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CFTC.gov Swaps Report Update
May 29, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Lending start-up SoFi closes $500 million funding round, led by Qatar
May 29, 2019--Social Finance, better known as SoFi, closed a $500 million funding round Wednesday led by Qatar Investment Authority valuing the personal finance company at $4.3 billion.
The start-up plans to use the cash to invest in more growth and strengthen its now $2.3 billion total balance sheet, SoFi said in a press release.
The round also included former investors and CEO Anthony Noto, Twitter’s former chief operating officer and a former managing director at Goldman Sachs.
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Source: CNBC
Canadian Institutions Turn to ETFs in Challenging Markets
May 29, 2019--Executive Summary
Canadian institutions made aggressive use of exchange-traded funds in their portfolios last year as they
navigated a sharp market downturn, a surge in volatility and a series of unpredictable geopolitical events. As
they contend with these risks and implement the adjustments needed to reposition their portfolios, growing
numbers of Canadian institutions are using ETFs to strategically replace other investment vehicles.
Building upon an already robust use of ETFs, institutions are adding the funds to their portfolios for three main
reasons:
Flexibility, Ease of Use and Cost-Effectiveness: ETFs have proven to be highly flexible vehicles that institutions find easy to use and cost-effective when taking on both strategic and tactical investment exposures across asset classes and portfolio functions.
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Source: Greenwich Associates
State Street lists 31 UCITS ETFs in Mexico
May 28, 2019--State Street Global Advisors (SSGA) has cross-listed 31 SPDR UCITS ETF on the Bolsa Mexicana Valores.
The firm said the reason for selecting the UCITS vehicle is because it can offer Latin American investors tax advantages and diversification compared to a US-domiciled portfolio.
The move brings the total number of SPDR ETFs listed in Mexico to 106, split between US and UCITS products.
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Source: etfstream.com
Investors should be wary as private equity firms switch structures
May 26, 2019--It is only a matter of time before one of the big investment groups runs into trouble
Since Blackstone's 2007 initial public offering. US alternative fund managers have scrambled to join the stock market, with the idea of giving their founders a way out-a notoriously challenging process in private partnerships.
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Source: FT.com
Source: FT.com
Lipper U.S. Weekly FundFlows Insight Report: Funds Take in Net New Money for the Fifth Straight Week
May 24, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) had net positive flows of $32.3 billion for the fund-flows trading week ended Wednesday, May 22.
This represents the fifth consecutive week funds took in net new money. Money market funds (+$28.4 billion) took in the most net new money for the fourth straight week, while equity funds (+$2.7 billion) and municipal bond funds (+$1.5 billion) also contributed to the total net inflows.
Taxable bond funds experienced net outflows of $236 million last week.
Market Overview
The equity markets were mixed last week as the Dow Jones Industrial Average and S&P 500 Index recorded gains of 0.50% and 0.19%, respectively, while the NASDAQ Composite Index retreated 0.91%.
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Source: Refinitiv
Exchange Traded Concepts to Close and Liquidate the ETF Industry Exposure & Financial Services ETF
May 24, 2019--After careful consideration, Exchange Traded Concepts, LLC, the Fund's investment adviser, in consultation with Toroso Investments, LLC, the Fund's sponsor, has recommended, and the Board of Trustees of Exchange Traded Concepts Trust has approved, the termination and liquidation of the Fund pursuant to the terms of a Plan of Liquidation.
Accordingly, the Fund is expected to cease operations and liquidate on or about June 20, 2019 (the "Liquidation Date").
The Fund will be closed to orders for new creation units on June 12, 2019, and the last day of trading the Fund's shares on the NYSE Arca Exchange, Inc. will be June 18, 2019.
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Source: Exchange Traded Concepts, LLC
IMF Brazil: Staff Concluding Statement of the 2019 Article IV Mission
May 24, 2019- These reforms are essential to boost potential growth. The monetary stance is appropriately supportive at present.
A sluggish recovery is underway, constrained by subdued aggregate demand and lackluster productivity. A robust social security reform and additional fiscal measures are necessary to put public debt on a sustainable trajectory, thereby boosting investor confidence. The mission welcomes the government's ambitious reform agenda which includes pension reform, privatization, trade openness, tax reform, and reducing state intervention in credit markets.
1. The recovery remains sluggish. After contracting by almost 7 percent during the 2015-16 recession, real GDP grew by only 1.1 percent per year in 2017 and 2018. Short-term indicators show that weakness persisted in Q1. Investment remains subdued, held back by large spare capacity and lingering uncertainty about the prospects for fiscal and structural reforms.
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Source: IMF
WisdomTree launches ETF targeting modern tech platforms
May 23, 2019--WisdomTree has launched a new fund in the US providing exposure to companies operating platform business models.
The WisdomTree Modern Tech Platforms Fund (PLAT US) has been listed on NYSE Arca and comes with an expense ratio of 0.45%.
WisdomTree defines a modern technology platform as a company with a non-linear, multi-sided business model focused on creating value by facilitating interactions between two or more interdependent groups through technology.
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Source: etfstrategy.com
AGF Launches Two New U.S.-Listed AGFiQ ETFs to Expand Presence in U.S. Marketplace
May 23, 2019--Also announces FFCM LLC has been renamed AGF Investments LLC
AGF Management Limited (AGF) announced today, through AGF Investments LLC (formerly FFCM LLC) the launch of AGFiQ Global Infrastructure ETF (GLIF) and AGFiQ Dynamic Hedged U.S. Equity ETF (USHG), which begin trading on the NYSE Arca, Inc. effective May 23, 2019.
These two new U.S.-listed ETFs provide AGF with the opportunity to leverage their capabilities and bring to the U.S. marketplace additional innovative strategies through their quantitative and factor-based investment platform -AGFiQ.
"The launch of these new products reinforces AGF's commitment to bringing new alternative solutions to investors in the U.S.," said Bill Carey, Chief Executive Officer, AGF Investments LLC. "At the same time, it supports the further growth of AGF's footprint in the U.S., leveraging the organizational strength, research acumen, investment capabilities and marketing and product development."
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Source: AGF Management Ltd.
