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S&P Dow Jones Indices' Market Attributes: Index Dashboard: Latin America
January 31, 2014--Highlights this month include:
Latin American equities continued to decline in January 2014 as the S&P MILA 40 and S&P Latin America 40, compounded by currency effects, both slid more than 10%. No country or sector of the Latin America BMI managed to buck this trend. Peru, which declined the least among S&P Latin America BMI countries, was down 1% while telecom and industrials were the best performers among sectors.
Similarly, equities across the globe began 2014 in the red, although the pain was not equally distributed. In the U.S., the Dow Jones Industrial Average and S&P 500 declined 5% and 3%, respectively. Outside the U.S., developed markets declined 4% while emerging markets, plagued by currency depreciation, dropped 6%. Appropriately, there was an uptick in volatility as the S&P 500 VIX Short-Term Futures index gained 17%.
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Source: S&P Dow Jones Indices
More Complex ETFs On The Way
January 31, 2013--Exchange-traded fund investors can expect more fixed-income alternatives to hit Canadian markets in 2014, but it won’t be the only trend dictating new ETF issues this year
Equity income, smart beta and currency hedging will also play a huge role in upcoming product launches, say industry participants.
"Most obviously, ETF manufacturers are launching products to offset widely predicted rising rates," said Tyler Mordy, co-CIO at Hahn Investment Stewards in Toronto.
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Source: Financial Post
CFTC.gov Commitments of Traders Reports Update
January 31, 2014--The current reports for the week of January 28, 2014 are now available.
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Source: CFTC.gov
WisdomTree Investments (WETF) Falls Despite Positive Quarterly Results
January 31, 2014--WisdomTree Investments (WETF) was losing 4.6% to $13.76 Friday following its earnings report that beat on revenue and was in-line in earnings.
The investment company posted earnings of 12 cents a share for the fourth quarter, matching the Capital IQ Consensus Estimate. Revenue for the quarter grew 83.1% to $43.2 million, compared to analyst estimates of $42.75 million.
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Source: Thestreet.com
Index funds have record year as passive wins over active
$115B in flows nearly double previous high; active takes in just $38B
January 31, 2014--U.S. investors embraced passive investing in 2013 by pouring a record $115 billion into index mutual funds, almost double the previous high.
Investor deposits into benchmark-tracking funds outstripped the $38.3 billion gathered in 2013 by actively managed mutual funds, according to data compiled by the Investment Company Institute. The previous high for index funds was $61.1 billion in 2007, the data show.
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Source: Investment News
New entrants eye uneasy alliances
January 31, 2014--Fidelity Investments runs businesses in fields as diverse as retail banking and hydroponic tomatoes, but when it came to launching exchange traded funds, it saw fit to ally with one of its fiercest competitors.
Other late entrants into the US ETF market are likely to forge similarly uneasy alliances, given that the three biggest providers - BlackRock's iShares, State Street Global Advisors and Vanguard Investments-control more than 80 per cent of assets and boast first-mover advantage in tracking the major indices, allowing them to pare fees mercilessly.
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Source: FT.com
S&P Dow Jones Indices' Market Attributes: Index Dashboard Canada
January 31, 2014--Highlights this month include:
In contrast to the rest of the world, Canadian equities started 2014 with a modest rise. The S&P/TSX Composite and S&P/TSX 60 were up less than 1% while international equities were in the red. There was an uptick in volatility as the S&P/TSX 60 VIX increased 10%.
In the U.S., the Dow Jones Industrial Average and S&P 500 declined 5% and 3%, respectively. Outside the U.S., developed markets declined 4% while emerging markets, plagued by currency depreciation, dropped 6%. Notably, Latin America fell 10%..
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Source: S&P Dow Jones Indices
New ETF breed faces hurdle of strategy disclosure
January 31, 2014--The next frontier for exchange traded funds is in sight. That is the view of some leading industry figures after recent developments in the multiyear push to get a novel form of active ETFs approved by regulators.
But for these so-called "non-transparent active ETFs" to go live on US markets this year, much will depend on whether asset managers can overcome concerns about how the funds will work without the daily holding disclosures that have been a regulatory cornerstone for US ETFs.
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Source: SEC.gov
S&P Dow Jones Indices' Market Attributes: Index Dashboard US
January 31, 2013--Highlights this month include:
Equities across the globe began 2014 in the red. In the U.S., the Dow Jones Industrial Average and S&P 500 declined 5% and 3%, respectively. Appropriately, there was an uptick in volatility as the S&P 500 VIX Short-Term Futures index gained 17%.
Of the ten S&P 500 sectors, only utilities and health care (not surprisingly) managed to eke out a gain. Consumer discretionary, which was the best performing sector in 2013, fell by 6% this month.
Outside the U.S., developed markets declined 4% while emerging markets, lagued by currency depreciation, dropped 6%. Notably, Latin America fell 10%.
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Source: S&P Dow Jones Indices
CBOE Futures Exchange Announces Launch Date For CBOE Short-Term VIX Futures With Weekly Expirations
Particularly responsive to short-term moves in S&P 500 Index
Combine benefits of VIX futures and SPX Weeklys
January 30, 2014--CBOE Futures Exchange, LLC (CFE(R)) announced today that it plans to launch trading of futures with weekly expirations on the new CBOE Short-Term Volatility IndexSM (ticker symbol: VXSTSM) on Thursday, February 13, pending regulatory review.
Chicago Board Options Exchange® (CBOE(R)) developed the CBOE Short-Term Volatility Index ("VXST Index" or "Short-Term VIX Index") in response to proven demand for WeeklysSM options generally, and volatility contracts that measure a shorter time period in particular. Like CBOE's flagship CBOE Volatility Index(R) (VIX(R) Index), the Short-Term VIX Index reflects investors' consensus view of expected stock market volatility using CBOE's proprietary VIX methodology. Both indexes use S&P 500(R) Index (SPXSM) options in their calculations. The VIX Index uses SPX monthly options to measure expectations of 30-day volatility, while the VXST Index uses SPX options that expire every week (including SPX Weeklys) to gauge expectations of nine-day volatility. The VXST Index's shorter time horizon makes it particularly responsive to short-term volatility triggered by market events such as corporate earnings, government reports and Fed announcements.
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Source: CBOE
