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Lipper U.S. Weekly FundFlows Insight Report: Funds Take in Net New Money Driven by Demand for Taxable Bond Funds
April 4, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) experienced net inflows of $1.9 billion for the fund-flows trading week ended Wednesday, April 3. Taxable bond funds (+$3.7 billion) took in the most net new money, while money market funds (+$1.4 billion) and municipal debt funds (+$714 million) also contributed to the net positive flows. Equity funds (-$3.9 billion) were the lone asset group to experience net outflows.
Market Overview
The major equity indices all posted positive returns for the fund-flows trading week. The NASDAQ Composite Index (+3.30%) led the gains, while the S&P 500 Index and the Dow Jones Industrial Average posted solid increases of 2.42% and 2.31%, respectively. All of the indices recorded double-digit gains, paced by the NASDAQ (+16.49%) and followed by the S&P 500 (+13.07%) and the Dow (+11.15%). The markets took strength on optimism over the progress of trade talks between the U.S. and China, as well as better than expected manufacturing data from the same two countries.<>view more
Source: Refinitiv
Virtu and MarketAxess Partner on Fixed-Income ETF
April 4, 2019--Virtu Financial, Inc. and MarketAxess Holdings, Inc., two global leaders in electronic trading, today announced a partnership to provide institutions with enhanced trading tools and access to global exchange-traded funds (ETFs) and fixed income securities.
The effort, which includes the distribution of Virtu's streaming eNAV ETF fair value offering, is expected to launch in the third quarter.
The partnership will provide:
Global, multi-asset and multi-currency coverage to MarketAxess and Virtu RFQ-hub clients...read more
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Source: marketsmedia.com
Tradeweb Surges in Market Debut
April 4, 2019--Bond-trading company's shares jump from $27-a-share price set for IPO
Online bond-trading platform Tradeweb Markets Inc. surged in its market debut Thursday, as investors continued to show strong interest in new issues.
Tradeweb finished its first day of trading at $35.81, up 32.6% from its $27-a-share price set for its initial public offering.
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Source: Wall Street Journal
WisdomTree Launches India Ex-State-Owned Enterprises Fund (IXSE)
April 4, 2019--XSE Offers Access to Growth Potential of India without Government Ownership
April 4, 2019--Launch Emphasizes Firm's Conviction Behind Investing in Non-State-Owned Enterprises in Emerging Markets
WisdomTree (NASDAQ:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced the launch of the WisdomTree India ex-State-Owned Enterprises Fund(IXSE) on the NYSE Arca.
IXSE seeks to track the price and yield performance, before fees and expenses, of the WisdomTree India ex-State-Owned Enterprises Index and has an expense ratio of 0.58%.
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Source: WisdomTree Investments, Inc.
Pacer ETFs Adds $1 Billion to AUM in Just Four Months, Reaching $4 Billion
April 3, 2019--Innovative Strategies Continue to Drive Growth for the Three Year Old ETF Issuer
Pacer ETFs ("Pacer"), an ETF provider that offers passive rules--based strategies, announces the firm surpassed $4 billion in assets under management (AUM) as new products and flagship strategies gain investor attention.
"We are constantly striving to meet our investor"s rapidly changing needs by working to be one step ahead," says President of Pacer ETFs Distributors, Sean O’Hara. "Our products offer financial advisors and investors access to unique strategies that we feel are a testament to how we find areas of opportunity.
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Source: Pacer ETFs
Goldman's Trading Floor Is Going Open-Source-Kind of
April 3, 2019--The bank plans to let outside engineers tinker with some of the code that its traders use to price securities and analyze and manage risk
Getting Goldman Sachs Group Inc.'s view on how much a derivative should cost once required a trading account at the elite Wall Street firm. Soon anyone with a GitHub account will be able to do it.
Goldman later this month plans to release on GitHub, the popular developer-collaboration site, some of the code that its own traders and engineers use to price securities and analyze and manage risk.
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Source: wsj.com
State Street Global Advisors Launches Two Sector Rotation SPDR ETFs
April 3, 2019--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of two actively-managed, sector rotation SPDR ETFs with tactical allocation strategies.
The SPDR SSGA US Sector Rotation ETF (XLSR) and SPDR SSGA Fixed Income Sector Rotation ETF (FISR) are managed by the firm’s Investment Solutions Group (ISG). ISG is comprised of more than 75 strategists, analysts and portfolio managers overseeing more than $266 billion in assets for investors including the world's leading central banks, sovereign wealth funds and pension funds. 1
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Source: State Street Global Advisors
Statement on "Framework for 'Investment Contract' Analysis of Digital Assets"
April 3, 2019--Bill Hinman, Director of Division of Corporation Finance
Valerie Szczepanik, Senior Advisor for Digital Assets and Innovation
Blockchain and distributed ledger technology can catalyze a wide range of innovation. We have seen these technologies used to create financial instruments, sometimes in the form of tokens or coins that can provide investment opportunities like those offered through more traditional forms of securities.
Depending on the nature of the digital asset, including what rights it purports to convey and how it is offered and sold, it may fall within the definition of a security under the U.S. federal securities laws.
As part of a continuing effort to assist those seeking to comply with the U.S. federal securities laws, FinHub is publishing a framework for analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security.
view the Framework for "Investment Contract" Analysis of Digital Assets
Source: SEC.gov
MicroSectorsTM launches Leveraged and Inverse Leveraged U.S. Big Banks Exchange Traded Notes on NYSE Arca
April 3, 2019--REX Shares, LLC (REX) has announced an expansion of their MicroSectorsTM brand with the launch of a suite of Leveraged and Inverse Leveraged Exchange Traded Notes (the ETNs). The ETNs are linked to the Solactive MicroSectorsTN U.S. Big Banks Index (the Index) and will be issued by Bank of Montreal.
These products amplify the MicroSectorsTN brand which was created in January 2018 with the Leveraged and Inverse Leveraged FANG+ linked ETNs. MicroSectorsTN U.S. Big Banks Index 3x Leveraged ETN (symbol: BNKU), MicroSectorsTN U.S. Big Banks Index -3x Inverse Leveraged ETN (symbol: BNKD), MicroSectorsTN U.S. Big Banks Index 2x Leveraged ETN (symbol: BNKO), MicroSectorsTN U.S. Big Banks Index -2x Inverse Leveraged ETN (symbol: BNKZ), and MicroSectorsTN U.S. Big Banks Index Inverse ETN (symbol: KNAB) started trading today on NYSE Arca.
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Source: BMO Financial Group
FTSE Russell appoints new Canada Country Head
April 3, 2019--Paul Bowes appointed Country Head, FTSE Russell Canada
Will lead business development, partnering with clients and key stakeholders
Brings a wealth of experience across fixed income and equity capital markets, indices and derivatives
FTSE Russell, the global index, data and analytics provider, today announced the appointment of Paul Bowes as Country Head, FTSE Russell Canada. In this newly created role, Bowes will be responsible for further developing FTSE Russell Canada's leadership in fixed income market data while expanding its capabilities in multi-asset benchmarks and index-based derivatives.
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Source: FTSE Russell
