Americas ETP News
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ProShares 'Temporarily' Suspends Shares Creations in 11 ETFs
Possible 'Significiant Variation' Between Shares' Market Price, Net Asset Value During Suspension
May 2, 2014--Exchange-traded fund issuer ProShare Capital Management LLC "temporarily" suspended shares creations in 11 of its ETFs on Friday due to a regulatory filing issue the company expects to be resolved in a few days, according to a spokesman.
The suspension affects ETFs including the $204 million ProShares Short VIX Short-Term Futures ETF, and curtails the ability of specialized dealers to create new ETF shares, possibly increasing investors' trading costs.
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Source: Wall Street Journal
United States Commodity Funds lowers management fees on 4 ETPs
May 2, 2014--United States Commodity Funds (USCF) announced that effective today, the management fees of four of its exchange-traded products will be contractually lowered through December 31, 2015.
With this new contractual fee waiver, the maximum management fee for the United States Commodity Index Fund (USCI) will be limited to 0.80%. For United States Copper Index Fund (CPER), United States Metals Index Fund (USMI) and United States Agriculture Index Fund (USAG) the maximum management fee will be limited to 0.65%.
"These funds were designed with the buy-and-hold investor in mind, and we want to demonstrate that we also view these as long,term investments." stated John Hyland, USCF's Chief Investment Officer.
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Source: United States Commodity Funds
iShares Launches the First ETFs to Access the Newest Emerging Markets Qatar and UAE
iShares offers an easy and cost effective way to invest in single country emerging markets
May 1, 2014--iShares, the exchange-traded fund (ETF) business of BlackRock, launched the iShares MSCI Qatar Capped ETF (QAT) and iShares MSCI UAE Capped ETF (UAE) on the NASDAQ.
They are the first ETFs to provide single country exposure to two countries that MSCI will graduate from Frontier Markets to Emerging Markets status at the end of May.
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Source: iShares
Barclays Bank PLC to Redeem Three Canada-Listed ETNs
May 1, 2014--Barclays Bank PLC ("Barclays") announced today that it has elected to redeem the following three Toronto Stock Exchange-listed iPath(R) exchange traded notes (ETNs):
iPath(R) S&P 500 VIX Short-Term Futures(TM) CAD Hedged ETN (ticker: VIX)
iPath(R) S&P 500 Dynamic VIX CAD Hedged ETN (ticker: DVX)
iPath(R) Pure Beta Crude Oil CAD Hedged ETN (ticker: PBO)
"Canadian investors continue to prefer our US dollar-denominated ETNs over the Canadian dollar-denominated ETNs," said Ian Merrill, Head of ETNs, Americas.
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Source: Barclays Bank PLC
Horizons ETFs announces changes to the Horizons Universa Canadian Black Swan ETF and name changes
May 1, 2014--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are announcing that, effective immediately, Horizons ETFs and Universa Investments L.P. ("Universa") have mutually agreed that the day-to-day portfolio management responsibilities for the Horizons Universa Canadian Black Swan ETF (the "ETF" or "HUT") will be assumed by Horizons ETFs, the investment manager to the ETF.
his change will allow Universa to focus its efforts and expertise on the Horizons Universa US Black Swan ETF ("HUS") which will continue to be sub-advised by Universa.
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Source: Horizons ETFs Management (Canada) Inc
HAP Changes Name to Coincide with Index Rebranding
May 1, 2014--Effective May 1, 2014, the Market Vectors RVE Hard Assets Producers ETF will change its name to Market Vectors Natural Resources ETF (NYSE Arca:HAP).
This follows the rebranding of the Fund's benchmark index from the RogersTM-Van Eck Hard Assets Producers Index to the RogersTM-Van Eck Natural Resources Index. The Index-s methodology and underlying constituents remain unchanged while the rebranding effort better aligns the Index with the industry segment it seeks to represent.
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Source: Market Vectors
CFTC Further Implements Trade Execution Mandate
May 1, 2014--The Commodity Futures Trading Commission's (CFTC or Commission) Divisions of Market Oversight (DMO) and Clearing and Risk (DCR) announced today further implementation of the trade execution requirement for certain
interest rate and credit default swaps.
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Source: CFTC.gov
Deutsche Bank Targets BlackRock's $7 Billion China ETFs
April 30, 2014--BlackRock's two China exchange traded funds just got some serious competition, this time from the Germans.
Deutsche Asset & Wealth Management brings with it $1.7 trillion of assets and financial product creating muscle to the Chinese ETF space with the launch of its new db X-Trackers Harvest MSCI All China (CN) fund. This is like every BlackRock iShare product rolled into one with a kick of Hoisin sauce.
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Source: Forbes
Vanguard reports April 2014 expense ratio changes
April 30, 2014--A number of Vanguard mutual funds and ETFs reported expense ratio changes during April 2014.
Among the funds and ETFs available to institutional investors, 5 had increases and 53 had decreases, as shown in the table below.
view more NYSE Arca, NYSE MKT launch trading and liquidity enhancements for ETPs view more
Source: Vanguard
April 30, 2014--NYSE Arca and NYSE MKT announced a set of enhancements designed to increase liquidity and market quality in Exchange Traded Products (ETPs), while advancing the listing and trading experience of the ETP community.
Each of the initiatives is pursuant to rules filed with the U.S. Securities and Exchange Commission (SEC).
Source: Banking Business Review
