Americas ETP News
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Federal Reserve issues FOMC statement
June 14, 2017--Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year.
Job gains have moderated but have been solid, on average, since the beginning of the year, and the unemployment rate has declined. Household spending has picked up in recent months, and business fixed investment has continued to expand. On a 12-month basis, inflation has declined recently and, like the measure excluding food and energy prices, is running somewhat below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
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Source: federalreserve.gov
BNY Mellon's Lockwood Launches New Investment Solution with American Funds at the Core
June 14, 2017--The new solution marks an important milestone for the industry, bundling American Funds mutual funds with ETF solutions.
BNY Mellon's Lockwood Advisors, Inc. (Lockwood) today announced it has developed a suite of new portfolios using American Funds(R) at the core. The Lockwood/American Funds Core Portfolios, created by Lockwood's investment team, combines American Funds' mutual funds with exchange-traded funds (ETFs), providing financial professionals with the opportunity to harmonize active and passive strategies to help achieve investor goals.
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Source: BNY Mellon
Head of Institutional Sales Announced for Global SPDR Business at State Street Global Advisors
June 14, 2017--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (STT) today announced the appointment of Kathryn Sweeney as head of SPDR Americas Institutional sales, reporting into Nick Good, co-head with Rory Tobin of the global SPDR business.
Sweeney will be responsible for defining and leading the execution of the SPDR Americas Institutional Sales Strategy in the Americas.
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Source: State Street Global Advisors
First Trust CBOE S&P 500 VIX Tail Hedge Fund Announces Changes to Investment Objective, Fund Name, Listing Exchange and Ticker Symbol
June 13, 2017--June 13, 2017--First Trust CBOE S&P 500 VIX Tail Hedge Fund (NYSE: VIXH) (the "Fund"), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund (the "Trust"), announced today that the Board of Trustees ("Board") of the Trust has approved changes to the Fund's investment objective. On or around August 18, 2017, the Fund will seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Nasdaq Dorsey Wright People's Portfolio Index (the "New Index").
The New Index will be developed, maintained and sponsored by Nasdaq, Inc. ("Nasdaq”).
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Source: First Trust CBOE S&P 500 VIX Tail Hedge Fund
Pimco to Replace Retiring President Jacobs With Two Veterans
June 13, 2017--CEO Emmanuel Roman names Shanahan and Strelow as co-COOs
Management shift is biggest since Roman took charge last year
Pacific Investment Management Co. named a pair of veteran executives as co-chief operating officers to replace retiring President Jay Jacobs on Tuesday, the biggest reorganization since Chief Executive Officer Emmanuel "Manny" Roman joined the money manager in November.
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Source: Bloomberg
Exponential ETFs and BrandometryTM Jointly Launch Brand Value ETF (BVAL)
June 13, 2017--The exchange-traded fund (ETF) will trade on the New York Stock Exchange.
Exponential ETFs and Brandometry today launch the Brand Value ETF (NYSE: BVAL), which is designed to outperform the broader market by identifying companies with strong brands whose latent value has not yet been realized by their stock price by tracking the BrandTransact 50 Index.
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Source: Exponential ETFs
AdvisorShares-This Week in Active ETFs: The Alpha All-Star Summit Is Coming
June 12, 2017--AdvisorShares Weekly Market Review-Week Ending 6/9/2017
The Dark Knight Passes
Macro
The broad market benchmarks had a curious week. The Dow and the S&P 500 were very flat (up 27 basis points and down 32 basis points respectively) while the Russell 2000 gained 1.12% and the NASDAQ fell 1.59%, including a 1.82% drop on Friday alone for the NASDAQ.
Barron's attributed that Friday hit to concerns raised by a couple of brokerage firms that the recent outperformance of a handful of tech stocks (more on this below) might be overdone and due to mean revert.
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Source: AdvisorShares
Cheat sheet: Treasury's extensive reg relief wishlist
June 12, 2017--The Treasury Department released its highly-anticipated report on revamping financial industry regulations late Monday, including many expected recommendations while also offering up some surprises.
In some respects, the report echoes a bill passed by the House last week, including a leverage ratio "off-ramp" from many post-crisis rules, a significant paring back of the Federal Reserve's stress testing program and a reconsideration of many of the international standards the U.S. follows.
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Source: americanbanker.com
Pacer ETFs Crosses $1 Billion Threshold
June 12, 2017--In two years, Pacer ETFs has reached a major milestone, a testament to their strategy driven ETFs
Pacer ETFs, an award-winning ETF provider that offers passive rules
-based strategies, is excited to announce its growth of more than $1 billion in assets under management just as they celebrate their second birthday.
"It's an exciting time to be at Pacer. We’ve achieved a major milestone, crossing the $1 billion threshold just as we're turning two years old, and we,ve only just scraped the surface of our potential.
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Source: Pacer Financial
Mackenzie announces change to Mackenzie Maximum Diversification US Index ETF
June 12, 2017--Mackenzie Financial Corporation (Mackenzie Investments) announced today a reclassification of the Mackenzie Maximum Diversification US Index ETF risk rating from "Low to Medium" to "Medium".
The ETF seeks to replicate the performance of the TOBAM Maximum Diversification USA Index, or any successor thereto. It invests primarily in U.S. equity securities.
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Source: mackenzieinvestments.com
