Americas ETP News
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IMF working paper-Demographic Changes in Latin America: The Good, the Bad and ...
April 13, 2017--The paper develops a simple, integrated methodology to project public pension cash flows and healthcare spending over the long term. We illustrate its features by applying it to the LAC5 (Argentina, Brazil, Chile, Colombia and Mexico), where public spending pressures are expected to increase significantly over 2015-50 due to demographic trends and rising healthcare costs.
We simulate alternative pension reforms, including the transition from a defined benefit to a defined contribution pension system and the fiscal burden of a minimum guaranteed pension under the latter. We also analyze public healthcare outlays in the LAC5, which is likewise expected to increase significantly over 2015-50 due to aging and the so-called excess cost growth factor of healthcare services, showing that curbing the evolution of the latter (e.g., through enhanced competition in the healthcare sector) could aid in containing spending pressures. Despite its simplicity, the methodology yields projections that compare well with other approaches. It therefore provides a good benchmark for assessing alternative reform scenarios, particularly in data-constrained countries.
view the IMF Working paper-Demographic Changes in Latin America: The Good, the Bad and ...
Source: IMF
Bats Welcomes New iShares Fund to Bats ETF Marketplace
April 13, 2017--Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded fund (ETF) trading globally, today welcomed a new iShares iBond fund to the Bats ETF Marketplace.
The iShares iBonds Dec 2023 Term Muni Bond ETF (Bats: IBML) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2022 and before December 2, 2023.
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Source: Bats Global Markets
SEC: Payments for Bullish Articles on Stocks Must Be Disclosed to Investors
April 10, 2017--The Securities and Exchange Commission today announced enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes that left investors with the impression they were reading independent, unbiased analyses on investing websites while writers were being secretly compensated for touting company stocks.
SEC investigations uncovered scenarios in which public companies hired promoters or communications firms to generate publicity for their stocks, and the firms subsequently hired writers to publish articles that did not publicly disclose the payments from the companies. The writers allegedly posted bullish articles about the companies on the internet under the guise of impartiality when in reality they were nothing more than paid advertisements.
view the SEC Investor Alert: Beware of Stock Recommendations on Investment Research Websites
Source: SEC.gov
Reality Shares DIVS ETF (DIVY) Attracts $50 Million in Assets
April 7, 2017--The Reality Shares DIVS ETF (NYSE Arca: DIVY), the flagship fund from exchange-traded fund issuer and research firm Reality Shares, crossed the $50 million in assets under management threshold, less than three years after its debut
Since its inception over two years ago, in addition to its historical low volatility and low correlation qualities to both equities and bonds, DIVY has exhibited a historically low standard deviation.
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Source: realityshares.com
US stock funds record biggest outflows in more than 18 months
April 7, 2017-- $14.5bn-Amount drained from US stock portfolios in week to April 5, 2017
Amount drained from US stock portfolios in week to April 5Shift toward Europe accelerates amid doubts over Trump's policy agenda
US stock funds experienced their largest withdrawals in more than 18 months and investors extended their rotation into cheaper valued European equities, according to the latest weekly flow data from EPFR.
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Source: FT.com
CBO-Monthly Budget Review for March 2017
April 7, 2017--The federal budget deficit was $522 billion for the first six months of fiscal year 2017, the Congressional Budget Office estimates-$63 billion more than the shortfall recorded during the same span last year.
But that result was affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, the deficit for the first six months of fiscal year 2017 would have been $61 billion larger than that recorded for the same period last year.
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Source: Congressional Budget Office (CBO)
ETFs Are the New Bond Kings
April 5, 2017--Exchange-traded funds are transforming debt markets as big investors use them in ways considered crazy a few short years ago.
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Source: Bloomberg
High times: second cannabis-focused ETF launched
April 5, 2017--Canadian firm Horizons ETF Management has today become the second company to launch a marijuana-focused exchange-traded fund.
The Horizons Medical Marijuana Life Sciences ETF (HMMJ) debuts on the Canadian National Stock Exchange and the Nasdaq index today and is designed to track the performance of the North American Medical Marijuana index.
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Source: citywireselector.com
Cowen Group to Buy Brokerage Firm Convergex for $116 Million
April 3, 2017--The Cowen Group said on Monday that it had agreed to acquire the brokerage firm Convergex Group as it looks to bolster its sales and trading business.
The New York financial services company said that it would pay $116 million in cash and stock to acquire Convergex from the private equity firm GTCR, Bank of New York Mellon and other investors.
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Source: NY Times
Nuveen Launches Enhanced Yield 1-5 Year U.S. Aggregate Bond ETF
April 3, 2017--ETF to Begin Trading Today on the NYSE Arca
Nuveen announced that the NuShares Enhanced Yield 1-5 Year U.S. Aggregate Bond ETF will begin trading today on the NYSE Arca under the symbol NUSA.
The ETF seeks to offer enhanced yield relative to the 1-5 year U.S. investment grade fixed income market with comparable risk and credit quality.
Positioned as a distinct alternative to short-term bond index funds weighted by issuance size, the ETF seeks to track the investment results, before fees and expenses, of the BofA Merrill Lynch Enhanced Yield 1-5 Year US Broad Bond Index, which uses a rules-based methodology to allocate higher weights to categories with higher yields without significantly increasing risk or decreasing credit quality
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Source: Nuveen
