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Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for November 2014
December 12, 2014--Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for November 2014. Among U.S. equity funds, the pattern of outflows for actively managed funds and inflows for passive funds continued.
Over the trailing one-year period, active U.S. equity funds lost $91.9 billion, and passive U.S. equity funds gathered $156.1 billion. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Additional highlights from Morningstar's report about U.S. asset flows in November:
Active taxable-bond funds collected $5.6 billion in November after outflows of $18.7 billion in September and $23.1 billion in October, although most of those outflows were attributable to redemptions from PIMCO Total Return and not representative of the category group in general. Meanwhile, passive taxable-bond funds had inflows for the 12th consecutive month.
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Source: Morningstar, Inc
CFTC.gov Commitments of Traders Reports Update
December 12, 2014--The current reports for the week of December 09, 2014 are now available.
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Source: CFTC.gov
First Bridge Data-'ETF 20/20' Dec Report: The ETMF gets approved, Crude Oil plunges
December 12, 2014--Key Highlights
Our monthly 'ETF 20/20' report analyzes recent Exchange Traded Fund (ETF) trends in the US, using data from the First Bridge global ETF database.
ETF assets ended November 2014 at $1.987T, close to the significant $2T milestone, reinforcing the secular shift towards ETF adoption by investors.
The price of Crude Oil dropped to $65.9/bbl as of end November 2014, the lowest level since May 2010. It has benefited ETFs of energy intensive sectors (e.g. airlines), while putting pressure on energy ETFs and net energy exporters (e.g. Russia).
The SEC approved an application by Eaton Vance for a possible new structure-the Exchange Traded Mutual Fund (ETMF), a hybrid between ETFs and mutual funds.
Real estate will become a separate sector in the GICS industry framework in 2016.
12 new ETFs were launched in the US in November 2014.
Biotech, Indian small cap's and coffee futures were among the best performing ETF categories by total returns in the trailing 12 months, while energy related ETPs (crude oil, natural gas and Russian small caps) were the worst.
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Source: First Bridge Data
Morgan Stanley-Introduction to ETFs: Market Strategies & Applications
December 12, 2014--The Morgan Stanley Wealth Management Introduction to ETFs: Market Strategies & Applications report is now available.
The report provides an introduction to ETFs, highlights ETF growth and applications, as well as high conviction ideas.
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Source: Morgan Stanley
Horizons files with the SEC
December 12, 2014--Horizons has filed a post-effective amendment, registration statement with the SEC.
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Source: SEC.gov
Invesco PowerShares Provides Estimated Capital Gains Information for 2014
December 12, 2014--Invesco PowerShares Capital Management, LLC, a leading global provider of exchange-traded funds (ETFs), announced today that it expects to deliver capital gains distributions across 9 of 116 equity and fixed-income ETFs for 2014.
"For another year, the majority of Invesco PowerShares' product line did not have capital gains distributions." said Dan Draper, Managing Director and Head of Invesco PowerShares.
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Source: Invesco PowerShares Capital Management LLC
United Nations backs BlackRock, State Street low carbon funds
December 11, 2014--The United Nations said Thursday it provided the initial funding for two new exchange-traded funds from BlackRock Inc and State Street Corp that invest in companies with low carbon emissions.
Both the iShares MSCI ACWI Low Carbon Target ETF and SPDR MSCI ACWI Low Carbon Target ETF were seeded by the United Nations Joint Staff Pension Fund, which has about $53 billion in assets.
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Source: Reuters
Asset managers could face tighter supervision under new plan: SEC
December 11, 2014--The top U.S. securities regulator laid out a plan on Thursday to tighten supervision of large asset managers, saying more must be done to identify the risks the firms could pose and to protect markets in the event of a major crisis.
Securities and Exchange Commission Chair Mary Jo White announced a three-pronged plan in a major policy speech at The New York Times Dealbook conference in New York.
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Source: Reuters
AdvisorShares Weekly Market Update-Great Jobs Report, Equities Don't Care
December 11, 2014--Highlights of the Prior week-For the week of December 1-December 5
Macro
The monthly non farms jobs report hit on Friday and was a monster. The report showed 321,000 new jobs with the
headline (U3) unemployment rate holding steady at 5.8% while the broader U6 moved down one tick to 11.4%.
Oddly the labor force participation rate remained at a 36 year low of 62.8%.
The blowout jobs number was not enough to move the needle for domestic equities which were generally up a little. The Dow Jones Industrial Average was up 0.73% for the week, the S&P 500 up 0.38% and the Russell 2000 added 0.78% with only the NASDAQ finishing in the red, down 0.23%.
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Source: AdvisorShares
Cambria Launches Global Asset Allocation ETF With A 0.00% Management Fee
December 10, 2014--The Cambria ETF Trust and its investment manager, Cambria Investment Management, LP, today launched the Cambria Global Asset Allocation ETF (Ticker: GAA). This marks the first ETF on the U.S. market to charge a permanent 0% management fee.
GAA trades on the NYSE Arca exchange.
GAA is comprised of other underlying ETFs and seeks to replicate a true global market portfolio, investing in a basket of U.S. and foreign equities, bonds, real estate, commodities, and currencies.
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Source: Cambria Investment Management, LP
