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CBO-The 2018 Long-Term Budget Outlook
June 26, 2018--If current laws remain generally unchanged, CBO projects, federal budget deficits and debt would increase over the next 30 years-reaching the highest level of debt relative to GDP in the nation's history by far.
At 78 percent of gross domestic product (GDP), federal debt held by the public is now at its highest level since shortly after World War II. If current laws generally remained unchanged, CBO projects, growing budget deficits would boost that debt sharply over the next 30 years; it would approach 100 percent of GDP by the end of the next decade and 152 percent by 2048.
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Source: Congressional Budget Office (CBO)
ETFGI reports ETFs and ETPs listed in the US gathered $31.58 Bn US dollars in net inflows during May 2018
June 25, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in the US gathered US$31.58 Bn net inflows during May 2018.
Year-to-date net inflows into US listed ETFs/ETPs reached US$124.80 Bn at the end of May which is significantly less than the US$200.81 Bn compared to this point last year. (All dollar values in USD unless otherwise noted.)
Highlights
ETFs and ETPs listed in the US gathered $31.58 Bn net inflows during May 2018 after suffering net outflows in the second and third month of the year
US-listed Equity ETFs/ETPs gathered $23.90 Bn net inflows during May 2018, followed by Fixed Income with $5.67 Bn and Active ETFs/ETPs with $2.43 Bn
In May 2018, 13 new ETFs/ETPs were launched by 11 providers while 3 ETFs/ETPs were closed compared to 59 in April 2018.
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Source: ETFGI
U.S. Plans to Curb Chinese Tech Investments, Citing Security
June 25, 2018--The Treasury Department is planning to heighten scrutiny of Chinese investments in sensitive U.S. industries under an emergency law, putting Washington's trade war with Beijing on a potentially irreversible course.
Under the plan, the White House would use one of the most significant legal measures available to declare China's investment in U.S. companies involved in technologies such as new-energy vehicles, robotics and aerospace a threat to economic and national security, according to eight people familiar with the plans.
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Source: Bloomberg
Vanguard introduces low-cost actively managed mutual funds in Canada
June 25, 2018--The four new mutual funds feature globally diversified flagship investment strategies
Vanguard Investments Canada Inc. has introduced its first suite of actively managed mutual funds in Canada, that are globally diversified and low-cost.
The mutual funds feature global investment strategies from some of Vanguard's longest-tenured sub-advisors and complement the firm's broad-based lineup of 36 ETFs.
"Vanguard has a deep 40-year history of active management expertise and we are excited to extend that to mutual fund investors in Canada, at a low cost," said Atul Tiwari, managing director of Vanguard Investments Canada Inc.
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Source: Vanguard
WBI Power Factor High Dividend ETF (WBIY) Overtakes $50 Million Milestone
June 25, 2018----WBI Investments, Inc., a leading provider of wealth-building strategies targeting an optimal blend of bear market protection and bull market return, today announced the WBI Power Factor High Dividend ETF (WBIY) has surpassed $50 million in assets under management.
Introduced in December 2016, WBIY is an advanced multi-factor Smart Beta ETF providing investors with a powerful combination of high dividend yield and high-quality fundamentals.
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Source: WBI
ETFGI reports that ETFs and ETPs listed in Canada gathered net inflows of $1.41 Bn US dollars during May 2018
June 25, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Canada gathered US$1.41 Bn in net inflows in May 2018. YTD 2018 net inflows are at US$7.97 Bn, which is less than the US$9.12 Bn in net inflows at this point last year. (All dollar values in USD unless otherwise noted.)
Highlights
Net new assets gathered by ETFs/ETPs listed in Canada were $1.41 Bn in May
May 2018 marked the 8th consecutive month of net inflows into ETFs/ETPs listed in Canada
Assets invested in ETFs/ETPs listed in Canada increased by 1.49% during May from $119.43 Bn in April to $121.20 Bn at the end of May
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Source: ETFGI
Exchange Traded Concepts Announces the Transfer of the HYLD ETF, an industry leading Income Payer from Advisor Shares (NYSE Arca: HYLD)
June 22, 2018-- The Fund was the first actively managed U.S. Corporate High Yield bond ETF launched back in 2010
Exchange Traded Concepts, LLC (ETC), a leader in providing white label Exchange Traded Fund (ETF) solutions, in conjunction with Eve Capital, today announced the transfer of the HYLD-The Peritus High Yield ETF (NYSE Arca: HYLD) to the ETC ELF Trust, previously known as the AdvisorShares Peritus High Yield ETF.
The HYLD Shareholders voted to approve the reorganization.
"We are thrilled to be working with Eve Capital to help revive such a well-known and well-respected product to the investment community," said J. Garrett Stevens, CEO of Exchange Traded Concept.
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Source: Exchange Traded Concepts, LLC
U.S. Fund-Flows Weekly Report: Money Market Funds Suffer Significant Net Outflows
June 22, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) had net-negative flows of $51.6 billion for the fund-flows week ended Wednesday, June 20. The week's net outflows were driven by money market funds, which saw over $51 billion leave their coffers.
This represented the money market fund group's seventh largest net outflows of all-time and its largest since 2011. These net outflows were a function of U.S. corporations withdrawing cash to pay their quarterly tax bill and investors settling their accounts from the previous week's Treasury auction. Among the other asset groups municipal bond funds and taxable bond funds had net inflows of $646 million and $94 million, while equity funds experienced net outflows of $1.3 billion.
Market Overview
The Dow Jones Industrial Average and the S&P 500 Index both were in the red for the fund-flows trading week; the indices closed down 2.16% and 0.30%, respectively.
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Source: Thomson Reuters
Thomson Hine-SEC to Consider ETF Rule Proposal at June 28, 2018 Open Meeting
June 22, 2018--On June 20, 2018, the Securities and Exchange Commission (SEC) announced it will hold an open meeting on Thursday, June 28, 2018, where it is expected to propose the long-awaited "ETF rule."
Proposed Rule 6c-11 under the Investment Company Act of 1940 (1940 Act) would allow new exchange-traded fund (ETF) advisers to enter into the ETF business without having to go through the lengthy exemptive order process. What remains to be seen is whether Rule 6c-11 will contain additional regulations unrelated to the exemptive process.
Currently, an adviser launching its first ETF must file an application to obtain exemptive relief from certain provisions under the 1940 Act prior to launch. SEC review of these applications typically takes at least four months, depending on the novelty of the product. New ETF advisers often file the applications concurrently with new registration statements, which generally have a shorter review period.
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Source: Thompson Hine
AdvisorShares Active ETF Report-April Showers Bring May Flows
June 22, 2018--Month ending 05.31.2018
In May, assets in actively managed ETFs grew by $2.74 billion, or 4.85%, to reach a net total of $56.42 billion. The month witnessed a gain of four funds and a loss of one fund, which boosts the number of actively managed ETFs to 226.
32% of actively managed ETFs eligible for a Morningstar rating carry a three-star rating, which means they provide similar risk-adjusted returns to their category.
74% of actively managed ETFs eligible for a Morningstar rating range from three-star to five-star ratings, which means they provide similar or better risk-adjusted returns compared to their category.
42% of Morningstar-rated actively managed ETFs provide better risk-adjusted returns compared to their category.
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Source: AdvisorShares
