Americas ETP News
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SPACs Forced to Fund Deals with More Expensive Financing: Report
July 28, 2021--Blank-check companies are turning to expensive sources of financing to push their deals over the line in a fresh sign of stress in what had been one of the hottest corners of Wall Street, The Financial Times reports.
Several companies that recently announced plans to go public by merging with a SPAC have raised cash to fund the deals by issuing convertible bonds, a form of debt that can be swapped into stock.
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Source: news.spacconference.com
US benchmark reform panel endorses forward-looking rate to replace Libor
July 29, 2021--The group overseeing the transition from Libor in the United States has approved positive interest rates and has taken an important step in the competition to replace the scandal-damaged benchmarks that underpin hundreds of trillions of dollars in financial contracts.
The Alternative Reference Interest Rate Commission (ARRC), established in 2014 by the Federal Reserve as an industry association to lead the transition to Libor, supports a new term rate created by CME Group based on the US-priority Libor alternative.
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Source: californianewstimes.com
Sparkline Launches Intangible Value ETF, ITAN
July 28, 2021--Sparkline Capital, an investment management firm that uses machine learning to help investors achieve alpha in large data sets, recently launched the Sparkline Intangible Value ETF, an actively managed fund that evaluates companies based on their "intangible value."
Intangible value is the value of a company derived from its intangible assets, says Sparkline founder and CIO Kai Wu.
"Intangible assets have been steadily rising in importance as the economy transitions from industrial to asset-light," he told ETF Trends. "Todays dominant firms no longer rely on tangible assets, but depend instead on intangible moats."
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Source: iqstockmarket.com
Retail investors to drive $1.5tn push towards bespoke index funds
July 28, 2021--Vanguard, JPMorgan, BlackRock and Morgan Stanley have all done deals to bolster their direct indexing offerings.
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Source: FT.com
BNY Mellon's first active ETF to invest in international equities
July 28, 2021--The Concentrated International ETF will be fully transparent disclosing its portfolio holdings each day
BNY Mellon Investment Management's first active exchange traded fund will be an international equity product, the group disclosed on Thursday.
The asset manager believes it can capitalise on strong demand and product gaps in global equities with one of its specialist managers, executives said.
The company plans to launch the Concentrated International ETF, which will be fully transparent and will invest in 25 to 30 companies in developed markets outside of the United States.
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Source: FT.com
Impact Shares Launches the Affordable Housing MBS ETF (NYSE: OWNS)
July 27, 2021--WNS Aims to Reduce the Racial Wealth Gap by Supporting Affordable Housing Options for Minority and Low-Income Families
Impact Shares announces the launch of the Impact Shares Affordable Housing MBS ETF (NYSE: OWNS), an exchange-traded fund (ETF) that invests in agency mortgage-backed securities (MBS) backed by pools of mortgage loans made to minority families, low- and moderate-income (LMI) families, and/or families that live in persistent poverty areas.
OWNS seeks to invest in the dignity of homeownership for these traditionally underserved communities.
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Source: Impact Shares
New ETF 'VSPY' Aims to Hedge Bearish Bond Markets
July 26, 2021--Last week ETF newcomer VectorShares launched their first fund, the VectorShares Min Vol ETF (VSPY), an actively managed fixed income ETF that seeks to provide market-like returns with greatly reduced volatility.
VSPY holds 90% of its portfolio in ultra-short duration fixed income securities and the remaining 10% in S&P 500 call and put options contracts, a position which is never net short the market.
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Source: etftrends.com
Fidelity International threatens tough stance on climate and gender
June 26, 2021--Global Asset Manager Fidelity International says it will punish directors of more than 1,000 companies worldwide next year if it fails to address the issues of climate change and the lack of gender diversity in the boardroom. increase.
While large investors have traditionally been reluctant to vote against the re-election of directors at the General Assembly, Fidelity has made inadequate progress on board diversity since 2022. If deemed to be, or global warming.
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Source: californianewstimes.com
Federal Debt and the Statutory Limit, July 2021
July 21, 2021--CBO projects that if the debt limit is not raised, the Treasury would probably run out of cash and be unable to make its usual payments starting sometime in the first quarter of the next fiscal year, most likely in October or November.
Summary
The debt limit-commonly called the debt ceiling-is the maximum amount of debt that the Department of the Treasury can issue to the public or to other federal agencies. The amount is set by law and has been increased over the years to finance the government's operations. Currently, there is no statutory limit on the issuance of new federal debt because the Bipartisan Budget Act of 2019 (Public Law 116-37), enacted in August 2019, suspended the limit through July 31, 2021. On August 1, 2021, the debt limit will be reset to the previous ceiling of $22.0 trillion, plus the cumulative borrowing that occurred during the period of suspension.
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Source: SEC.gov
New Female-Led ETFs Are Bringing 'Do More Good' Mantra to U.S.
July 21, 2021--The funds are backing the biggest carbon evaders and replicate the managers' U.K. clean energy offerings.
The latest clean energy ETFs to hit the market are looking to promote companies doing the most to avoid carbon emissions.
iClima, a female-led fintech, is launching the exchange-traded funds Wednesday, fresh off the debut of similar funds in the U.K. where the firm is based.
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Source: bloomberg.com
