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ETF Securities and Scientific Beta launch two Diversified-Factor Equity Exchange Traded Funds
First Diversified-Factor ETFs to provide exposure to US and European equities in the US
Uses Scientific Beta index methodologies
January 28, 2015--ETF Securities, one of the world's leading, independent providers of Exchange-Traded Products (ETPs) has launched two new Exchange Traded Funds (ETFs) based on Scientific Beta's multi-factor, multi-strategy indices.
The new ETFs are the ETFS Diversified-Factor U.S. Large Cap Index Fund (SBUS) and the ETFS Diversified-Factor Developed Europe Index Fund (SBEU).
Both products are listed on the New York Stock Exchange (NYSE). Scientific Beta is an index provider specializing in smart beta solutions and is part of the EDHEC Risk Institute, an entity that works closely with institutions to implement academic research and improve their investment and risk management process.
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Source: Scientific Beta
Federal Reserve Issues FOMC Statement
January 28, 2015--Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Labor market conditions have improved further, with strong job gains and a lower unemployment rate.
On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish. Household spending is rising moderately; recent declines in energy prices have boosted household purchasing power. Business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has declined further below the Committee's longer-run objective, largely reflecting declines in energy prices.
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Source: FBR
SIGTARP Report: January 2015 Quarterly Report to Congress on TARP
January 28, 2015--This morning, SIGTARP issued its January 2015 Quarterly Report to Congress on the Status of TARP.
view the SIGTARP Report: January 2015 Quarterly Report to Congress on TARP
Source: SIGTARP
Exclusive: Fixed income manager Sage Advisory for sale-sources
January 28, 2015--Fixed income manager Sage Advisory Services is up for sale, according to three sources familiar with the situation.
The Austin, Texas-based asset management firm, which manages $11 billion in private client and institutional assets, hopes to fetch around $100 million through a sale, according to two of the sources, all of whom wished to remain anonymous because they are not permitted to speak to the media.
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Source: Reuters
Cetera president blasts White House memo defending DOL fiduciary
Arguments continue on both sides about the merits of the memo and what it means for the standard's future prospects
January 27, 2015--An independent broker-dealer executive Monday sharply criticized a leaked White House memo that purports to show that sales incentives for financial advisers cost retirement savers billions of dollars annually, calling it "offensive" and saying that it demonstrated "ignorance" about the role of advisers.
The document "accuses all financial advisers of defrauding their clients," Adam Antoniades, president of Cetera Financial Group, told a Financial Services Institute conference audience of about 800 in San Antonio. "The ignorance displayed in the memo is quite shocking to me. It's frankly offensive."
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Source: Investment News
WisdomTree Expands Offering on Schwab ETF OneSource(TM)
January 26, 2015--WisdomTree Investments, Inc. (Nasdaq:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced that starting on February 1, 2015, it will add four additional WisdomTree ETFs to Schwab ETF OneSourceTM, which offers investors and advisors the most commission-free ETFs in the industry.1
With this addition, Schwab clients can buy and sell 10 WisdomTree ETFs, and purchases are subject to $0 online trade commissions and no early redemption fees or hidden costs.
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Source: WisdomTree
SEI Report: ETF Business Opportunities Are Rapidly Expanding As A New Generation Of Funds Emerge
Rise of Active ETFs Is Among Trends Shaping and Fueling "ETF 2.0"
January 26, 2015--Twenty years after their introduction in the investment industry, Exchange Traded Funds (ETFs) are evolving and gaining momentum more rapidly than in the past, according to the report "ETF 2.0: Six Trends Shaping the Next Generation," released today by SEI (NASDAQ:SEIC).
The report identifies six trends that could help push ETF assets to a projected $5 trillion by 2020. According to ETF.com, U.S.-listed ETF assets reached a record $2 trillion at the end of 2014 with record annual inflows of $244 billion. Flows to European ETFs also hit a new peak, rising to $61.4 billion for the year, more than three times the 2013 total.
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Source: SEI
Virtus Investment Partners to Acquire Majority Interest In ETF Issuer Solutions
January 26, 2015--Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, today announced an agreement to acquire a majority interest in ETF Issuer Solutions (ETFis), a New York City-based company that operates a platform for listing, operating, and distributing exchange-traded funds.
The transaction will provide Virtus with manufacturing capabilities for both active and passive ETFs, adding to its broad product line-up.
ETFis, founded in 2012, recently introduced the industry's first actively managed ETF investing exclusively in master limited partnerships, the InfraCap MLP ETF (NYSE: AMZA)1. It currently manages two other ETFs and has seven additional ETFs in registration with the Securities and Exchange Commission. All of the company's ETFs are managed by external subadvisers.
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Source: ETF Issuer Solutions Inc.
CBO-The Budget and Economic Outlook: 2015 to 2025
January 26, 2015--The federal budget deficit, which has fallen sharply during the past few years, is projected to hold steady relative to the size of the economy through 2018. Beyond that point, however, the gap between spending and revenues is projected to grow, further increasing federal debt relative to the size of the economy-which is already historically high.
Those projections by CBO, based on the assumption that current laws governing taxes and spending will generally remain unchanged, are built upon the agency's economic forecast. According to that forecast, the economy will expand at a solid pace in 2015 and for the next few years-to the point that the gap between the nation’s output and its potential (that is, maximum sustainable) output will be essentially eliminated by the end of 2017. As a result, the unemployment rate will fall a little further, and more people will be encouraged to enter or stay in the labor force. Beyond 2017, CBO projects, real (inflation-adjusted) gross domestic product (GDP) will grow at a rate that is notably less than the average growth during the 1980s and 1990s.
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Source: Congressional Budget Office (CBO)
Winklevoss twins expect first-quarter debut of bitcoin exchange
January 26, 2015--Winklevoss Capital, the firm run by Cameron and Tyler Winklevoss, expects to get regulatory approval to launch a U.S. exchange for investors to buy and sell the virtual currency bitcoin in the first quarter,
the twins told Reuters on Monday.
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Source: Reuters
