Americas ETP News
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Precidian Not Finished With Non-Transparent Push
November 17, 2014--Precidian Investments and BlackRock (BLK) formally withdrew applications for so-called non-transparent, actively managed exchange-traded funds late last week after hitting regulatory snags.
Precidian vowed to push on. BlackRock's next move isn't clear.
Both withdrawals aren't surprising given that the Securities and Excahange Commission last month expressed concern about the mechanics of the "blind trust" structure both firms advanced.
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Source: Barron's
BlackRock defends non-disclosure deals
November 16, 2014--BlackRock has defended the practice of asset managers requiring pension funds to sign non-disclosure agreements
despite an outpouring of anger that such arrangements prevent fee transparency
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Source: FT.com
BlackRock, Precidian Pull Applications for New ETF Type
November 14, 2014--BlackRock Inc. (BLK) and Precidian Investments pulled applications for a new type of exchange-traded fund that wouldn't disclose holdings daily, after regulators said they planned to reject them.
Both firms had until Nov. 17 to request a hearing on their applications after the U.S. Securities and Exchange Commission said Oct. 22 that it probably won't approve them. The SEC approved the withdrawal, according to letters dated today.
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Source: Bloomberg
CFTC.gov Commitments of Traders Reports Update
November 14, 2014--The current reports for the week of November 11, 2014 are now available.
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Source: CFTC.gov
Nasdaq to List FlexShares Credit-Scored US Corporate Bond Index Fund
Accessible and Efficient Investment Product Providing Exposure to U.S. Corporate Debt
November 13, 2014--Nasdaq today announced that FlexShares(R) Exchange Traded Funds, sponsored and managed by Northern Trust, will list a new exchange-traded fund, FlexShares Credit-Scored US Corporate Bond Index Fund (Symbol: SKOR), on The Nasdaq Stock Market, SKOR will begin trading today, November 13th, 2014.
"Regulatory changes impacting the fixed income capital markets and persistent low interest rates have caused institutional investors and financial advisors to reassess their investment options for exposure to corporate bonds," said Shundrawn A. Thomas, Executive Vice President and Head of Northern Trusts' Funds and Managed Accounts Group.view more
Source: Nasdaq.com
SEC to Eaton Vance: No 'ETF' for You!
November 13, 2014--Eaton Vance is branding its new fund innovation "NextShares". But what the Boston company can't call the new investment vehicle, even if others do, is an exchange-traded fund, or ETF.
The Securities and Exchange Commission earlier this month indicated it will allow Eaton Vance to offer what has been widely discussed as a new variety of ETF-specifically, a "nontransparent" one that would be actively managed and not have to reveal its holdings each day.
But "we cannot call them that," as a condition imposed by the SEC, says Stephen Clarke, president of Eaton Vance's Navigate Fund Solutions unit.
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Source: Wall Street Journal
Barclays and MSCI announce launch of Green Bond Index
Innovative new index family will track the growing market of bonds issued to fund projects with environmental benefits
November 13, 2014--
Barclays, a publisher of leading broad market bond benchmarks, and MSCI Inc.,
a leading provider of investment decision support tools worldwide, announced today the launch of a new green bond index family measuring the global market of fixed income securities issued to fund projects and initiatives with direct environmental benefits.
The Barclays MSCI Green Bond Index family complements the existing
Barclays MSCI ESG (Environmental, Social, and Governance) Fixed Income Index family, and is now available to
clients.
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Source: Barclays
Building Today's Currency-Hedging Framework-October 2014
November 13, 2014--For years, a weak U.S. dollar meant that leaving the currency exposure of international equities unhedged was a tailwind to return. Whether it was a conscious asset-allocation
decision or the "default" position, maintaining exposure to foreign currencies rewarded investors. But the tide has turned.<
Overview
Despite being a major driver of the total return of international equities for U.S.-based investors, currency
exposure was little discussed until recently. For years, a weak U.S. dollar meant that leaving the currency exposure
of international equities unhedged was a tailwind to return.
Whether it was a conscious asset-allocation decision or the "default" position, maintaining exposure to foreign currencies rewarded investors.
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Source: eutsche Asset & Wealth Management
AdvisorShares Weekly Market Update: Volatility and "Risk"
For the week of November 3-November 7
November 13, 2014--What Will The GOP Midterm Win Mean For Markets?
Macro
Last week was relatively quiet with the biggest news coming from Friday's job data. There were 214,000 jobs created,
the headline unemployment rate ticked down to 5.8% (more precisely it was 5.756%),
the broader U-6 rate came in at
11.6% and the labor force participation rate up-ticked to 62.8%.
Blogger Eddy Elfenbein offered some high level observations on the state of the employment situation through Twitter noting that "to have the same jobs-to-pop ratio of 7 years ago, we'd need 8.7 million more jobs.
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Source: AdvisorShares
Deutsche Asset & Wealth Management Celebrates One-Year Anniversary of Deutsche X-trackers Harvest CSI 300 China A-Shares ETF
DeAWM Offers Largest Suite of China A-shares ETFs in the U.S.
November 12, 2014--Deutsche Asset & Wealth Management is pleased to announce that Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (NYSE ticker: ASHR), the first U.S. exchange-traded fund ("ETF") to directly invest in the China A-shares market, has reached a milestone of one-year trading. Since its launch, ASHR has grown to over $479 million in assets with an average daily volume of 267,000 shares.
"Deutsche Asset & Wealth Management fundamentally changed the way U.S. investors access the Chinese equity markets when we launched the Deutsche X-trackers Harvest CSI 300 China A-Shares ETF last November." said Fiona Bassett, Head of Deutsche Asset & Wealth Management's Passive Business in the Americas.
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Source: Deutsche Asset & Wealth Management
