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Invesco PowerShares and FTSE Russell Expand Smart Beta Relationship with Complete Pure Style Portfolios
May 26, 2015--Six ETFs based on the Russell Pure Style Methodology Enable Index-Based Investors to Take Style Investing to Another Level
Include only stocks with pure growth and pure value characteristics
Eliminates overlap inherent in traditional methodology
Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), expanded its relationship with six Pure Style ETFs that are open for trading on the NYSE Arca. The six ETFs are based on the Russell Pure Style Indexes, a new series of smart beta indexes introduced by FTSE Russell to build on its signature growth and value indexes.
The PowerShares Russell Pure Style Portfolios provide investors who are seeking more control over style exposures in their portfolio with an optimum balance between growth and value segments within large-,mid-,and small--cap companies.
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Source: Invesco PowerShares Capital Management LLC
Direxion Asset Management Closing 3X Leveraged Gold ETF
May 26, 2015--The Direxion Shares ETF Trust II has decided to liquidate and close the Direxion Daily Gold Bull 3X Shares (Ticker: BAR) exchange-traded fund ("the Fund") based on the recommendation of Direxion Asset Management, LLC ("Direxion"), the Fund's Sponsor.
Due to the Fund's inability to attract sufficient investment assets, Direxion believes the Fund cannot continue to conduct its business and operations in an economically efficient manner. As a result, Direxion concluded that liquidating and closing the Fund would be in the best interests of the Fund and its shareholders.
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Source: Direxion
Listed Options Available for the U.S. Global Jets ETF
May 26, 2015--Listed options are now available to market participants on the U.S. Global Jets ETF (NYSE: JETS), the only global airline industry ETF on the market.
Using options tied to JETS, investors have additional opportunities to gain exposure to the airline industry with a smaller capital requirement.
Numerous options strategies can be utilized to gain access to the airline industry such as:
covered call writing
entering into call spreads
buying puts
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Source: U.S. Global Investors, Inc.
Morningstar doubles down on expense ratio disparity debate
Fund tracker is at odds with SEC on how some fund report expenses
May 26, 2015--The puzzling riddle of expense ratios for many liquid alternative mutual funds is not going away, as illustrated by last week's detailed post by Josh Charlson, director of manager research for alternative strategies at Morningstar Inc.
For financial advisers, trying to answer the riddle often means another layer of research on certain liquid alt strategies, or potentially screening out funds that might otherwise make the cut.
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Source: Investment News
Fed's massive bond portfolio has market participants anxious
May 26, 2015--Asset managers are concerned about how the Federal Reserve will dispose of $4 trillion in bonds
it has accumulated through quantitative easing.
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Source: SmartBrief
Blackrock Now #79 Largest Company, Surpassing Lockheed Martin
May 26, 2015--In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Blackrock Incorporated (NYSE: BLK) has taken over the #79 spot from Lockheed Martin Corp. (NYSE: LMT), according to The Online Investor.
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Source: Forbes
Deutsche Bank fined for misstating value of derivatives
May 26, 2015--The Securities and Exchange Commission said on Tuesday that Deutsche Bank made material misstatements about a giant derivatives portfolio, inflating its value at the height of the financial crisis*
The bank failed to account for a "material risk for potential losses estimated to be in the billions of dollars", the SEC said.
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Source: FT.com
Brazil economy to contract nearly one-quarter this year in dollar terms
May 25, 2015--Brazil's economy is expected to contract by nearly one-quarter this year in dollar terms due to a depreciating currency and a deepening recession, according to government figures.
Brazil's planning ministry revealed in a budget presentation that gross domestic product was expected to be $1,812bn this year, down 23 per cent from $2,353bn a year earlier, as President Dilma Rousseff tries to unwind a multiyear stimulus programme that has left government finances bleeding red.
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Source: FT.com
TOTL Hits $500 Million in AUM
May 25, 2015--Long-term bond investment had an impressive 2014 to the supremacy of risk-off trade sentiments in the wake of global growth concerns.
On the other hand, short-term bonds gave a rather tepid show last year on speculations that the Fed would hike interest rates soon.
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Source: NASDAQ.com
First Asset Canadian REIT Income Fund Announces Meeting to Approve Conversion to ETF
May 25, 2015--First Asset Canadian REIT Income Fund (the "Fund") (TSX: RIT.UN) announces that a special meeting of unitholders will be held on Friday, June 19, 2015.
If required, an adjourned meeting will be held on Tuesday, June 30, 2015.
At the meeting, unitholders will be asked to approve the conversion of the Fund from a closed-end fund to an exchange traded fund, including changes to the Fund's investment objectives, strategies and restrictions and certain other provisions contained in the Fund's declaration of trust related to the conversion.
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Source: First Asset
