Americas ETP News
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First Trust Advisors Announces the release of thirteen new ETF products into its AlphaDEX family of funds.
April 14, 2011--First Trust Advisors L.P. (First Trust) today announced the anticipated launch of thirteen new exchange-traded funds (ETFs) into its current line of sixteen AlphaDEX funds. The thirteen new ETFs are anticipated to begin trading on April 19 on the NYSE Arca. Nine of the funds are in the international arena and the other four round out the family with small- and mid- cap domestic funds.
AlphaDEX® International
FPA First
Trust Asia Pacific Ex-Japan AlphaDEX® Fund
FEP First
Trust Europe AlphaDEX® Fund
FLN First Trust Latin
America AlphaDEX® Fund
FBZ First Trust Brazil AlphaDEX®
Fund
FCA First Trust China AlphaDEX® Fund
FJP First
Trust Japan AlphaDEX® Fund
FKO First Trust South Korea
AlphaDEX® Fund
FDT First Trust Developed Markets Ex-US
AlphaDEX® Fund
FEM First Trust Emerging Markets AlphaDEX®
Fund
AlphaDEX® Domestic
FNY First Trust
Mid Cap Growth AlphaDEX® Fund
FNK First Trust Mid Cap
Value AlphaDEX® Fund
FYC First Trust Small Cap Growth
AlphaDEX® Fund
FYT First Trust Small Cap Value AlphaDEX®
Fund
“We are excited to add these thirteen new funds to the AlphaDEX®
family of ETFs, nearly doubling the existing line-up. The nine funds
comprising the AlphaDEX® International family of funds
consists of a diverse range of broad, regional and single country funds.
We believe the positive effects of globalization are going to continue
for years to come and investors may benefit from a globally diversified
investment portfolio, particularly in the emerging markets where GDP
growth for 2011 is projected to be 6.4% compared to 2.2% for advanced
economies, according to the International Monetary Fund.” said Dan
Waldron, Senior Vice President, Exchange-Traded Funds Strategist of
First Trust.
Source: First Trust Advisors L.P.
iShares Publishes Educational Materials on ETF Tax Efficiency
April 14, 2011--BlackRock, Inc. (NYSE: BLK) today announced that its iShares® Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, has published a fact sheet on tax efficiency and created a video to drive awareness among U.S. investors about ETFs' tax efficiency as the U.S. tax filing deadline approaches. Today, there are over 1,000 different ETFs available and iShares is emphasizing tax efficiency during the current tax season to foster understanding and to encourage investors to take a careful examination of products with tax consequences in mind.
In April, investors should be keenly aware of the tax ramifications on their investments, some of which may cause a drag on performance and produce an obstacle to realizing their identified financial goals. To compound the issue, many investment strategists believe we are now in a lower return market environment, where the impact of taxes on a portfolio may be further magnified.
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Source: BlackRock
ProShares Launches First ETFs Providing Magnified Exposure to the High Yield and Investment Grade Corporate Bond Markets
April 14, 2011--ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of the first ETFs that provide magnified exposure to the high yield and investment grade corporate bond markets.
ProShares Ultra High Yield (NYSE: UJB) seeks to provide 2x the daily performance of the Markit iBoxx® $ Liquid High Yield Index, before fees and expenses.
ProShares Ultra Investment Grade Corporate (NYSE: IGU) seeks to provide 2x the daily performance of the Markit iBoxx® $ Liquid Investment Grade Index, before fees and expenses. Both ETFs list on NYSE Arca today.
On the heels of launching the first inverse ETFs on the high yield and investment grade corporate bond markets, we are pleased to offer the first leveraged ETFs on these segments of the fixed income landscape," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "With today's launch, knowledgeable investors now have an even larger suite of geared ETFs to help manage their exposures to high yield and investment grade corporate bonds."
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Source: ProShares
Morningstar Reports U.S. Mutual Fund and ETF Asset Flows Through March 2011
April 13, 2011—Morningstar, Inc. a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund asset flows through March 2011. The pace of inflows into long-term mutual funds slowed slightly to $27.0 billion in March from approximately $27.9 billion in February, due largely to a reversal in U.S. stock flows. The asset class saw outflows of $934 million in March after taking in roughly $26.1 billion combined in January and February. Inflows for U.S. ETFs rose to $7.4 billion in March after reaching $6.6 billion in February despite outflows of $3.3 billion from U.S. stock ETFs, which typically drive industry inflows.
Diversified emerging-markets flows, which have attracted a significant amount of attention since the financial crisis began in late 2008, highlight a striking difference in the way American and European investors express their appetite for emerging-markets exposure. European investors have a much greater proportion of their money in emerging markets than American investors and more funds to choose from to gain emerging-markets exposure. But Americans have been adding aggressively to emerging-markets funds in recent years, and are increasingly choosing to invest in them through passively managed products. Six years ago, actively managed open-end mutual funds and ETFs comprised 79% of diversified emerging-markets assets, but today make up 53%.
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Source: Morningstar
ISE Announces Unveiling of U.S. Options Industry Room as Part of Ronald McDonald House New York Adopt a Room Program
April 13, 2011--The International Securities Exchange (ISE) today announced the unveiling of the U.S. Options Industry Room at Ronald McDonald House® New York.
ISE took part in Ronald McDonald House New York’s “Adopt-a-Room” program by donating the profit it generated from organizing the 2010 Options Industry Conference. A room dedication ceremony was held on April 12, 2011, in honor of the donation that was made by ISE on behalf of the entire U.S. options industry.
“I am very excited that ISE was able to make a donation to such an outstanding organization on behalf of the entire industry,” said Gary Katz, President and Chief Executive Officer of ISE. “Ronald McDonald House New York provides temporary housing and extensive support services for families who come to New York to seek life-saving treatments for a child with cancer. Our partnership with the House continues to be incredibly rewarding, and I am honored to share this experience with our industry peers.”
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Source: International Securities Exchange (ISE)
Global X Funds Launches Waste Management ETF (WSTE)
April 13, 2011 – Global X Funds, the New York based provider of exchange traded funds (ETFs), today launched the Global X Waste Management ETF (Ticker: WSTE). WSTE is approximately evenly divided among the disposal of hazardous waste, non-hazardous waste and recycling sectors.
The world’s population growth and burgeoning middle class is creating a steady rise in demand for energy and consumer products, with an ever-increasing need for sanitation and waste-disposal services. The proper disposal of hazardous and non-hazardous waste is a critical and growing aspect of many industries, especially as corporations are held more accountable for the waste they produce. Investors in WSTE may stand to benefit from mandatory safety standards and environmental regulations imposed on these companies, which enforce the removal of pesticides, petrochemicals, nuclear, and industrial waste. In addition, the process of recycling is critical for managing available resources and controlling the costs of basic materials. If the world’s appetite for raw materials continues to grow, recycling may stand to become increasingly cost effective and a more viable substitute for primary production.
“The Waste Management ETF (WSTE) provides relatively easy access to a global industry that continues to grow rapidly as the world’s population and individual incomes expand along with the need to manage waste and recycle resources,” said Global X Funds CEO Bruno del Ama.
The Global X Waste Management ETF tracks the Solactive Global Waste Management Index, which tracks the price movements in shares of companies which are active in the hazardous waste, non-hazardous waste and recycling industries. As of April 7, 2011, the three largest components of the index were Stericycle Inc., Waste Management Inc., and Veolia Environnement SA.
Source: Global X
SPDR files with the SEC
April 13, 2011--SPDRs files a post-effective amendment, registration statement with the SEC for the SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB).
view filing
Source: SEC.gov
Goldman criticised in US Senate report
April 13, 2011--US Senate investigators probing the financial crisis will refer evidence about Wall Street institutions including Goldman Sachs and Deutsche Bank to the justice department for possible criminal investigations, officials said on Wednesday.
Carl Levin, Democratic chairman of the powerful Senate permanent subcommittee on investigations, said a two-year probe found that banks mis-sold mortgage-backed securities and misled investors and lawmakers.
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Source: FT.com
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
April 13, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Wednesday, April 13, 2011:
Cirrus Energy Corporation (TSXVN:CYR) will be removed from the index.
The shares of the company have been acquired by Oranje-Nassau Energie B.V. through an Offer to Purchase for $CDN1.15 cash per share.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poors
Opening Statement, Thirteenth Series of Proposed Rulemakings Under the Dodd-Frank Act
Commissioner Scott O’Malia
April 12, 2011
Thank you Mr. Chairman, and let me thank the team which has spent many long hours developing the margin rule proposal before us today.
Today we are voting on similar, but not identical margin rules as the prudential regulators.1 Despite endless attempts to conform the rules, the treatment of end-users couldn’t be further apart. The rules proposed by the prudential regulators will require that end-users pay initial and variation margin to banks. Alternatively, the Commission’s rule requires transactions between a swap dealer and an end-user to simply include a credit support agreement and nothing more. Unfortunately, this isn’t the only inconsistency between the rulemakings.
I am also concerned that we are moving forward on a margin rule without defining the new capital requirements. Throughout this entire rulemaking process, market participants have complained they can’t see the entire picture. Today’s rulemaking is no different. End-users will need to wait a couple more weeks before they see the entirety of the new capital and margin regime. I am pleased, however, that the comment period for each rulemaking will run simultaneously.
Mr. Chairman, I believe commercial end-users and many of the financial end-users will be dissatisfied with the lack of harmonization among the different regulatory bodies, and I will vote against today’s margin proposal.
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Source: CFTC.gov
