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Puerto Rico Power Company Rejects Bondholders' Debt Plan
July 23, 2015--Puerto Rico's power company on Thursday rejected a new proposal from bondholders that calls for an $8.1 billion debt exchange amid growing concerns the public agency could be the first one in the U.S. territory to go bankrupt.
The Electric Power Authority said the proposal would not lead to a successful restructuring and does not share the burden of its more than $9 billion debt.
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Source: ABCnews.com
IndexIQ Launches World's First Suite of 50% Currency-Hedged ETFs
July 22, 2015--International-,Europe-and Japan-focused funds are the first currency-neutral ETF offerings that allow investors to better manage currency fluctuation risk
First ever partnership between IndexIQ and FTSE represents next generation of currency-hedged equity exposure and new set of solutions for investors, advisors and institutions
IndexIQ, a leading developer of innovative ETF solutions, in partnership with MainStay Investments, a New York Life Company, today announced the launch of three first-of-their-kind ETFs: IQ 50 Percent Hedged FTSE International ETF (NYSE Arca: HFXI), IQ 50 Percent Hedged FTSE Europe ETF (NYSE Arca: HFXE), and IQ 50 Percent Hedged FTSE Japan ETF (NYSE Arca: HFXJ). U.S. Securities and Exchange Commission Approves Listing and Trading of 18 Eaton Vance NextShares(TM) Funds on The NASDAQ Stock Market LLC view more Ivy Funds joins NextShares in plan view more WisdomTree Launches Strong Dollar U.S. Equity Fund (USSD) and Weak Dollar U.S. Equity Fund (USWD) view more First Asset Canadian REIT ETF: Advisor Units Now Available (TSX: RIT.A) view more
BlackRock Isn't 'Dangerous' And ETF Liquidity Isn't Free view more
Treasury International Capital Data for May
Foreign residents increased their holdings of long-term U.S. securities in May; net purchases were $77.8 billion. Net purchases by private foreign investors were $74.2 billion, while net purchases by foreign official institutions were $3.7 billion. view more ISE ETF Ventures Launches Two New Indexes "We are proud to expand our successful partnership with PureFunds and make these emerging technology sectors more accessible for investors," said Kris Monaco, Head of ISE ETF Ventures. "Companies at the forefront of electronic and mobile payments and big data are leaders in technological innovation and disruption, and these two indexes will offer an insightful view into how these growing sectors continue to develop." view more Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for June 2015 view more
Source: IndexIQ
July 22, 2015,--Eaton Vance Management (Eaton Vance), a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that the U.S. Securities and Exchange Commission (SEC) has approved the request by the NASDAQ Stock Market LLC (Nasdaq)
to adopt a new rule governing the listing and trading of shares of the following Eaton Vance NextShares(TM)funds
Source: Eaton Vance Corp.
July 21, 2015--Ivy Investment Management Company, a subsidiary of Waddell & Reed Financial, Inc. (NYSE: WDR) has entered into a preliminary agreement with Navigate Fund Solutions LLC (Navigate), a subsidiary of Eaton Vance Corp. (NYSE: EV), to support the launch by Ivy Funds of a family of NextShares(TM) exchange-traded managed funds.
"Adapting to evolutions in the product landscape has always been one of Ivy's priorities, as we seek to deliver our investment products in structures that the marketplace may desire," said Thomas W. Butch, president and CEO of Ivy Funds Distributor, Inc., and executive vice president of Ivy's parent firm Waddell & Reed Financial, Inc.
Source: Ivy Funds
New Strategies to Access Domestic Equities Based on View of U.S. Dollar's Direction
July 21, 2015--WisdomTree an exchange-traded product sponsor and asset manager, today announced the launch of the WisdomTree Strong Dollar U.S. Equity Fund (USSD) and WisdomTree Weak Dollar U.S. Equity Fund (USWD) on the NYSE Arca.
USSD seeks to minimize exposure to companies with significant revenue from exports that are vulnerable to a strengthening U.S. dollar. USWD seeks to maximize exposure to companies with significant revenue from exports that may benefit from a weakening U.S. dollar. USSD and USWD each has an expense ratio of 0.33%.
Source: MarketWatch
July 21, 2015--First Asset Canadian REIT ETF (the "First Asset ETF")(TSX: RIT; RIT.A) today announces that it has completed the initial offering of its advisor units (the "Advisor Units") pursuant to a final prospectus dated July 10, 2015,
filed with the securities regulatory authorities of all of the Canadian provinces and territories in connection with the conversion of the First Asset ETF from a closed-end fund to an exchange traded fund.
Source: First Asset
July 16, 2015--Carl Icahn on Wednesday joined the ranks of famous investors warning about exchange-traded funds
Actually, Icahn went further, calling BlackRock (BLK), the world's largest ETF provider, a "dangerous" company that foists high-yield bond ETFs on investors that don't understand their risks
Source: Barron's
July 16, 2015--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for May 2015. The next release, which will report on data for June 2015, is scheduled for August 17, 2015.
The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $115.0 billion. Of this, net foreign private inflows were $120.8 billion, and net foreign official outflows were $5.9 billion.
Source: US Department of the Treasury
PUREFUNDS(R) ETFs BASED ON INDEXES TO BEGIN TRADING TODAY
July 16, 2015--ISE ETF Ventures today announced the launch of the ISE Mobile Payments(TM) Index (index ticker: IPY) and the ISE Big Data(TM) Index (index ticker: BGD).
These indexes are licensed to PureFunds(R) for the creation of two exchange-traded funds (ETFs), which begin trading today on NYSE Arca.
Source: ISE
July 16, 2015--Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for June 2015.
In terms of combined active and passive flows, five out of eight category groups suffered outflows in June. Among actively managed funds, international equity and alternative were the only category groups to see inflows during the month. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Source: Morningstar
