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Principal Global Investors to convert six passive ETFs to active strategies
April 20, 2022--Consent of investors needed for changes to several of the funds' investing restrictions
Principal Global Investors is planning to convert its largest exchange traded fund and five others into actively managed strategies, disclosures show.
The manager intends to overhaul the investment strategies of its $1.6bn Principal US Mega-Cap ETF, $771mn Principal US Small-Cap Multi-Factor ETF, $235mn Principal Value ETF, $86mn Principal Quality ETF, $71mn Principal Healthcare Innovators ETF and $27mn Principal Millennials ETF, according to disclosures.
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Source: ft.com
Global X Further Expands Its Thematic Offering with the Launch of Green Building ETF (GRNR), Seeking to Capture Rising Demand for Environmentally Conscious Buildings
April 13,2022---Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Green Building ETF (GRNR). GRNR is Global X's latest addition to its Thematic Growth family, which offers investors targeted exposure to companies around the world driving long-term, paradigm-shifting themes.
The global population is expanding at a rapid pace and becoming increasingly urban. By 2050, the world's population is expected to reach 9.7 billion, 68% of which is projected to live in urban areas.[i],[ii] This swift increase in population will make additional places for people to live, work, and congregate necessary, requiring building stock to double.[iii] However, buildings account for a significant share of global greenhouse gas emissions, and urban environments and city dwellers are expected to become increasingly vulnerable to the impacts of climate change, including extreme heat events and rising sea levels.[iv] With buildings responsible for up to 38% of energy-related carbon emissions globally and 50% of all extracted materials, green buildings are key to reducing building-related emissions and improving urban resiliency in the face of climate change. [v],[vi]
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Source: Global X Management Company LLC
Vanguard's special ETF patent expires next year. Does it matter?
April 13, 2022--Rivals could copy their structure, but the question is whether any will bother
More than two decades ago-before fund companies began converting mutual funds into ETFs and US regulators streamlined the ETF approval process-Vanguard executives had an idea.
Rather than launch ETFs as a standalone vehicle, they decided to work on packaging them within a mutual fund. The idea led the firm in 2001 to debut the first ETF share class of a mutual fund.
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Source: ft.com
State Street Services Capital Group's First Actively Managed ETFs
April 13, 2022--Firms aligned closely over the past 18 months to prepare for the launch of Capital Group’s initial suite of six ETFs
State Street Corporation (NYSE: STT) announced today that it has begun working with Capital Group on servicing of the investment management firm's first actively managed exchange traded funds (ETF) that launched in February 2022.
As part of the appointment, State Street is providing ETF basket services, fund accounting, fund administration, order-taking and transfer agency services.
"We're very excited to be working with Capital Group on the launch of their first active ETFs," said Frank Koudelka, Global ETF Product Specialist at State Street. "The State Street team began our initial ETF engagement with Capital Group when they formed an ETF Working Group to research the market and we are very pleased to see that our partnership has been an important aspect to enable Capital Group's foray into ETFs."
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Source: State Street Corporation
Pacer ETFs Launches New ETF Targeting Opportunities in Online Gambling, Video Game and eSports Industries
April 11, 2022--The firm prepares for rapid consumer demand for online media and entertainment with the launch of a new exchange-traded fund
Pacer ETFs ("Pacer"), an ETF provider that offers strategy-driven, rules-based ETFs, launches the Pacer BlueStar Digital Entertainment ETF (ticker: ODDS), which aims to follow the BlueStar Global Online Gambling, Video Gaming, and eSports Index.
The rules-based index consists of globally listed stocks and depositary receipts of companies that derive at least 50% of their revenues from online gambling, video game development, eSports events and streaming services, and related hardware manufacturers.
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Source: Pacer
CBO-Monthly Budget Review: March 2022
April 8, 2022--The federal budget deficit was $667 billion in the first six months of fiscal year 2022, CBO estimates. That amount is roughly 40 percent of the shortfall recorded during the same period in 2021 ($1,706 billion).
Summary
The federal budget deficit was $667 billion in the first six months of fiscal year 2022 (that is, from October 2021 through March 2022), CBO estimates. That amount is roughly 40 percent of the shortfall recorded during the same period in 2021 ($1,706 billion). Revenues were $418 billion (or 25 percent) higher and outlays were $622 billion (or 18 percent) lower than during the same period a year ago.
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Source: Congressional Budget Office(CBO)
ProShares Launches SUPL, the First Supply Chain Logistics ETF
April 7, 2022--UPL provides end-to-end exposure to companies that move global trade forward.
ProShares, a premier provider of ETFs, today launched a Supply Chain Logistics ETF (SUPL) designed to give investors access to companies involved in each point of the process that moves raw materials and goods around the world.
"The pandemic didn't just highlight the crisis facing the global supply chain, it identified a ripe opportunity to invest in the companies striving to provide real solutions and embrace new technologies that may revolutionize global trade," said Michael L. Sapir, ProShares founder and CEO. "SUPL may provide investors with exposure to the companies contributing to this long-term transformation."
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Source: ProShares
SEC Approves Teucrium's Bitcoin Futures ETF
April 6, 2022--Teucrium's approval may hint at a future spot bitcoin ETF approval.
The U.S. Securities and Exchange Commission has allowed NYSE Arca and Teucrium to issue a bitcoin futures exchange-traded fund.
The SEC announced the approval Wednesday in a filing on its website, adding Teucrium to a host of other bitcoin futures ETF issuers.
Notably, Teucrium and NYSE Arca filed the application under the Securities Exchange Act of 1934, filing a 19b-4 form with the SEC. The already-approved bitcoin futures ETFs filed by other companies were under the Investment Company Act of 1940, which follows a slightly different regulatory pathway to approval.
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Source: coindesk.com
Citi hands SEC a SPAC victory
April 5, 2022--Citigroup (C.N) isn't so sure about special-purpose acquisition companies anymore. The bank run by Jane Fraser is putting its leading SPAC business on pause after the U.S. Securities and Exchange Commission proposed new regulations, according to Bloomberg.
It's a win for the agency before its rules even go into effect.
Citi underwrote $22 billion across 108 IPOs in 2021, taking nearly 14% of the market, the largest, per SPAC Research.
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Source: reuters.com
BlackRock Cuts Fees on World's Biggest Bond ETF and More
March 31, 2022--Issuer cuts expense ratio on $85 billion AGG fund to 0.03%
Major issuers continue to trim costs to gain an edge
BlackRock Inc. has just cut costs across a handful of ETFs-- including the biggest bond fund in the industry--as big issuers ramp up the famous fee war across the $7 trillion U.S. marketplace.
In Securities and Exchange Commission filings Thursday after the market close, the world's largest issuer of exchange-traded funds reduced the expense ratio on the $85 billion iShares Core U.S. Aggregate Bond ETF (ticker AGG) to 0.03% from 0.04%.
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Source: bloomberg.com
