Americas ETP News
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Incredible Shrinking Management Fee
Professional portfolio management has long cost too much. If a new company has its way, it could be free.
March 7, 2014--This past week, WiseBanyan, an online-only investment adviser, publicly launched a service that builds and manages diversified portfolios of exchange-traded funds for nothing.
There is no minimum account size; nor is there any fee to sign up, to buy the funds or to hold them (other than the underlying expenses of the funds, averaging less than 0.14% annually).
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Source: Wall Street Journal
CFTC.gov Commitments of Traders Reports Update
March 7, 2014--The current reports for the week of March 4, 2014 are now available.
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Source: CFTC.gov
SEC exam director warns advisers about use of alternative mutual funds
Noting surge in inflows, Bowden calls the funds 'bright, shiny objects' with sharp edges
March 6, 2014--The head of the Securities and Exchange Commission's examination program warned investment advisers on Thursday to be careful when putting their clients in alternative mutual funds.
The SEC has noticed increased use of nontraditional investments and complex trading strategies in mutual funds, said Andrew Bowden, director of the Office of Compliance Inspections and Examinations.
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Source: Investment News
CFTC.gov Swaps Report Update
March 5, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
KraneShares and Bosera Asset Management Launch First MSCI China A Share ETF Trading on the New York Stock Exchange
March 5, 2014--Krane Funds Advisors LLC ("KraneShares"), a provider of China-focused Exchange Traded Funds (ETFs), today announced the launch of the KraneShares Bosera MSCI China A Share ETF (NYSE ticker: KBA) on the New York Stock Exchange. The fund will provide investors direct access to Chinese securities listed on the Shanghai and Shenzhen Stock Exchanges. This new ETF is a collaboration between KraneShares and Bosera, one of China's largest asset managers (with $32 billion in client assets) to license the MSCI China A Index.
MSCI is the gold standard of equity index providers globally, with approximately $8 trillion benchmarked to its indexes(1) . Ninety-five percent of U.S. pension fund assets invested in international equities are benchmarked to MSCI.(2)
"KraneShares Bosera MSCI China A Share ETF is the first China A Share ETF on the NYSE to provide meaningful exposure to both large and mid cap Chinese companies. We believe mid cap Chinese companies stand to benefit the most from China's shift to a domestic consumption economy and the growth of its middle class from 300 million to 600 million people over the next 10 years," said Jonathan Krane, Chief Executive Officer of KraneShares. "KBA will provide global investors direct access to this asset class, and we are excited to be working with Bosera to offer this MSCI index-linked ETF," said Krane.
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Source: KraneShares
Zero-fee ETFs sound tempting, but read the fine print first
March 5, 2014--Zero-commission exchange-traded funds are certainly alluring for any investor, but there is a limit to the free lunch.
Several Canadian discount brokers market ETFs without trading fees, but investors need to read the fine print.
Their offerings have different wrinkles so it pays to do the homework to avoid costly surprises. For instance, some firms have a set menu of zero-fee ETFs, and charge a regular commission for the rest. Other brokers let investors buy any ETF without a fee, but have commission for selling.
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Source: The Globe and Mail
Morgan Stanley-ETF Quarterly Report: $1.7 Trillion in 1,362 ETFs
March 5, 2014--ETFs posted net inflows of $180.8 billion in 2013, of which $59.6 billion came in the fourth quarter. International developed
market equity ETFs captured 35% of net new money during the
year, the most of any category we measured, while commodity ETFs
struggled, exhibiting net outflows of $31.1 billion in 2013.
Furthermore, there were 143 ETFs launched in 2013 and there are
currently 1,362 ETFs with $1.7 trillion in assets.
request report
Source: Morgan Stanley
Isa guide 2014: Poor rates persist for cash Isas
March 5, 2014--Although some investors are now embracing higher-risk income investments, cash looks set to remain the most popular way to save money in an Isa.
Last year, eight out of every 10 Isa accounts opened were cash subscriptions, the highest proportion ever seen. Yet banks are offering investors some of the worst cash rates ever provided.
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Source: FT.com
CME Group Volume Averaged 14.0 Million Contracts Per Day In February 2014, Up 2 Percent From February 2013 And Up 8 Percent From January 2014
CME Group Volume Averaged 14.0 Million Contracts per Day in February 2014, Up 2 Percent from February 2013 and Up 8 Percent from January 2014
Eurodollar futures average daily volume increased 21 percent and Eurodollar options increased 92 percent
Natural Gas average daily volume increased 29 percent
Dubai Mercantile Exchange average daily volume reached a record 10,800 contracts
March 4, 2014-- CME Group, the world's leading and most diverse derivatives marketplace, today announced that February 2014 volume averaged 14.0 million contracts per day, up 2 percent compared with February 2013
and up 8 percent from January 2014. Total volume for February 2014 was more than 266 million contracts, of which 86 percent was traded electronically.
Year-to-date 2014 average daily volume of 13.4 million contracts was up 7 percent compared with the same time period last year.
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Source: CME Group
First Trust to Launch First Trust Dorsey Wright Focus 5 ETF
An index-tracking ETF based on Dorsey Wright's systematic momentum strategy for sector rotation using their relative strength ranking system
March 4, 2014--First Trust Advisors L.P. ("First Trust") expects to launch a new exchange-traded fund ("ETF"), the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: FV), on March 6, 2014. The fund seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Dorsey Wright Focus Five Index (the "index").
The Dorsey Wright Focus Five Index is designed to provide targeted exposure to the five First Trust sector and industry based ETFs identified by DWA's index methodology to offer the greatest potential to outperform the other ETFs in the selection universe. First Trust sector and industry based ETFs provide the universe for the index selection.
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Source: First Trust
