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With ETFs About to Be Easier to Build, Aspiring Money Managers Go Solo
May 21, 2018--New rules to make setting up funds cheaper and easier to do
Lawsuits, easing regulation are encouraging going it alone
It's never been easier to start an exchange-traded fund--or so it seems.
Just ask the two wannabe asset managers who are planning new funds by themselves, away from the third-party ETF expert they previously relied upon to usher them through the arcane process.
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Source: Bloomberg
CFTC Staff Issues Advisory for Virtual Currency Products
May 21, 2018--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) today issued a joint staff advisory that gives exchanges and clearinghouses registered with the CFTC guidance for listing virtual currency derivative products.
"The CFTC staff is committed to providing regulatory clarity as much as possible," said DMO Director Amir Zaidi. "As the virtual currency market continues to evolve, CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations."
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Source: SEC.gov
Vanguard Announces Plans To Launch Total World Bond ETF
May 21, 2018--Vanguard today filed a preliminary registration statement with the Securities and Exchange Commission for Vanguard Total World Bond ETF.
The ETF will be the industry's first U.S.-domiciled index product offering investors access to the entire global investment-grade bond universe in a single portfolio. It is expected to launch in the third quarter of this year.
The fund will be structured as an ETF of ETFs, investing directly in two existing low-cost ETFs: Vanguard Total Bond Market ETF (BND) and Vanguard Total International Bond ETF (BNDX).
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Source: Vanguard
CFTC.gov Commitments of Traders Reports Update
May 18, 2018--The current reports for the week of May 18, 2018 are now available.
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Source: CFTC.gov
U.S. Fund-Flows Weekly Report: Funds Experience Second Largest Weekly Net Inflows of the Year to Date
May 18, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) had net-positive flows of $26.5 billion for the fund-flows week ended Wednesday, May 16. The week's net inflows were the second largest for 2018, trailing only the $37.8-billion increase for the fund-flows week ended January 24.
All four of the asset classes took in net new money for the week, paced by money market funds (+$13.6 billion) and equity funds (+$10.1 billion). Taxable bond funds and municipal bond funds contributed $2.6 billion and $207 million, respectively, to the week's total net inflows.
Market Overview
The Dow Jones Industrial Average and the S&P 500 Index both posted positive returns for the fund-flows trading week; the indices closed up 0.92% and 0.91%, respectively.
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Source: Thomson Reuters
Investors Bet on Fresh Stock Volatility Like It's August 2016
May 18, 2018-Inflows into long-VIX instruments largest in nearly 2 years
Leveraged investors positioned for lower equity price swings
Stocks are calmer these days, but there's one corner of the market where investor nerves are on full display.
So far this month, more than $633 million has poured into U.S.-listed exchange-traded products that benefit from a rise in volatility, putting May on track to be the busiest streak for such inflows since August 2016, according to data compiled by Bloomberg Intelligence.
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Source: Bloomberg
British Columbia Securities Commission (BCSC) Investor Alert: Cryptocurrencies
May 17, 2018--The British Columbia Securities Commission (BCSC) has noticed an increase in the number of cryptocurrency offerings involving an initial coin offering (ICO) or initial token offering (ITO).
Companies may use cryptocurrency offerings to raise capital or to advance a project or a business, by issuing newly invented coins or tokens through an ICO or ITO. In many cases, these coins and tokens are securities. If they are securities, the company, and associated individuals, conducting the ICO or ITO must comply with securities law.
British Columbia residents should exercise extreme caution when considering whether to invest in a cryptocurrency offering. While some companies follow through on their business plan or idea, others do not. Some companies issue coins or tokens solely for speculative trading in the secondary market, which is an inherently risky activity for investors.
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Source: British Columbia Securities Commission (BCSC)
World Gold Council-Gold 2048 The next 30 years for gold
May 17, 2018--The World Gold Council today launched a one-off essay collection, Gold 2048, bringing together industry-leading experts from across the globe to analyse how the gold market is set to evolve in the next 30 years.
Key conclusions emerging from authors such as George Magnus, senior economist; Rick Lacaille, Global Chief Investment Officer of State Street Global Advisors; and Michelle Ash, Chief Innovation Officer at Barrick Gold include:
The expanding middle class in China and India, combined with broader economic growth, will have a significant impact on gold demand.
Use of gold across energy, healthcare and technology is changing rapidly. Gold's position as a material of choice is expected to continue and evolve over the coming decades.
Mobile apps for gold investment, which allow individuals to buy, sell, invest and gift gold will develop develop rapidly in India and China.
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Source: World Gold Council
Virtus ETF Solutions and InfraCap Introduce Preferred Stock ETF
May 17, 2018--Virtus InfraCap U.S. Preferred Stock ETF Launches on NYSE as 'PFFA'
Virtus ETF Solutions, an affiliate of Virtus Investment Partners, Inc. (NASDAQ: VRTS), has partnered with Infrastructure Capital Advisors, LLC (InfraCap) to introduce the Virtus InfraCap U.S. Preferred Stock ETF, which begins trading today under the ticker "PFFA" on NYSE Arca.
The fund seeks current income and capital appreciation in a sector that may be less understood by investors, said Jay Hatfield, founder and chief executive officer of InfraCap and co-portfolio manager. The fund will invest in a portfolio of more than 100 preferred securities issued by U.S. companies with market capitalizations of more than $100 million. With a focus on income, the fund offers the potential for attractive yields, while pursuing compelling total return results.
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Source: Virtus ETF Solutions
First Trust Launches the First Trust International Capital Strength ETF
May 17, 2018--An ETF that provides exposure to equity securities of developed market companies, excluding the US and Canada.
FT Portfolios Canada Co. ("First Trust Canada"), a privately owned company is pleased to announce the launch of the First Trust International Capital Strength ETF (TSX:FINT).
The First Trust International Capital Strength ETF seeks to provide unitholders with long term capital appreciation by investing primarily in equity securities of developed market companies, excluding the US and Canada, that are traded on global exchanges, with a focus on fundamental strength and growth. Currently, the First Trust International Capital Strength ETF seeks to achieve its investment objective by investing in securities of developed market companies, excluding the U.S. and Canada. Securities invested in by the First Trust International Capital Strength ETF include common shares of public companies and American Depository Receipts, Global Depository Receipts and European Depository Receipts that are traded on global exchanges or markets.
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Source: FT Portfolios Canada Co.
