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BlackRock income falls amid fund outflows
January 15, 2015-BlackRock is pushing a "third way" for investors amid a crisis of confidence in active fund managers and the relentless rise of passive investing.
The world's largest asset manager's latest quarterly results reflected a disappointing period for stockpickers, hit by poor performance fees from its hedge funds business and outflows from its active equity funds, even as its assets under management swelled to $4.65tn.
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Source: FT.com
U.S.-based stock funds post $4.1 billion outflows in week: Lipper
January 15, 2015--Investors in U.S.-based funds pulled $4.1 billion out of stock funds in the week ended Jan. 14, the second straight week of net outflows, data from Thomson Reuters' Lipper service showed on Thursday.
Exchange-traded funds, thought to represent the behavior of institutional investors, saw net outflows of $3.64 billion.
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Source: Reuters
American Beacon Advisors Announces Initiative To Launch NextSharesTM Exchange-Traded Managed Funds
Firm Is First Outside Licensee of NextShares
January 15, 2015--American Beacon Advisors, Inc. ("American Beacon"), an experienced provider of investment advisory services to institutional and retail markets, announced today it has entered into a preliminary agreement with Navigate Fund Solutions LLC ("Navigate"), a subsidiary of Eaton Vance Corp., to support the launch by American Beacon of a family of NextSharesTM exchange-traded managed funds.
American Beacon also announced that it has established the American Beacon NextSharesTM Trust (the "Trust") and filed an application with the U.S. Securities and Exchange Commission seeking exemptive relief to permit the firm to offer NextShares. The application incorporates by reference the terms and conditions of the exemptive order granted to Eaton Vance Management and related parties on December 2, 2014.
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Source: American Beacon Advisors
Regulators Want Data on Bond-Trade Fees
SEC, Others Scrutinize Markups Paid by Retail Bond Investors
January 14, 2015--As Sherry Dixon was researching her retirement in 2010, the 63-year-old home builder from Albuquerque, N.M., asked her broker to buy her municipal bonds for safety.
Two years later, she was shocked to learn that fees she had paid on some trades were far larger than she expected.
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Source: Wall Street Journal
U.S. House Approves Legislation Easing Dodd-Frank Provisions
January 14, 2015--House Republicans made one of their first attempts in the new Congress to roll back Dodd-Frank constraints on Wall Street, in what's poised to become a recurring battle with Democrats who oppose changing the law.
Today's 271-154 vote on legislation that would delay aspects of the Volcker Rule restriction on banks making risky investments followed a failed effort to advance the bill last week.
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Source: Bloomberg BusinessWeek
Direxion Debuts Lightly Leveraged ETFs
January 14, 2015--Leveraged ETFs have traditionally been the domain of aggressive traders, hedge funds, and other institutional investors with an above-average risk tolerance.
They have been introduced in variations that are typically two or three times the daily underlying or inverse price movement of a heavily traded index.
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Source: Nasdaq.com
SEC Adopts Rules to Increase Transparency in Security-Based Swap Market
Commission Also Proposes Additional Security-Based Swap Transaction Reporting Rules and Guidance
January 14, 2015--The Securities and Exchange Commission today adopted two new sets of rules that will require security-based swap data repositories (SDRs) to register with the SEC and prescribe reporting and public dissemination requirements for security-based swap transaction data.
Source: SEC.gov
New Study-Funds That Use Options-Growth (Part 1)
January 13, 2015--A new study -"Highlights of Performance Analysis of Options-Based Equity Mutual Funds, CEFs, and ETFs"-analyzed SEC-regulated investment companies that focus on use of exchange-listed options for portfolio management (options-based funds).
Key highlights of the study are summarized below, and for more analysis please visit www.cboe.com/funds.
CO-AUTHORS of the CBOE-commissioned study on behalf of INGARM are Keith Black, Ph.D., CAIA, CFA, Managing Director of CAIA (Chartered Alternative Investment Analyst Association) and Edward Szado, Ph.D., CFA, Assistant Professor of Finance, Providence College.
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Source: Matt Moran, CBOE
SEC Announces 2015 Examination Priorities
January 13, 2015--The Securities and Exchange Commission today announced its Office of Compliance Inspections and Examinations’ (OCIE) priorities for 2015 which focus on three areas: protecting retail investors, especially those saving for or in retirement; assessing market-wide risks; and using data analytics to identify signs of potential illegal activity.
"Our examination program collects information for the Commission on a range of important trends, issues, and risks,” said SEC Chair Mary Jo White. "OCIE helps us to maintain a strong presence with SEC registrants and to make a positive impact for the benefit of investors and our markets."
view the EXAMINATION PRIORITIES FOR 2015
Source: SEC.gov
ETFGI Press Release December 2014: United States
January 12, 2015--ETFs/ETPs listed in the United States end 2014 surpassing the 2 trillion US dollars in assets and gathering 245.7 billion US dollars a record level of net new assets according to research by ETFGI
ETFGI's research finds 2014 was a very good year for the ETF/ETP industry in the United States. Some highlights:
Assets invested in the ETF/ETP industry in the United States surpassed the US$2 trillion milestone at the end of 2014.
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Source: ETFGI
