Americas ETP News
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SEC Delays Decision on Asset Manager's Bitcoin ETFs Until September
July 24, 2018--The U.S. Securities and Exchange Commission (SEC) has delayed making a decision on whether to approve five bitcoin-related exchange-traded funds (ETFs) until September, public documents reveal on Tuesday.
In the latest edition of the Federal Register, the SEC explains that it is postponing any decision over the possible approval of ETF proposals filed by Direxion Investments in January-one of which will match bitcoin's price and four of which are based on the cryptocurrency's price movements.
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Source: coindesk.com
Crypto Mania 'Deja Vu' Risks Jeopardizing Bitcoin ETF Approval
July 24, 2018--Volatility among the key concerns cited by SEC in January
Fans parsing SEC rules to predict a decision as soon as August
Cryptocurrency enthusiasts may turn out to be their own worst enemy when it comes to an exchange-traded fund backed by Bitcoin.
The largest virtual currency has soared about 40 percent to more than $8,000 since the start of July as speculation mounts that a Bitcoin ETF could be approved by the U.S. Securities and Exchange Commission within weeks.
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Source: Bloomberg
Pacer ETFs Launches New Fund Focused on U.S. Companies That Export Globally
July 24, 2018--U.S. companies that export are poised for long-term growth and may make a wise investment for stockholders.
Investors looking for significant growth opportunities may want to consider the newly launched Pacer U.S. Export Leaders ETF (Ticker: PEXL).
This ETF aims to invest in companies that have historically seen higher earnings and revenue growth as they embrace the larger consumer base of the global market.
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Source: Pacer
SEC Proposes Rules to Simplify and Streamline Disclosures in Certain Registered Debt Offerings
July 24, 2018--The Securities and Exchange Commission today voted to propose rule amendments to simplify and streamline the financial disclosure requirements applicable to registered debt offerings for guarantors and issuers of guaranteed securities, as well as for affiliates whose securities collateralize a registrant's securities.
The proposed amendments to Rules 3-10 and 3-16 of Regulation S-X would focus disclosures on information that is material to investors given the specific facts and circumstances, make the disclosures easier to understand, and reduce the costs and burdens for registrants. By reducing compliance burdens, the proposed amendments should further encourage issuers to register debt offerings, and thus provide investors with additional protections that are not present in unregistered offerings.
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Source: SEC.gov
Davis White Paper-Opportunities in International Equities Today
July 24, 2018--Highlights:
International stocks look attractive today based on valuation and growth metrics, potentially positioning this asset class to generate more competitive returns in the decade ahead.
Actively managed investment strategies have outperformed passive approaches in international equities.
In fact, the majority of actively managed international stock funds have beaten the MSCI ACWI ex US over the one, five, and 10 year trailing periods.
A willingness to look different from the index is a key requirement for outperforming the benchmark over the long term.
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Source: Davis Advisors
AdvisorShares Active ETF Market Share Update-Week Ending 7/20/2018
July 24, 2018--Assets in actively managed ETFs added $1.18 billion last week to reach $59.95 billion in total net assets.
First Trust led new AUM growth with $92 million followed by JP Morgan, which gained $44 million.
There was one fund that launched and no closures, which brought the total of actively managed ETFs currently trading at 236.
At the strategy level, Bank Loan took the lead with $107 million, followed by Global Equity with $52 million.
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Source: AlphaBaskets
Acreage Holdings Announces Closing of $119 Million Private Round-Largest in U.S. Cannabis History
July 23, 2018--Acreage Holdings ("Acreage"), one of the United States' largest vertically integrated multi-state cannabis operators, announced it has successfully closed its Series E funding round. The Company secured $119 million of capital and concurrently completed the rollup of control positions in several U.S. states.
The proceeds raised will be used to prepare the company for its impending public listing.
"The response we received from our investor partners was profoundly encouraging. The combination of monies raised and the rollup cements Acreage as one of the best capitalized companies in the industry with a footprint that is second to none," Kevin Murphy, founder and CEO of Acreage Holdings said. "This gives us an exceptionally strong investment proposition to bring into the public markets in our upcoming listing."
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Source: Acreage Holdings
Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for June 2018
July 23, 2018--Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for June 2018.
Investors cut risk in June 2018 as money moved out of equity and into bond funds. Overall, long-term U.S. open-end funds and ETFs had their greatest outflows since August 2015 of approximately $22.1 billion
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Source: Morningstar
Maker-taker irony as NYSE and Nasdaq challenge SEC
July 22, 2018--Regulator's scrutiny of fee structure highlights need for greater transparency.
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Source: FT.com
U.S. Fund-Flows Weekly Report: Net Outflows From Money Market Funds Dominate the Week
July 20, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) had net outflows of $2.9 billion for the fund-flows week ended Wednesday, July 18. Money market funds (-$6.5 billion) were responsible for all the net-negative flows, while all the other fund asset groups experienced net-positive flows.
Municipal bond funds (+$1.3 billion) had the largest net inflows, followed closely by taxable bond funds (+$1.2 billion) and equity funds (+$1.1 billion).
Market Overview
Both the Dow Jones Industrial Average (+2.02%) and the S&P 500 Index (+1.50%) appreciated for the third straight fund-flows trading week. For this period the Dow and the S&P 500 were up 4.49% and 4.30%, respectively.
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Source: Thomson Reuters
