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U.S. Fund-Flows Weekly Report: Funds Suffer Overall Net Outflows Driven by Money Market Funds
September 22, 2017--Thomson Reuters Lipper's fund macro-groups (including both mutual funds and ETFs) experienced net-negative flows of $9.8 billion for the fund-flows week ended Wednesday, September 20.
All the weekly net outflows were attributable to money market funds (-$18.2 billion); every other fund macro-group took in net new money. Taxable bond funds (+$7.0 billion) were responsible for the lion's share of the net-positive flows, while equity funds and municipal bond funds contributed $803 million and $574 million, respectively, to the total net inflows.
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Source: Thomson Reuters Lipper
Evolve Funds Group Inc. Announces Filing of Preliminary Prospectus for Canada's First Bitcoin ETF
September 22, 2017--Evolve Funds Group Inc. ("Evolve Funds") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for Canada's first cryptocurrency ETF, Evolve Bitcoin ETF ("BITS").
This new Evolve ETF is designed to provide Canadian investors with indirect exposure to the world's first decentralized currency.
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Source: Business Insider
Investment Adviser Association to form active managers council
September 21, 2017--Group will lobby to stave off rise of cheap passive funds
The Investment Adviser Association, representing more than 600 US asset managers, trusts, pension plans, endowments and financial advisers that together manage about $20tn, plans to launch a council dedicated to defending active money management later this year.
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Source: FT.com
RBC Global Asset Management selects FTSE Russell indexes for seven new ETFs for Canadian investors
September 21, 2017--Global equity & fixed income indexes from FTSE Russell in seven new RBC ETFs
FTSE Russell continues to build Canada retail presence and partner relationships
RBC GAM relationship shows growing multi-asset capabilities for FTSE Russell
FTSE Russell today announces that RBC Global Asset Management (RBC GAM) has selected seven FTSE Russell indexes, including the recently acquired Citi World Government Bond Index, as benchmarks for RBC's new equity and fixed income index ETF offerings, which began trading on the Aequitas NEO Exchange today.
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Source: RBC GAM
WisdomTree Canada Expands Product Suite with Addition of Three New Funds
September 21, 2017--New equity offerings provide investors with efficient access to diverse sectors and markets 21, 2017--
WisdomTree Asset Management Canada, Inc. ("WisdomTree Canada") today announced the launch of three equity funds, the WisdomTree Canada Quality Dividend Growth Index ETF ("DGRC"), WisdomTree Emerging Markets Dividend Index ETF ("EMV.B") and WisdomTree U.S. MidCap Dividend Index ETF ("UMI" and "UMI.B") (collectively the "Funds").
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Source: WisdomTree Investments, Inc.
Federal Reserve weans US off stimulus
End of an era as financial crisis measure is put into reverse
September 21, 2017--The US Federal Reserve is to put its multitrillion-dollar quantitative easing programme into reverse almost nine years after it was implemented to shore up the economy at the height of the financial crisis.
The Fed's policymaking committee announced last night that the central bank would begin to trim its $4.5 trillion asset portfolio next month, marking the end of an era of unprecedented intervention.
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Source: The Times
SEC Adopts Interpretive Guidance on Pay Ratio Rule
September 21, 2017--The Securities and Exchange Commission has approved interpretive guidance to assist companies in their efforts to comply with the pay ratio disclosure requirement mandated by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Under the Commission's rule implementing the pay ratio requirement, companies are required to begin making pay ratio disclosures in early 2018.
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Source: SEC.gov
M&A Activity Heats up for Independent Broker-Dealers, According to Fidelity(R)
September 21, 2017--Fidelity(R) M&A Report Shows $136 Billion Changes Hands Year-to-Date as IBDs Move to Mitigate Thinning Margins and Increase Advisor Productivity
New Report Looks at How Fewer, but Bigger M&A Transactions are Altering the IBD Channel
Fidelity Clearing & Custody Solutions, the division of Fidelity Investments that provides clearing and custody to broker-dealer firms, registered investment advisors (RIAs), family offices, retirement recordkeepers and banks, today released the latest report in its Fidelity Wealth Management M&A Series, Insights from Independent Broker-Dealers (IBDs), which found that year-to-date, $136 billion in assets changed hands among IBDs as a result of five deals. This compares to the $80 billion spread across 82 deals among RIAs during the same time period. The report looks at how fewer, but bigger M&A transactions are altering the future of the IBD channel.
view the Fidelity Wealth Management M&A Series, Insights from Independent Broker-Dealers (IBDs), September 2017
Source: Fidelity Investments
AdvisorShares Active ETF Report: The Summer Surge
September 20, 2017--Month ending 08.31.2017
Assets in actively managed ETFs increased by $1.44 billion, or 3.7%, to $39.47 billion. Several comings and goings occurred within the space including Tuttle exiting the field and new addition Fieldstone joining the ranks. The overall actively managed ETF count stood at 184 through month-end.
ETF industry-wide, also accounting for passive, domestic equity represented the largest category gainer but among the interesting data points during August included inverse funds seeing their assets increase by 12% and the asset allocation niche realizing a 10% gain. Despite both categories driven primarily by passive strategies, such ETFs are increasingly used as part of active investment strategies by advisors or by individual investors.
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Source: AdvisorShares
