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Thomson Reuters-U.S. Weekly FundFlows Insight Report: Politics, Trade Wars, and Facebook, Oh My: Equity Funds Hand Back $14.4 Billion for the Week
March 29, 2018--For the third week in a row investors were net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $11.9 billion. While fund investors were net redeemers of equity funds (-$14.4 billion), they padded the coffers of money market funds (+$2.4 billion), taxable bond funds (+$121 million), and municipal bond funds (+$37 million) for the fund-flows week ended March 28, 2018.
Market Wrap-Up
Despite relatively strong economic reports released during the flows week, concerns over a trade war with China and privacy issues pressured the markets on four of the five trading days as investors began to understand the importance of the Cambridge Analytica-Facebook debacle.
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Source: Thomson Reuters
OSC outlines key areas of focus for 2018-2019
March 29, 2018--The Ontario Securities Commission (OSC) today published for comment its 2018-2019 Draft Statement of Priorities. The draft includes 14 priority areas the OSC plans to focus on next fiscal year.
"We are pursuing an ambitious regulatory agenda that is responsive to our evolving capital markets," said Maureen Jensen, Chair and CEO of the OSC. "We will continue to support fintech innovation, advance measures to better protect investors, and initiate projects to lighten the regulatory load for businesses."
The OSC will continue to foster new ways to raise capital and invest, while focusing on potential investor protection issues arising from cryptocurrency and blockchain-related developments. The OSC also intends to advance key investor protection measures, including publishing reforms that address the best interests of the client, and defining actions on embedded commissions.
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Source: Ontario Securities Commission
Amplify ETFS to Liquidate the Amplify YieldShares Oil-Hedged MLP Income ETF (AMLX)
March 29, 2018--Amplify ETFs today announced the scheduled liquidation of the Amplify YieldShares Oil-Hedged MLP Income ETF (CBOE BZX: AMLX) (the "Fund").
Based upon the recommendation of Amplify Investments LLC, the Fund's investment adviser, the Board of Trustees of the Amplify ETF Trust unanimously determined that it was in the best interests of the Fund and its shareholders to liquidate the Fund.
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Source: Amplify ETFs
CFTC.gov Swaps Report Update
March 28, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Renaissance Capital's 1Q18 IPO Market Review
March 28, 2018--Mega Deals Drive Biggest First Quarter in a Decade
The US IPO market had its best quarter by proceeds in three years, raising $15.6 billion with 43 IPOs. Several large deals, including well-known brands ADT and Hudson, resulted in the largest 1Q by proceeds since 2008.
Biotechs and technology led deal flow, with 13 and 10 IPOs, respectively. Headlines during the quarter focused on cloud storage unicorn Dropbox, but the best returns were put up by biotechs Menlo Therapeutics and ARMO BioSciences and cloud security unicorn Zcaler.
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Source: Renaissance Capital
AdvisorShares Active ETF Report: February Flows Weren't Turbulent
March 28, 2018--Assets in actively managed ETFs grew by $990 million in February to reach $49.42 billion in total assets, overcoming the 10% market panic early in the month. Seven new active ETFs launched in February, including six new funds from Vanguard, which has now officially entered the active ETF space.
Last month, we recapped what was a record monthly flow for ETFs in January. February was a different story and consistent with the 4-5% declines for the major US
equity indexes. Although assets in ETFs-both active and passive — contracted in February, the dip was a mere six basis points. Corporate High Yield, which is often a proxy for risk, saw a net decline of $5 billion, or roughly 10% of its AUM, as the segment was viewed as a source of liquidity during the equity market downdraft.
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Source: AdvisorShares
U.S. fourth-quarter growth revised up to 2.9 percent; consumer spending surges
March 28, 2018--U.S. economic growth slowed less than previously estimated in the fourth quarter as the biggest gain in consumer spending in three years partially offset the drag from a jump in imports.
Gross domestic product expanded at a 2.9 percent annual rate in the final three months of 2017, instead of the previously reported 2.5 percent, the Commerce Department said in its third estimate for the quarter on Wednesday.
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Source: Reuters
Evolve ETFs and Foyston, Gordon & Payne Inc. File Final Prospectus for Evolve Active Core Fixed Income ETF
March 28, 2018--FIXD Will Begin Trading on the NEO Exchange on March 29, 2018
Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed a final prospectus to launch the Evolve Active Core Fixed Income ETF ("FIXD"). Evolve ETFs has retained Foyston, Gordon & Payne Inc. ("FGP") to provide sub-advisory services to FIXD.
Units of ticker symbol FIXD have been approved for listing on the NEO Exchange ("NEO") to begin trading on March 29, 2018, subject to confirmation of closing.
FIXD seeks to generate an attractive total investment return through income and long term capital appreciation primarily through investments in debt obligations and other evidences of indebtedness of Canadian, U.S., and international issuers.
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Source: Evolve ETFs
New Dynamic iShares Active ETF for Rising Interest Rate Environment
March 28, 2018--Dynamic Funds and BlackRock Asset Management Canada Limited ("BlackRock Canada") today announced the launch of Dynamic iShares Active Investment Grade Floating Rate ETF (TSX Ticker: DXV).
DXV aims to provide a floating rate of interest income while preserving capital by investing primarily in Canadian investment grade corporate bonds and through using interest rate derivatives that seek to mitigate the effects of interest rate fluctuations. The ETF will provide exposure to an active investment strategy managed by Marc-André Gaudreau.
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Source: Dynamic Funds
Across Generations, Women Trail Men in Financial Knowledge-but the Gap May Be Closing
March 28, 2018--Women consistently lag behind men on financial and investor literacy scores across generations of boomers, gen Xers and millennials, according to a multi-year study by the FINRA Investor Education Foundation.
In 2015, the gap in financial literacy between boomer men and women was 19 percent, and for gen Xers 18 percent. But for millennials, it was only 10 percent.
"It is encouraging that the gap in financial literacy and self-assessed financial knowledge appears to be narrowing for millennials-a trend that bodes well for women in the future," said FINRA Foundation President Gerri Walsh.
view the FIRNA-Gender, Generation and Financial
Knowledge: A Six-Year Perspective study
Source: Financial Industry Regulatory Authority (FINRA)
