprophit.com) an industry-leading provider of real-time stock market sentiment analysis of social media conversations has launched the first-of-its kind social media sentiment smart beta index.
The index will be calculated by S&P Dow Jones Indices based on their corporate actions data and Market Prophit's proprietary sentiment data. The index, which will be both real time as well as have end of day historical values, will be available on the Bloomberg Terminal under the ticker symbols CROWD, CROWDTR, and CROWDNTR (index price return, index total return, and index net total return) respectively.
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Source: Market Prophit
