Americas ETP News
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SEC calls out conflicts of interest in TDFs
November 7, 2019--Many sponsors of the popular 401(k) funds don't disclose their use of underlying in-house investments.
The Securities and Exchange Commission took aim at conflicts of interest in target-date funds on Thursday, calling out a fund structure that holds the majority of 401(k) investors' assets.
The agency's Office of Compliance Inspections and Examinations issued an alert saying some TDFs provided "incomplete and potentially misleading disclosures" around conflicts of interest, such as those that could arise from "the use of affiliated funds and affiliated investment advisers."
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Source: investmentnews.com
First Trust to Expand its ETF Lineup with Target Outcome ETFs(R)
November 6, 2019--Actively managed ETFs seeking a balance of upside performance potential with a downside buffer
First Trust Advisors L.P. ("First Trust") a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it expects to launch four actively managed Target Outcome ETFs(R). The FT Cboe Vest U.S. Equity Buffer ETF-August (Cboe: FAUG) and the FT Cboe Vest U.S. Equity Deep Buffer ETF-August (Cboe: DAUG), are anticipated to launch on November 7, 2019.
The FT Cboe Vest U.S. Equity Buffer ETF-November (Cboe: FNOV) and the FT Cboe Vest U.S. Equity Deep Buffer ETF-November (Cboe: DNOV) (collectively, the "funds"), are anticipated to launch on November 18, 2019.
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Source: First Trust
IMF Staff Country Report-Mexico: Selected Issues
November 5, 2019--Low productivity growth is a critical challenge for Mexico. This note shows that upgrading basic public
infrastructure, and in particular road infrastructure, raises productivity among firms, not only for large
companies but also for Mexico's large number of small and micro firms.
This finding suggests that greater government spending on road infrastructure will support efforts to raise productivity and
growth over the medium-term.
A. Introduction
1. Mexico's infrastructure quality has been on a steady decline. World Economic Forum indicators of perceived infrastructure quality show Mexico broadly in line with-or even outperforming-its emerging market and regional peers. However, there is still a significant gap to the average OECD country, and Cerra et al (2016) show that Mexico compares unfavorably with its
main export competitors.2
view the IMF Staff Country Report-Mexico: Selected Issues
Source: IMF
ETFs That Echo Hedge Funds Are Set to Double Assets, Report Says
November 4, 2019--Liquid alternatives to hit $114 billion next year: Greenwich
Investors favor ETFs for lower costs and their transparency
A relatively new category of exchange-traded fund is poised to hit it big, according to Greenwich Associates.
Institutional investment in so-called liquid alternative ETFs--including products that seek to mirror hedge funds--will more than double to $114 billion during the next 12 months, analysts led by Andrew McCollum wrote in a report Monday.
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Source: Bloomberg.com
The US love affair with mutual funds
November 3, 2019--Individual fund ownership is up by a third since 1999
Mutual funds have played a core role in democratising investment across US society. More than 100m individual US investors own one or more
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Source: FT.com
Exchange Traded Concepts to Close and Liquidate the InsightShares LGBT Employment Equality ETF and the InsightShares Patriotic Employers ETF
November 1, 2019--After careful consideration, Exchange Traded Concepts, LLC, the investment adviser to the InsightShares LGBT Employment Equality ETF and the InsightShares Patriotic Employers ETF ( together, the "Funds"), in consultation with UBS Securities LLC, the Funds' Index Provider, has recommended, and the Board of Trustees of Exchange Listed Funds Trust has approved, the termination and liquidation of the Funds pursuant to the terms of a Plan of Liquidation. Accordingly, the Funds are expected to cease operations and liquidate on or about November 22, 2019 (the "Liquidation Date").
The Funds will be closed to orders for new creation units on November 13, 2019, and the last day of trading the Funds' shares on the NYSE Arca Exchange, Inc. will be November 20, 2019.
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Source: Exchange Traded Concepts, LLC
CBO's Economic Forecasting Record: 2019 Update
October 31, 2019--Each year, CBO prepares economic forecasts that underlie its projections of the federal budget. CBO forecasts hundreds of economic variables, but some-including output growth, the unemployment rate, inflation, interest rates, and wages and salaries-play a particularly significant role in the agency's budget projections.
To evaluate the quality of its economic projections, estimate uncertainty ranges, and isolate the effect of economic errors on budgetary projections, CBO regularly analyzes its historical forecast errors. That analysis serves as a tool for assessing the usefulness of the agency’s projections.
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SOurce: Congressional Budget Office (CBO)
US Treasury considers selling 50-year bonds
October 31, 2019--The US government is considering selling 50-year bonds, joining other countries around the world that have seized on investors' hunger for...
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Source: FT.com
Intercontinental Exchange Launches ICE ETF Hub Enabling and Supporting the Next Phase of Growth in ETFs
October 28, 2019--Technology-enabled ecosystem aims to bring efficiency and standardization to the ETF primary market
New protocols for creating and redeeming ETF orders
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of ICE ETF Hub, a new platform that is designed to enable the next phase of growth in the ETF market. ICE ETF Hub is an open architecture platform designed to bring efficiencies and standardization to the ETF primary trading market, where shares of ETFs are created and redeemed.
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Source: Intercontinental Exchange
IMF-Regional Economic Outlook: Stunted by Uncertainty October 2019
October 22, 2019--Growth in Latin America and the Caribbean (LAC) has slowed from 1.0 percent in 2018 to 0.2 percent in 2019, but a tentative pick-up to 1.8 percent is expected in 2020. External factors remain a headwind to economic prospects in the region, led by sluggish global growth, subdued commodity prices, and volatile capital flows, although easier global financial conditions provide some respite.
Policy uncertainty in some large LAC countries continues to be a drag on growth, while Venezuela’s economic and humanitarian crisis continues to drive large migration flows to other countries in the region. Against this backdrop, the LAC economies will need to rely on domestic sources of growth to accelerate the recovery, which hinges on a pickup in private consumption and investment anchored on a rebound in business and consumer confidence. Risks to the outlook remain skewed to the downside, including further falls in global growth and commodity prices, spikes in risk premiums, heightened domestic policy uncertainty, contagion from the financial turmoil in Argentina, and natural disasters.
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Source: IMF
