Americas ETP News
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Goldman Sachs Asset Management Launches Access Exchange-Traded Fund Goldman Sachs Access High Yield Corporate Bond ETF
September 7, 2017--Goldman Sachs Access High Yield Corporate Bond ETF (Ticker: GHYB) Offers Smart Beta Bond Exposure
GSAM today announced the expansion of its Access suite of exchange-traded funds ("ETF") with the launch of the Goldman Sachs Access High Yield Corporate Bond ETF (Ticker: GHYB).
The fund seeks to offer lower-cost1 access to high yield corporate bond markets.
GHYB seeks to track the Citi Goldman Sachs High Yield Corporate Bond Index (the "Index"), which uses a transparent, rules-based methodology, aiming to exclude those bonds with the greatest potential to default or deteriorate in price. It is priced to investors at 34 basis points2 and will begin trading on the NYSE Arca on September 7 with $50 million in assets.
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Source: Goldman Sachs Asset Management, L.P.
State Street agrees $35m fraud settlement with SEC
September 7, 2017--Complaints related to hidden mark-ups and lack of disclosure over an electronic platform.
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Source: FT.com
BullMark LatAm Select Leaders ETF to Delist from the Nasdaq
September 7, 2017---As per the Listing Qualifications Staff of the Nasdaq Stock Market LLC, shares of the BullMark LatAm Select Leaders ETF-BMLA (the "Fund") will be delisted from Nasdaq due to the fund's non-compliance with the minimum shareholder requirement.
Details of the ETF are as follows.
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Source: Horizons ETFs Management (US), LLC
Study: Fee-Based Advice to Soldier on Regardless of Rule Outcome
September 7, 2017--Regardless of the long-term fate of the Department of Labor's fiduciary rule, advisors in broker-dealer channels will continue shifting to fee-based products and passively managed investments, a new survey found.
Broker-dealer advisors are also expected to disengage from smaller, less profitable clients.
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Source: insurancenewsnet.com
U.S. firm backing ether-based ETF says to refile listing application
September 7, 2017--The U.S. firm behind an effort to start an exchange-traded fund based on the cryptocurrency ether said on Thursday it planned to refile an application to list the security on Intercontinental Exchange Inc's NYSE Arca exchange after an initial filing was withdrawn.
NYSE withdrew the application with the U.S. Securities and Exchange Commission to list the EtherIndex Ether Trust ETF on Wednesday, according to a regulatory filing.
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Source: Reuters
ULTUMUS-Five plain vanilla listings from PowerShares
September 7, 2017--PowerShares is listing five new funds under its "PureBeta" brand. The listings suggest that the fourth largest American issuer is taking a different strategy in its product offering, breaking away from its smart-beta-centred approach and trying to make headways in plain vanilla ETFs.
The new funds are:
PowerShares PureBeta MSCI USA Portfolio (PBUS)
PowerShares PureBeta MSCI USA Small Cap Portfolio (PBSM)
....
Apt value ETF from Aptus
Aptus is listing a new fund on Bats which tracks an index built in-house. The Aptus Fortified Value ETF (FTVA) will invest in 50 companies and real estate trusts that it believes are undervalued.....
iShares updates its 10 year iBond
iShares has updated its 10-year iBond for 2017, issuing a fund that offers exposure to investment-grade corporate bonds that mature between January 1, 2027 and December 15, 2027.
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Source: ULTUMUS-Financial Data Management
More Investors Put More Money Into ETFs, Survey Says
September 7, 2017--The annual survey by Charles Schwab says four out of 10 ETF investors expect the funds to become their primary investment vehicle.
U.S. investors have nearly doubled portfolio allocations to ETFs in the past five years, and even more expect to embrace the investment vehicle in the next few years, according to a study by Charles Schwab (SCHW).
The firm released its seventh annual "ETF Investor Study" today, and it showed that on average, ETF investors put 27% of their portfolios into ETFs, compared to 16% in 2012.
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Source: Barron's
Bats Welcomes New Issuer Point Bridge Capital to the Bats ETF Marketplace
September 7, 2017--Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded product (ETP) trading globally, today welcomed new issuer Point Bridge Capital to the Bats ETF Marketplace, with the launch of one fund.
The Point Bridge GOP Stock Tracker ETF (Bats: MAGA) seeks to track the performance, before fees and expenses, of the Point Bridge GOP Stock Tracker Index. The Index uses an objective, rules-based methodology to track the performance of companies whose employees and political action committees are highly supportive of Republican political candidates and party-affiliated federal committees or groups.
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Source: Bats Global Markets
VanEck(R) Merk(R) Gold Trust (OUNZ) Reduces Fees for Gold Delivery
September 6, 2017--OUNZ is the only gold ETF with a patented process by which investors can take delivery of their gold
VanEck Merk Gold Trust (OUNZ), reduces fees investors pay to take delivery of their gold.
"Investors appreciate the ease of buying gold through an ETF, but foremost, they want to be assured the gold is really there for them. Now, we are reaffirming on our commitment to provide investors with easy and cost-effective access to their gold," explains Axel Merk, President of Merk Investments, the sponsor of OUNZ.
On any business day, investors may request delivery of the London Bars held by the Trust, as well as exchange their shares for gold coins (or bars) that are more commonly desired by individual investors.
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Source: Merk Investments
Beige Book-National Summary-September 6, 2017
September 6, 2017--Overall Economic Activity
Economic activity expanded at a modest to moderate pace across all twelve Federal Reserve Districts in July and August. Consumer spending increased in most Districts, with gains reported for nonauto retail sales and tourism, but mixed results for vehicle sales.
Capital spending also increased in several Districts. Manufacturing activity expanded modestly on balance. That said, reports were mixed regarding auto production, and contacts in many Districts expressed concerns about a prolonged slowdown in the auto industry. Both residential and commercial construction increased slightly overall. Low inventories of homes for sale continued to weigh on residential real estate activity across the country, while commercial real estate activity increased slightly. Activity in the energy and natural resources sector was generally positive prior to shutdowns arising from Hurricane Harvey.
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Source: federalreserve.gov
