Americas ETP News
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New York Life Bets on ETFs Copying Hedge Funds ...
December 4, 2014--New York Life Insurance Co. agreed to buy asset manager IndexIQ, pushing into exchange-traded funds and adding offerings for retail investors who want to copy hedge-fund approaches.
The transaction "puts us into the forefront of two very important growth trends in the industry," Drew Lawton, chief executive officer of New York Life Investment Management, said in an interview.
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Source: Bloomberg
New York Life to enter ETF market with acquisition of IndexIQ
November 4, 2014--New York Life Insurance Co is jumping into the nearly $2 trillion U.S. exchange-traded funds market with its plan to acquire ETF provider IndexIQ.
The mutual life insurance company said Thursday its asset management business, New York Life Investment Management, was set to acquire Rye Brook, New York-based IndexIQ, well known for its alternative investment strategies.
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Source: Reuters
First Trust Cross-Lists Five Additional ETFs In Mexico
December 4, 2014--First Trust Advisors L.P. ("First Trust"), a global ETF provider and asset manager, today announced that it has cross-listed five additional exchange-traded funds (ETFs) on the Mexican stock exchange, Bolsa Mexicana de Valores (BMV).
First Trust first entered the Mexican market in 2011. The additional listings bring the total number of Mexican listed First Trust ETFs to 37. "We continue to see a growing number of Mexican investors utilize ETFs to meet their investment needs, and through investments like our newly listed ETFs, we hope to help our clients navigate these difficult markets," said Codie Sanchez Baker, First Trust Latin America Investment Distribution.
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Source: thestreet.com
Availability of New White Paper Examining Avoidable Structural Costs of Actively Managed Mutual Funds and their Impact on Fund Performance
December 3, 2014--Navigate Fund Solutions LLC (Navigate), a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today the availability of a new white paper that examines the avoidable structural costs of actively managed mutual funds and their impact on fund performance.
The white paper may be accessed at no cost at nextshares.com/whitepaper. Reproducing or distributing the white paper in any form without permission is strictly prohibited.
As described in the paper, the performance of actively managed mutual funds reflects significant fund costs in addition to manager fees, asset custody charges and the cost of portfolio trades to implement managers' buy and sell decisions.
view the NextShares white paper-Avoidable Structural Costs of Actively Managed Mutual Funds
Source: Eaton Vance Corp.
CFTC.gov Swaps Report Update
December 3, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Midweek Market Pulse: Market News and Index Movers-Black Friday for Black Gold
December 3, 2014--The precipitous decline in crude oil prices continued this week as OPEC maintained current production levels. WTI Crude contracts slid 10.2% on Friday, as market prices converge toward domestic producers’ break-even production costs.
While the slide in crude prices may be hurting domestic tight oil producers, this move is seen as a boon to the overall domestic economy. 208,000 jobs were added in November according to the recent ADP report, continuing a recovery trend which began after the recession ended in 2013. US auto sales increased 4.6% last month as lower gasoline prices spurred demand. Gold prices turned slightly positive for the year, settling around $1210/oz in morning trading.
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Source: Nasdaq.com
BNY Mellon ADR Index Monthly Performance Update-Data as of November 30, 2014
December 3, 2014--The BNY Mellon ADR Index Monthly Performance Update is now available.
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Source: BNY Mellon
Morgan Stabley-ETF Semi-Annual Report
December 3, 2014--What’s New
With 1,449 ETFs listed in the US as of 11/25/14, it is not practical to provide research on every ETF. We currently publish one-page profiles only on a coverage universe of
larger and more liquid ETFs with attractive investment
attributes across each market segment.
Basic data on all available US-listed ETFs are still included on pages 4-31,
where we highlight in bold our favored ETFs in each market segment of our coverage universe. Selection criteria
for favored ETFs include Morgan Stanley & Co.'s market outlook, index composition, ETF expenses, and liquidity.
Semi-Annual Report: $2.0 Trillion in 1,449 ETFs
Our semi-annual report on US-listed ETFs includes a summary of investment applications, excerpts from our strategy reports, our outlook for related markets, index data, and individual profiles for the 346 ETFs in our coverage universe, which represents 87% of US-listed ETF assets.
ETFs posted net inflows of $46.7 billion in 3Q14, above the $40.3 billion average quarterly rate of net inflows since the beginning of 2011. US Large-Cap ETFs had the largest net inflows during the third quarter, at $18.8 billion, with the SPDR S&P 500 ETF (SPY) accounting for 55% of the category's net inflows. Conversely, US Sector & Industry ETFs exhibited net outflows of $1.3 billion, the most of any category we measured. Furthermore, there were 50 ETFs launched in 3Q14 and there are currently 1,449 ETFs with $2.0 trillion in assets.
ETFs provide access to favored market segments. Morgan Stanley Wealth Management's Global Investment Committee (GIC) favors equities over fixed income. Within equities, the GIC recommends international developed markets based on current valuations and earnings growth potential while advocating selectivity in fixed income. We list favored areas in the report and ways to implement these ideas via ETFs.
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Source: Morgan Stanley
CBOE Holdings Reports All-Time Record Trading Volume in October
December 3, 2014--Volume Averages a Record 7 Million Contracts Per Day-Up 29% from October 2013 and 37% from September 2014
-CBOE, CFE, C2 Establish New Monthly Volume Records
-Index Options, SPX, VIX Options and VIX Futures Set New Records
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that trading volume for options contracts on Chicago Board Options Exchange(R)(CBOE(R)) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) set an all-time monthly record of 163.08 million contracts in October.
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Source: CBOE
UBS ETRACS Launches New ETN Linked to the S&P 500 VEQTOR Switch Index
ETRACS S&P 500 VEQTOR Switch ETN
December 3, 2014--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca(R) for the ETRACS S&P 500 VEQTOR Switch ETN (NYSE Arca(R): VQTS). VQTS is linked to the performance of the S&P 500 VEQTOR Switch Index (the "Index").
VQTS Offers Investors:
Strategy linked to volatility targeted S&P 500 Index and long/short VIX futures strategy
VIX futures component aims to capture VIX roll yields and volatility drops (when allocated to short positions in VIX futures) and capture VIX upside during volatility spikes (when allocated to long positions in VIX futures)
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Source: UBS
