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CFTC.gov Swaps Report Update
March 28, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Renaissance Capital's 1Q18 IPO Market Review
March 28, 2018--Mega Deals Drive Biggest First Quarter in a Decade
The US IPO market had its best quarter by proceeds in three years, raising $15.6 billion with 43 IPOs. Several large deals, including well-known brands ADT and Hudson, resulted in the largest 1Q by proceeds since 2008.
Biotechs and technology led deal flow, with 13 and 10 IPOs, respectively. Headlines during the quarter focused on cloud storage unicorn Dropbox, but the best returns were put up by biotechs Menlo Therapeutics and ARMO BioSciences and cloud security unicorn Zcaler.
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Source: Renaissance Capital
AdvisorShares Active ETF Report: February Flows Weren't Turbulent
March 28, 2018--Assets in actively managed ETFs grew by $990 million in February to reach $49.42 billion in total assets, overcoming the 10% market panic early in the month. Seven new active ETFs launched in February, including six new funds from Vanguard, which has now officially entered the active ETF space.
Last month, we recapped what was a record monthly flow for ETFs in January. February was a different story and consistent with the 4-5% declines for the major US
equity indexes. Although assets in ETFs-both active and passive — contracted in February, the dip was a mere six basis points. Corporate High Yield, which is often a proxy for risk, saw a net decline of $5 billion, or roughly 10% of its AUM, as the segment was viewed as a source of liquidity during the equity market downdraft.
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Source: AdvisorShares
U.S. fourth-quarter growth revised up to 2.9 percent; consumer spending surges
March 28, 2018--U.S. economic growth slowed less than previously estimated in the fourth quarter as the biggest gain in consumer spending in three years partially offset the drag from a jump in imports.
Gross domestic product expanded at a 2.9 percent annual rate in the final three months of 2017, instead of the previously reported 2.5 percent, the Commerce Department said in its third estimate for the quarter on Wednesday.
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Source: Reuters
Evolve ETFs and Foyston, Gordon & Payne Inc. File Final Prospectus for Evolve Active Core Fixed Income ETF
March 28, 2018--FIXD Will Begin Trading on the NEO Exchange on March 29, 2018
Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed a final prospectus to launch the Evolve Active Core Fixed Income ETF ("FIXD"). Evolve ETFs has retained Foyston, Gordon & Payne Inc. ("FGP") to provide sub-advisory services to FIXD.
Units of ticker symbol FIXD have been approved for listing on the NEO Exchange ("NEO") to begin trading on March 29, 2018, subject to confirmation of closing.
FIXD seeks to generate an attractive total investment return through income and long term capital appreciation primarily through investments in debt obligations and other evidences of indebtedness of Canadian, U.S., and international issuers.
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Source: Evolve ETFs
New Dynamic iShares Active ETF for Rising Interest Rate Environment
March 28, 2018--Dynamic Funds and BlackRock Asset Management Canada Limited ("BlackRock Canada") today announced the launch of Dynamic iShares Active Investment Grade Floating Rate ETF (TSX Ticker: DXV).
DXV aims to provide a floating rate of interest income while preserving capital by investing primarily in Canadian investment grade corporate bonds and through using interest rate derivatives that seek to mitigate the effects of interest rate fluctuations. The ETF will provide exposure to an active investment strategy managed by Marc-André Gaudreau.
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Source: Dynamic Funds
Across Generations, Women Trail Men in Financial Knowledge-but the Gap May Be Closing
March 28, 2018--Women consistently lag behind men on financial and investor literacy scores across generations of boomers, gen Xers and millennials, according to a multi-year study by the FINRA Investor Education Foundation.
In 2015, the gap in financial literacy between boomer men and women was 19 percent, and for gen Xers 18 percent. But for millennials, it was only 10 percent.
"It is encouraging that the gap in financial literacy and self-assessed financial knowledge appears to be narrowing for millennials-a trend that bodes well for women in the future," said FINRA Foundation President Gerri Walsh.
view the FIRNA-Gender, Generation and Financial
Knowledge: A Six-Year Perspective study
Source: Financial Industry Regulatory Authority (FINRA)
Declining Fees Take Big Bite Out of Asset Manager Revenues
March 27, 2018--In an industry that has largely been immune to the so-called Walmart effect for decades, declining prices are hitting publicly traded asset managers hard, a new analysis finds.
The amount of money that publicly traded asset managers oversee grew by 16 percent in 2017-but that double-digit increase came from the rise in global markets last year and not organic growth, according to a new analysis from asset management consultancy Casey Quirk, which is owned by Deloitte.P>view more
Source: institutionalinvestor.com
Wall Street rethinks blockchain projects as euphoria meets reality
March 27, 2018-- Wall Street has been much more excited about the system underpinning bitcoin than the cryptocurrency itself, but the global financial industry has not yet been able to do much with the technology known as blockchain.
Reuters has found several blockchain projects launched by major financial institutions that have been shelved, as development of the technology enters a hype-meets-reality phase.
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Source: Reuters
Canadian securities administrators announce policy projects aiming to reduce regulatory burden in public markets
March 27, 2018--The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-353 Update on CSA Consultation Paper 51-404 Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers, which outlines the CSA's plan to pursue policy projects to examine specific prospectus requirements, revisit certain continuous disclosure requirements, and enhance electronic delivery of documents.
"Following extensive feedback from stakeholders, we are moving forward with several projects that could meaningfully reduce regulatory burden for public companies in Canada'ss capital markets," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers.
