Americas ETP News
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U.S. regulators push new ETF rules despite industry's howl
March 8, 2017--U.S. regulators are advancing rules this week to tighten standards on the ballooning exchange-traded fund industry over the objections of asset managers including BlackRock Inc (BLK.N) and Invesco Ltd (IVZ.N).
The U.S. Securities and Exchange Commission last year pushed the three main ETF trading venues to draft rules that explicitly require the funds to continually pass a number of tests or face the possibility of being shut down, according to three people with knowledge of the matter and the regulator's filings.
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Source: Reuters
Bats Welcomes New Global X Fund to the Bats ETF Marketplace
March 8, 2017--27 Issuers, 156 Funds Now Listed on Bats in the U.S.
Bats Global Markets, Inc. (Bats: BATS), the #1 U.S. market for exchange-traded fund (ETF) trading, today welcomed a new Global X Fund to the Bats ETF Marketplace.
The Global X U.S. Infrastructure Development ETF (Bats: PAVE) seeks to provide investment results that correspond generally to the price and yield performance of the Indxx U.S. Infrastructure Development Index.
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Source: Bats Global Markets
Pimco revamps BOND ETF, changing fund's name and managers
March 8, 2017--Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund (BOND.P) and changing its name, a spokeswoman for the fund management company said on Wednesday, the latest transformation for what was once the largest actively managed ETF.
The fund's new name will be the Pimco Active Bond ETF. Managers Scott Mather, Mark Kiesel and Mihir Worah are being replaced by David Braun, Jerome Schneider and Daniel Hyman.
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Source: Reuters
Barclays Launches iPath(R) Series B Bloomberg Natural Gas Subindex Total ReturnSM ETN
March 8, 2017--New iPath(R) Series B Bloomberg Natural Gas Subindex Total ReturnSM ETN (ticker: GAZB) provides investors with exposure to the underlying natural gas futures index
Barclays Bank PLC ("Barclays") announced today the launch of the iPath(R) Series B Bloomberg Natural Gas Subindex Total ReturnSM ETNs ("New ETNs") on the NYSE Arca exchange under the ticker symbol GAZB.
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Source: Barclays
Global X Funds Announces Launch of U.S. Infrastructure Development ETF (PAVE)
March 8, 2017--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today launched the Global X U.S. Infrastructure Development ETF (BATS: PAVE).
Designed to track the Indxx U.S. Infrastructure Development Index, the fund holds a basket of companies involved in the maintenance and development of infrastructure projects, including those involved in construction & engineering; the production of materials and composites; the transportation of those materials; and the distribution of heavy machinery.
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Source: Global X
'Fearless Girl' statue stares down bronze Wall Street bull
March 8, 2017--Move over bronze bull, there's a new statue drawing attention on Wall Street in time for International Women’s Day.
On Tuesday, New Yorkers and tourists in lower Manhattan found themselves staring at a bronze little girl, with hands on her hips, staring down her famed Bovine counterpart.
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Toroso ETF Prism Report: ETF Bubbles: Separating Fact From Fiction Long-term bubbles in corporate governance and environmental/social impact through proxy voting
view more Registered Investment Advisers Take Note: New SEC Custody Rule Guidance view more
Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
Source: Congressional Budget Office (CBO)
March 7, 2017-- With US markets at all-time highs, many investors wonder if the massive growth of ETFs are perpetuating a bubble.
Our quantitive research tools suggest ETFs are not currently creating a bubble in in broad based market indexes like the S&P 500. However, we do believe ETFs can cause two types of bubbles:
Short-term bubbles in sub-sectors or niches like REITs
Source: torosoam.com
March 7, 2017--Registered investment advisers should take note of recent pronouncements by the staff of the SEC's Division of Investment Management (the "Division") regarding Rule 206(4)-2 (the "Custody Rule") of the Investment Advisers Act of 1940.
The Division makes clear that many advisers may unwittingly have custody of client assets under the Custody Rule.
Source: Katten Muchin Rosenman LLP
