Americas ETP News
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Exchange Traded Concepts to close Falah Russell-IdealRatings US Large Cap ETF
June 30, 2016--After careful consideration, the Board of Trustees of ETF Series Solutions has determined to close and liquidate the Falah Russell-IdealRatings U.S. Large Cap ETF (NYSE Arca: FIA) (the "Fund").
Exchange Traded Concepts, LLC ("ETC") serves as the investment adviser and Vident Investment Advisory, LLC ("Vident") serves as the sub-adviser to the Fund.
Wilshire Funds Management Assumes Portfolio Management of the AdvisorShares Wilshire Buyback ETF (TTFS)
June 30, 2016--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that Santa Monica, California-based Wilshire Associates will assume sub-advisor responsibilities of the AdvisorShares Wilshire Buyback ETF (NYSE Arca: TTFS) on Friday, July 1, 2016.
Josh Emanuel, CFA, chief investment officer and managing director of Wilshire Funds Management, Wilshire's global investment management business unit that advises on approximately $150 billion, will serve as lead portfolio manager of TTFS. The fund's total expense ratio will also decrease to 0.90%, a 10% reduction.
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Source: AdvisorShares
Horizons ETFs Announces Closure of Certain ETFs
June 29, 2016-Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating certain exchange traded funds ("ETFs") effective at the close of business on or about Friday, September 9, 2016 (the "Termination Date").
The classes of the ETFs being terminated (collectively, "Terminated ETFs") are as follows:
HUT, HUT.A-Horizons Cdn Equity Managed Risk ETF
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Source: Horizons
CBO-The 2016 Budget Outlook
June 29, 2016--In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office's estimates.
If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
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Source: Congressional Budget Office (CBO)
AccuShares Introduces New ETF for Investing in Oil
June 28, 2016--OILU and OILD Offer Lowest Annual Expense Ratio of Any Crude Oil Exchange-Traded Product (0.29 Percent) and No K-1's
New Fund Addresses Issues With Existing Oil ETFs, Including Daily Rebalancing, Cost of Using Futures and Derivatives in a Portfolio, Transparency
AccuShares, an innovative sponsor of exchange-traded products, is introducing a new exchange-traded fund (ETF) designed to provide a better way for investors to capture the up and down opportunities in crude oil pricing and market volatility.
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Source: AccuShares
SEC Proposes Rule Requiring Investment Advisers to Adopt Business Continuity and Transition Plans
June 28, 2016--The Securities and Exchange Commission today proposed a new rule that would require registered investment advisers to adopt and implement written business continuity and transition plans.
The proposed rule is designed to ensure that investment advisers have plans in place to address operational and other risks related to a significant disruption in the adviser's operations in order to minimize client and investor harm.
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Source: SEC.gov
AccuShares Introduces New ETF For Investing in Oil
June 28, 2016--OILU and OILD offer lowest annual expense ratio
of any crude oil exchange-traded product (0.29 percent) and no K-1's
New fund addresses issues with existing oil ETFs, including daily rebalancing, cost of using futures and derivatives in a portfolio, transparency
AccuShares, an innovative sponsor of exchange-traded products, is introducing a new exchange-traded fund (ETF) designed to provide a better way for investors to capture the up and down opportunities in crude oil pricing and market volatility.
view more
Source: AccuShares
IMF Working paper-Income Polarization in the United States
June 28, 2016--Summary: The paper uses a combination of micro-level datasets to document the rise of income polarization-what some have referred to as the "hollowing out" of the income distribution-in the United States, since the 1970s.
While in the initial decades more middle-income households moved up, rather than down, the income ladder, since the turn of the current century, most of polarization has been towards lower incomes. This result is striking and in contrast with findings of other recent contributions. In addition, the paper finds evidence that, after conditioning on income and household characteristics, the marginal propensity to consume from permanent changes in income has somewhat fallen in recent years. We assess the potential impacts of these trends on private consumption. During 1998-2013, the rise in income polarization and lower marginal propensity to consume have suppressed the level of real consumption at the aggregate level, by about 3½ percent-equivalent to more than one year of consumption.
June 28, 2016--Fidelity Investments(R), one of the industry's largest, most experienced providers of low-cost active and index investment products, today announced that effective July 1, 2016 it will reduce total expenses1 on 27 of its equity and bond index mutual funds and exchange traded funds (ETFs). view more
The average expenses across Fidelity's index fund line-up will decrease to 10.2 basis points (0.102%), down from 11.6 basis points today. The expense reductions are expected to save current shareholders approximately $20 million annually.
Source: Fidelity Investments
