Americas ETP News
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The barbell tolls for fixed income investing
September 24, 2024--A trend long associated with equity investing is now playing out in the bond markets
A trio of recent records tells us something important about capital markets: that the "barbell effect" long associated with equity investing is now playing out in the bond markets in earnest.
This shift underscores just how much the market structure of finance is changing.
Investors have poured nearly $190bn into US fixed income exchange traded funds this year to August according to Morningstar, 50 per cent higher than this time last year.
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Source: ft.com
21Shares Announces Fee Reduction for Flagship ETPs, HODLX and BOLD
September 24, 2024-- 21Shares AG ("21Shares"), one of the world's largest issuers of cryptocurrency exchange traded products (ETPs) and a subsidiary of 21.co, is pleased to announce a significant fee reduction for two of its flagship products: the 21Shares Crypto Basket 10 ETP (HODLX) and the 21Shares Bytetree BOLD ETP (BOLD).
Effective immediately, the management fees for these ETPs have been lowered to 0.49% for HODLX and 0.65% for BOLD, making these innovative investment vehicles more accessible to a broader range of investors.
The 21Shares Crypto Basket 10 ETP (HODLX) provides diversified exposure to the top ten digital assets by market capitalization, rebalanced quarterly to reflect the dynamic nature of the cryptocurrency market. With this fee reduction to 0.49%, investors can now benefit from a more cost-effective way to capture the growth potential of the digital asset space in a single, diversified ETP.view more
Source: 21Shares
Federal Reserve signals end to inflation fight with a sizable half-point rate cut
September 18, 2024--Key points
The Federal Reserve slashed its benchmark interest rate by half a percentage point, the first and the biggest cut since March 2020 when COVID-19 was hammering the economy.
The cut amounts to a declaration of victory over inflation, which has come down from a peak of 9.1% in June 2022 to 2.5% last month.
The Fed signaled that it will cut the rate by another half a percentage point this year and expects four more cuts in 2025 and two in 2026.
The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for American consumers.
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Source: apnews.com
American Century Investments Announces Change to ETF Lineup
September 11, 2024--- American Century Investments today announces plans to close and liquidate American Century Emerging Markets Bond ETF (AEMB).
AEMB will cease trading on the NYSE Arca, Inc. at the close of the market on Sept. 26, 2024.
After this date, the fund will not accept purchase orders. On or about Oct. 3, 2024, the fund will liquidate and distribute its remaining assets to shareholders who have not yet redeemed or sold their shares. Prior to liquidation, the fund should be expected to deviate from its stated investment objective and strategies as it converts its remaining portfolio holdings to cash in preparation for the final distribution to shareholders.
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Source: American Century Investments
The alternative investment giant is dipping into the ETF space through a partnership with State Street, a filing with the SEC shows.
September 10, 2024--Apollo quietly progresses toward first private-asset ETF
The alternative investment giant is dipping into the ETF space through a partnership with State Street, a filing with the SEC shows.
Apollo Global Management Inc. is working on its first exchange-traded fund, linking up with State Street Corp. on an offering that will include private credit investments.
State Street registered the SPDR SSGA Apollo IG Public & Private Credit ETF, according to a regulatory filing on Tuesday. A portion of the fund will be allocated toward liquid credit, while Apollo will seek to originate a pocket of private credit investments for the vehicle.
State Street joins firms like BlackRock Inc. and Invesco Ltd. that are looking to make private assets more accessible to individual investors, with Tuesday’s filing being first out of the gate. Apollo Chief Executive Officer Marc Rowan said in May that he was planning to expand its asset origination business to sell private credit to retail channels.
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Source: investmentnews.com
Morgan Stanley to debut first Pathway-branded ETFs
September 5, 2024--The funds will be conversions of existing fund strategies and are set to start trading in November
Morgan Stanley plans to convert two of its flagship equity funds totalling $3bn in assets into the manager's very first ETFs under the "Morgan Stanley Pathway" brand, according to a regulatory filing.
It has filed to refashion the $2.6bn Morgan Stanley Pathway Large Cap Equity Fund and the $470mn Morgan Stanley Pathway Small-Mid Cap Equity Fund into ETFs, according to a filing with the Securities and Exchange Commission.
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Source: ft.com
Harbor Capital Advisors Expands Growing ETF Suite; Launches the Harbor AlphaEdge Large Cap-Value ETF and Harbor AlphaEdge Next Generation REITs ETF
September 5, 2024--Harbor Capital Advisors, Inc. ("Harbor"), an asset manager that curates a suite of actively-managed ETFs, mutual funds, and collective investment trusts, is expanding its suite of AlphaEdge ETFs with the launch of the Harbor AlphaEdge Large Cap-Value ETF (Ticker: "VLLU") and the Harbor AlphaEdge Next Generation REITs ETF (Ticker: "AREA").
Harbor Capital Advisors, Inc. ("Harbor"), an asset manager that curates a suite of actively-managed ETFs, mutual funds, and collective investment trusts, The new ETFs follow the recent inaugural launch of the AlphaEdge Small Cap Earners ETF (Ticker: EBIT)
The AlphaEdge suite uses proprietary index strategies developed and managed by Harbor Capital Advisors, Inc.'s Multi-Asset Solutions Team. AlphaEdge strategies stem from proactively working with and listening to clients while evaluating market cycles to identify what Harbor believes are areas of opportunity to earn excess returns or develop more efficient solutions.
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Source: Harbor Capital Advisors, Inc.
Macquarie Asset Management expands flagship emerging markets equity platform with new ETF
September 5, 2024--Macquarie Asset Management today announced the launch of Macquarie Focused Emerging Markets Equity ETF (EMEQ), which began trading on the Nasdaq Stock Market today. The new exchange-traded fund (ETF) is managed by the firm's Emerging Markets Equity Team, led by Liu-Er Chen, CFA.
The experienced team, with $US8.3 billion in assets under management, has applied its investment philosophy consistently for more than two decades and believes that the combination of secular growth opportunities, high-conviction stock selection, and valuation discipline can provide the foundation for strong long-term investment returns.
The actively managed portfolio of 35-60 stocks seeks to invest in competitively advantaged companies that are well positioned to capture long-term secular growth opportunities in emerging markets.
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Source: Macquarie Asset Management
GraniteShares new Short and Leveraged Single Stock ETF launches Highlights: 2X Palantir, 2X UBER, and -1X Coinbase
September 4, 2024--Today, GraniteShares, an ETF issuer specializing in high conviction ETFs, announced that it has added three new short & leveraged single-stock ETFs to its existing lineup. The new ETFs will bring the total number of short and leveraged ETFs that GraniteShares offers to 16.
These new additions will aim to replicate either +2X or -1X the daily variations of their underlying stocks: Fund Name: GraniteShares 2x Long PLTR Daily ETF
Ticker: PTIR
Fund Name:
GraniteShares 2x Long UBER Daily ETF
Ticker: UBRL
Fund Name:
GraniteShares 1X Short COIN Daily ETF
Ticker: CONI.
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Source: GraniteShares
Beige Book-August 2024
September 4, 2024--Overall Economic Activity
Economic activity grew slightly in three Districts, while the number of Districts that reported flat or declining activity rose from five in the prior period to nine in the current period. Employment levels were steady overall, though there were isolated reports that firms filled only necessary positions, reduced hours and shifts, or lowered overall employment levels through attrition.
Still, reports of layoffs remained rare. On balance, wage growth was modest, while increases in nonlabor input costs and selling prices ranged from slight to moderate.
Consumer spending ticked down in most Districts, having generally held steady during the prior reporting period. Auto sales continued to vary by District, with some noting increases in sales and others reporting slowing sales because of elevated interest rates and high vehicle prices. Manufacturing activity declined in most Districts, and two Districts noted that these declines were part of ongoing contractions in the sector.
Residential construction and real estate activity were mixed, though most Districts' reports indicated softer home sales. Likewise, reports on commercial construction and real estate activity were mixed. District contacts generally expected economic activity to remain stable or to improve somewhat in the coming months, though contacts in three Districts anticipated slight declines.
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Source: federalreserve.gov
