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BlackRock to Shut 16 ETFs Focused on Smart Beta, Multifactor
June 19, 2018-BlackRock Inc. will shutter 16 exchange-traded funds in smart-beta and multifactor strategies a few months after introducing a lineup of artificial intelligence-driven products.
The last day of trading for the funds will be Aug. 15, the company said in a statement Friday. The funds held about $91 million in assets at the end of May, according to the company.
The closures come even as BlackRock puts greater emphasis on factor investing, a trading strategy that selects investments based on tested drivers of return, such as volatility, size and value.
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Source: Bloomberg
J.P. Morgan Asset Management Launches US REIT ETF based on MSCI US REIT Index
June 18, 2018--JPMAM launches BBRE, based on MSCI US REIT Index
J.P. Morgan Asset Management announced today the launch of the JPMorgan BetaBuilders MSCI US REIT ETF (BBRE), which seeks to replicate the performance of the MSCI US REIT Index.
The MSCI US REIT Index is a free-float adjusted market-cap weighted index comprised of equity Real Estate Investment Trusts. The index is based on the MSCI USA Investable Market Index (IMI), its parent index, which captures the large, mid and small cap segments of the USA market. The securities included offer core real estate exposure. BBRE will be priced with a total expense ratio (TER) of 11bps.
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Source: J.P. Morgan Asset Management
Horizons ETFs Offers More Ways to Gain Exposure to Marijuana Equities
June 18, 2018--Futures contracts on the Horizons Marijuana Life Sciences Index ETF (HMMJ) begin trading today.
Horizons ETFs Management (Canada) Inc. ("Horizons ETFs" or the "Manager") is pleased to announce new developments with its suite of Marijuana-focused exchange traded funds ("ETFs").
This includes the listing of futures contracts on the Horizons Marijuana Life Sciences Index ETF ("HMMJ") and the filing of a preliminary prospectus to launch leveraged, inverse and inverse leveraged ETFs that provide exposure to Canadian-listed Marijuana companies.
Futures on units of HMMJ will begin trading today on the Montreal Exchange. Futures contracts on HMMJ will be available with quarterly expiration dates, in January, March, June and September – initially extending to a June 2019 expiry.
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Source: Horizons ETFs Management (Canada) Inc.
BlackRock Is Offering a Free Perk That Lets It See Inside Your Portfolio
June 18, 2018--Free risk-assessment tool for financial advisers is part of an effort to sell more funds to individual investors
The world's largest asset manager hopes to sell more investment products to Main Street with one of the oldest strategies in business: the freebie.
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Source: Wall Street Journal
Treasury International Capital Data For April
June 15, 2018--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for April 2018. The next release, which will report on data for May 2018, is scheduled for July 17, 2018.
The sum total in April of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $138.7 billion. Of this, net foreign private inflows were $163.5 billion, and net foreign official outflows were $24.8 billion.
Foreign residents increased their holdings of long-term U.S. securities in April; net purchases were $22.5 billion. Net purchases by private foreign investors were $65.9 billion, while net sales by foreign official institutions were $43.5 billion.
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Source: federalreserve.gov
Fidelity Launches Two Factor ETFs
June 15, 2018--Fidelity Investors Now Have Access to 95 Commission-Free1 ETFs on One of the Nation's Largest ETF Platforms.
Fidelity Investments(R), one of the industry's leading providers of exchange traded funds (ETFs) with more than $380 billion in ETF assets under administration,2 today announced an expansion of its ETF lineup with the introduction of two factor ETFs: Fidelity Low Duration Bond Factor ETF (FLDR) and Fidelity High Yield Factor ETF (FDHY).
The new ETFs are competitively priced with total expense ratios of just 0.15% for FLDR and 0.45% for FDHY. Both ETFs began trading today, the Fidelity Low Duration Bond Factor ETF on the CBOE BZX Exchange, Inc. and Fidelity High Yield Factor ETF on the New York Stock Exchange.
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Source: Fidelity Investments
CFTC.gov Commitments of Traders Reports Update
June 15, 2018--The current reports for the week of June 15, 2018 are now available.
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Source: CFTC.gov
IMF Working Papers-Determinants of U.S. Business Investment
June 15, 2018--Summary:
U.S. business investment has taken a serious toll during the global financial crisis and also in the recovery phase investment did not pick up as expected. What is surprising is that the alleged investment slowdown happened at a time of record corporate profits and retained earnings, highly supportive financial conditions, improved sentiment, rising equity valuations, and strong labor markets-factors established in supporting business investment.
Applying accelerator models and Bayesian Model Averaging, this paper discusses the extent to which U.S. business investment has been unusual. Results suggest that cautious expectations of future aggregate demand growth explain most of the weakness in investment, and that the oil and gas sector accounts for a considerable portion of the investment slump. Consequently, the behavior of U.S. business investment in recent years has not been unusual once these factors are taken into account. Also, there is very little evidence for uncertainty holding back investment, or that firms' financial measures "crowded out"capital expenditure.
view the IMF Working Papers-Determinants of U.S. Business Investment
Source: IMF
Purpose Investments Inc. Announces Fund Name Changes and Confirms ETF Conversions
June 15, 2018-Purpose Investments Inc. ("Purpose") is pleased to announce that Australian Banc Income Fund (TSX:AUI.UN) and Redwood Floating Rate Income Fund (TSX:ISL.UN) (formerly Voya Floating Rate Senior Loan Fund) (each a "Fund" and together, the "Funds") have changed their names and lowered their management fees, effective June 14, 2018, and will change their trading symbols, effective June 18, 2018.
Units of each Fund are currently listed and trade on the Toronto Stock Exchange (the "TSX"), as indicated in the table below.
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Source: Purpose Investments
Crypto Coins Surge as SEC Spares Ether From Securities Rules
June 14, 2018--Statement eases concerns that regulators would crack down
Digital currency rises as much as 12 percent on announcement
Ether investors got a reprieve Thursday when a top U.S. regulator said transactions involving the token aren't subject to federal securities rules, ending months of speculation that had weighed on the second-most valuable digital currency. Ether and other coins surged on the news.
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Source: Bloomberg
