Americas ETP News
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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.
read more
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
Incomplete upgrade reportedly led to Knight Capital glitch read more Treasury International Capital Data for June
Foreign residents increased their holdings of long-term U.S. securities in June – net purchases were $5.5 billion. Net sales by private foreign investors were $1.4 billion, and net purchases by foreign official institutions were $6.8 billion.
read more Knight Capital Group Releases July 2012 Volume Statistics read more
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
August 15, 2012--Knight Capital Group Inc. (KCG)'s $440 million trading loss stemmed from an old set of computer software that was inadvertently reactivated when a new program was installed, according to two people briefed on the matter.
Once triggered on Aug. 1, the dormant system started multiplying stock trades (LVLT) by one thousand, according to the people, who spoke anonymously because the firm hasn’t commented publicly on what caused the error. Knight’s staff looked through eight sets of software before determining what happened, the people said.
Source: Bloomberg Business Week
August 15, 2012--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for June 2012. The next release, which will report on data for July 2012, is scheduled for September 18, 2012.
The sum total in June of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $16.7 billion. Of this, net foreign private inflows were $28.8 billion, and net foreign official outflows were $12.1 billion.
Source: US Department of the Treasury
August 15, 2012--Knight Capital Group, Inc. (NYSE Euronext: KCG) today released U.S. equity Market Making, Knight Direct equity and Knight Hotspot FX foreign exchange volumes at www.knight.com/ourfirm/volumestats.asp for the month of July 2012.
In the first quarter of 2012, the company modified its quarterly revenue capture and monthly equity volume statistics in order to provide data specific to its U.S. equity market making activity within the Market Making segment. The company's revenue capture and volume statistics previously also included U.S. institutional sales activity. In the second quarter of 2012, Knight modified the reporting of Knight Hotspot FX notional dollar value traded volume to count one side of the transaction. The company previously counted total client volume to include both sides of the transaction.
Source: Knight
