Americas ETP News
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First Bridge Data-'ETF 20/20' Report: January 2015
January 20, 2015--The monthly 'ETF 20/20 ' report analyzes recent Exchange Traded Fund (ETF) trends in the US, using data from the First Bridge global ETF database. This month's report looks back at the 5 key developments for US ETFs in 2014.
1. ETFs crossed $2T in assets: US ETF assets crossed this milestone in 2014, driven by a 6 year bull market in US equities and by a secular shift towards ETF usage.
2. 'Smart Beta' adoption continued: There were more 'smart beta' ETF launches in 2014 (32% of total) than 'traditional beta' and active ETF launches.
Low volatility, dividend, equal weighting and pure growth strategies all outperformed traditional market cap weighting in the US large cap equity space in calendar year 2014.
3. Crude oil plunged: The most significant macro economic development of last year, it resulted in energy related ETF categories (Russia, Crude oil futures, Nat gas futures) being the worst performing in 2014, and had knock on effects such as the divergent performance between investment grade and high yield corporate bond ETFs.
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Source: First Bridge Data
First Asset Active Credit Fund Completes Merger with First Asset Active Credit ETF
January 19, 2015--Further to its press release on January 13, 2015, First Asset Investment Management Inc. (the "Manager") announces that the merger of First Active Credit Fund (formerly, First Asset Yield Opportunity Trust) (TSX: FAY.UN and FAY.U)
(the "Fund") with First Asset Active Credit ETF (the "First Asset ETF") was completed and the First Asset ETF will commence trading on the Toronto Stock Exchange later today under the ticker symbols FAO and FAO.U.
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Source: First Asset
Money Managers Led by Fidelity Close to Launch of Dark Pool
Effort Involves 9 Firms Including BlackRock, J.P. Morgan and BNY Mellon
January 19, 2015--Big money managers led by Fidelity Investments are close to launching a private trading venue designed to let them buy and sell large blocks of stock without the involvement of Wall Street firms and high-speed traders, according to people familiar with the matter.
Nine firms including BlackRock Inc., Bank of New York Mellon Corp. , J.P. Morgan Chase & Co. and T. Rowe Price Group Inc., are forming a company that will operate a “dark pool”—a private trading venue in which activity takes place outside of the public view—the people said.
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Source: Wall Street Journal
Eaton Vance signs first client for nontransparent ETPs
January 18, 2015--American Beacon has inked a deal with Eaton Vance's Navigate Fund Solutions subsidiary to use the NextShares model for its own line of nontransparent exchange traded products.
Fort Worth, Texas-based American Beacon is the first third-party manager to license the NextShares brand and technology.
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Source: FT.com
Pimco takes $200bn hit in outflows
January 17, 2015-Pimco's assets under management fell 16 per cent in the fourth quarter of 2014, as the company dealt with the fallout of the departure of its founder Bill Gross.
The company was managing $1.27tn of client money at the end of December, compared to $1.47tn at the end of September.
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Source: FT
AdvisorShares Announces the Closure of Two of Its Four Currency Hedged Gold ETFs
January 16, 2015--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today the consolidation of its 40 Act Currency Hedged Gold ETF suite.
The AdvisorShares Gartman Gold/Euro ETF (NYSE Arca: GEUR) and the AdvisorShares Gartman Gold/Yen ETF (NYSE Arca: GYEN) backed by their ongoing growth and investor interest will remain open for new shareholders.
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Source: AdvisorShares
PowerShares Canada to terminate two ETFs
January 16, 2015--PowerShares Canada today announced that it will terminate PowerShares S&P/TSX Composite High Beta Index ETF ("THB") and PowerShares S&P 500 High Beta (CAD Hedged) Index ETF ("UHB") [the "ETFs"] effective the close of business on or about April 6, 2015.
Effective close of business March 20, 2015, no further direct subscriptions for units of the ETFs will be accepted by PowerShares Canada.
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Source:Invesco Canada Ltd.
Listing requirements for ETFs
TSX proposals would introduce listing requirements for ETFs, closed-end funds and structured products
January 16, 2015--The Toronto Stock Exchange (TSX) is proposing to introduce listing requirements for the growing crop of non-corporate issuers, such as exchange traded funds (ETFs), closed-end funds, and structured products.
The exchange has published a set of proposed rule amendments for comment that would introduce listing requirements for exchange-traded products (including both ETFs and exchange-traded notes (ETNs)), structured products, and closed-end funds. In a notice detailing the proposals, the TSX indicates that the ranks of ETF providers has been growing in recent years, and it expects more to enter the market in the years ahead.
view the TORONTO STOCK EXCHANGE REQUEST FOR COMMENTS AMENDMENTS TO TORONTO STOCK EXCHANGE COMPANY MANUAL
Source: Investment Executive
AdvisorShares Weekly Market Update-Job Report Sends Mixed Signals
For the week of December 29-January 2
January 15, 2015--The non-farms jobs report delivered 252,000 new jobs created with the headline unemployment rate dropping to 5.6%.
The broader U6 measure down ticked to 11.2% In 2014 there was
a total of 2.9 million new jobs for the calendar year which was the most for one year since 1999. On the negative side, average hourly earnings decreased by 0.2% and the labor force participation rate fell 62.7%.
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Source: AdvisorShares
Fee Rate Advisory #3 for Fiscal Year 2015
January 15, 2015--The Securities and Exchange Commission today announced that starting on Feb. 14, 2015, the fee rates applicable to most securities transactions will be set at $18.40 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $22.10 per million for transactions occurring on charge dates through Feb. 13, 2015, and a rate of $18.40 per million for transactions occurring on charge dates on or after Feb. 14, 2015.
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Source: SEC.gov
