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AdvisorShares Weekly Market Review-The Ides Of February!
February 5, 2018--Highlights of the Week Ending 2/2/2018
Macro
Although the Tour de France is still a few months away, it feels right to invoke race commentator Paul Sherwen in noting that Alan Greenspan threw a cat amongst the pigeons mid-week, proclaiming that both equities and bonds are in a bubble.
He was referring to equity valuations and historically low yields (up some from those lows) that persisted for many years. The equity market over the last month has arguably traded in a blow off pattern and there is no doubt that that equities by just about any measure are expensive. The other side of the argument comes from many places including Hedgeye who notes that stocks can stay expensive and get more expensive "when both the GDP and US corporate profit cycles are accelerating" which is what they say is occurring now.
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Source: AdvisorShares
New FINRA Rules Take Effect to Protect Seniors and Vulnerable Adults from Financial Exploitation
February 5, 2018--First Uniform, National Standards to Protect Senior Investors
Two FINRA rule changes took effect today addressing the financial exploitation of seniors and vulnerable adults, putting in place the first uniform, national standards to protect senior investors.
Firms are now required to make reasonable efforts to obtain the name of and contact information for a trusted contact person for a customer's account. In addition, the rule permits FINRA member firms to place a temporary hold on a disbursement of funds or securities when there is a reasonable belief of financial exploitation, and to notify the trusted contact of the temporary hold.
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Source: Financial Industry Regulatory Authority (FINRA)
US mutual funds' dead wood is for the chop
February 4, 2018-- Fund managers in the US are keeping their pruning shears sharp. In 2017, for the second year running, US investment companies cut more mutual funds than they launched.
It was only the fifth year in recent decades that recorded a net reduction in funds, according to data from both Morningstar and Lipper...
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Source: FT.com
Index tracking ETFs deny any 'abdication' of stewardship role
February 4, 2018--The rise of exchange traded funds has changed the nature of ownership between listed companies and their investors.
Managers of "physical' ETFs are compelled to own shares because of the stock's inclusion in a particular basket, meaning that they cannot readily divest in protest over a company's...
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Source: FT.com
E*TRADE Significantly Expands Commission-Free ETF Lineup with 80 New Additions
February 2, 2018--E*TRADE FINANCIAL Corporation (NASDAQ:ETFC) today announced a significant expansion of its commission-free exchange-traded fund (ETF) lineup, all of which are non-proprietary:
Since August 1, 2017, E*TRADE has added 80 commission-free ETFs from seven providers to its Commission-Free ETF Program.
With these additions, E*TRADE now offers a total of 225 commission-free ETFs-a 51% increase.
New additions include ETFs from IndexIQ, iShares, Janus Henderson, John Hancock Investments, Legg Mason, NuShares, and PIMCO.
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Source: Business Insider
ETF Securities' Broad Commodity ETF Exceeds $125 Million in Assets
February 2, 2018--The ETFS Bloomberg All Commodity Strategy K-1 Free ETF's (BCI) asset growth to date suggests investors may be looking beyond equities and fixed income
The ETFS Bloomberg All Commodity Strategy K-1 Free ETF (Ticker: BCI) surpassed $125 million in assets under management in January 2018.
This growth suggests investors may be starting to look beyond equities and fixed income for growth and diversification.
"All signs are pointing to a healthy recovery for commodities in 2018 with a steady demand and tight supplies expected to increase prices, and an investor drive to diversify beyond stocks and bonds with securities not correlated to the broad markets," said Steven Dunn, Executive Director and Head of U.S. Distribution at ETF Securities.
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Source: etfsecurities.com
Everyone Calls Bitcoin Investment Trust An ETF, But It's Not; Here's What It Is
February 2, 2018--With the Securities and Exchange Commission shooting down every Bitcoin ETF idea that crosses its desk so far, investors have turned to Bitcoin Investment Trust (GBTC) as a way of gaining exposure to the cryptocurrency.
Although many publications call GBTC an ETF, it's not-it's a grantor trust. It is not registered with the SEC under the Investment Company Act of 1940 and it doesn't trade on an exchange.
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Source: Investor's Business Daily,
Evolve ETFs Announces Filing of Preliminary Prospectus for Actively Managed Blockchain ETF
February 2, 2018--Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for an actively managed ETF that focuses on blockchain technologies, Evolve Blockchain ETF ("LINK").
LINK is designed to provide Canadian investors with an actively managed portfolio of equity securities that are involved in the development and utilization of blockchain and other distributed ledger technologies.
"Blockchain technology is poised to disrupt virtually every business and industry," said Raj Lala, President & CEO of Evolve ETFs.
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Source: Evolve ETFs
KraneShares MSCI All China Health Care ETF (NYSE: KURE) Lists on the New York Stock Exchange
February 2, 2018--Krane Funds Advisors, LLC, ("KraneShares") a U.S. asset management firm known for its China focused KraneShares exchange traded funds (ETFs) and innovative China investment strategies, announced the launch of the KraneShares MSCI All China Health Care Index ETF (NYSE: KURE) listed on the NYSE.
KURE tracks the performance of MSCI China All Shares Health Care 10/40 Index which includes publicly listed companies in Mainland China, Hong Kong and United States that are involved in the healthcare industry, specifically: patent and generic pharmaceuticals, hospital administration, biotechnology, medical equipment production, healthcare IT, and traditional Chinese medicine.
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Source: Krane Funds Advisors, LLC
FTSE Russell launches FTSE Women on Boards Leadership Index Series
February 2, 2018--Index series designed to integrate leadership in gender diversity and social impact into a broad market benchmark
Reflects desire from investors to engage businesses on improving their gender diversity
Factor-based approach increases exposure to companies demonstrating diversity leadership
FTSE Russell today announced the creation of the FTSE Women on Boards Leadership Index Series. The new index series increases exposure to companies based on the strength of their gender diversity leadership at the board level in addition to how well they manage their wider social impact. This is achieved by adopting a factor based approach, tilting stocks to overweight or underweight depending on their gender diversity at board level and social impact score.
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Source: FTSE Russell
