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IndexIQ Announces July 2011 Performance of its IQ Hedge Family of Investable Benchmark Hedge Fund Replication Indexes
Aug 03, 2011--IndexIQ, a leading developer of index-based alternative investment solutions, today announced the performance of its proprietary family of hedge fund replication and alternative beta indexes.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge(TM) benchmark indexes were originally introduced on March 30, 2007, and have been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.
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Source: IndexIQ
Report to the Secretary of the Treasury from the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association
August 3, 2011--Dear Mr. Secretary:
When the Committee last met in early May, the pace of economic growth had downshifted noticeably. Since then, growth has continued to disappoint, as second quarter real GDP advanced at only a 1.3% annual rate following a downward-revised pace in the first quarter of 0.4%. Growth was held back in the first half of the year, in part, by some temporary headwinds, including the drag from higher energy prices and the supply disruptions following the Tohoku earthquake.
The fading of these drags may allow for somewhat better growth in the second half of the year. Nonetheless, the recent step-down in consumer sentiment and the slowdown in the pace of employment growth have tempered expectations regarding the vigor of the anticipated rebound.
The disappointment in second quarter growth was a result of domestic demand only advancing at a modest 0.5% annual rate; net exports and inventory building both made positive contributions to growth last quarter. Real consumer spending barely increased last quarter, edging forward at a 0.1% annual rate, which was the slowest pace in the two year-old current expansion. Nominal consumer spending advanced at a 3.2% rate, but the large coincident rise in consumer prices meant that the increase in dollar outlays was matched by a very small increase in volumes purchased. In addition to the drag from higher food and energy prices, survey measures of consumer attitudes indicate increased caution on the part of households, particularly regarding the health of the labor market.
Home buying has remained fairly stable at depressed levels. Construction activity appears to have increased somewhat in the multifamily sector, but homebuilding in the larger single-family sector is mired at historically very low levels. House prices have declined modestly over the last three months, though the pace of decline has become less severe and there is some evidence that prices for non-distressed properties may be modestly increasing.
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Source: US Department of the Treasury
Pimco files with the SEC
August 3, 2011--Pimco has filed a Post-Effective Amendment No. 32 to the Registration Statement of PIMCO ETF Trust on Form N-1A is being filed pursuant to Rule 485(a) to register the PIMCO Australia Bond Index Fund, PIMCO Canada Bond Index Fund, and
PIMCO Germany Bond Index Fund, each a new series of the Registrant.
view filing
Source: SEC.gov
FactorShares files with the SEC
August 3, 2011--FactorShares has filed an application for exemptive relief with the SEC.
view filing
Source: SEC.gov
AdvisorShares files with the SEC
August 3, 2011--AdvisorShares has filed a post-effective amendment, registration statement with the SEC for the Accuvest Global Opportunities ETF.
view filing
Source: SEC.gov
CSA and IIROC announce regulatory framework for dark liquidity in Canada
August 2, 2011--On July 29, 2011 the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) announced today they are moving forward with proposals to implement a comprehensive new regulatory framework for the use of dark liquidity in the Canadian market.
The new framework provides a regulatory response to developments regarding dark liquidity in Canada, particularly the increasing use of dark orders, or orders entered with no pre-trade transparency. The framework acknowledges the importance of innovation in the Canadian market, while establishing strong rules to ensure that market integrity and price discovery remain protected.
"This new framework for dark liquidity in Canada proposes a balance between recognizing the value of dark liquidity to industry participants and ensuring the continued protection of retail investors, pre-trade price discovery and the overall quality of our market," said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.
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Source: Canadian Securities Administrators (CSA)
Treasury Announces Marketable Borrowing Estimates
October 2, 2011--The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the July – September 2011 and the October – December 2011 quarters:
During the July – September 2011 quarter, Treasury expects to issue $331 billion in net marketable debt, assuming an end-of-September cash balance of $110 billion. This borrowing estimate is $74 billion lower than announced in May 2011. The decrease in borrowing largely relates to lower outlays and cash balance adjustments.
•During the October – December 2011 quarter, Treasury expects to issue $285 billion in net marketable debt, assuming an end-of-December cash balance of $100 billion.
During the April - June 2011 quarter, Treasury issued $190 billion in net marketable debt, and ended the quarter with a cash balance of $137 billion, of which $5 billion was attributable to the Supplementary Financing Program (SFP). In May 2011, Treasury estimated $142 billion in net marketable borrowing and assumed an end-of-June cash balance of $95 billion, which included an SFP balance of $5 billion.
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 9:00 a.m. on Wednesday, August 3, 2011.
view the the Sources and Uses Table
Source: US Department of the Treasury
Managers' switch to ETFs eliminates costs, hassles
August 2, 2011--Firm jumps on offer for free ETF trades
Big trades in and out of mutual funds were proving a hassle
ETF bid-ask spreads competitive with stock trading
Niemann Capital Management Inc. started substituting exchange-traded funds for mutual funds late last year, initially in response to an offer for free trades. It hasn't looked
The Scotts Valley, Calif., firm, which oversees about $1.1 billion for financial-adviser clients,
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Source: MarketWatch
NSX Releases July 2011 ETF Data Reports
August 2, 2011--Highlights from the July 2011 reports include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) totaled approximately $1.107 trillion at July 2011 month-end, an increase of approximately 33% in comparison to July 2010 month-end when assets totaled over $835 billion.
ETFs/ETNs posted net cash inflows of approximately $13.2 billion for the month of July.
Year-to-date 2011 net cash inflows reached $71.1 billion, an increase of approximately 44% over the same time period in 2010 when net cash inflows reached $49.5 billion.
ETF/ETN notional trading volume during July 2011 totaled approximately $1.5 trillion, representing almost 31% of all U.S. equity trading volume.
At the end of July 2011, the number of listed products totaled 1295 compared to 1032 listed products at the same time last year.
visit http://www.nsx.com/content/etf-assets-list to view report
Source: National Stock Exchange, Inc. (NSX)
Key points of US debt deal
August 2, 2011--PRESIDENT Barack Obama announced on Sunday that Republican and Democratic leaders have greed on a last-ditch deal to raise the US borrowing limit and avoid a catastrophic default, and urged lawmakers to "do the right thing" and approve the agreement
Here is a summary of the deal, based on documents provided by both parties, as well as interviews with lawmakers and aides:
The deal will allow Obama to raise the debt ceiling by at least $2.1 trillion in three steps.
Congress will have the chance to register its disapproval on two of these, but will not be able to block them unless it musters a two-thirds vote in both the House and the Senate - an unlikely prospect.
It envisions spending cuts of roughly $2.4 trillion over 10 years, which Congress will approve in two steps - an initial $917bn when the deal passes Congress, and another $1.5 trillion by the end of the year.
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Source: FIN24
