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SEC Announces Agenda and Panelists for Roundtable on Money Market Funds and Systemic Risk
May 6, 2011 – The Securities and Exchange Commission today announced the panelists and final agenda for the Money Market Funds and Systemic Risk Roundtable to be held May 10.
The roundtable will address:
The potential for money market funds to pose a systemic risk to broader financial markets – what makes money market funds vulnerable to runs and how should the role of money market funds be viewed through the prism of systemic risk analysis.
Possible options for further regulatory reform and their implications, including floating NAV, bank regulation, and options that reflect a hybrid of these regulatory approaches: a private liquidity bank; mandatory reserve or capital requirements; and liquidity fees.
The agenda and list of panelists can be found on the SEC website.
The roundtable discussion will begin at 2 p.m. and be available by webcast on the SEC website. The webcast also will be archived for later viewing. Public seating to view the webcast will be available in the auditorium at the SEC’s headquarters at 100 F Street NE in Washington, D.C.
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Source: SEC.gov
ETF SNAPSHOT: April 2011 STATE STREET HIGHLIGHTS
April 6, 2011--As of April 30, 2011, 1038 Exchange Traded Funds (ETFs)—with assets totaling $1.12TN—were managed by 35 ETF managers.
ETF industry assets rose $60.5BN for the month—up 5.7%.
STATE STREET HIGHLIGHTS, APRIL 2011
State Street recently launched two additional fixed-income ETFs: the SPDR® Barclays Capital Issuer Scored Corporate Bond ETF [CBND] and the SPDR Nuveen S&P® High Yield Municipal Bond ETF [HYMB].
Designed to provide an alternative to market value-weighted index strategies, the SPDR Barclays Capital Issuer Scored Corporate Bond ETF [CBND] seeks to track the performance of the Barclays Capital Issuer Scored Corporate Index. The Index includes publicly issued US dollar-denominated corporate issues that are rated investment grade and have $250MM or more of par amount outstanding. Individual issuers in the Index are weighted using the following quantitative measures: return on assets, interest coverage, and current ratio. Rebalancing based on these ratios occurs every six months on the last business day of March and September.
Developed by State Street Global Advisors and Nuveen Asset Management, a recognized leader in the municipal bond market, the SPDR Nuveen S&P High Yield Municipal Bond ETF [HYMB] is designed to provide investors with cost effective access to high yield municipal bonds, an asset class offering attractive after-tax yields. The Index is a market value-weighted index with 70% of its market value allocated to high yield bonds that are non-rated or rated below investment grade, 20% to Baa or BBB rated bonds, and 10% to A rated bonds.
ETF Industry Detail
ASSET CLASSES OVERALL
The S&P 500® Index gained 3.0% while the MSCI EAFE® Index returned 6.1%. US Bonds were positive with the Barclays U.S. Treasury Index up 1.2% and the Barclays U.S. Aggregate Index rising 1.3%. Gold rose 6.7% to $1,535 per ounce.
Commodity asset gains, up $12.1BN, were driven mostly by performance.
FLOWS
ETF flows topped $20BN—the eighth consecutive month of positive flows. Large Cap had the most inflows, drawing $6.7BN, after two consecutive months of outflows. International - Developed and International - Emerging followed up last month’s inflows with another strong month, attracting $3.0BN and $3.6BN, respectively.
visit www.spdrs.com for more info
Source: State Street Corporation
IndexIQ Announces April 2011 Performance of Its IQ Hedge Family of Investable Benchmark Hedge Fund Replication Indexes
May 6, 2011-IndexIQ, a leading developer of index-based alternative investment solutions, today announced the performance of its proprietary family of hedge fund replication and alternative beta indexes.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge™ benchmark indexes were originally introduced on March 30, 2007, and have been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.
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Source: Business Wire
Many commodity ETF investors unshaken by rout - Lipper
May 6, 2011--This week's commodities plunge saw surprisingly little out-flow from most of the broad commodity and index-based exchange-traded funds, some of which attracted new investment, data from Lipper showed on Friday.
Some 16 funds for which it collects daily data, with a total net asset value of about $26 billion, saw just $40.7 million in net outflows on Thursday, when commodities went into free-fall as panic selling hit everything from oil to silver.
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Source: Reuters
Investors dump Canadian equity, commodity ETFs in April: BlackRock
May 6, 2011--Exchange-traded funds saw $715 million in net outflows in April, according to data from BlackRock Asset Management Canada Ltd.
The firm reports that Canadian equity ETFs led the outflows, with $797 million worth during the month. Commodity funds also suffered $151 million in outflows
Fixed-income ETFs were the top-selling category in April with $138 million in net new sales. International equity funds had $55 million in net sales, and inverse funds added $35 million.
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Source: Investment Executive
NASDAQ-100 Data Explorers Optimized Index launched to enhance liquidity
May 6, 2011--The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) and Data Explorers announced the introduction of the NASDAQ-100 Data Explorers Optimized Index (NASDAQ:NDXOPT).
The new index is an optimized version of the NASDAQ-100 Index® (NASDAQ:NDX), a globally recognized brand comprised of 100 of the world's largest, most dynamic non-financial companies.
. The NASDAQ-100 Data Explorers Optimized Index offers a tradable benchmark that will enhance liquidity and protect both the long and short investor.The new index is unique because it screens out stocks that are either lacking in liquidity or relatively expensive to borrow in the stock lending market based on analytics from Data Explorers, the leading global provider of stock lending and short interest information.
The optimized version of the NASDAQ-100 Index retains the return and volatility characteristics of the original index, with enhanced liquidity to support both the long and short sides of the trade. The chart below shows the close relationship between the NASDAQ-100 Data Explorers Optimized Index and the NASDAQ-100 Index.
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Source: WFE
CFTC.gov Commitments of Traders Reports Update
May 6, 2011--CFTC.gov Commitments of Traders Reports have been updated for the week of May 3, 2011 are now available
view updates
Source: CFTC.gov
Claymore files with the SEC
May 6, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim Enhanced Adjustable Rate Senior Loan ETF.
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Source: SEC.gov
Van Eck files with the SEC
May 6, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Mortgage REIT ETF.
view filing
Source: SEC.gov
PowerShares files with the SEC
May 6, 2011--PowerShares has filed a post-effective amendment, registration statement with the SEC for the PowerShares S&P 500 High Beta Portfolio
and the PowerShares S&P 500 Low Volatility Portfolio.
view filing
Source: SEC.gov
