Americas ETP News
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iShares files with the SEC-iShares Emerging Markets Local Currency Bond Fund
February 22, 2012-iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Emerging Markets Local Currency Bond Fund.
view filing
Source: SEC.gov
SEC Filing-SPDR Dow Jones Industrial Average ETF Trust
February 22, 2012--SEC Filing-SPDR Dow Jones Industrial Average ETF Trust-POST Effective Amendment N0. 15 to Form S-6.
view filing
Source: SEC.gov
iShares files with the SEC
February 22, 2012--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Barclays 0-5 Year TIPS Bond Fund.
view filing
Source: SEC.gov
CFTC to delay vote again on swap dealer definition
February 21, 2012--The U.S. futures regulator again delayed a vote on a long-awaited rule that would impose tougher rules on the swaps market by defining who will be a designated swap dealer, making it clearer which energy companies, banks and other firms will have to set aside more funds to cover their deals.
The U.S. Commodity Futures Trading Commission had been scheduled to vote on Thursday on regulations that would define a "swap dealer" and "major swap participant," subjecting them to costly and onerous regulations. The agency removed the rule from its agenda but did not give a reason.
read more
Source: Reuters
Barclays Files with the SEC
February 21, 2012--Barclays has filed a Form 424B2 with the SEC for the Barclays Perpetual Rolling Open Structure Protecting Equity Returns (PROSPER) ETF Series 2 Notes due March 30, 2017.
view filing
Source: SEC.gov
DB Global Equity Research: US ETF Market Weekly Review : ETP AUM hovers at all-time highs, while flows experienced first negative week for the year
February 21, 2012--Net Cash Flows Review
Equity markets were all bullish last week keeping the new-year momentum. The US (S&P 500) was up by 1.48%; other developed and emerging markets outside the US did similarly; the MSCI EAFE (in USD), and the MSCI EM (in USD) were up by 1.64% and 1.99% during the week, respectively.
Moving on to other asset classes, the 10Y Treasury yield rose by 5bps last week, also the DB Liquid Commodity Index increased by 0.97%. Other sectors were mostly positive also, with the exception of Silver. The Agriculture sector (DB Diversified Agriculture Index), Gold, and WTI Crude Oil price increased by 1.45%, 0.08%, and 4.63%, respectively; while Silver fell by 0.90%. Last but not least, Volatility (VIX) decreased to 17.8 recording a 14.5% decrease during the week.
ETP flows had their first negative week for the year last week taking the YTD cash flow figure to $31.1bn. The total US ETP flows from all products registered $2.4bn of outflows during last week vs $3.5bn of inflows the previous week, setting the YTD weekly flows average at +$4.4bn.
ETP markets experienced mixed flows across the three major asset classes, with Equity contributing with the downward pressure, during last week. Equity, Fixed Income, and Commodity ETPs experienced flows of -$4.1bn, +$1.3bn, and +$0.2bn last week vs. +$2.0bn, +$1.5bn, and +$0.4bn the previous week, respectively.
Within Equity ETPs, Large Cap products experienced the largest outflows (-$3.9bn), followed by Small Cap ETPs (-$0.7bn); while Dividend vehicles experienced the largest inflows (+$0.4bn). Within Fixed Income ETPs, Corporate products experienced the largest inflows (+$0.8bn), followed by Sub-Sovereign ETPs (+$0.2bn). Within Commodity ETPs, Gold products recorded the largest inflows (+$0.2bn).
New Launch Calendar:
country strategy, agency, sector debt, the list goes on
There were 17 new ETFs listed during the previous week. The new ETFs offer additional access to developed market, fixed income sovereigns, and agencies; and first-of-its-kind access to US corporate sector debt (financials, industrials and utilities). (See Figure 18 for details)
Turnover Review: ETP trading experienced a soft increase to request report Horizons Gold Yield Fund announces conversion into ETF The Conversion will not impact the monthly distributions declared today in a separate press release for the Fund's Class A and Class F unitholders of record as of February 29, 2012. read more U.S. Bancorp Fund Services Launches Exchange Traded Fund Multiple Series Trust, ETF Series Solutions read more Morgan Stanley-US ETF Weekly Update ETFs posted net outflows for the first time in 2012
13-week flows were mostly positive among asset classes; combined $48.0 bln net inflows
US-Listed ETFs: Estimated Largest Flows by Individual ETF
US-Listed ETFs: Short Interest
Data Unchanged: Based on data as of 1/31/12
EEM exhibited the largest increase in USD short interest since last updated
Financials make up 3 of the 10 most heavily shorted ETFs (defined as shares short/shares outstanding)
US-Listed ETFs: Most Successful Recent Launches by Assets $7.9 billion in total market cap of ETFs less than 1-year old
Over past year, many of the successful launches have a dividend/income orientation
request report PowerShares files with the SEC
Total weekly turnover increased by 8% to $300bn vs. $278bn in the previous week, still about 19% down from last year’s weekly average of $375bn. The largest increase was on Equity ETP turnover, which increased by $29.5bn or 12.3% to $269bn. Fixed Income and Commodity ETP turnover went on the opposite direction with a 23.6% (-$4.5bn) and 16.4% (-$2.8bn) fall, respectively.
Source: Deutsche Bank - Global Equity Research
February 21, 2012-- Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are pleased to announce that the Horizons Gold Yield Fund (the "Fund") will, subject to regulatory approval, convert into an open-end exchange traded fund and be renamed the Horizons Gold Yield ETF after the close of business on February 27, 2012 (the "Conversion").
Upon completion of the Conversion, the Class E units of the ETF (the "Class E Units") will, subject to regulatory approval, begin trading on the Toronto Stock Exchange ("TSX") on February 28, 2012, under the symbol HGY. Concurrent with, but unrelated to, the Conversion, the ETF will begin issuing Advisor Class units (the "Advisor Class Units") which will, subject to regulatory approval, also begin trading on the TSX on February 28, 2012, under the symbol HGY.A.
Source: Horizons Exchange Traded Funds
Milwaukee-based service provider partners with Exchange Traded Concepts and adds AlphaClone, LLC and Zacks Investment Research, Inc. to trust
February 21, 2012--U.S. Bancorp Fund Services, LLC (USBFS) today announced the launch of its first exchange traded fund (ETF) multiple series trust (MST) and a partnership with Exchange Trade Concepts (ETC).
This newest trust, called ETF Series Solutions (ESS), extends the benefits of a shared trust model to one of the industry’s fastest growing segments.
AlphaClone, LLC and Zacks Investment Management will be the first two funds for the trust. AlphaClone will be offering one fund and Zacks Investment Research will be offering two funds, all with unique strategies.
“This new MST and partnership with Exchange Traded Concepts help make entering the ETF market incredibly easy for investment managers,” said Joe Redwine, president of USBFS. "We continuously strive to find new ways to help our clients focus on investing while capitalizing on developments in the market. Our new MST continues that tradition."
Source: Sun Herald.com
February 21, 2012--US ETF Weekly Update
Weekly Flows: $2.5 Billion Net Outflows
ETF Assets Stand at $1.2 Trillion, up 12% YTD
17 ETF Launches Last Week
Global X Closes Eight ETFs
US-Listed ETFs:
Estimated Flows by Market Segment
ETFs generated net outflows of $2.5 bln last week; outflows were led by US Large-Cap Equity ETFs ($3.7 bln net outflows)
Despite last week’s net outflows, only 13% of ETFs actually exhibited net outflows
ETF assets stand at $1.2 tln, up 12% YTD; aggregate net inflows of $30.9 bln YTD
Fixed Income ETFs have consistently generated weekly net inflows (27 consecutive weeks of net inflows)
International – Emerging Market Equity ETFs make up 12% of ETF market cap, down from 15% at the end of 2010, while Fixed Income ETFs make up 17% of ETF market cap, up from 14% over the same time period
SPDR Barclays Capital HY Bond ETF (JNK) posted net inflows of $193 mln last week, most of any ETF
JNK has generated net inflows for 12 consecutive weeks as investors have flocked to high yield debt ($3.3 bln in
net inflows over past 12 weeks); similarly, iShares iBoxx $ High Yield Corporate Bond Fund (HYG) exhibited net inflows of
$3.2 bln over the same time period
For the fourth straight week, SPDR S&P 500 ETF (SPY) posted net outflows ($8.5 bln net outflows over the four weeks)
$241 million in increased short interest and the highest level of shares short since 10/31/11
Despite the increase in short interest, EEM has generated double-digit price returns YTD
SPDR Retail ETF (XRT) continues to be the most heavily shorted ETF as a % of shares outstanding, but is down from 459% over the prior period
Based on multiple borrowings and the ability to continuously create new shares, short interest as a % of market cap can exceed 100%
Data estimated as of 2/17/12 based on daily change in share counts and daily NAVs.
Over the past 13 weeks, newly launched US Dividend Income ETFs generated most net inflows at $761 mln
57 new ETF listings and 8 closures YTD; at this point last year, only 25 ETFs had come to market
7 different ETF sponsors and 2 asset classes represented in top 10 most successful launches
Top 10 most successful launches account for 60% of market cap of ETFs launched over the past year
Source: Morgan Stanley
February 21, 2012--PowerShares has filed a post-effective amendment, registration statement with the SEC.This filing relates solely to the following series of the Registrant:
PowerShares S&P International Developed High Beta Portfolio
PowerShares S&P Emerging Markets High Beta Portfolio
view filing
Source: SEC.gov
