Americas ETP News
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Do Vanguard and BlackRock Own Too Much of Corporate America?
December 7, 2017--Eric Posner, a University of Chicago law professor, explains why he thinks large asset managers need to be reined in.
Eric Posner is the Kirkland and Ellis Distinguished Service Professor of Law and Arthur and Esther Kane Research Chair at the University of Chicago Law School. Among his research interests is the question of the increasing concentration of ownership in corporate America, including the role of institutional investors. A recent paper he cowrote, in which he proposes limiting the companies an index fund can own in one industry..
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Source: Morningstar, Inc.
Financial Accounts of the United States-Z.1
December 7, 2017--The Financial Accounts of the United States includes data on the flow of funds and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail.
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Source: federalreserve.gov
Merk Insight: Merk 2018 Outlook
December 6, 2017--With the stock market and Bitcoin reaching all-time highs, what can possibly go wrong? In offering my thoughts on 2018, I see my role in reminding investors to stress test their portfolios.
Is your portfolio built of straw, sticks or brick?
First, let me allege many investors have portfolios built of straw and sticks rather than brick. How do I know this? Here’s a brief check:
If a robust portfolio is a diversified one (the only free lunch on Wall Street), then please check whether you have rebalanced your portfolio of late. If not, odds are equities have taken on an oversized portion in your portfolio, thus making it more vulnerable than you might have intended in a downturn.
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Source: Merk Investments
DR Index Monthly Performance-November 2017
December 6, 2017--The BNY Mellon DR Index Monthly Performance for November 2017 report is now available.
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Source: BNY Mellon
Two Xtrackers ETFs to close and liquidate- HDEE and HDEZ
December 6, 2017--Deutsche Asset Management (Deutsche AM) today announced plans to close and liquidate two Xtrackers exchange-traded funds (ETFs)-MSCI Emerging Markets High Dividend Yield Hedged Equity ETF (Cboe:HDEE) and MSCI Eurozone High Dividend Yield Hedged Equity ETF (Cboe:HDEZ). The two funds represent 0.048% of Xtrackers US assets under management as of December 4, 2017.
Deutsche AM plans to close and liquidate these funds following a regular and ongoing process to review and evolve the Xtrackers product lineup to ensure the business continues to meet clients' needs. The last day of trading is expected to be December 18, 2017.
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Source: Deutsche Asset Management
Would Policymakers Target Index Funds?
December 5, 2017--Concentrated ownership debate has found a receptive audience among politicians.
A small but growing body of provocative literature has argued that when institutional investors own large shares of competing companies, it results in higher prices for consumers.
This literature has profound implications for policymakers looking to promote competitive markets.
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Source: KBW
Two tech-focused ETFs face $1.6bn in outflows over past week
December 5, 2017--A duo of closely tracked exchange-traded funds focused on the US technology industry have faced $1.57bn in outflows over the past week, underlining the recent pullback in one of Wall Street's 2017 star performers.
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Source: FT.com
Office of Financial Research Reports on Risks to Financial Stability
December 5, 2017--Overall risks to financial stability remain moderate, similar to a year ago, the U.S. Office of Financial Research said in releasing its 2017 Annual Report to Congress and 2017 Financial Stability Report today.
"We assess threats to financial stability by weighing vulnerabilities in the financial system against its resilience," said OFR Director Richard Berner. "Underneath our moderate assessment are changes in the balance between financial-system vulnerabilities and resilience."
view the 2017 Annual Report to Congress
Source: OFR
ARK Investment Management Launches The ARK Israel Innovative Technology ETF On The Cboe ETF Marketplace
December 5, 2017--ARK Investment Management LLC (ARK), a New York based registered investment adviser, today launched the ARK Israel Innovative Technology ETF (IZRL), primarily listed on the Cboe ETF Marketplace.
The ARK Israel Innovative Technology ETF (IZRL) is designed to provide exposure to, and capture the price movements of, exchange listed Israeli companies whose main business operations are causing disruptive innovation in what ARK believes to be the highest growth potential segments of the economy: the Internet, technology, genomics, health care, biotechnology, industrials, and manufacturing. With an annual expense ratio of 0.49%, IZRL will charge at least 18.6% below the current US-listed Israel-focused ETFs (which range between 0.59% and 0.75% annually).
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Source: ARK Investment Management
