Americas ETP News
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Leveraged and Inverse ETFs: Specialized Products with Extra Risks for Buy-and-Hold Investors
August 16, 2012--The SEC staff and FINRA are issuing this Alert because we believe individual investors may be confused about the performance objectives of leveraged and inverse exchange-traded funds (ETFs).
Leveraged and inverse ETFs typically are designed to achieve their stated performance objectives on a daily basis. Some investors might invest in these ETFs with the expectation that the ETFs may meet their stated daily performance objectives over the long term as well. Investors should be aware that performance of these ETFs over a period longer than one day can differ significantly from their stated daily performance objectives.
What Are Exchange-Traded Funds? ETFs are typically registered investment companies whose shares represent an interest in a portfolio of securities that track an underlying benchmark or index. (Some ETFs that invest in commodities, currencies, or commodity- or currency-based instruments are not registered as investment companies.) Unlike traditional mutual funds, shares of ETFs typically trade throughout the day on a securities exchange at prices established by the market.
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Source: SEC.gov
Columbia Management Investment Advisers files with the SEC
August 16, 2012--Columbia Management Investment Advisers, LLC has filed a post-effective amendment, registration statement with the SEC for the
Columbia AMT-Free Muni Target 2015 ETF
Columbia AMT-Free Muni Target 2016 ETF
Columbia AMT-Free Muni Target 2017 ETF
Columbia AMT-Free Muni Target 2018 ETF
Columbia AMT-Free Muni Target 2019 ETF
view filing
Source: SEC.gov
Horizons Enhanced US Equity Income Fund Announces Conversion into ETF
August 16, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are pleased to announce that the Horizons Enhanced U.S. Equity Income Fund (the "Fund") will,
subject to regulatory approval, convert into an open-end exchange traded fund and be renamed the Horizons Enhanced US Equity Income ETF (the "ETF") after the close of business on August 31, 2012 (the "Conversion").
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Source: Horizons Exchange Traded Funds
Mirae sets its sights on US ETF market
August 16, 2012--While other big asset managers are rethinking their commitment to exchange traded funds, Mirae Asset Global Investments is diving in.
The South Korean manager’s Horizons ETF unit is preparing to make its entrance into the US market with three ETFs implementing covered-call strategies. The index-based ETFs will be similar to the actively managed covered-call ETFs it runs in the Canadian market.
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Source: FT.com
Horizons Enhanced US Equity Income Fund Announces Conversion into ETF
August 16, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are pleased to announce that the Horizons Enhanced U.S. Equity Income Fund (the "Fund") will, subject to regulatory approval, convert into an open-end exchange traded fund and be renamed the Horizons Enhanced US Equity Income ETF
(the "ETF") after the close of business on August 31, 2012 (the "Conversion").
Upon completion of the Conversion, the Class E units of the ETF (the "Class E Units") will, subject to regulatory approval, begin trading on the Toronto Stock Exchange ("TSX") on September 3, 2012, under the symbol HES. Concurrent with, but unrelated to, the Conversion, the ETF will begin issuing Advisor Class units (the "Advisor Class Units") which will, subject to regulatory approval, also begin trading on the TSX on September 3 2012, under the symbol HES.A.
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Source: Horizons Exchange Traded Funds Inc.
U.S. Department of the Treasury Economic Statistics-Monitoring the Economy Update view the US Economic Data-Quarterly United States Commodity Funds LLC announces United States Diesel-Heating Oil Fund, LP name change (UHN) read more S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices-A Deletion From The S&P/TSX SmallCap Index EGShares announces launch of Beyond BRICs (BBRC) and Emerging Market Domestic Demand (EMDD) ETFs Investors seeking opportunities that are earlier on this development path can attempt to tailor core portfolios to include greater exposures to less mature emerging market countries through the EGShares Beyond BRICs ETF, and less mature emerging market sectors through the EGShares Emerging Markets Domestic Demand ETF. read more
New Charles Schwab Report Addresses Investor Concerns About Bond Market Investing “The current environment of low interest rates and market volatility can be disconcerting for investors if they don’t fully understand how to navigate through it,” said Kathy Jones, vice president and fixed income strategist for the Schwab Center for Financial Research and author of the paper. “Bonds can serve a critical function in investors’ portfolios, so it’s important to make deliberate decisions and not react in the moment.” view the Reading the Signs in the Current Bond Market paper
August 16, 2012--The Office of Economic Policy monitors key economic indicators to produce the following summary tables of monthly and quarterly U.S. economic statistics.
view the US Economic Data-Monthly
Source: US Department of the Treasury
August 16, 2012--United States Commodity Funds LLC, the general partner and sponsor of exchange traded commodity funds, announces that the United States Heating Oil Fund, LP is known as United States Diesel-Heating Oil Fund, LP ("UHN"), effective August 1, 2012.
Chief Investment Officer John Hyland says, "Recently the CME/NYMEX announced changes to the long established heating oil futures contract to make it a better physical match for diesel fuel. We have changed the name of our fund to better reflect the actual uses of the heating oil futures contract". Mr. Hyland added that the investment objective of UHN remains the same.
United States Diesel-Heating Oil Fund is an exchange traded product ("ETP"), that seeks to reflect the performance of the daily price movements of heating oil. The investment objective of UHN has been, and still is, for the daily changes in percentage terms of its units' net asset value ("NAV") to reflect the daily changes in percentage terms of the near month heating oil futures contract traded on the NYMEX (New York Mercantile Exchange),less UHN's expenses. UHN issued units may be purchased and sold on the NYSE Arca.
Source: ALPS Distributors, Inc.
August 15, 2012--S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Open Range Energy Corp. (TSX:ONR) have accepted the Arrangement Agreement whereby the company will be acquired by Peyto Exploration & Development Corp. (TSX:PEY).
Open Range Energy shareholders will receive 0.0723 shares of Peyto for each share held. Open Range Energy will be removed from the S&P/TSX SmallCap and Equity SmallCap Indices after the close of trading on Thursday, August 16, 2012.
Source: Standard & Poor's
BBRC and EMDD Multi‐Country and Multi‐Sector ETFs Offer Differentiated Emerging Market Core Holdings
August 15, 2012--Emerging Global Advisors today announced the launch of the EGShares Beyond BRICs and
Emerging Markets Domestic Demand ETFs, exchange traded funds seeking less mature emerging market country or sector
exposures.
With more than 90% of all EM equity ETF assets following the MSCI Emerging Markets Index and other catalogue indexes,1 many core portfolios are dominated by countries and sectors that are furthest along the economic development path that progresses from
frontier to developed market status.
Source: EGShares
August 15, 2012--Investors who are uncertain about which way to turn in today's bond markets can learn more about their options for fixed income investing in a new paper released today by Charles Schwab, a leading provider of financial services.
The paper looks at several bond investing themes investors should be mindful of at a time when many believe their only choices are to lower their expectations or take on more risk.
Source: Charles Schwab
