Americas ETP News
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BlackRock Plans to Exclude Gun Makers, Sellers From Some Funds
April 5, 2018--Move by BlackRock comes in the wake of Florida shooting
Company also starting gun-free strategies for 401(k) plans
BlackRock Inc., the world's largest asset manager, plans to start two exchange-traded funds that will exclude civilian firearm makers and large sellers in the wake of the Florida high school shooting.
The iShares MSCI USA Small-Cap ESG Optimized ETF, which will start trading on or about April 12- will track investment results of an index that is mostly made up of small-cap U.S. companies-according to a company release Thursday.
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Source: Bloomberg
Canadian securities regulators report on climate change-related disclosure project
April 5, 2018--The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-354 Report on Climate change-related Disclosure Project. The report summarizes the findings of the CSA's previously announced project to review the disclosure by reporting issuers of risks and financial impacts associated with climate change, and outlines its plans for future work.
"We now have a better understanding of the current state of climate change-related disclosure in Canada," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers."Moving forward, we will aim to improve the disclosure of risks and related governance and oversight processes, while recognizing both investors' and issuers' perspectives."
view the CSA Staff Notice 51-354 Report on Climate change-related Disclosure Project
Source: Canadian Securities Administrators
DWS expands Xtrackers factor ETF suite
April 5, 2018--QARP to offer exposure to high-quality stocks with favorable valuations
DWS announced today the launch of a new quality factor exchange-traded fund (ETF)-Xtrackers Russell 1000 US QARP ETF (NYSE Arca:QARP).
The fund seeks investment results that generally correspond to the performance of the underlying index that aims to identify companies that have strong quality scores relative to their peers, while also looking at the value scores of the securities to avoid those quality companies that are potentially over-priced. The quality focus also seeks to avoid "value traps"-companies with favorable valuation metrics as they approach bankruptcy, that a pure value exposure would likely fall into.
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Source: DWS Group
Top mutual funds to disclose new active-management metric
April 5, 2018--With the Trump administration slowly rolling back regulations, state governments are taking consumer protections into their own hands.
Thirteen mutual fund behemoths, including the likes of Vanguard, BlackRock and Goldman Sachs, have agreed to disclose more information about their actively-managed funds, after a new investigation by the New York attorney general's office found retail investors have unequal access to important fund information.
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Source: financial-planning.com
BlackRock-Client update on civilian firearms exposures in investment portfolios
April 5, 2018--BlackRock issued a client bulletin on March 2nd outlining our approach to companies that manufacture and sell civilian firearms. In that bulletin, we committed to addressing the issue of firearms companies held in index portfolios in two ways:
Offering our clients more choice of products that exclude firearms manufacturers and/or retailers.
As a fiduciary, engaging with firearms manufacturers and retailers in which our clients are invested, regarding business policies and practices connected with the production and sale of firearms.
Both of these initiatives are ongoing. Today, we are providing an update on certain steps we are taking-in response to client interest-to enhance our Environmental, Social and Governance (ESG) and other index product offerings to provide more choice for clients seeking to exclude firearms companies from their portfolios. These steps include:
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Source: BlackRock
Little Harbor Advisors, LLC Launches the LHA Market StateTM U.S. Tactical ETF (Ticker Symbol: MSUS)
April 4, 2018--New ETF Uses Artificial Intelligence to Manage Net Exposure to the U.S. Equity Market
Investment firm Little Harbor Advisors, LLC has launched its first exchange-traded fund. The fund uses Bayesian statistical techniques to infer the probability of change in price direction of the broad U.S. equity market.
The LHA Market StateTM U.S. Tactical ETF (Ticker Symbol: MSUS) applies these techniques to the U.S. equity market to manage the net-long exposure of the MSUS ranging between zero (out of the market) and 160%.
MSUS seeks to provide investment results that exceed the total return performance of the broader U.S. equity market on a risk-adjusted basis. MSUS will attempt to achieve this objective by seeking to reduce net exposure to the U.S. equity market in order to minimize losses in market downdrafts and to enhance net exposure and returns during market rallies.
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Source: Little Harbor Advisors, LLC
CFTC.gov Swaps Report Update
April 4, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
BNY Mellon DR Index Monthly Performance-March 2018
April 4, 2018--The BNY Mellon DR Index Monthly Performance for March 2018 report is now available.
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Source: BNY Mellon
Learnedly launches the ETF Proficiency Course for Canadian Mutual Fund Dealer Representatives
April 4, 2018--Learnedly has newly launched the ETF Proficiency Course, an exchange traded funds (ETF) training course that follows the curriculum requirements set out by the Mutual Fund Dealers Association of Canada (MFDA) that allow mutual fund representatives to satisfy the proficiency requirements to offer ETFs to clients.
"ETFs are a growing part of the investment landscape for Canadians," says John Waldron, Learnedly's founder. "We created this course to help more financial professionals have meaningful discussions with their clients about ETFs and how they can fit in a client's overall investment strategy."
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Source: Learnedly
Renaissance Capital-Scheduled U.S. IPOs this week
April 4, 2018--Scheduled U.S. IPOs-Week of 04/09/18
Zuora (ZUO)-San Mateo, CA
Deal Size: $100 mil Exchange: NYSE
Lead Underwriter: Goldman Sachs
Provides a cloud-based subscription billing and management platform. View more...
IPO Commentary
Spotify opens at $166 and declines to $149 on first day of trading
Spotify (SPOT) began trading on the NYSE on Tuesday. The stock opened at $165.90, a 38% premium to the $120.50 stock price used in the company's internal valuation in December and a 25% premium to the $132.50 high end... read more
IPO Index Performance
The Renaissance IPO Index has returned 1.1% so far this year,
compared to -0.4% for the S&P 500.
IPOUSA
IPO Activity
There have been 45 IPOs priced so far this year, a +55% change from last year.
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Source: Renaissance Capital
