Americas ETP News
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Massachusetts Scrutinizes Exchange-Traded Note .
March 29, 2012--Massachusetts's securities regulator said it is looking into an exchange-traded note managed by Credit Suisse Group AG CSGN.VX -0.08%that has lost 60% of its value in the past week.
The Massachusetts inquiry comes as the Securities and Exchange Commission also is looking into the product. The SEC review is preliminary, according to people familiar with the matter. Meanwhile, the Financial Industry Regulatory Authority also has been monitoring the situation. "We have been closely looking at the events and trading around [the exchange-traded note], but cannot comment beyond that," a Finra spokesman said.
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Source: Wall Street Journal
FINRA investigating exchange-traded notes: spokesperson
March 29, 2012--The regulator that oversees the sale of investment products to investors is investigating how firms are marketing exchange-traded notes, a niche product that experienced a market meltdown this year.
A spokeswoman for the Financial Industry Regulatory Authority said Thursday the regulator is "looking at the events and trading" activity surrounding a sharp plunge in the price of an exchange-traded note designed to track stock market volatility.
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Source: Reuters
ETFs moving in on vulnerable money market funds
March 28, 2012--Money market funds face their share of uncertainty, but that turmoil may be benefiting a growing crop of money market–like exchange traded funds.
Federated, Legg Mason and iShares have filed with the Securities and Exchange Commission to launch ultra-short ETFs as an alternative to embattled money market funds.
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Source: FT.com
Teucrium Trading, LLC Launches First Agricultural Fund of ETP Funds
The Fund Will Focus on Four Core Agricultural Commodities
March 28, 2012--Teucrium Trading, LLC ("Teucrium"), (www.teucrium.com), the first company to introduce single agricultural commodity Exchange Traded Products ("ETPs") in the United States, and the sponsor of the Teucrium Family of Funds, today announced the launch of the Teucrium Agricultural Fund (NYSE: TAGS), the first ETP to offer exposure to agricultural commodities in a single fund of ETP funds.
Company officials said the new fund, which will trade on the New York Stock Exchange Arca, will invest in corn, soybeans, wheat and sugar, by holding an equal weighting of existing Teucrium single commodity funds, namely, the Teucrium Corn Fund (NYSE:CORN), Teucrium Soybean Fund (NYSE: SOYB), Teucrium Sugar Fund (NYSE: CANE) and Teucrium Wheat Fund (NYSE: WEAT).
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Source: Teucrium Trading, LLC
ShareBuilder 401k Adds Five New Funds to its All-ETF 401(k) Lineup
New Options Including Gold Fund Enable Small Business Owners and Employees to Better Plan for Retirement Through Changing Markets
March 28, 2012--ShareBuilder 401k, a leading provider of retirement plans for small and mid-size business owners and their employees, is expanding its All-ETF 401(k) platform with the addition of five new funds aimed at helping investors diversify, preserve and grow assets over time and through various market conditions.
Effective March 1, ShareBuilder 401k's easy-to-use, cost effective retirement planning platform for businesses ranging from self-employed to mid-size companies has added the following funds to its All-ETF 401(k) lineup:
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Source: ShareBuilder 401k
IMF Working paper-Commodity Prices and Inflation Expectations in the United States
March 28, 2012--Summary: U.S. monetary policy can remain extraordinarily accommodative only if longer-term inflation expectations stay well-anchored, including in response to commodity price shocks.
We find that oil price shocks have a statistically significant, but economically small impact on longer-term inflation compensation embedded in U.S. Treasury bonds. The estimated effect is larger for the post-crisis period, and robust to controlling for measures of liquidity risk premia. Oil price shocks are also correlated with the variance of longer-term inflation expectations in the University of Michigan Survey of Consumers in the post-crisis period. These results are not attributable to looser monetary policy - oil price increases were associated with expectations of a faster monetary tightening after the crisis. Overall, the findings are consistent with some impact of commodity prices on long-term inflation expectations and/or on inflation rate risk.
view the IMF Working paper-Commodity Prices and Inflation Expectations in the United States
Source: IMF
PIMCO to Change the Total Return ETF Ticker to BOND on April 4, 2012
Shift From TRXT to BOND Is Designed to Make Access for Investors Even Easier
March 28, 2012--PIMCO, a leading global investment management firm, will change the NYSE ticker for the PIMCO Total Return ETF from TRXT to BOND on April 4, 2012.
The shift from the ticker TRXT to BOND is designed to make it even easier for investors to access the PIMCO Total Return ETF. BOND will continue to be managed by PIMCO's founder and co-Chief Investment Officer William H. Gross, and will continue to follow the same Total Return strategy.
"Our aim is to enable investors to access the PIMCO Total Return ETF easily and conveniently, and we believe that re-naming the NYSE ticker to BOND is another step toward achieving that objective," said Mr. Gross.
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Source: MarketWatch
Guggenheim Investments Expands BulletShares(R) Product Suite to 13 With Three New Corporate Bond ETFs
Assets in BulletShares(R) Line-Up Recently Passed the $1 Billion Mark
March 28, 2012- Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced the launch of three new corporate bond BulletShares: Guggenheim BulletShares 2018 Corporate Bond ETF (NYSE Arca:BSCI),
Guggenheim BulletShares 2019 Corporate Bond ETF (NYSE Arca:BSCJ) and Guggenheim BulletShares 2020 Corporate Bond ETF (NYSE Arca:BSCK). Recently, assets in the BulletShares® exchange traded funds (ETF) line-up surpassed $1 billion (as of March 14, 2012).
The Guggenheim BulletShares® line-up consists of 10 unique fixed-income defined-maturity corporate bond and high yield corporate bond ETFs. Unlike other fixed-income ETFs, BulletShares are designed to mature in their target year—providing investors with specific target maturities to build laddered portfolios or to manage to specific investment time frames. BulletShares track indices of approximately 70 to 190 corporate bonds with effective maturities in the same calendar year as each fund's maturity, with maturity dates ranging from 2012 to 2020 at this time.
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Source: Guggenheim Investments
Jefferies Said to Hire Epstein From BNP to Expand in ETF Trading
March 28, 2012--Jared Epstein, the former head of flow credit trading at BNP Paribas SA, has been hired by Jefferies Group Inc. (JEF) to trade fixed-income exchange-traded funds, according to people familiar with the decision.
Jefferies has decided to expand into exchange-traded funds tied to debt, with Epstein being brought in to help build the business, said one of the people, who asked not to be named because the decision hasn’t been made public. The New York-based firm offers its clients market-making services in equity exchange-traded funds, according to its website.
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Source: Business World
First U.S.-Listed Hedge Fund Replication Exchange-Traded Fund Celebrates Three-Year Anniversary
IndexIQ’s QAI launched an asset class when it was listed on NYSE Arca in March of 2009; brought liquid, transparent hedge strategies to the ETF world
Fund has gathered $200 million in AUM and remains a flagship of IndexIQ’s ETF family
March 28, 2012--The IQ Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI), the first U.S.-listed hedge fund replication Exchange-Traded Fund, celebrated its three-year anniversary on March 25, 2012, the fund’s sponsor, IndexIQ, has announced.
We launched the IQ Hedge Multi-Strategy Tracker ETF in 2009 with the goal of making a whole new asset class available to the average investor,” said Adam Patti, CEO of IndexIQ. “Before the launch of QAI, hedge fund investing was generally limited to institutions and high net worth individuals. QAI changed all of that. While the concept was novel at the time, QAI has performed as we anticipated over the past three years and has attracted more than $200 million in assets.”
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Source: Index IQ
