Americas ETP News
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Fees on Mutual Funds and ETFs Tumble Toward Zero
'Loss leaders' boost returns for investors but come with new risks;gasps at Goldman Sachs
January 26, 2016--In November, asset manager, BlackRock Inc. said it would slash by more than 50% the annual expenses charged to investors in an exchange-traded fund that aims to mimic the performance of the entire U.S. stock market.
By the end of the day, executives at rival Charles Schwab Corp. had matched the price cut. In December, Vanguard Group announced fee cuts of as much as 25% at dozens of its funds.
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Source: Wall Stret Journal
Guggenheim Russell 1000(R) Equal Weight ETF Completes Merger with Guggenheim S&P 500(R) Equal Weight ETF
January 26, 2016--Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today announced the successfully completed
merger of Guggenheim Russell 1000(R)Equal Weight ETF (EWRI) into Guggenheim S&P 500(R)Equal Weight ETF (RSP).
In connection with the merger, shareholders of EWRI will receive 0.61652528 shares of RSP for each share
of EWRI held, plus a cash amount to be determined.
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Source: Guggenheim Investments
Silver Bullion Trust Unitholders Approve ETF Conversion With Purpose Investments and Enhanced Redemption Features
January 26, 2016--Silver Bullion Trust ("SBT" or the "Trust") (TSX:SBT.UN) (C$) and (TSX:SBT.U)(US$) today announced that SBT Unitholders voted to approve amendments to SBT's Amended and Restated Declaration of Trust dated July 9, 2009 (the "DOT"), in order to permit its conversion from a closed-end fund to a silver-bullion exchange traded fund
(the "ETF Conversion") at a special meeting of Unitholders held earlier today in Toronto.
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Source: Purpose Investments Inc.
First NextSharesTM Fund to List and Trade on NASDAQ Stock Market LLC in February
January 25, 2016--Eaton Vance Corp. (Eaton Vance) and Nasdaq, Inc. (Nasdaq) today announced that the first NextSharesTM exchangetraded
managed fund, Eaton Vance Stock NextShares (Nasdaq: EVSTC) (the
Fund), will list and begin trading on the NASDAQ Stock Market LLC on Friday, February 26, 2016.
Individual investors, financial advisors and institutions may
purchase and sell shares of the Fund through Folio Investing(R) and Folio
Institutional(R), leading online broker-dealers, beginning on Monday, February 29, 2016.
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Source: NextSharesTM
OppenheimerFunds Enters Smart Beta Space with Factor Weighted ETFs
January 25, 2016--OppenheimerFunds, a leading global asset manager, entered the fast-growing smart beta space and is now offering Oppenheimer Factor Weighted ETFs.
The products and solutions offer a unique approach for clients looking to access the ETF market. By weighting each security in the index on the basis of top line revenue, the Factor Weighted Strategies offer the possibility to reduce overexposure to potentially overpriced sectors and stocks while still providing diversification across every security in an index.
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Source: Oppenheimer Funds
RBC Global Asset Management introduces four new ETFs
January 25, 2016--Global Dividend and Global Equity ETFs offer diversified equity portfolios designed to take advantage of global opportunities and manage risk
Emerging Markets Equity ETF provides investors with greater diversification and access to rapidly growing countries
1-5 Year Laddered Canadian Bond ETF adds to high-quality suite of fixed income ETFs
RBC Global Asset Management Inc. (RBC GAM Inc.) today announced the launch of four new Exchange Traded Funds (ETFs). All four begin trading on the Toronto Stock Exchange today.
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Source: RBC Global Asset Management
ETF Securities Commodity ETP Weekly-Commodities end volatile week
January 25, 2016--After a violent crash in cyclical commodities and other risk assets, prices started to recover in the second half of the week.
In contrast to the futures market, ETP investors have been contrarian and have built long positions, particularly in oil.
Market malaise has maintained strong interest in gold as a haven asset.
Inflows into oil ETPs reach highest level since March 2015 as investors bet
on unsustainably low prices. By Wednesday last week, WTI and Brent were down 28.3% and 25.2% YTD respectively. Such low prices were clearly unsustainable and investors bought US$97.0mn of long oil ETPs and divested US$26.6mn of short oil ETPs to take advantage of a rebound.
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Source: ETF Securities
Legg Mason Inks Three Deals in Bid to Diversify Revenue Stream
Legg Mason executives raced to complete three transactions ahead of an investor day Friday
January 22, 2016--Legg Mason Inc. signed three new deals in a continuing bid to bolster its stable of money-management businesses.
Following an introduction last year from influential shareholder Nelson Peltz, the Baltimore-based firm said it is merging EnTrust Capital, a firm based in New York that invests clients' money in hedge funds, with its existing fund-of-hedge-funds business, Permal Group.
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Source: Wall Street Journal
Latin America and the Caribbean in 2016: Adjusting to a Harsher Reality
January 22, 2016--It's been a rough start to 2016, as seen by the recent bouts of financial volatility, stemming from uncertainties related to the slowdown in China, lower commodity prices, and divergent monetary policy in advanced economies.
The global recovery continues to struggle to gain its footing, with strains in some large emerging market economies weighing on growth prospects.
For Latin America and the Caribbean, growth in 2016 is now expected to be negative for the second consecutive year-the first time since the debt crisis of 1982-83, which triggered the "lost decade" for the region.
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Source: IMF
Legg Mason Acquires Stake in Precidian Investments, Upping Ante in Battle for Hybrid Funds
January 22, 2016--Asset managers' dogfight over a new breed of ETF-hybrid funds intensified Friday after Legg Mason (LM) announced that it had acquired a minority stake in Precidian Investments.
Precidian is seeking regulatory approval for a fund structure that would allow stockpickers to shield holdings from daily public viewing and investors to buy or sell intraday, like an exchange-traded fund. The Precidian model would compete directly with Eaton Vance's (EV) "exchange-traded managed funds," the first of which are slated to launch early this year.
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Source: Barron's
