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DB-Synthetic Equity & Index Strategy-North AmericaUS ETF Market Weekly Review -Equity led weekly inflows capturing$11.2bn in fresh new cash
November 18, 2014--Data in this report is as of Friday, November 14
November 18, 2014--Market and Net Cash Flows Review
US (S&P 500) edged higher by 0.39%; while, outside the US, the MSCI EAFE
(in USD) and the MSCI EM (USD) rose by 0.87% and 0.34%, respectively. In
the meantime, performance was mostly positive across US sectors. The
Technology (+1.86%) and the Consumer Discretionary (+1.82%) sectors
recorded the largest increases; meanwhile, Utilities (-3.04%) and Energy
(-2.03%) were the worst performing sectors. The DB Liquid Commodity Index
fell by 1.75%; similarly, the WTI Crude Oil fell by 3.60%; in the meantime, the
Agriculture sector (DB Diversified Agriculture Index), Gold, and Silver prices rose by 1.93%, 0.91%, and 3.30%, respectively.
Moving into other assetclasses, the 10Y US Treasury Yield remained flat for the week at 2.32%. Last but not least, Volatility (VIX) rose by 1.45% during the same period. The total US ETP flows from all products registered $12.0bn (+0.6% of AUM) of inflows during last week vs. $16.5bn (+0.9%) of inflows the previous week, setting the YTD weekly flows average at +$3.8bn (+$175.7bn YTD in total cash flows). Equity, Fixed Income, and Commodity ETPs experienced flows of +$11.2bn (+0.7%), +$0.8bn (+0.2%), and +$30mn (+0.1%) last week vs. +$15.3bn (+1.0%), +$1.5bn (+0.5%), and -$0.4bn (-0.8%) in the previous week, respectively. Among US sectors, Consumer Discretionary (+$0.4bn, +3.9%)
and Healthcare (+$0.3bn, +0.7%) received the top inflows, while Energy
(-$0.4bn, -1.1%) and Materials (-$0.2bn, -1.8%) experienced the largest
outflows.
Top 3 ETPs & ETNs by inflows: SPY (+$3.7bn), MDY (+$0.8bn), IVV (+$0.8bn).
Top 3 ETPs & ETNs by outflows: XLE (-$0.3bn), GLD (-$0.2bn), BWX (-$0.2bn).
New Launch Calendar: China Fixed-Income, US Corp Bonds, EM Internet &
Ecommerce, Cyber Security Industry.
There were four new ETFs listed during the previous week. The new products
offer exposure to all major segments of the Chinese fixed income markets
including sovereigns and high rated corporate bonds; intermediate maturity US corporate bonds; thematic exposure to internet and ecommerce sectors of EM
and cyber security industry.
Turnover Review: Floor activity decreased by 21.7%
Total weekly turnover decreased by 21.7% to $265.1bn vs. $338.7bn from the
previous week; furthermore, last week's turnover level was 7.4% below last
year's weekly average. Equity, Fixed Income, and Commodity ETPs turnover
decreased by $60.4bn (-20.3%), $12.1bn (-44.3%), and $0.8bn (-7.3%) during
the same period, respectively.
Assets under Management (AUM) Review: Assets increased by $18.3bn US ETP assets rose by $18.3bn (+1.0%) totaling $1.926 trillion at the end of the week. As of last Friday, US ETPs had accumulated an asset growth of +14.8% YTD. Assets for Equity, Fixed Income, and Commodity ETPs moved +$17.5bn, +$0.6bn, and +$0.2bn during last week, respectively.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-North America
Treasury International Capital Data For September
November 18, 2014--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2014. The next release, which will report on data for October 2014, is scheduled for December 15, 2014.
The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $55.6 billion.
Of this, net foreign private outflows were $46.1 billion, and net foreign official outflows were $9.5 billion.
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Source: US Department of the Treasury
AdvisorShares Active ETF Report: 5 New Sponsors Added in October
November 18, 2014--The number of actively managed funds increased to 118 as eleven new funds launched in October.
Fidelity now offers actively managed funds in addition to its recently launched indexed equity funds.
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Source: AdvisorShares
First Asset Expands its Successful Factor-Based ETF Family with the Launch of International Value and Momentum ETFs
November 18, 2014--First Asset Investment Management Inc. ("First Asset"), is pleased to announce the launch of two new exchange traded funds ("ETFs") that track indexes based upon Morningstar"s proprietary factor methodology.
First Asset Morningstar International Value Index ETF (TSX: VXM) and First Asset Morningstar International Momentum Index ETF (TSX: ZXM) have closed the initial offering of their units and will begin trading on the Toronto Stock Exchange ("TSX") today.
The ETFs are denominated in Canadian dollars and will be offered in CAD hedged...
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Source: First Asset
The Fund that Reshaped the Gold Market
Rise and Fall of GLD Exchange-Traded Fund Mirrors Metal's Appeal
November 17, 2014--The first U.S. exchange-traded fund to give investors a stake in gold was the fastest-growing financial product of its kind when it launched 10 years ago.
Today, SPDR Gold Trust, better known by its ticker symbol GLD...
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Source: Wall Street Journal
IMFSurvey Magazine:Mexico's Economy Shows Steady Growth Fueled by Key Reforms
November 17, 2014--Growth forecast at 2.4 percent for 2014, 3.5 percent for 2015
Ambitious structural reforms in key sectors will provide additional boost to economy
Strong linkages to U.S. economy could pose a risk to continued growth trajectory
Major reforms in the energy, telecommunications, education, and financial sectors have been designed to unlock potential growth in Mexico.
Major reforms in the energy, telecommunications, education, and financial sectors have been designed to unlock potential growth in Mexico.
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Source: IMF
PIMCO's Enhanced Short Maturity Active ETF Reaches Five Year Anniversary
The actively managed ETF, MINT, has returned 1.20 percent since 2009
November 17, 2014--PIMCO, a leading global investment management firm, marks the five-year anniversary of its first actively managed exchange-traded fund, the PIMCO Enhanced Short Maturity Active ETF, or MINT.
The ETF has returned 1.20 percent on an annualized basis after fees since its inception five years ago. The index, in contrast, returned only 0.07 percent since November 2009.
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Source: PIMCO
First Trust Gets Approval to Sell Two ETFs to Mexican Pensioners
November 17, 2014--First Trust, the sixth-largest U.S. issuer of exchange traded funds, last week won approval from La Comisiín Nacional del Sistema de Ahorro para el Retiro (CONSAR), the regulatory agency that oversees Mexico's pension investments, to sell two ETFs to pensioners in Latin America's second-largest economy.
With the approval, Illinois-based First Trust will be able to market the $1.27 billion First Trust Large Cap Value Opportunities AlphaDEX Fund (FTA) and the $1.5 billion First Trust Large Cap Core AlphaDEX Fund (FEX) to Mexico’s 51 million pensioners.
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Source: Yahoo Finance
PowerShares Rolls Out a New Diversified Commodity ETF (PDBC)
November 17, 2014--At a time when the greenback is marching higher, supported by an improving U.S. economy and rising rate concerns, launch of a commodity-focused ETF seems ill-timed since commodities normally carry an inverse relationship with the greenback.
Plus, a sluggish global backdrop will likely keep consumption low resulting in a rough stretch for commodities. The latest oil rout and continued decline in precious metals reinforce such downbeat sentiment over commodities.
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Source: Nasdaq.com
CFTC Commissioner Says Agency Has Authority Over Bitcoin Price Manipulation
November 17, 2014--A commissioner at the Commodity Futures Trading Commission said Monday that the agency was authorized to intervene with enforcement actions against price manipulation in bitcoin markets.
"It has not been tested, but I do believe we have the authority because if you think of any reasonable reading of our statute, bitcoin classifies as a commodity," said CFTC Commissioner Mark P. Wetjen...
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Source: Wall Street Journal
