Americas ETP News
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ConvergEx Group Announces Expanded ETF Relationship With IndexIQ
May 24, 2011--ConvergEx Group, a leading technology company, today announced that it has expanded its relationship with alternative investment firm IndexIQ. IndexIQ is now live on ConvergEx's award-winning order management system, the Eze OMS, and ConvergEx has also signed an agreement to be an authorized participant for IndexIQ's suite of exchange traded funds (ETFs).
Based in Rye Brook, New York, IndexIQ is a leading developer of index-based liquid alternative investment solutions that combine the benefits of traditional index investing with the risk-adjusted return potential sought by active managers.
As a client of the Eze OMS, IndexIQ leverages Eze's extensive portfolio management and modeling capabilities to rebalance ETFs against Standard & Poor's market indices on a daily basis and against internally generated indices on a monthly basis. IndexIQ also uses the Eze OMS to manage real-time cash inflows and redemptions.
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Source: PRNewswire
SIFMA Statement on Passage of Deadline Extension Legislation for Dodd-Frank Derivatives Rulemaking
May 24, 2011--SIFMA today released the following statement from Ken Bentsen, executive vice president, public policy and advocacy, upon passage by the House Financial Services Committee of H.R. 1573, legislation that would extend the effective implementation date for the derivatives-related section of the Dodd-Frank Act.
“Dodd-Frank created a whole new regulatory structure for derivatives markets and it is vitally important to our economy that regulators get this new structure and the underlying rules right. While we remain committed to fully implementing the derivatives provisions in the Act, we believe that the current July 21, 2011 deadline does not provide adequate time for regulators to consider the critical issues related to this new regulatory system for over the counter derivatives markets.
“This legislation would provide additional time for regulators to draft rules, conduct additional cost-benefit analysis and consider the cumulative impacts of these rules on the market and how they would affect businesses and consumers.”
Source: SIFMA
Dow Jones Emerging Markets Technology Titans 30 Index
May 24, 2011--Dow Jones Indexes, a leading global index provider, today announced that Longtop Financial Technologies Ltd. ADS (China, Technology, LFT) will be removed from the Dow Jones Emerging Markets Technology Titans 30 Index.
Longtop Financial Technologies Ltd. ADS (China, Technology, LFT) will be replaced by TCL Communication Technology Holdings (China, Technology, 2618.HK) in the Dow Jones Emerging Markets Technology Titans 30 Index. Longtop Financial Technologies Ltd. ADS is being removed due to failure to meet index eligibility requirements. All changes in the Dow Jones Emerging Markets Technology Titans 30 Index will be effective before the open of trading on Friday, May 27, 2011.
The Dow Jones Emerging Markets Technology Titans 30 Index measures the stock performance of 30 leading emerging-market companies in the Technology Industry as defined by the Industry Classification Benchmark (ICB). Stocks are selected to the index based on size, revenue and net profit. The index is weighted by float market capitalization.
Further information on the Dow Jones Emerging Markets Technology Titans 30 Index can be found on http://www.djindexes.com.
Source: Dow Jones Indexes
Northern Trust launches emerging manager funds for institutional investors
May 23, 2011--Northern Trust has launched two emerging manager collective funds for institutional investors. The Emerging Manager US Equity Funds are designed to provide access to smaller, undiscovered investment boutiques with the primary objective of generating excess returns for corporate and public pension plan investors.
“We are pleased to offer these new funds, making the investment expertise of emerging managers available to a broader array of institutional investors in a cost-effective vehicle,” says Steve Potter (pictured), President of Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust.
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Source: Global Fund Wire
Index IQ files with the SEC
May 23, 2011--Index IQ has filed a post-effective amendment, registration statement with the SEC for the
| Name | CUSIP | Symbol |
| IQ Mexico Small Cap ETF | 45409B 727 | MEXI |
| IQ Asian Tigers ETF | 45409B 719 | ROAR |
| IQ Asian Tigers Consumer ETF | 45409B 610 | ABUY |
| IQ Asian Tigers Small Cap ETF | 45409B 693 | MEOW |
| IQ Asia Pacific ex-Japan Small Cap ETF | 45409B 685 | APXJ |
| IQ Australia Mid Cap ETF | 45409B 677 | MATE |
| IQ Canada Mid Cap ETF | 45409B 669 | CNDM |
| IQ Japan Mid Cap ETF | 45409B 651 | RSUN |
| IQ Emerging Markets Mid Cap ETF | 45409B 644 | EMER |
| IQ Global Precious Metals Small Cap ETF | 45409B 636 | JEWL |
| IQ U.S. Real Estate Small Cap ETF | 45409B 628 | ROOF |
view filing
Source: SEC.gov
Global X files with the SEC
May 23, 2011-Global X has filed a post-effective amendment, registration statement with the SEC for the Global X UK Small-Cap ETF
Global X Germany Small-Cap ETF
Global X Mexico Small-Cap ETF
Global X Hong Kong Small-Cap ETF
Global X Singapore Small-Cap ETF
Global X South Korea Small-Cap ETF
Global X Taiwan Small-Cap ETF
Global X Rare Earths ETF
Global X Strategic Metals ETF
Global X Fertilizers/Potash ETF
Global X SuperDividend ETF
Global X Canada Preferred ETF
view filing
Source: SEC.gov
Direxion To Change Tickers For Levered Natural Gas ETFs
May 23, 2011--Direxion said today that effective Tuesday, the trading symbols for the Direxion Daily Natural Gas Related Bull 2x Shares and Direxion Daily Natural Gas Related Bear 2x Shares will change to GASL and GASX, respectively.
Both seek 200% of the daily performance of the ISE Revere Natural Gas Index.
Direxion also stressed in their announcement that “there is no guarantee the funds will meet their stated investment objectives.”
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Source: Barrons
Invesco PowerShares to Introduce the First Fundamental Pure Style ETFs
May 23, 2011-- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today plans for a suite of nine Fundamental Pure Style ETFs based on the Research Affiliates® Fundamental Index® (RAFI®) methodology.
On June 16, 2011, Invesco PowerShares will list the PowerShares Fundamental Pure Large Growth Portfolio (PXLG) based on the RAFI® Fundamental Large Growth Index, and the PowerShares Fundamental Pure Large Value Portfolio (PXLV) based on the RAFI® Fundamental Large Value Index on the NYSE Arca.
In addition, Invesco PowerShares will be changing the indexes, names and ticker symbols for seven existing ETFs in its Intellidex style/size lineup to the RAFI Fundamental US Style Index Series (RAFI Index Series), to provide investors with a complete suite of style box ETFs based on the RAFI Fundamental Index methodology. The rebranded portfolios management fees will be reduced to 0.29% and their operating expenses (excluding certain expenses) will be capped at 0.39% until at least August 31, 2012.
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Source: Invesco PowerShares Capital Management LLC
Institutions' Growing ETF Use Underscores Funds' Versatility and Value
May 23, 2011--Institutional investors report they are increasingly turning to Exchange Traded Funds (ETFs) to facilitate essential fund management practices, including liquidity management, transition management and the equitization of transactional cash for asset-allocation purposes, a study released by Greenwich Associates today shows.
The trends in institutional investors' use of ETFs are documented in year-over-year changes in the behaviors of pension funds, foundations and endowments as reported by the independent research firm Greenwich Associates. The study, in its second year and sponsored this year by iShares, reports that the number of institutional investors reporting use of ETFs for transition management, cash equitization, rebalancing and liquidity management increased significantly from 2010 to 2011.
Among investors participating in the study, 63% said they use ETFs for transition management purposes. That level is up from the 38% who reported using ETFs for transitions in the 2010 Greenwich Associates study. Institutions reporting ETF usage for cash equitization rose to 51% in 2011 from 31% in 2010. The reported use of ETFs by institutions for rebalancing purposes rose to 44% in 2011 from 24% in 2010. The use of ETFs in overlay liquidity strategies or liquidity sleeves increased to 10% in 2011 from 3% in 2010.
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Source: Marketwire
Fundamentals-Sector Weights: On Average Wrong, but Dynamically Right
May 23, 2011--In Marcel Duchamp’s famous
1912 painting, Nude Descending a
Staircase, No. 2, the French painter
captured the sense of motion by
illustrating a series of images—
all displayed in one frame.1 The
controversial painting was inspired
by Cubism’s breakdown of familiar
images into multiple perspectives.
But it went one better than the
Cubists—who typically used
static images—by adding motion,
reflecting the influence of the
nascent motion picture industry.2
The painting forced the observer to
rethink how he or she viewed art.
Similarly, the Fundamental Index® methodology forces investors to rethink how they view portfolio returns. Investors typically dissect returns, trying to understand how much of performance is attributable to sector bets and how much to stock selection. Like Cubists, they are deconstructing reality and then putting it back together. But what if we—like Duchamp—add motion to the picture?
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Source: Research Affiliates, LLC.
