Americas ETP News
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Smart beta ETF launches sink to 12-year low
June 28, 2022--Plain-vanilla strategic beta strategies are gathering the most assets, according to Morningstar
Factor-focused strategies may no longer be the exchange traded fund industry's shiny new thing. However, investors have not abandoned strategic beta ETFs with "plain vanilla" tilts and relatively low fees, Morningstar research shows.
Last year investors sank $131bn into strategic beta ETFs, which are focused on so-called investment factors such as momentum, minimum volatility, value and growth.
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Source: ft.com
IMF-United States of America: Concluding Statement of the 2022 Article IV Mission
June 24, 2022--A Strong Recovery from the Pandemic
The U.S. economy has staged a strong recovery from the COVID-19 shock. The positive effects of unprecedented policy stimulus, combined with the advantages of a highly flexible economy, have been clear. Just over two years after the COVID-19 shock, the unemployment rate and other measures of labor force underutilization have returned to end-2019 levels and output is close to its pre-pandemic trend.
Rapid wage increases for lower income workers have reduced income polarization, poverty fell to 9.1 percent in 2020 (from 11.8 percent in 2019), and there were even larger reductions in poverty for female-headed households, children, African Americans and Hispanics.
On net, 8.5 million jobs have been created since the end of 2020. There has, however, been a relatively slow recovery of labor force participation (reflecting a secular, demographic downtrend and early retirements) and there are important concerns around the potential longer run effects of the pandemic on education outcomes and productivity.
Over the past two years, U.S. financial institutions and corporates have been resilient, albeit with the aid of significant policy support. Stress tests show the banks to be very liquid and highly capitalized.
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Source: imf.org
Ken Griffin Moving Citadel From Chicago to Miami Following Crime Complaints
June 23, 2022--Hedge-fund founder has had long-running feud with Illinois Gov. J.B. Pritzker over crime, other issues
Billionaire Ken Griffin is relocating his hedge-fund firm Citadel from Chicago to Miami, the third major employer to announce the move of a corporate headquarters from Illinois in the past two months.
In a letter to employees Thursday, Mr. Griffin said he had personally moved to Florida-a state that doesn’t collect personal income tax-and that his market-making business, Citadel Securities, would also transfer. He wrote that he views Florida as a better corporate environment and though he didn't specifically cite crime as a factor,company officials said it was a consideration.
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Source: wsj.com
Coinbase Launching 'Nano' Bitcoin Futures via Derivatives Exchange
June 23, 2022--Formerly called FairX, Coinbase Derivatives Exchange will offer futures priced at 1/100th of a Bitcoin through third-party brokers beginning Monday.
Retail investors will be able to trade crypto futures through Coinbase starting Monday, as the largest exchange in the U.S. by volume will offer them on its new Derivatives Exchange platform.
The move comes after Coinbase acquired FairX in January as part of its goal of offering crypto futures and options trading to its customers. FairX had been selling futures products and was already registered with the federal Commodity Futures Trading Commission (CFTC), giving Coinbase a running start in the $3 trillion crypto derivatives market.
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Source: decrypt.co
VanEck Launches CLO ETF to Meet Demand for Rising Rate Alternatives
June 23, 2022--Actively managed ETF is sub-advised by PineBridge Investments, a leader in the CLO market.
Fund aims to provide opportunities for enhanced yield, lower interest rate sensitivity than other fixed income investments historically, and the benefits
of built-in structural risk protections; launch comes as interest rates and bond market volatility are on the rise.
VanEck today announced the launch of the VanEck CLO ETF (CLOI), designed to provide exposure to the $1 trillion collateralized loan obligation (CLO)
market through an actively managed fund sub-advised by PineBridge Investments, a private, global asset manager focused on active, high-conviction investing.
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Source: VanEck
IndexIQ Teams Up with U.S. Growth Equity Investing Specialists at Winslow Capital to Introduce Two Semi-Transparent Actively Managed ETFs
June 23, 2022--June 23, 2022--IndexIQ, a leading provider of innovative multi-asset investment solutions, today announced the launch of its first active semi-transparent Exchange Traded Funds (ETFs): IQ Winslow Large Cap Growth ETF (IWLG) and IQ Winslow Focused Large Cap Growth ETF (IWFG).
The new ETFs are managed by Winslow Capital Management, LLC (Winslow Capital) one of the leading firms in growth equity investing.
Through repeatable processes firmly rooted in fundamental research, Winslow Capital seeks to achieve successful client outcomes over the long-term while carefully managing risk. Both ETFs are led by the portfolio managers Justin Kelly, Patrick Burton and Peter Dlugosch, who also manage Winslow's flagship, U.S. Large Cap Growth strategy. The portfolio management team is further supported by Winslow Capital's investment team, which averages over 25 years of industry experience
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Source: IndexIQ
IndexIQ Teams Up with U.S. Growth Equity Investing Specialists at Winslow Capital to Introduce Two Semi-Transparent Actively
June 23, 2022--IndexIQ, a leading provider of innovative multi-asset investment solutions, today announced the launch of its first active semi-transparent Exchange
Traded Funds (ETFs): IQ Winslow Large Cap Growth ETF (IWLG) and IQ Winslow Focused Large Cap Growth ETF (IWFG).
The new ETFs are managed by Winslow Capital Management, LLC (Winslow Capital) one of the leading firms in growth equity investing. Through repeatable
processes firmly rooted in fundamental research, Winslow Capital seeks to achieve successful client outcomes over the long-term while carefully managing
risk. Both ETFs are led by the portfolio managers Justin Kelly, Patrick Burton and Peter Dlugosch, who also manage Winslow's flagship, U.S. Large Cap Growth
strategy.
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Source: bloomberg.com
US bond ETF trading hit record volumes ahead of Fed rate decision
June 22, 2022--Investors drawn to the greater liquidity offered by fixed income ETFs
Trading volumes for US bond exchange traded funds spiked to a record high on June 13 as soaring inflation prompted investors to bet on a more aggressive path for interest rate hikes by the Federal Reserve at its meeting later that week.
US fixed income ETF turnover hit $58bn on June 13, a one-day record which surpassed the $53bn of trading on the previous busiest session in March 2020 when financial markets went into freefall during the early stages of the coronavirus pandemic.
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Source: ft.com
SEC Announces Spring 2022 Regulatory Agenda
June 22, 2022--Rulemakings address each part of agency's three-part mission
The Office of Information and Regulatory Affairs today released the Spring 2022 Unified Agenda of Regulatory and Deregulatory Actions
The report, which includes contributions related to the Securities and Exchange Commission, lists short- and long-term regulatory actions that administrative agencies plan to take.
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Source: SEC.gov
Wall Street Gets a Short-Bitcoin Fund After 70% Crypto Collapse
June 21, 2022--BITI ETF begins trading with digital assets suffering meltdown
Sibling product BITO launched almost at top of crypto boom
Crypto bears who reckon the meltdown across digital currencies isn't done yet are getting a new tool to bet on fresh declines.
The ProShares Short Bitcoin Strategy ETF (ticker BITI) launches Tuesday, becoming the first inverse exchange-traded fund in the US linked to the largest cryptocurrency. By reversing the performance of an index of Bitcoin futures, it aims to offer a relatively cheap and easy way to profit from any further losses.
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Source: bloomberg.com
