Americas ETP News
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NASDAQ Trades Its First Ever Senior Loan ETF
May 24, 2013--While less than 1% of all ETF assets are in actively managed products, more players are throwing their hat into the ring, including the NASDAQ. The actively-managed ETF provider First Trust launched the first ever senior loan product on the NASDAQ Stock Market this month called the First Trust Senior Loan Fund (FTSL).
"First Trust's actively managed senior loan fund offers investors an opportunity to access yield while having some protection from the eventual rise in interest rates," said Dave LaValle, vice president of transaction services at NASDAQ OMX.
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Source: The Street
U.S. Department of the Treasury Economic Statistics -Monitoring the Economy Update view the US Economic Data- Quarterly 2013 Japan ETFs Fall in U.S. Market as Topix Drops Most Since '11 view more ProShares Launches New High Yield Bond ETF with Built-In Interest Rate Hedge view more FT Portfolios Canada Co. Launches Three ETFs On Toronto Stock Exchange To celebrate the listing of FT Portfolios Canada Co.'s three new ETFs on TSX, Fraser Howell, President and Chief Financial Officer of FT Portfolios Canada Co., will join Amelia Nedovich, Head, Business Development, ETFs and Structured Products, TSX, to open trading this morning at 9:30 a.m. ET.
view more Minutes of the Federal Open Market Committee, April 30-May 1, 2013 view the Minutes of the Federal Open Market Committee April 30-May 1, 2013 Arrow Strengthens Focus on Alternatives and ETFs With Key Distribution Hire view more WisdomTree Launches U.S. Dividend Growth Fund (DGRW)
Jeremy Schwartz, WisdomTree Director of Research, said, “Investors are hungry for income in this low interest rate-, low yield-environment. Rather than relying on historical records of dividend increases, DGRW uses real-time growth and quality metrics focused on companies who are growing their dividends.”
The WisdomTree U.S. Dividend Growth Fund (DGRW) seeks to offer: A diversified basket of dividend-paying securities with growth characteristics view more Recommendations for Equitable Allocation of Trades in High Frequency Trading Environments This paper (1) acknowledges and summarizes much of the relevant published research (2) discusses some of the HFT strategies that likely run counter to good public policy and (3) makes six recommendations that, if implemented, would not preclude any current HFT strategies, but would likely restore some competitive advantage to market participants that would be willing to expose their resting orders to market risk for more than fleeting milliseconds. view the Recommendations for Equitable Allocation of Trades in High Frequency Trading Environments1 paper Deutsche Bank-Synthetic Equity & Index Strategy-North America- Markets and $5.2bn inflows push US ETP assets to $1.519 trillion
The total US ETP flows from all products registered $5.24bn (+0.30% of AUM) of inflows during last week vs. $13.79bn (+0.90%) of inflows the previous week, setting the YTD weekly flows average at +$4.2bn (+$84.46bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of +$6.57bn (0.58%), -$0.76bn (-0.27%), -$0.75bn (-0.89%) last week vs. +$11.76bn (1.06%), +$2.59bn (0.93%), -$0.69bn (-0.79%) in the previous week, respectively.
Among US sectors, Information Technology (+$0.32bn, +1.57%) and Financials (+$0.32bn, + 1%) received the top inflows, while Energy (-$0.51bn, -2.05%) and Industrials (-$0.15bn, -1.87%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: SPY (+$1.5bn), DXJ (+$1.4bn), EWJ (+$0.6bn)
Top 3 ETPs & ETNs by outflows: IWM (-$1bn), GLD (-$0.6bn), HYG (-$0.4bn)
New Launch Calendar: Income
Total weekly turnover increased by 13.9% to $275.16bn vs. $241.62bn from the previous week. Last week's turnover level was 2.0% over last year's weekly average. Equity, Fixed Income and Commodity ETPs turnover increased by $27.7bn (13.3%), $3.4bn (19.1%) and $2.5bn (20.3%), respectively.
Assets under Management (AUM) Review: assets rose by $16bn
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May 23, 2013--The U.S. Department of the Treasury Economic Statistics-Monitoring the Economy report have been updated.
view the US Economic Data-Monthly May 2013
Source: US Department of the Treasury
May 23, 2013--Japanese exchange-traded funds, the most popular ETFs in the world this year, fell in U.S. trading as the Topix index posted the biggest drop since the aftermath of the March 2011 tsunami and nuclear disaster.
The iShares MSCI Japan Index Fund, the largest U.S. ETF of Japanese shares, slid 4.2 percent to $11.62 in New York for the biggest drop since 2011. The WisdomTree Japan Hedged Equity Fund, which saw assets rise sevenfold this year, sank 4.3 percent to $50.36. Both have received more cash than any other ETF in 2013. The Bank of New York Mellon Japan ADR Index fell as much as 7.2 percent for the worst drop since 2008.
Source: Bloomberg
May 23, 2013--ProShares, a premier provider of alternative exchange-traded funds (ETFs), today announced the launch of ProShares High Yield-Interest Rate Hedged (BATS: HYHG), a new high yield bond ETF that uses Treasury futures to provide a built-in hedge against rising interest rates.
The value of high yield bonds—like that of all bonds—can be negatively affected by rising rates. HYHG maintains short positions in 2-, 5- and 10-year U.S. Treasury futures contracts to hedge its portfolio against possible rate increases.
Source: ProShares
FT Portfolios Canada Co. to open trading on TSX this morning
May 22, 2013--Toronto Stock Exchange (TSX) today welcomed FT Portfolios Canada Co. to the Exchange. FT Portfolios Canada Co. is a privately owned company and an affiliate of Chicago based First Trust Portfolios L.P. (First Trust), a U.S. registered broker-dealer and U.S.-based exchange traded fund (ETF) sponsor.
"We are proud that FT Portfolios Canada Co. chose to list its products on Toronto Stock Exchange," said Ungad Chadda, Senior Vice President, TSX. “TSX is also proud that we continue to innovate and offer a diverse range of ETFs and other exchange traded products to investors.”
Source: Toronto Stock Exchange (TSX)
May 22, 2013--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on April 30-May 1, 2013.
The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board’s Annual Report. The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting.
Source: FRB
John Cadigan to Serve as Arrow's National Sales Manager With Responsibility for Product Distribution and Advisor Education Surrounding Alternative Investments and Exchange Traded Funds (ETFs)
May 22, 2013-Arrow Investment Advisors, LLC, the advisor to Arrow Funds and ArrowShares, is pleased to announce that John Cadigan has joined the firm as National Sales Manager.
Cadigan brings more than 25 years of financial services industry experience to the role, having established effective sales distribution teams for both traditional and alternative investments. Prior to joining Arrow, he most recently served as Managing Director/National Sales Manager for Direxion Funds.
Source: Arrow Investment Advisors
Fund Launches As U.S. Dividend Growth Accelerates1
DGRW to capture market's dividend growth leaders
May 22, 2013--WisdomTree (NASDAQ: WETF), an exchange-traded fund ("ETF") sponsor and asset manager, today announced the launch of the WisdomTree U.S. Dividend Growth Fund (DGRW) on the NASDAQ Stock Market.
DGRW is designed to provide exposure to dividend-paying stocks with growth characteristics and has an expense ratio of 0.28%.
Heavy exposure to technology sector, the sector currently leading the market’s dividend growth
Source: WisdomTree
May 21, 2013--Most industry observers and much of the academic research in this area have concluded that High Frequency Trading (HFT) is generally beneficial. Many institutional investors, however, believe that HFT places them at a competitive disadvantage.
Digital computers will always have some structural (speed) advantages over human traders. This is inevitable.
Source: John McPartland, Federal Reserve Bank of Chicago
May 21, 2013--Market and Net Cash Flows Review
Equity markets were mostly higher during last week with the exception of EM markets which ended slightly lower. The US (S&P 500) edged higher by 2.07%; while, outside the US, the MSCI EAFE (in USD) rose by 0.44% and the MSCI EM (USD) dropped by 0.36%.
Moving on to other asset classes, the 10Y US Treasury Yield rose by 5bps last week; In the meantime the DB Liquid Commodity Index was down by 0.34%. Similarly, the Agriculture sector (DB Diversified Agriculture Index), Gold and Silver prices retreated by 1.60%, 6.12% and 6.81%, respectively, while the WTI Crude Oil end flat for the week. Last but not least, Volatility (VIX) dropped by 1.11% during the same period.
Turnover Review: Floor activity rose by 14%
US ETP assets rose by $15.7bn (+1.0%) totaling $1.519 trillion at the end of the week. As of last Friday, US ETPs had accumulated an asset growth of 13.9% YTD. Assets for Equity, Fixed Income and Commodity ETPs moved +$20.6bn, -$1.6bn, -$3.5bn during last week, respectively.
Source: Deutsche Bank-Synthetic Equity & Index Strategy-North America
