Americas ETP News
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CFTC.gov Swaps Report Update
October 11, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
ETFGI reports assets invested in ETFs/ETPs listed in the United States have increased 24.2% in 2017 to reach a new record of US$3.166 trillion at the end of September 2017
October 10, 2017--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in ETFs/ETPs listed in the United States have increased 24.2% in the first 9 months of the year to reach a new record of US$3.166 trillion at the end of September 2017, according to ETFGI's September 2017 preliminary US ETF and ETP industry insights report.
The US ETF/ETP industry had 2,035 ETFs/ETPs, assets of US$3.166 trillion, from 117 providers on 4 exchanges.
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Source: ETFGI
Change Finance Launches CHGX, Impact Investing ETF
October 10, 2017--First truly fossil fuel-free ETF utilizes diversified impact screens
Change Finance, a majority women-run asset manager, today announced the launch of its first ETF. The Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free ETF (NYSE: CHGX) is the only ETF that uses diversified impact screens to look beyond excluding fossil fuels, taking a comprehensive approach to socially responsible investing.
CHGX's methodology is informed by the United Nations Sustainable Development Goals (SDGs). These internationally agreed-upon standards seek to eradicate poverty, protect planetary life support, and achieve lasting peace and dignity for humanity.
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Source: Change Finance
AdvisorShares Weekly Market Review-Jobs Weak, Market Doesn't Care
October 10, 2017--Highlights of the Week Ending 10/6/2017
Macro
The jobs report was widely expected to be impacted by the hurricanes but the effect was more than expected, showing a decline of 33,000 jobs versus estimates ranging from 80,000-90,000.
The headline unemployment rate actually dropped a tick to 4.2% while the labor force participation rate increased to 63.1%. The broader U6 unemployment rate came in at 8.3% and revisions from the previous two months were a negative 38,000. Perhaps most interesting is that wages moved up out of its multi-month rut of 0.2/2.5 to show a gain in September of 0.5% with the year over year number at 2.9% which would appear to provide some cover for a December rate hike. Barron's offered a counter opinion from the Liscio Report that jobs lost were lower paying jobs because of the storm thus making the wage boost an anomaly to be subsequently reversed.
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Source: AdvisorShares
Fair Access to Investment Research Act of 2017 Signed Into Law
October 10, 2017--On October 6, 2017, President Trump signed into law the Fair Access to Investment Research Act of 2017 (FAIR).
Under this law the Securities and Exchange Commission (SEC) is to establish and implement a "safe harbor" for research reports issued by broker-dealers which will allow broker-dealers to provide research reports on Exchange Traded Funds (ETFs), provided they meet certain requirements.
An ETF is a marketable security that tracks a stock index, a commodity, bonds, or a basket of assets like an index fund and trades like a common stock on a stock exchange. Under current law, this type of report is considered an offering for sale and a broker-dealer is required to file a registration statement for that offering.
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Source: withum.com
"UTES" Celebrates Two-Year Anniversary As An Actively Managed Utilities ETF
October 10, 2017--The Reaves Utilities ETF (NYSE MKT: UTES) has marked its second anniversary*. The first and only actively managed utilities exchange-traded fund, UTES has outperformed its passive benchmark index, the S&P 500 Utilities Index** for the period from inception through 9/30/17.
During this period, UTES had an annualized return of 18.11%, net of all fees and expenses, compared to the 16.30% return of the passive index while providing its investors with full transparency and daily updates on its holdings. The fund's Total Annual Operating Expense is 0.95%.
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Source: Virtus ETF Advisers LLC
The Ryan Pension Letter September 2017
October 9, 2017--Ryan ALM Pension Letter is a quarterly nesletter that measures pension asset growth vs. pension liability growth based on ASC 715, PPA spot rates, PPA MAP-21, GASB and market discount rates.
Ryan ALM Pension Letter also reviews a wide range of topical subjects related to pensions and global economic events.
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Source: Ryan ALM, Inc.
Humans Beat Computers With Light Street Hedge Fund Gaining 44%
October 9, 2017--Main Systematica quant fund is said to drop almost 7% in 2017
Traditional equity and quant strategies have low correlation
The human stock pickers at hedge funds are leading the pack this year, while computer-run strategies pull up the rear. That’s no accident.
Traditional equity funds and quant vehicles tend to move in the opposite directions.
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Source: Bloomberg
Head of ETF provider warns on concentration of holdings in bigger stocks
October 8, 2017--Invesco boss says investors building up risk by blindly pouring money into indices.
The head of the fourth-largest exchange traded fund provider has warned that investors are blindly pouring money into highly concentrated stock indices, putting them at risk of outsized losses if markets tumble.
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Source: FT.com
Invesco moves boldly to grab more ETF power
October 7, 2017--Latest acquisition highlights fierce competition for exchange traded fund assets
The race for assets across the exchange traded funds industry moved into a new gear in late September with Invesco's move to buy the $36.7bn ETF business of Guggenheim, a rival US asset manager.
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Source: FT.com
