Americas ETP News
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GCI Enters Active ETF Market With Equity Fund, GCIG
December 1, 2021--On Wednesday, GCI Investors, an independent asset manager, announced the launch of its first U.S.-listed ETF, the Genuine Investors ETF (NYSE: GCIG). This active fund provides exposure to a long-term strategy of high-conviction investments powered by in-house valuation and quality analysis.
GCI's move into the ETF space allows access to the firm's previously private strategy of "Genuine Investing." This investment approach entails constructing a portfolio of high-quality businesses in certain industries that are structurally more attractive than others. "Genuine Investing" is differentiated and unburdened by common industry constraints such as short-duration time horizons, index-tracking, and the institutional imperative to sell newer products constantly.
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Source: nasdaq.com
Crypto.com Acquires Two IG Group Exchanges in $216M Deal
December 1, 2021--Crypto.com has announced yet another big play. The exchange has acquired Nadex and the Small Exchange to give customers access to derivatives and futures products. The acquisitions are only the latest in a series of big steps from Crypto.com.
Crypto.com Announces Exchange Acquisitions
After signing a string of major sponsorship deals throughout the year, Crypto.com is now also focusing on acquisitions.
The fast-rising crypto exchange announced it had bought the IG Group's North American Derivatives Exchange and Small Exchange in a $216 million deal Wednesday.
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Source: cryptobriefing.com
ProShares Bitcoin Futures ETF Wins 'First Mover Advantage' as VanEck Launch Falls Flat
November 23, 2021--The ProShares ETF has $1,4 billion in assets, compared with $8.7 million for the VanEck fund.
November 22, 2021--VanEck investments' newly listed bitcoin futures exchange-traded fund (ETF) saw limited uptake when it launched last week. Some analysts say that's unsurprising because a rival bitcoin futures ETF launched by ProShares several weeks earlier appears to have enjoyed a first-mover advantage.
As of Friday, the ProShares Bitcoin Strategy ETF (stock ticker BITO) had net assets of $1.4 billion. In October, it was the first bitcoin futures ETF to go live in the U.S. after it won regulatory approval from the U.S. Securities and Exchange Commission.
Those assets dwarf the $57 million for Valkyrie's bitcoin futures ETF (ticker BTF), launched a few days later, and the $8.7 million reported for the VanEck ETF, which didn't come to market until last week.
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Source: coindesk.com
Direxion Launches Nanotechnology ETF (TYNE)
November 23, 2021--Offers Exposure to Continuously Expanding Nanotechnology Sector
Direxion announced today the launch of the The Direxion Nanotechnology ETF (Ticker: TYNE) TYNE invests in companies believed to be at the forefront of nanotechnology, spanning the traditional sectors of consumer discretionary, health care, industrials, information technology and materials.
"Investors continue to seek exposure to disruptive industries, but one important area they may not yet fully appreciate is nanotechnology," said David Mazza, Managing Director, Head of Product at Direxion. "Nanotech is used today in awide variety of businesses, ranging from agriculture, to biotech, to defense, to energy and semiconductors. With this innovation, materials can be made stronger, lighter, more durable and more reactive, helping to reduce costs and increase producivity."
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Source: direxion.com
Invesco Joins Bitwise in Blaming the SEC for Decision to Withdraw ETFs
November 22, 2021--The American exchange-traded fund (ETF) issuer Invesco has for the first time revealed the reason for its surprise decision to pull out of the race to bring a bitcoin (BTC) futures-backed ETF to the market-and just like its competitor Bitwise Asset Management, the firm has blamed the rules from the US Securities and Exchange Commission (SEC).
According to Invesco, the main problem is the SEC's requirement that an ETF only holds bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME). Futures contracts must be rolled over each month as they expire, which adds complexity and costs to the management of the ETF.
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Source: cryptonews.com
First Trust Expands its Actively Managed Fixed Income Lineup with the First Trust Limited Duration Investment Grade Corporate ETF
November 18, 2021--First Trust Advisors L.P. ("First Trust") a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched the First Trust Limited Duration Investment Grade Corporate ETF (NYSE Arca: FSIG) ("the fund"). FSIG seeks to deliver current income by investing at least 80% of its net assets (plus any borrowings for investment purposes) in investment grade corporate debt securities.*
In addition, the fund has a limited duration portfolio mandate and seeks to construct a portfolio that has a weighted average duration of +/- one year of the Bloomberg U.S. Corporate Bond 1-5 Year Index, which may provide less interest rate volatility relative to a longer duration corporate bond portfolio. A security's duration is a measure of its price sensitivity to interest rate movements. In other words, it tells the investor how much the security's price is likely to change for a given change in interest rates.
Finding opportunities to generate attractive income in a low interest rate environment can be challenging. Investment grade corporate bonds with short maturities may provide attractive income and diversification benefits to fixed income portfolios.
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Source: First Trust
American Century Investments And Nomura Launch Active ETF For High Yield Bonds
November 18, 2021--Global investment managers American Century Investments and Nomura Asset Management announced the launch of a new exchange traded fund (ETF): American Century Select High Yield (AHYB). The new transparent active ETF will be listed on the New York Stock Exchange (NYSE Arca, Inc.).
The new ETF will be subadvised by Nomura Corporate Research and Asset Management (NCRAM) and will have the same investment philosophy as the seven-year old American Century High-Income mutual fund, while focusing on BB and B rated high yield bonds. AHYB seeks to provide high current income and offers an opportunity to access a high yield strategy with strong potential risk-adjusted returns. The fund has an expense ratio of 0.45 percent and will disclose its holdings daily.
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Source: American Century Investments
'Work from home' ETFs diverge as investors bet on reopening
November 17, 2021--Cloud computing and remote communications stocks stay strong while consumer names struggle
The performances of two rival funds launched to track the shift toward remote working have diverged wildly this year, as investors bet that...
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Source: ft.com
Invesco Starts Sustainability-Focused Version of S&P 500 ETF
November 17, 2021--Invesco Ltd. has launched a sustainability version of its second biggest exchange-traded fund as asset managers experience a surge in demand for environmental, social and governance-focused investments.
The Invesco ESG S&P 500 Equal Weight ETF will invest in companies considered leaders in ESG metrics, Invesco said in a statement Wednesday.
The move adds an ESG focus to the asset manager's longstanding ETF that tracks the S&P 500, which has $31 billion of assets, according to John Hoffman, Americas head of ETFs and indexed strategies at Invesco.
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Source: bloomberg.com
Nottingham Announces Three Mutual Fund to ETF Conversions
November 16, 2021--The Nottingham Company, a consultant for mutual funds and ETFs and an ETF administrator, has launched three actively managed ETFs that are conversions from open-end mutual fund strategies. The three funds, the AI Quality Growth ETF (AQGX), the RH Tactical Outlook ETF (RHTX), and the RH Tactical Rotation ETF (RHRX), were listed on the NYSE and joined the Adaptive ETF funds umbrella.
Two more conversions are set to be announced this week.
Nottingham brings mutual fund conversion experience to the table as the first fund administrator to have converted a strategy in May. Mutual fund conversion is a complex process that Nottingham partnered extensively with the SEC on while converting its first fund, and it continues to work with the regulatory agency for each one to ensure that they are done accurately and are in compliance.
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Source: nasdaq.com
