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Morgan Stanley-ETFs Exhibited Net Inflows of $10.8 Billion in 1Q14
April 28, 2014--There were 52 new ETFs listed in the US in the first quarter of 2014 and one new provider entered the market. There were 19 liquidations
in 1Q14 as weaker ETFs exited the marketplace. An additional seven
ETFs have been launched since the end of 1Q14 and as of 4/23/14 there
were 43 issuers with 1,372 ETFs listed in the US.
Net inflows into US-listed ETFs were $10.8 billion during 1Q14. This
is well below the average quarterly rate of net inflows over the past three
years of $40.7 billion and is meaningfully below first quarter flows of the
past three years (averaged $43.2 billion in net inflows). Notably, global
equity markets were slightly positive in 1Q14.
The largest net cash inflows in the first quarter went into International -Developed ETFs. These ETFs had net cash inflows of $13.1 billion this past quarter, driven by European equity ETFs or those ETFs with significant European equity exposure. Fixed Income ETFs had the next highest inflows this past quarter at $10.0 billion amid a rally in long-term interest rates. Eight of the 10 ETFs to generate the largest net inflows in 1Q14 were equity-based.
US large-cap ETFs had the largest net outflows in the first quarter of 2014. Net cash outflows from these ETFs were $17.9 billion this past quarter. The SPDR S&P 500 ETF (SPY), the largest ETF, was the primary driver of the net outflows in this category. SPY exhibited net outflows of $20.3 billion in 1Q14. International-Emerging ETFs also struggled during 1Q14, posting net outflows of $12.3 billion.
Interestingly, International - Emerging ETF market share has declined to
8% from 11% over the past year.
US ETF industry assets of over $1.7 trillion. Despite the growth of the
ETF market, it remains concentrated with three providers and 20 ETFs
accounting for over 80% and 41% of industry assets, respectively.
request report
Source: Morgan Stanley
Can Short-Sellers Help ETFs?
A fund's bet against its own shares can enhance returns.
April 26, 2014--There's nothing wrong with a side business--so long as you're not shortchanging your primary focus.
Many exchange-traded funds make a little extra money every year lending their securities to short-sellers. Should investors be worried? Maybe--it depends on who's profiting, you or the fund company.
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Source: Barron's
Fidelity-BlackRock ETF deal working-to a point
Why Fidelity's foray into ETFs still has a long way to go
April 26, 2014--Fidelity Investments and BlackRock Inc. on Thursday gave the public a rare look-see at how their strategic ETF alliance has progressed in the last year, and the results show that Fidelity-a latecomer to exchange-traded funds-is starting to play catch-up in the ETF Wars while allowing iShares to remain the industry leader
thanks to the partnership.
Just over a year ago, the two investment giants dramatically expanded an existing program, allowing investors to trade in 65 of BlackRock's iShares exchange-traded products commission-free through Fidelity; over the past year...
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Source: MarketWatch
Vanguard chief defends high-frequency trading firms
April 25, 2014--The chief executive of Vanguard, which became the world,s largest mutual fund company by championing low costs for the small investor, has ridden to the defence of high-frequency trading firms and dismissed suggestions that the stock market is "rigged."
Bill McNabb's contribution to the increasingly shrill debate follows the publication last month of Michael Lewis's book...
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Source: CNBC.com
IMF-Regional Economic Outlook: Western Hemisphere-Rising Challenges
April 24, 2014--Global economic activity strengthened in the second half of 2013 and is expected to pick up further in 2014, led by a faster recovery in the advanced economies. World output growth is projected to increase from 3 percent in 2013 to slightly above 3½ percent in 2014 and nearly 4 percent in 2015.
Activity in the advanced
economies will be driven by a reduction of fiscal headwinds, except in Japan, and still highly accommodative
monetary conditions. Meanwhile, the momentum of growth in emerging market economies is likely to remain
subdued, reflecting tighter financial conditions and homemade weaknesses in some cases. Risks around the
outlook have diminished somewhat, but remain tilted to the downside, including because of more prominent
geopolitical risks.
view the IMF-Regional Economic Outlook: Western Hemisphere-Rising Challenges report
Source: IMF
Fidelity rolls out new ETF managed account with BlackRock
April 24, 2014--Fidelity Investments and BlackRock Inc, already partners in the exchange-traded funds market, are teaming up once again to launch a new ETF-heavy managed account aimed at providing income for investors preparing for retirement.
The new BlackRock Diversified Income Portfolio, which will be roughly 70 percent invested in ETFs, will be available beginning May 1 exclusively to the roughly 14 million retail customers who have Fidelity brokerage accounts, the company said on Thursday.
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Source: Reuters
BlackRock Starts ETF in Brazil to Follow S&P 500 Index
April 23, 2014--BlackRock Inc. (BLK) said it will list an exchange-traded fund on the Brazilian stock exchange to track the U.S. benchmark Standard & Poor's 500 Index.
The ETF will be the first listed in Brazil linked to the performance of stocks trading outside the country, BlackRock spokeswoman Melissa Garville said in an e-mailed statement. The ETF, to be called the iShares S&P 500 FIC FI Investimento no Exterior, will start trading April 29, according to a separate statement from the exchange operator, BM&FBovespa SA. (BVMF3)
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Source: Bloomberg
NYSE ARCA-Listing of 1 Barclays ETN
April 22, 2014--NYSE Euronext is pleased to announce that on Thursday, April 24, 2014, the following ETN will be listed on NYSE Arca and will begin trading as a new issue:
Security Name:Barclays OFI SteelPath MLP ETN
Short Name: Barclays OFI MLP ETN
CUSIP: 06742K 61 8
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Source: NYSE Arca
NYSE Arca-1 ETF Launch: iShares
April 22, 2014--NYSE Euronext is pleased to announce that on Thursday, April 24, 2014, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: iShares Yield Optimized Bond ETF
Short Name: iShares Opto Yield
CUSIP: 46434V 78 7
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Source: NYSE Euronext
BlackRock Canada Announces Launch of the iShares MSCI Europe IMI Index ETF
April 22, 2014--iShares, the industry-leading exchange-traded fund (ETF) business at BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect, wholly-owned subsidiary of BlackRock, Inc. (BlackRock), today announced the launch of the iShares MSCI Europe IMI Index ETF (TSX:XEU) which seeks to track the MSCI Europe IMI (Investable Market Index).
he MSCI Europe IMI captures large-, mid-and small-cap representation across 15 the developed markets countries in Europe, and includes 1, 315 constituent equities. The new fund's management fee is 0.25% and was launched under the ticker TSX:XEU.
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Source: Bloomberg
