Americas ETP News
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AdvisorShares-This Week in Active ETFs: We’ll Always Have Paris
June 5, 2017--Week Ending 6/2/2017
Macro
As you know by now the U.S. pulled out of the Paris Accord...sort of...three years from now. This is a complicated issue and while we will refrain from judgment, the argument put forth by the White House on Thursday for pulling out was economic; they said it was a bad deal for the U.S. in terms of placing a disproportionate share of the financial burden on the U.S.
The concerns expressed by foreign leaders include the perception that the U.S. has turned its back on the world community in this regard, that the U.S. is no longer a leader in these matters and that if the U.S. actually follows through with exiting the accord, it will be difficult to renegotiate back in, which is a door that the President tried to leave open.
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Source: AdvisorShares
Global X Names ETF Industry Veteran Jon Maier Chief Investment Officer
June 5, 2017--Global X Management Company LLC (Global X), the New York-based provider of exchange-traded funds (ETFs), today announced the appointment of Jon Maier as Chief Investment Officer.
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Source: Global X
The Passive War-BlackRock, Vanguard, and State Street control more than 80 percent of the ETF landscape.
June 5, 2017-For the other players, the fight for survival is about to get more aggressive.
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Source: Bloomberg
Franklin LibertySharesTM Strategic Beta ETFs to Commence Trading on TSX
June 5, 2917-Franklin Templeton Investments Canada announced that two Franklin LibertyShares strategic beta ETFs, Franklin LibertyQT U.S. Equity Index ETF (FLUS) and Franklin LibertyQT International Equity Index ETF (FLDM), will begin trading on the Toronto Stock Exchange (TSX) at market open today.
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Source: Franklin Templeton Investments
SEC reasserts itself on investment-advice standards, but it's not clear whether it will overtake DOL fiduciary rule
June 2, 2017--New SEC Chairman Jay Clayton makes request for comment on fiduciary duty one of his first actions, as DOL reasseses its measure
In one of his first actions as Securities and Exchange Commission chairman, Jay Clayton turned the agency's attention to investment-advice standards, a move longed for by financial industry opponents of the Labor Department's fiduciary duty rule.
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Source: investmentnews.com
J.P. Morgan Asset Management Appoints Joanna Gallegos Head of U.S. ETFs
June 2, 2017--J.P. Morgan Asset Management today announced that Joanna Gallegos has been named Head of its U.S. ETF business, reporting to Mike Camacho, Global Head of Beta Strategies.
Ms. Gallegos has been instrumental in the firm;s U.S. fund launches, which have included 13 product launches with over $1 billion in assets under management.
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Source: J.P. Morgan Asset Management
Thought Mortality Was Dead? Considerations for Pensions Given the IRS's Delay in Implementing RP-2014
June 2, 2017--Longevity risk, the risk that plan participants live longer than assumed, gained widespread attention in October 2014 when the Society of Actuaries released its draft of updated mortality assumptions (called RP-2014).
Because this was the first update to the standard assumptions in over a decade, the change from the previous tables was noticeable: a boost of life expectancy of two to three years, on average. By 2016, accounting auditors largely required defined benefit plan sponsors to use the updated assumptions on their financial statements, resulting in an average drop in reported funded status of 4%-8%. 1
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Source: cambridgeassociates.com
Bats ETF Implied Liquidity Feed Now Available on Money.Net
June 1, 2017--Money.Net becomes the first platform distribution partner to offer the new product.
Bats, a CBOE Holdings, Inc. company, and a leading global operator of exchanges and
services for financial markets, today announced that its Bats ETF Implied Liquidity Feed is now available
for use on Money.Net platforms.
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Source: Bats Global Markets
Bats Welcomes New Amplify ETFs Fund to the Bats ETF Marketplace
June 1, 2017 – Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded product (ETP) trading globally, today welcomed a new Amplify ETFs fund to the Bats ETF Marketplace.
The Amplify YieldShares Oil Hedged MLP Income ETF (Bats: AMLX) seeks to provide a high level of current income as its primary investment objective and to provide returns from energy master limited partnerships with a view toward reduced volatility as its secondary investment objective.
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Source: Bats Global Markets
Research Affiliates -Populism, Politics, Policy, and Profits
June 1, 2017--Key Points
An increasing body of research shows that previously documented relationships in the investment literature are the result of reporting bias, data mining, and selection bias.
Using data for five international markets, we test the robustness of US results that show a relationship between US stock returns and presidential politics-stock returns are higher under Democratic presidents and lower under Republican presidents-and find the US results appear to be spurious.
Our analysis of the respective stock markets and incumbent political parties of Australia, Canada, France, Germany, and the United Kingdom finds a result opposite that identified in the US, indicating that investors should interpret historical statistical relationships with a healthy skepticism.
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Source: Research Affiliates
