Americas ETP News
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Simplify Launches No K-1 Actively Managed Commodity Strategy ETF (HARD)
March 28, 2023--Fund is designed to be a long-only commodity replacement, while still providing the enhancements of a systematic long/short managed futures strategy
Simplify Asset Management ("Simplify"), an innovative provider of Exchange Traded Funds ("ETFs"), is today announcing the launch of the Simplify Commodities Strategy No K-1 ETF (NYSE Arca: HARD).
HARD is designed to play a number of key roles in an investor's portfolio, including as both a core commodity holding and as an inflation hedging vehicle.
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Source: Simplify Asset Management
Fintech Note-The Rise and Impact of Fintech in Latin America
March 29, 2023-Summary:
In the past decade, fintech has shaken up the financial sector in Latin America providing innovations in lending, payments, insurance, and regulation and compliance. This paper examines this development by focusing on both fintech services and regulation.
Exploring fintech's macro-critical impact using country-and bank-level data, we find that booming financial technologies in Latin America have helped boost competition in the banking sector and inclusion.
Additionally, we demonstrate that fintech firms in Latin America experienced robust growth even during the pandemic supported by external funding. Finally, we discuss how regulators are addressing the risks associated with financial technologies and how they are leveraging fintech tools in their supervisory activities.
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Source: imf.org
CBO Releases Infographics About the Federal Budget in Fiscal Year 2022
March 28, 2023--Each year, CBO releases a set of four budget infographics that provide a detailed look at the past fiscal year as well as broader trends over the past few decades. Today, CBO published the latest infographics showing the federal budget results in fiscal year 2022.
These infographics help people understand how much the government spends and takes in each year and what programs and revenue sources account for the largest portions of those budgetary flows.
The Federal Budget in Fiscal Year 2022 Mandatory Spending in Fiscal Year 2022 Discretionary Spending in Fiscal Year 2022 Revenues in Fiscal Year 2022
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Source: CBO(congressional Budget Office)
IMF Staff Country Report-Columbia
March 23, 2023--A. The Policy Response to Previous High Inflation and Low Growth
Episodes
1. Colombia, as many other emerging market economies, has been particularly susceptible to shocks that pushed inflation above central bank targets and lowered growth.
These shocks have often given rise to monetary policy tradeoffs, as the central bank must balance the need to increase the policy rate to address inflationary pressures and prevent inflation expectations from becoming unanchored against the need to support growth to offset negative income effects of terms of trade shocks or other supply shocks. The magnitude of these trade-offs tends to be larger in economies in which inflation expectations are not well anchored (Bems and
others, 2021 and IMF, 2018a).
2. The monetary and fiscal policy response to shocks has varied across countries depending on the strength of their policy frameworks. Empirical analysis using a panel VAR framework (PVAR) based on a sample of 24 inflation targeting small-open economies from 2000-21 (quarterly), including Colombia, shows that terms-of-trade shocks (which often move inflation and growth in opposite directions) have been accompanied by a tightening in monetary policy, particularly in countries with the largest deviation between medium-term inflation expectations and the central bank target.
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Source: imf.org
Blue Tractor Group Announces Licensing agreement with F/m Investments
March 22, 2023--Blue Tractor Group-a leader in the semi-transparent, actively managed ETF space- today announced it has entered into a licensing agreement with F/m Investments ("F/m"), an affiliate of The Diffractive Managers Group, a multi-affiliate asset manager and centralized distribution platform whose affiliates manage more than $20 Billion in total AUM.
This collaboration between F/m and Blue Tractor will be spearheaded by Diffractive affiliate North Slope Capital, an ETF company with expertise in issuing and marketing white-label ETFs. Since its creation in August of 2022, North Slope has launched five ETFs and raised approximately $1 billion of AUM.
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Source: Blue Tractor Group, LLC
U.S. SEC threatens to sue Coinbase over some crypto products
March 22, 2023-- The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange's products, turning up the heat on the largely unregulated sector.
Shares of Coinbase dropped nearly 13% to $67.33 in extended trading after the company said on Wednesday that the regulator had issued it a Wells notice-a formal declaration that SEC staff intend to recommend an enforcement action.
The potential enforcement actions would be tied to aspects of Coinbase's spot market as well as its Earn, Prime and Wallet products, the company said.
The SEC has been ratcheting up efforts to crack down on the crypto industry since the implosion of FTX last year, and staking services such as Coinbase's Earn are under increased scrutiny for not being registered.
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Source: reuters.com
Bitwise Launches BITC, a New Type of Bitcoin-Linked ETF Designed for Long-Term Investors
March 21, 2023--The strategy, which leverages decades of research on commodities pricing, seeks to mitigate contango for long-term investors by investing selectively in bitcoin futures across the entire futures curve
Bitwise Asset Management, one of the world's leading crypto asset managers, today announced the launch of the Bitwise Bitcoin Strategy Optimum Roll ETF (ticker: BITC).
The fund was built to offer investors regulated, professionally managed exposure to bitcoin with a unique design that minimizes pricing inefficiencies that can emerge in bitcoin-linked ETFs focused on front-month or near-month futures contracts.
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Source: Bitwise Asset Management
J.P. Morgan Asset Management Launches JPMorgan Active China ETF (JCHI)
March 16, 2023--The newest active ETF offering focuses on China equities
J.P. Morgan Asset Management announced today the launch of its newest active ETF, the JPMorgan Active China ETF (JCHI).
The Fund is designed to provide investors with access to a "best ideas" portfolio of Chinese equities and focuses on an investment process driven by bottom-up stock selection, while being mindful of macro and policy considerations.
The Fund is managed by JPMorgan Asset Management (Asia Pacific) Limited, and comprehensively leverages the Greater China research team within J.P. Morgan's Emerging Markets and Asia Pacific (EMAP) Equities team which has an extensive local research footprint that seeks to identify high-conviction ideas. It is priced at 65 basis points.
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Source: J.P. Morgan Asset Management
Multisector Floating Income ETF Launched by American Century
March 16, 2023--Today, American Century Investments(R) launched a new Exchange Traded Fund (ETF). American Century Multisector Floating Income ETF (FUSI) is now listed on the New York Stock Exchange (NYSE) and is the latest addition to the $211 billion* asset manager's active ETF lineup.
"FUSI compliments our current ETF income offerings, Short Duration Strategic Income ETF (SDSI) and American Century Multisector Income ETF (MUSI), by adding a floating rate product to the suite that is primarily focused on high credit quality," said Sandra Testani, vice president, ETF product and strategy. "We believe a diversified floating rate mandate has the potential to mitigate downside risk and increase income, and we are excited to offer this on our ETF platform."
SEC Proposes New Requirements to Address Cybersecurity Risks to the U.S. Securities Markets view more
Source: American Century Investments
March 15, 2023--The Securities and Exchange Commission today proposed requirements for broker-dealers, clearing agencies, major security-based swap participants, the Municipal Securities Rulemaking Board, national securities associations, national securities exchanges, security-based swap data repositories, security-based swap dealers, and transfer agents (collectively, "Market Entities") to address their cybersecurity risks.
I am pleased to support this proposal because, if adopted, it would set standards for Market Entities' cybersecurity practices," said SEC Chair Gary Gensler. "The nature, scale, and impact of cybersecurity risks have grown significantly in recent decades. Investors, issuers, and market participants alike would benefit from knowing that these entities have in place protections fit for a digital age. This proposal would help promote every part of our mission, particularly regarding investor protection and orderly markets."
Source: SEC.gov
