Americas ETP News
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Backlash From ETF Traders Grows Over Push for Bond Reporting Lag
June 14, 2019--They oppose a FINRA pilot program that would extend bond dealers' reporting time for large corporate bond transactions.
An audacious plan to give bond dealers more time to reveal large corporate-debt transactions has sparked a blowback from traders of exchange-traded funds.
Jane Street Group, one of the largest ETF market-makers, hedge fund Citadel LLC and an association of proprietary trading firms have all raised red flags about the impact that reduced transparency could have on the $2.2 trillion-a-year market for fixed-income ETFs. Vanguard Group also warned that the plan could increase costs for investors, as did Dimensional Fund Advisors.
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Source: thinkadvisor.com
Global X ETFs to Liquidate 2 ETFs
June 14, 2019--Global X ETFs, the New York-based provider of exchange-traded funds, today announced the scheduled liquidation of two ETFs, the Global X| JPMorgan Efficiente Index ETF and the Global X| JPMorgan U.S. Sector Rotator Index ETF (NYSE Arca: SCTO) based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients.
Shareholders may sell their holdings in the Funds prior to the end of the trading day on Friday, July 5, 2019, and customary brokerage charges may apply to these transactions. The Funds will cease trading at the end of the trading day on Friday, July 5, 2019. The Funds will liquidate on or around Friday, July 12, 2019.
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Source: Global X
Global X ETFs to Liquidate 2 ETFs
June 14, 2019--Global X ETFs, the New York-based provider of exchange-traded funds, today announced the scheduled liquidation of two ETFs, the Global X |JPMorgan Efficiente Index ETF (NYSE Arca: EFFE) and the Global X |JPMorgan U.S. Sector Rotator Index ETF (NYSE Arca: SCTO) based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients.
Shareholders may sell their holdings in the Funds prior to the end of the trading day on Friday, July 5, 2019, and customary brokerage charges may apply to these transactions. The Funds will cease trading at the end of the trading day on Friday, July 5, 2019. The Funds will liquidate on or around Friday, July 12, 2019.
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Source: Global X
KraneShares launches 2 ETFs focused on dividends
June 13, 2019--KraneShares has brought to NYSE Arca two exchange-traded funds investing in US stocks with a history of paying strong, rising dividends.
The KFA Small Cap Quality Dividend Index ETF invests mostly in stocks in the Russell 2000 Dividend Select Equal Weight Index, while the KFA Large Cap Quality Dividend Index ETF picks most of its investments from the Russell 1000 Dividend Select Equal Weight Index.
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Source: SmartBrief
Fidelity(R) Launches New Model Portfolios with Business Cycle and Factor ETF Strategies
June 13, 2019--Fidelity's Growing Lineup, Available to Financial Advisors, Includes a New Suite of Equity Models
Fidelity Investments(R), one of the largest and most diversified global financial services firms with $7.6 trillion in client assets1, today launched new business cycle model portfolios and factor ETF model portfolios. These models broaden Fidelity Model Portfolios' existing lineup with an expanded universe of investment opportunities.
Fidelity provides a range of model options-including ETFs and mutual funds, active and passive management, strategic and dynamic management approaches, Fidelity funds and offerings from leading fund providers-all focused on helping advisors meet their clients' needs.
The business cycle model portfolios incorporate a dynamic investment approach based on shifts in the business cycle, designed to enhance risk-adjusted returns. The factor ETF model portfolios are designed to help achieve specific outcomes in the U.S. equity allocation of a portfolio. They expand upon Fidelity's existing offering, which includes models designed for core diversification as well as distribution income.
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Source: Fidelity Investments
New 'megatrend' ETFs let you invest in everything that's cool
June 13, 2019--BlackRock has an ETF for virtually any niche you might want to invest in. Now BlackRock has launched a new suite of products so investors can tackle so-called "megatrends"
The new exchange-traded funds promise to be the purest way to access emerging areas, including robotics and AI, genomics, energy innovation and the developing world's emerging middle class.
To profit from investing in a trend, you have to go beyond investing in just one stock, according to BlackRock (BLK).
You shouldn't buy only Tesla (TSLA) if you want to get exposure to electric and self-driving vehicles, said Armando Senra, head of US, Canada and Latin America iShares.
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Source: CNN
U.S. Weekly FundFlows Insight Report: Fund Flows Turn Positive for the Week
June 13, 2019--For the first week in three, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $25.3 billion for Lipper's fund-flows week ended June 12, 2019. Fund investors were net purchasers of money market funds (+$12.9 billion), taxable fixed income funds (+$7.2 billion), equity funds (+$4.4 billion), and municipal bond funds (+$778 million).
Market Wrap-Up
For the fund-flows week ended June 12, 2019, the broad-based U.S. indices posted their second consecutive week of plus-side returns, as U.S./Mexico trade tensions declined and a weaker-than-expected nonfarm payrolls report had some pundits believing the Federal Reserve's next move might be on the accommodative side.
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Source: Refinitiv
BlueStar Israel Equity Review & Outlook-Israeli Stocks Resume Their Lead Against Major Benchmarks; Israeli Tech Proves Resilient In May, Delivering Impressive Relative & Absolute Performance In 2019 YTD
June 12, 2019--Israeli stocks, as defined by the BlueStar Israel Global Index(R) (BIGI(R)), posted a loss of 4.23% in May, extending its relative YTD 2019 outperformance versus the S&P 500, MSCI EAFE, and MSCI EM by 0.54%, 3.22%, and 7.18% respectively.
Israeli technology stocks, as defined by The BlueStar Israel Global Technology IndexTM (BIGITech(R)), lost just 1.09%, demonstrating impressive resiliency in May compared to the Dow Jones US Tech and MSCI EM tech indexes, down 9.51% and 10.7%, respectively.
BIGITech(R) continues its 2019 relative and absolute dominance against leading tech benchmarks, pulling ahead of Dow Jones US Tech by 4.73%, S&P Global 1200 Info Tech by 5.31%, and MSCI EM Tech by 16.08% for the year to-date.
BIGI(R) gave back 1.12% in relative performance against the local Israeli TA-125 Index in May, but still maintains a slight outperformance YTD, as the TA-125 has missed out on some of Israe''s top foreign-listed technology companies.
The Israeli Shekel continues to provide stability against the US Dollar, finishing May at par to 12 months ago.
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Source: Blue Star Indexes
CFTC.gov Swaps Report Update
June 12, 2019-CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
RBC iShares broadens ETF offering with RBC Canadian Discount Bond ETF
June 12, 2019-- RBC iShares today expanded its exchange traded fund lineup with the launch of the RBC Canadian Discount Bond ETF (the "ETF"). The ETF, managed by RBC Global Asset Management Inc. ("RBC GAM Inc."), provides a low cost, one-stop fixed income solution designed to provide tax-efficient returns for investors. The ETF will begin trading on the NEO Exchange today.
The RBC Canadian Discount Bond ETF aims to deliver an attractive after-tax yield to maturity. The ETF will purchase short-term, high-quality Canadian government and corporate bonds, with an emphasis on bonds priced below par. Drawing from the award-winning1 investment expertise of RBC Global Asset Management's Fixed Income team, this ETF is a complement to an investor's core bond portfolio, designed to shorten duration, improve capital preservation as well as tax efficiency of investors' fixed income portfolios.
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Source: RBC Global Asset Management
