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Third-party Distribution of Long-term Mutual Fund & ETF Assets Rose 23 Percent to $8.8 Trillion in 2013, According to Broadridge
Independent broker-dealers continued as leading distribution channel in overall fund assets surpassing $2 trillion in AUM
February 3, 2014-- Total third-party long-term mutual fund and exchange traded fund (ETF) assets under management (AUM) increased 23 percent in 2013 to $8.8 trillion, compared to $7.1 trillion in 2012, according to new data released today by Access Data, a Broadridge Financial Solutions, Inc. (NYSE:BR) company.
According to data released today on Broadridge's Fund Distribution Intelligence(TM) tool, the independent channels--independent broker-dealers (IBDs) and registered investment advisers (RIAs)--are the largest distribution channels for long-term mutual funds and ETFs. Specifically, 2013 data shows:
IBDs led in overall third-party distribution of long-term mutual funds
and ETFs with $2.05 trillion AUM, a 23 percent increase over the previous year
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Source: Broadridge
EG Shares Transitions Two ETFs To FTSE
15 ETFs have transitioned to FTSE benchmarks in past 18 months
More than 110 ETFs tracking FTSE benchmarks in North America
EGA move reinforces FTSE’s growing US presence
February 3, 2014--FTSE Group ("FTSE") has been selected by Emerging Global Advisors, the specialist provider of Emerging Market Exchange-Traded Funds (ETFs), as the index benchmark provider for its EGShares Low Volatility Emerging Markets Dividend ETF (HILO) and the EGShares Brazil Infrastructure ETF (BRXX), replacing Indxx.
These funds transition today to the FTSE Emerging All Cap ex Taiwan Low Volatility Dividend Index and FTSE Brazil Infrastructure Extended Index, respectively listed on NYSE Arca.
These ETFs, which represent US $138.6 million in assets under management (AUM), are the 14th and 15th to transition to FTSE in the last 18 months and add to FTSE’s significant North American business, with 111 ETFs tracking FTSE benchmarks. Globally, more than US $189 billion of ETF AUM are benchmarked to FTSE indices as of December 2013.
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Source: FTSE
iShares to Launch Industry's First Treasury Floating Rate Bond ETF
Expands iShares short duration product suite to help investors navigate today's bond landscape
February 3, 2014--iShares, the exchange-traded fund (ETF) business of BlackRock, (NYSE: BLK), will launch the industry's first ETF providing exposure to US Treasury Floating Rate Notes (FRN), the first new security from the Treasury in 17 years. The iShares Treasury Floating Rate Bond ETF (TFLO) represents an expansion of iShares short duration ETF product suite to help investors reduce interest rate and credit risk within their fixed income portfolio.
Treasury FRNs are a new type of Treasury debt with an interest payment that changes over time. The coupon rate on these securities will reset daily using the most recent 13-week Treasury bill auction rate plus a spread. The first auction of $15 billion took place on January 29th with strong demand from investors.
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Source: BlackRock
IMF Canada: Selected Issues
February 3, 2014--Summary: The unconventional energy boom has had significant positive effects on Canada's economic activity and has the potential to contribute even more in the future with the appropriate extension of infrastructure capacity. Our findings suggest that while limited exports capacity would result in output losses over the medium term, the potential output gains from a full market access of Canada's energy products could reach about 2 percent of GDP over a ten year horizon.
Actions can be taken on a number of fronts to resolve transportation constraints and address domestic market segmentation. These include diversifying international export markets for Canadian energy products, which would require building pipeline and export infrastructure to facilitate access to non-U.S. markets. Energy integration between Canada's western and eastern provinces can be strengthened further, and recent initiatives in this direction are welcome. More generally, there appears to be an important scope to increase inter-industry linkages across Canada that would lead to wider sharing of benefits from the energy sector.
view the IMF report- Canada: Selected Issues
Source: IMF
IMF-Canada: Financial Sector Stability Assessment
February 3, 2014--Canada's financial system successfully navigated the global financial crisis, and stress tests suggest that
major financial institutions would continue to be resilient to credit, liquidity, and contagion risks arising
from a severe stress scenario.
Elevated house prices and high household debt remain an area of concern
(despite the substantial level of government-guaranteed mortgage insurance), though targeted prudential
and macroprudential measures are proving to be effective. The regulatory and supervisory framework is
strong, and is complemented by a credible federal system of safety nets, although there is no single body
with an explicit mandate to take a comprehensive view of systemic risks or to undertake crisis preparedness.
Improving cooperation between federal and provincial authorities would further reinforce system wide
oversight arrangements.
view the IMF-Canada: Financial Sector Stability Assessment report
Source: IMF
Multi-asset ETFs set to burst into UK market
ETF Securities is in negotiations with fund managers to launch novel new products.
February 2, 2014--Two of the fastest-growing areas in investing- exchange-traded funds (ETFs) and multi-asset investment-look set to join forces as an innovative new product type comes to market.
ETF Securities has said it is in discussions with a number of as-yet-unnamed fund managers with a view to launching white-labelled multi-asset ETFs, under the company's 'Canvas' project for building funds.
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Source: ETF Securities
Regulators train a close eye on alternatives
SEC and Finra pledge increased attention to alts and complex products
February 2, 2014--Through broker-dealer examinations and issuing alerts of investment advisers' due diligence, the Securities and Exchange Commission is continuing its focus on how advisers sell or advise clients on alternative investments.
The SEC's spotlight on alternatives ranges from nontraded real estate investment trusts to hedge funds, according to industry executives, SEC officials and statements from the commission.
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Source: Investment News
Winklevosses' Lawyer in Talks With SEC Over Bitcoin ETF
February 2, 2014--The lawyer who drafted Cameron and Tyler Winklevoss's plan for an exchange-traded fund investing in the virtual currency Bitcoin said she is "in dialogue" with regulators over revising the plan.
An amended version of the proposal for the Winklevoss Bitcoin Trust, first filed with the U.S. Securities and Exchange Commission on July 1,, will probably be submitted within two weeksKathleen H. Moriarty, a partner at Chicago-based law firm Katten Muchin
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Source: Bloomberg
SEC Panel Opposes Test of Wider Share-Price Increments
January 31, 2014--A U.S. Securities and Exchange Commission advisory panel said the regulator should drop plans to test incentives for trading in small-company stocks.
The SEC's Investor Advisory Committee voted 13-3 to urge the agency not to conduct a pilot program to widen the minimum price, or tick, at which small stock prices are quoted on exchanges.
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Source: Bloomberg
Emerging Global Advisors Announced Index Transition for Three Exchange-Traded Funds (ETFs)
EGShares Low Volatility Emerging Markets Dividend ETF (HILO) and EGShares Brazil Infrastructure ETF (BRXX) track FTSE indices, and EGShares Emerging Markets Domestic Demand ETF (EMDD) track an index from S&P Dow Jones Indices
January 31, 2014--Emerging Global Advisors (EGA),the asset manager to the EGShares exchange-traded fund (ETF) offering,today announced that effective February 3,2014,the EGShares Low Volatility Emerging Markets Dividend ETF (HILO) starts tracking the FTSE Emerging All Cap ex Taiwan Low Volatility Dividend Index,the EGShares Brazil Infrastructure ETF (BRXX) starts tracking the FTSE Brazil Infrastructure Extended Index
and the EGShares Emerging Markets Domestic Demand ETF (EMDD) starts tracking the S&P Emerging Markets Domestic Demand Index.
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Source: Emerging Global Advisors (EGA)
