Americas ETP News
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CFTC.gov Commitments of Traders Reports Update
June 5, 2015--The current reports for the week of June 2, 2015 are now available.
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Source: CFTC.gov
UPDATE 1-SEC probing whether activist investors secretly acted jointly-source
June 5, 2015--The U.S. Securities and Exchange Commission is investigating whether some activist investors secretly acted jointly to target companies, one hedge fund industry source said.
The SEC's enforcement division recently opened multiple investigations and sent requests for information to a number of hedge funds, The Wall Street Journal reported earlier, citing people familiar with the matter.
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Source: Reuters
Tough Choices as Well as Opportunities for Latin America
June 5, 2015--Growth continues to slow in Latin America, modest recovery expected in 2016
Conference examines key issues confronting the region and policy priorities
Region should focus on policies that promote productivity and investment
Despite the challenges posed by the ongoing economic slowdown in Latin America, the current difficulties may also open up new opportunities for tackling deep-seated problems, participants said at a conference on Latin America.
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Source: IMF
Active Share Will Become Key Metric For Investors And Distributors: Credit Suisse
June 4, 2015--Active share will become an increasingly important metric for investors/distributors, which can advantageously be used to select which funds fit into the riskier allocation sleeves of portfolios/shelves, notes Credit Suisse Group AG.
Craig Siegenthaler and team at Credit Suisse Equity Research in their June 3, 2015 research note "US Asset Managers" points out active managers will need to decide how they can evolve to compete against the advantages of the ETF structure versus open-end mutual funds.
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Source: ValueWalk
Pershing taps Marstone partnership to debut first adviser-focused robo
The platform, which can be white-labeled for advisers, powers risk profiling, account opening and digital advice, and allows advisers to input their own portfolio models
June 4, 2015--Pershing has launched a new robo-adviser with Marstone, a newly-minted online investment and financial-planning technology platform for advisers to use with their clients.
The custody and clearing firm, a subsidiary of BNY Mellon, said Marstone will be a white-labeled platform for advisers, who can customize it.
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Source: Investment News
BATS Exchange Welcomes the iShares Convertible Bond ETF
New ETF Begins Trading Today on BATS Exchange Under Symbol ICVT
June 4, 2015--BATS Global Markets (BATS), the leading U.S. market for the trading of exchange-traded funds (ETFs), welcomes the iShares Convertible Bond ETF (BATS: ICVT), an indexed bond ETF, which begins trading today on BATS Exchange.
The underlying index for the iShares Convertible Bond ETF is a subset of the Barclays U.S. Convertibles: Cash Pay Bonds Index, which is one of four classes of the Barclays U.S. Convertibles Index and measures the performance of the U.S. dollar-denominated convertibles market. The underlying index is market capitalization-weighted and consists of only cash pay convertible bonds. More information is available on the iShares website.
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Source: BATS Global Markets
AdvisorShares Active ETF Report; Plus an AlphaCall with Philippe Cousteau
June 4, 2015--While no new actively managed ETFs launched in May, total net assets increased by $294 million, or 1.47%.
Growth over the trailing 12 months has been $4.04 billion, or 24.9%.
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Source: AdvisorShares
New E.T.F.s Appeal to Those With Bigger Appetites for Risk
June 4, 2015--Imagine a fund that offers exposure to the strategies of the world's sharpest hedge fund investors.
Or one that tracks the steady dividends paid by companies like Apple, instead of their more volatile shares.
In stodgy mutual fund land, these are distant thoughts at best.
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Source: New York Times
2015 Article IV Consultation with the United States of America-Concluding Statement of the IMF Mission
June 4, 2015--The 2015 U.S. Article IV Consultation was focused on the prospects for higher policy rates and the outlook for, and policy response to, financial stability risks. In this, the work of the mission integrated the findings of the IMF's latest Financial Sector Assessment Program for the U.S. The main policy messages were:
The underpinnings for continued growth and job creation remain in place. However, momentum was sapped in recent months by a series of negative shocks.
The FOMC should remain data dependent and defer its first increase in policy rates until there are greater signs of wage or price inflation than are currently evident. Based on the mission's macroeconomic forecast, and barring upside surprises to growth and inflation, this would put lift-off into the first half of 2016.
Pockets of financial stability risks are emerging, putting a premium on improving the resilience of the financial system. Regulatory reforms remain incomplete and the structure of oversight has scope to be strengthened along a number of dimensions.
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Source: IMF
CBO-Monthly Budget Review for May 2015
June 4, 2015--The federal government ran a budget deficit of $368 billion for the first eight months of fiscal year 2015, CBO estimates.
The federal government ran a budget deficit of $368 billion for the first eight months of fiscal year 2015, CBO estimates. That deficit was $68 billion smaller than the one recorded during the same period last year. Revenues and outlays were both higher than the amounts recorded during the same period in fiscal year 2014-by 9 percent and 4 percent, respectively. If not for shifts in the timing of certain payments (which otherwise would have fallen on a weekend), the deficit for the eight-month period would have been $33 billion less this year than it was in fiscal year 2014.
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Source: Congressional Budget Office (CBO)
