Americas ETP News
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End the clash over EU research rule, SEC urged
February 3, 2019--MFS and CII call for permanent US alignment with Mifid II payment regulations.
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Source: FT.com
Lipper U.S. Weekly FundFlows Insight Report: Funds Experience Net Outflows Thanks to Equity Funds and Money Market Funds
February 2, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) experienced net outflows of $23.7 billion for the fund-flows trading week ended Wednesday, January 30. Equity funds (-$13.6 billion) and money market funds (-$12.8 billion) accounted for all the net negative flows, while taxable bond funds and municipal debt funds had net inflows of $1.6 billion and $1.1 billion, respectively.
Market Overview
The Federal Reserve took its foot off the proverbial brakes at its January meeting (which concluded on Wednesday, January 30) and the equity markets breathed a sigh of relief. Not only did the Fed leave interest rates unchanged (the federal funds rate currently has a target range of 2.25% to 2.50%), but the Fed also backed off the somewhat hawkish stance it took at its December meeting. After this month's meeting, Fed Chairman Jerome Powell stated the case for raising rates had "weakened" and he "would want to see a need for further rate increases" before initiating any.
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Source: Refinitiv
PIMCO Canada Launches the PIMCO Global Short Maturity Fund for Canadian Investors
February 1, 2019--PIMCO will offer a mutual fund and ETF version of the strategy
PIMCO Canada Corp. ("PIMCO Canada") has launched the PIMCO Global Short Maturity Fund (Canada), which is designed to offer higher income potential than traditional cash investments.
The fund will be managed by Jerome Schneider, Managing Director and Head of Short-Term Portfolio Management, Andrew Wittkop, Executive Vice President and Portfolio Manager, and Nathan Chiaverini, Senior Vice President and Portfolio Manager. Mr. Schneider manages the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) in the U.S. using a similar strategy.
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Source: PIMCO Account Management
Waddell & Reed, Inc. Partners with Key Institutional Managers to Launch New Advisory Program
January 31, 2019--Guided Investment Strategies offers range of portfolio models with both ETFs, mutual funds
In a continuing expansion of its advisory product lineup, Waddell & Reed, Inc. has introduced a new third-party strategist program that offers a wide range of portfolios, including both exchange-traded fund (ETF) and mutual fund options.
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Source: Waddell & Reed
SmartBe Launches Debut ETF on NEO
January 31, 2019-SmartBe Wealth, including Founders Rod Heard, CEO, and Art Johnson, CIO, joined NEO's Jos Schmitt, President and CEO, and Erik Sloane, Head of Funds & Trading, to open the market to celebrate today's launch of their debut ETF, the SmartBe Global Value Momentum Trend Index ETF (SBEA), on NEO.
The NEOExchange ("NEO") is proud to welcome SmartBe Wealth Inc.("SmartBe") to the NEO family with the launch of their debut fund, the SmartBe Global Value Momentum Trend Index ETF, which began trading onNEO today under the symbol SBEA.
The fund seeks to replicate the performance of the Alpha Architect ValueMomentum Trend for Canada Index, which invests primarily in Canadian, U.S. and international equity securities and/or Canadian treasury bills based on three factors: value, momentum and trend-following.
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Source: NEO Exchange
Cboe Resubmits the VanEck/SolidX Bitcoin ETF Proposal for SEC Approval
January 31, 2019--The race is back on to launch the first U.S. bitcoin exchange-traded fund (ETF), after Cboe resubmitted its joint proposal with VanEck and SolidX.
Announced Thursday by VanEck digital asset strategy lead Gabor Gurbacs, the Jan. 30 filing would, if approved by the Securities and Exchange Commission (SEC), allow the Cboe BZX Exchange to list shares of a bitcoin ETF trust.
Many proponents of a bitcoin ETF believe that the fund will help bring fresh money into the space, creating a more liquid market.
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Source: coindesk.com
Amplify ETFs Launches the Amplify International Online Retail
January 30, 2019--ETF offers access to worldwide e-commerce growth trend
plifyETFs announces the launch of the Amplify International Online Retail ETF (NYSE Arca: XBUY), an index-based ETF that seeks exposure to international companies expected to benefit from the increased adoption of e-commerce around the world.
A complementary product to the firm's flagship Online Retail ETF, (Nasdaq: IBUY), companies in XBUY's portfolio fall within the same three e-commerce business segments: marketplace, traditional retail and travel.
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Source: Amplify ETFs
Federal Reserve puts rate rises on hold as global economy slows
January 30, 2019--Central bank keeps rates unchanged but signals flexibility on running down balance sheet.
The Federal Reserve executed a sharp about-turn on Wednesday as it put further interest rates on hold, citing tepid inflation and rising risks to global economic growth.
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Source: FT.com
Blue Tractor Group Announces Software Release to Support Shielded AlphaSM ETF Structure
January 30, 2019--Blue Tractor's Shielded AlphaSM ETF structure allows active managers to port their strategy into an ETF wrapper while fully protecting key sources of alphaBlue.
Blue Tractor Group, LLC ("Blue Tractor") today announced the alpha release of software facilitating the operation of Blue Tractor's novel Shielded AlphaSM exchange traded fund ("ETF") structure.
The Shielded AlphaSM ETF structure is highly transparent, disclosing to the market through the daily portfolio composition file ("PCF") basket the names of a fund's portfolio holdings, but importantly not the actual portfolio weightings, thereby fully obscuring the ETF's investment strategy. The PCF basket will have a minimum 90% asset value overlap with the fund's actual portfolio weightings. As such, a Shielded AlphaSM ETF is not a non-transparent ETF. The U.S. Securities and Exchange Commission ("SEC") has yet to approve the Shielded AlphaSM ETF structure.
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Source: Blue Tractor Group, LLC
Federal Reserve issues FOMC statement
January 30, 2019--Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Job gains have been strong, on average, in recent months, and the unemployment rate has remained low.
Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier last year. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Although market-based measures of inflation compensation have moved lower in recent months, survey-based measures of longer-term inflation expectations are little changed.
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Source: federalreserve.gov
