Americas ETP News
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IMF-Brazil: Selected Issues Paper
May 12, 2015--Summary: Overview 1. Developing an economic strategy to scale up infrastructure investment requires establishing the link between infrastructure provisions and growth, determining the infrastructure gap, and identifying financing and optimal provisioning. Areas where Brazil’s competitiveness has lagged include, but are not limited to, education, innovation, governance and justice.
Yet, inadequate infrastructure is increasingly identified as the key bottleneck behind low productivity, stagnating export performance, insufficient domestic market integration, and weak growth potential. Market segmentation caused by divergence in relative prices can have potentially severe social and macroeconomic implications. Income inequality may also increase with market segmentation, as low income producers in rural areas are adversely impacted by difficulties accessing large consumer markets. Several years of underinvestment in infrastructure have contributed to reducing potential growth.
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Source: IMF
Goldman Prepares for Grand Entry into the ETF World
May 12, 2015--The ETF industry has been taking giant strides since last year with many issuers launching products with varied themes, while several others making inroads into the field.
And if 2014 turned out a historic year for the ETF industry with assets hitting the $2 trillion (approximately) mark and over 180 ETFs being rolled out, 2015 looks even more promising
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Source: Nasdaq.com
RBC Global Asset Management introduces a suite of core equity ETFs
New Canadian, U.S. and EAFE equity ETFs offer high-quality portfolios with broad core market exposure
Two new currency-hedged ETFs provide investors with the option to manage their currency risk
May 12, 2015--RBC Global Asset Management Inc. (RBC GAM) today announced the introduction of the RBC Quant Equity Leaders suite of Exchange Traded Funds (ETFs), designed to offer investors and advisors diversified core equity exposure in Canadian, U.S. and international markets.
The five new RBC Quant Equity Leaders ETFs are now available for purchase on the Toronto Stock Exchange (TSX).
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Source: RBC Global Asset Management
BM&FBovespa seeks Latin America bourse stakes, to launch ETFs
May 12, 2015--BM&FBovespa SA, Brazil's sole listed exchange, wants to expand further across Latin America, following the purchase of an 8 percent stake in Chile's Bolsa de Comercio de Santiago, Chief Executive Officer Edemir Pinto said on Tuesday.
Similar stake purchases will continue, Pinto said at an event in São Paulo. Late last year, Pinto said BM&FBovespa had plans to become a minority shareholder in bourses in Argentina, Mexico, Colombia, Chile and Peru.
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Source: Reuters
CFTC Releases Final Interpretation on Forward Contracts with Embedded Volumetric Optionality
May 12, 2015--The U.S. Commodity Futures Trading Commission (CFTC) today released its Final Interpretation on Forward Contracts with Embedded Volumetric Optionality.
The interpretation identifies when an agreement, contract, or transaction would fall within the forward contract exclusions from the "swap" and "future delivery" definitions in the Commodity Exchange Act, notwithstanding that it allows for variations in the delivery amount (i.e., contains "embedded volumetric optionality"). The unanimous vote was conducted via seriatim.
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Federal Register: Forward Contracts With Embedded Volumetric Optionality
Source: CFTC.gov
Follow-the-Data Fed May Play Followthe-Markets to Avoid Shock
May 11, 2015--The Federal Reserve may be about to discover that letting the data drive its decisions on raising interest rates is easier said than done.
Fed Chair Janet Yellen's new strategy, a departure from six years of explicit guidance, calls for adjusting policy according to how the economy evolves. That will make it harder for investors to predict the Fed's decisions, and risks hurting growth if a surprise triggers a surge in bond yields that stifles business investment and starves the housing recovery.
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Source: Bloomberg
BlackRock, TIAA-CREF are big backers of overpaid CEOs
May 10, 2015--BlackRock, the world's largest asset manager, and TIAA-CREF, the leading US retirement provider for teachers and university professors,
are among the biggest supporters of high executive pay, according to As You Sow, a shareholder advocacy group.
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Source: FT.com
US government warns hedge funds pose cyber risk
May 10, 2015--Hedge funds are a weak link in the US financial system's defences against hackers and terrorists, the Obama administration has warned the industry.
The Department of Justice has also told hedge fund investors that their data could be at risk or they could face losses if hackers breach trading systems, and it urged them to put pressure on managers to beef up cyber security.
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Source: FT.com
Fees on Mutual Funds Fall. Thank Yourself.
May 9, 2015-Wall Street is reaping mounting revenue from mutual funds and exchange-traded funds, yet investors are paying lower fees.
That sounds like a good deal for the millions of people who use the funds to invest their savings, and a great deal for the companies that run and sell the funds.
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Source: NY Times
Should you trade your financial adviser for a robo-adviser?
May 8, 2015--If you're someone who likes everything in your life to be automated, you may want to consider automated investing services, also known as robo-advisers.
You invest through these services' websites. First you answer a few questions related to your age, investment goals, risk tolerance and current wealth, For example, Wealthfront, the largest in a crop of automated-investment startups with $2.25 billion of assets under management, asks six questions.
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Source: Bankrate.com
