Americas ETP News
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Exchange issue strikes Merrill Lynch, Vanguard ETF performance
Analysts say price discrepancies are a reminder for advisers to use best practices when trading the funds
April 8, 2015--Advisers and investors this month are seeing surprising and, in many cases, misleading first-quarter returns as a result of a trading-exchange glitch that affected some heavily used exchange-traded funds
As a result of the computer-server difficulties on March 31 at the New York Stock Exchange Arca, the typical amount of information about buyers and sellers around the time the market closed was not provided, according to traders.
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Source: Investment News
Deutsche X-trackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) Increases Creation Limit
April 7, 2015--Deutsche Asset & Wealth Management (Deutsche AWM) today announced that the Deutsche X-trackers Harvest CSI 500 China A-Shares Small Cap ETF (NYSE Arca:ASHS) will increase the number of creation units that it will accept from one creation to five creations per day, effective on trade date April 8, 2015.
Launched in May 2014, ASHS is one of the first US-listed ETF to provide investors with direct access to small cap China A-shares equities.
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Source: Deutsche Asset & Wealth Management
Horizons ETFs Launches the Horizons US 7-10 Year Treasury Bond ETF
April 7, 2015--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is pleased to announce the launch of the Horizons US 7-10 Year Treasury Bond ETF ("HTB"), which will provide investors with low-cost and tax-efficient exposure to the U.S. mid-term treasuries market.
Units of the ETF will begin trading tomorrow on the Toronto Stock Exchange ("TSX") in Canadian dollars under the ticker symbol "HTB" and in U.S. dollars under the ticker symbol "HTB.U".
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Source: Horizons ETFs Management
ETF liquidity: will it be illusory in volatile markets?
April 7, 2015--An April 5th article in the FT by Stephen Foley,"The alchemy of ETF liquidity is an illusory promise" (sorry, behind the pay wall) was pretty interesting. But the real story is an investor letter by Oaktree Capital's Howard Marks called "Liquidity" that was cited by the article.
We take a look.
Foley focuses on the use of Exchange Traded Funds (ETFs) as a proxy to buying baskets of individual assets. ETF have grown in popularity exponentially; one reason is that they trade throughout the day versus mutual funds that can be bought or sold at a single end of day price. This creates the look and feel of liquidity
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Source: secfinmonitor.com
US's Highland packs pipeline with ETFs
April 7, 2015--In a bid to expand its retail presence, Highland Capital Management has launched a platform that unifies its research, risk management and investment processes for liquid alternative mutual funds.
The platform, called Highland Alternative Investors, is being used to promote the Dallas-based firm's existing liquid alt funds, but Highland also plans to use it to help launch more products in the space.
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Source: FT.com
SEC Reviewing 12b-- Fees
April 7, 2015--The Securities and Exchange Commission is currently reviewing as part of its exam cycle the entire spectrum of 12b-1 fees
Marc Wyatt, deputy director of the agency's Office of Compliance Inspections and Examinations, said Tuesday.
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Source: Think Advisor
BNY Mellon ADR Index Monthly Performance Update-March 2015
April 7, 2015--The BNY Mellon ADR Index Monthly Performance Update-March 2015 is now available.
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Source:BNY Mellon
Vanguard Launches Robo Adviser, Sort Of
Just don’t call it a "robo adviser."
April 6, 2015--New Web-based service will combine human and automated assistance
For the past two years, the giant mutual-fund firm Vanguard Group has been testing an adviser service that combines aspects of Web-based advice and investment-modeling algorithms with traditional human contact.
It is called Vanguard Personal Advisor Services, and a company spokeswoman says it will be launched to all Vanguard clients sometime this spring.
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Source: Wall Street Journal
Morgan Stanley Veteran Jacob Dienelt Joins Bitcoin 2.0 Startup
April 6, 2015--Jacob Dienelt is the latest Morgan Stanley veteran to leave Wall Street and join the Bitcoin industry.
Following the likes of former JPMorgan Chase executive Blythe Masters and former JPMorgan Managing Director Paul Camp, Dienelt has made the move from traditional banking at Morgan Stanley Private Wealth Management to join the emerging digital currency industry as head treasurer of Factom .
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Source: bitcoinmagazine.com
Lightly Leveraged ETFs Still Cause Concerns
Some analysts, regulators worry that Direxion's new funds could burn some investors
April 6, 2015--Like a brewer selling a light beer, Direxion Investments is hoping its lightly leveraged exchange-traded funds will appeal to a wider audience than its more-intense versions.
But the Financial Industry Regulatory Authority, Wall Street's self-regulator, and investment-research firm Morningstar Inc. still view the funds as complex instruments that could trip up some investors.
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Source: Wall Street Journal
