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U.S. Department of the Treasury Economic Statistics-June 2012
July 26, 2012--The Monthly Economic Data Table has been updated.
view the updated-U.S. Economic Statistics-Monthly Data
Source: US Department of the Treasury
BMO Investments Inc. Announces Portfolio Management Change
July 26, 2012--BMO Investments Inc. today announced that, effective on or about September 4, 2012, Pyrford International Limited will no longer serve as the sub-advisor for BMO Global Tactical ETF Class, a class of shares of BMO Global Tax Advantage Funds Inc.
BMO Asset Management Inc., the portfolio manager for the fund since the fund's inception, will assume all responsibility for the entire portfolio.
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Source: BMO Investments Inc.
Written Testimony of Treasury Secretary Geithner before the Senate Committee on Banking, Housing, and Urban Affairs on the Financial Stability Oversight Council Annual Report to Congress
July 26, 2012--Chairman Johnson, Ranking Member Shelby, and members of the Committee, thank you for the opportunity to testify today regarding the Financial Stability Oversight Council's (the "Council") annual report.
Each year, the Council is required to prepare a public report reviewing financial market and regulatory developments, potential threats to financial stability, and recommendations to strengthen the financial system. My testimony today reviews the conclusions and recommendations made by the Council in its second annual report, which is being submitted in full alongside this testimony.
Measures of Strength in the Financial System
The strategy adopted by the United States to repair and reform the financial system after the crisis has helped produce a stronger and more resilient system.
We have forced banks to substantially increase the amount of capital they hold, so that they are able to provide credit to the economy and absorb losses in the future. Tier 1 common capital levels at our country’s banks are up by $420 billion, or 70 percent, from three years ago. The ratio of tier 1 common equity to risk-weighted assets at these institutions increased from 6 percent to over 11 percent during this period.
view the Financial Stability Oversight Council Annual Report 2012
Source: US Department of the Treasury
ICI-Exchange Traded Fund Data June 2012
July 26, 2012--The combined assets of the nation's exchange-traded funds (ETFs) were $1.167 trillion in June, according to ICI. The Institute's monthly statistical collection also includes the value of shares issued and redeemed by exchange-traded funds.
Statistics contained in the Institute’s monthly ETF report have been obtained from information provided to ICI by exchange-traded funds and commodity funds. Commodity funds are listed in the Domestic (Sector/Industry) category.
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Source: ICI
ICI-Exchange Traded Fund Data-June 2012
July 26, 2012--The combined assets of the nation's exchange-traded funds (ETFs) were $1.167 trillion in June, according to ICI. The Institute's monthly statistical collection also includes the value of shares issued and redeemed by exchange-traded funds.
Statistics contained in the Institute’s monthly ETF report have been obtained from information provided to ICI by exchange-traded funds and commodity funds. Commodity funds are listed in the Domestic (Sector/Industry) category.
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Source: ICI
SIGTARP July 2012 Quarterly Report to Congress
July 25, 2012--This morning, SIGTARP issued its latest, July 2012 Quarterly Report to Congress on the status of TARP.
view the SIGTARP July 2012 Quarterly Report to Congress
Source: US Department of the Treasury
Guggenheim Partners Raises $1 Billion for New Loan Fund
July 25, 2012--Guggenheim Partners LLC raised about $1 billion for a new fund that will make loans to public and private companies with revenues of as much as $500 million, according to a regulatory filing.
The Guggenheim Private Debt Fund filed a Form D today with the U.S. Securities and Exchange Commission disclosing it received $952 million in commitments from 11 investors. The actual amount gathered was slightly more than $1 billion, Zach Warren, a senior managing director at Guggenheim, said in an interview. The investors were primarily insurance companies.
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Source: Bloomberg
Target date retirement funds turn to ETFs
July 25, 2012--Target date funds, the most popular investment option in 401(k) plans, are increasing their exposure to exchange traded funds (ETFs), which are rarely used in retirement savings accounts.
Franklin Templeton Investments, Manning & Napier and Lincoln Financial Group are among a number of target date fund managers turning to ETFs, something they say will help them to more easily manage volatile markets and access niche investment strategies - at lower costs than using mutual funds.
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Source: Reuters
AdvisorShares Announces the Closing of the Dent Tactical ETF (DENT)
July 25, 2012-- AdvisorShares, a leading sponsor of actively managed Exchange Traded Funds (ETFs), announced today that the AdvisorShares Dent Tactical ETF (NYSE: DENT) will be closed rather than reorganize into the AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH) in a measure aimed to benefit shareholders.
The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of DENT, and following its last day of trading on August 8, 2012, the ETF will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after August 15, 2012.
Noah Hamman, CEO of AdvisorShares, said, "We determined it was in the best interest of the shareholders to close DENT due to the amount of time required for the merger and its associated costs."
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Source: AdvisorShares
Huntington Asset Advisors, Inc. Launches US Equity Rotation Strategy Shares ETF
Fund to rotate investments among domestic equity market segments
July 25, 2012--Huntington Asset Advisors, Inc. (HAA) announces it is launching a second actively managed exchange-traded fund (ETF), through its new ETF family, Huntington Strategy Shares. The US Equity Rotation Strategy ETF (nyse arca:HUSE) is the second of two ETFs Huntington Strategy Shares has launched.
Huntington EcoLogical Strategy ETF (nyse arca:HECO) was launched on June 20, 2012.
The objective of the US Equity Rotation Strategy ETF is to seek capital appreciation in any given market environment. Under normal market conditions, the ETF invests in companies that are organized in the US and included in the S&P Composite 1500, which is comprised of large-, mid- and small-cap companies. The exchange traded fund is actively managed and strives to meet its objective by rotating to the industry sectors or segments the advisor believes to offer the best potential for long-term capital appreciation based on changing market conditions.
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Source: Huntington
