Americas ETP News
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Eaton Vance signs first client for nontransparent ETPs
January 18, 2015--American Beacon has inked a deal with Eaton Vance's Navigate Fund Solutions subsidiary to use the NextShares model for its own line of nontransparent exchange traded products.
Fort Worth, Texas-based American Beacon is the first third-party manager to license the NextShares brand and technology.
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Source: FT.com
Pimco takes $200bn hit in outflows
January 17, 2015-Pimco's assets under management fell 16 per cent in the fourth quarter of 2014, as the company dealt with the fallout of the departure of its founder Bill Gross.
The company was managing $1.27tn of client money at the end of December, compared to $1.47tn at the end of September.
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Source: FT
AdvisorShares Announces the Closure of Two of Its Four Currency Hedged Gold ETFs
January 16, 2015--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today the consolidation of its 40 Act Currency Hedged Gold ETF suite.
The AdvisorShares Gartman Gold/Euro ETF (NYSE Arca: GEUR) and the AdvisorShares Gartman Gold/Yen ETF (NYSE Arca: GYEN) backed by their ongoing growth and investor interest will remain open for new shareholders.
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Source: AdvisorShares
PowerShares Canada to terminate two ETFs
January 16, 2015--PowerShares Canada today announced that it will terminate PowerShares S&P/TSX Composite High Beta Index ETF ("THB") and PowerShares S&P 500 High Beta (CAD Hedged) Index ETF ("UHB") [the "ETFs"] effective the close of business on or about April 6, 2015.
Effective close of business March 20, 2015, no further direct subscriptions for units of the ETFs will be accepted by PowerShares Canada.
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Source:Invesco Canada Ltd.
Listing requirements for ETFs
TSX proposals would introduce listing requirements for ETFs, closed-end funds and structured products
January 16, 2015--The Toronto Stock Exchange (TSX) is proposing to introduce listing requirements for the growing crop of non-corporate issuers, such as exchange traded funds (ETFs), closed-end funds, and structured products.
The exchange has published a set of proposed rule amendments for comment that would introduce listing requirements for exchange-traded products (including both ETFs and exchange-traded notes (ETNs)), structured products, and closed-end funds. In a notice detailing the proposals, the TSX indicates that the ranks of ETF providers has been growing in recent years, and it expects more to enter the market in the years ahead.
view the TORONTO STOCK EXCHANGE REQUEST FOR COMMENTS AMENDMENTS TO TORONTO STOCK EXCHANGE COMPANY MANUAL
Source: Investment Executive
AdvisorShares Weekly Market Update-Job Report Sends Mixed Signals
For the week of December 29-January 2
January 15, 2015--The non-farms jobs report delivered 252,000 new jobs created with the headline unemployment rate dropping to 5.6%.
The broader U6 measure down ticked to 11.2% In 2014 there was
a total of 2.9 million new jobs for the calendar year which was the most for one year since 1999. On the negative side, average hourly earnings decreased by 0.2% and the labor force participation rate fell 62.7%.
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Source: AdvisorShares
Fee Rate Advisory #3 for Fiscal Year 2015
January 15, 2015--The Securities and Exchange Commission today announced that starting on Feb. 14, 2015, the fee rates applicable to most securities transactions will be set at $18.40 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $22.10 per million for transactions occurring on charge dates through Feb. 13, 2015, and a rate of $18.40 per million for transactions occurring on charge dates on or after Feb. 14, 2015.
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Source: SEC.gov
BlackRock income falls amid fund outflows
January 15, 2015-BlackRock is pushing a "third way" for investors amid a crisis of confidence in active fund managers and the relentless rise of passive investing.
The world's largest asset manager's latest quarterly results reflected a disappointing period for stockpickers, hit by poor performance fees from its hedge funds business and outflows from its active equity funds, even as its assets under management swelled to $4.65tn.
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Source: FT.com
U.S.-based stock funds post $4.1 billion outflows in week: Lipper
January 15, 2015--Investors in U.S.-based funds pulled $4.1 billion out of stock funds in the week ended Jan. 14, the second straight week of net outflows, data from Thomson Reuters' Lipper service showed on Thursday.
Exchange-traded funds, thought to represent the behavior of institutional investors, saw net outflows of $3.64 billion.
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Source: Reuters
American Beacon Advisors Announces Initiative To Launch NextSharesTM Exchange-Traded Managed Funds
Firm Is First Outside Licensee of NextShares
January 15, 2015--American Beacon Advisors, Inc. ("American Beacon"), an experienced provider of investment advisory services to institutional and retail markets, announced today it has entered into a preliminary agreement with Navigate Fund Solutions LLC ("Navigate"), a subsidiary of Eaton Vance Corp., to support the launch by American Beacon of a family of NextSharesTM exchange-traded managed funds.
American Beacon also announced that it has established the American Beacon NextSharesTM Trust (the "Trust") and filed an application with the U.S. Securities and Exchange Commission seeking exemptive relief to permit the firm to offer NextShares. The application incorporates by reference the terms and conditions of the exemptive order granted to Eaton Vance Management and related parties on December 2, 2014.
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Source: American Beacon Advisors
