Americas ETP News
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SEC Said to Propose That Mutual Funds Disclose Risk of Rate Rise
May 19, 2015--The U.S. Securities and Exchange Commission is set to propose a requirement that mutual-fund companies report how vulnerable their bond portfolios are to interest-rate changes, two people familiar with the matter said.
The proposal, which the five-member commission is scheduled to vote on Wednesday, is among the agency's first moves to address regulators' concerns that many bond funds could face steep losses if the Federal Reserve's first interest-rate hike in almost seven years forces them to sell assets quickly.
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Source: Bloomberg
Clearing houses are big risk, top U.S. federal researcher says
May 19, 2015--Clearing houses, whose role to guard financial stability was much expanded after the 2007-09 crisis, now pose threats themselves, the head of the top U.S. financial research agency told Reuters on Friday.
The Office of Financial Research has looked at these firms, which are for instance run by CME Group Inc. (CME.O), Deutsche Boerse's (DB1Gn.DE) Eurex, and Intercontinental Exchange Inc (ICE.N), to see where risk is building up.
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Source: Reuters
Nasdaq Lists Two AccuShares Spot CBOE VIX ETFs
May 19, 2015--Nasdaq today announced that AccuShares Investment Management LLC (AccuShares) will list two new exchange-traded funds (ETFs), AccuShares Spot CBOE VIX ETF Up Class Shares (symbol:VXUP) and Down Class Shares (symbol:VXDN), which will begin trading on The Nasdaq Stock Market on Tuesday, May 19, 2015.
The funds will track the CBOE Volatility Index (VIX).
"We are delighted to partner with Nasdaq as we launch our first funds for the ETF market," said Jack Fonss, Chief Executive Officer and Co-Founder of AccuShares.
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Source: NASDAQ.com
Hill, Carney Introduce Bipartisan Bill to Increase Consumer Access to Investment Information
May 18, 2015--This week, the House Committee on Financial Services will meet to markup H.R. 2356, the Fair Access to Investment Research Act, a bill introduced last week by Congressman French Hill (AR-02) and Congressman John Carney (DE-At Large).
H.R. 2536 would direct the Securities and Exchange Commission (SEC) to provide a safe harbor for research reports that cover Exchange Traded Funds (ETFs) so that the reports would not be considered "offers" under the Securities Act of 1933.
Over the past three decades, ETFs have grown from about 100 funds with $100 billion in assets to over 1300 funds with $1.8 trillion in assets. However, due to anomalies in the securities laws and regulations, most broker-dealers do not publish research on ETFs, despite their growth in popularity. H.R. 2356 would clarify the law to allow broker-dealers to publish research on ETFs and increasing access to investment information for consumers.
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Source:https://hill.house.gov/
Nuveen Commodity Funds Provide Update on Proposed ETF Conversion
May 18, 2015--Nuveen Long/Short Commodity Total Return Fund Announces Shareholder Approval of Conversion
Nuveen Diversified Commodity Fund Adjourns Annual Meeting to Permit Continued Solicitation of Votes.
Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors,today announced that shareholders of the Nuveen Long/Short Commodity Total Return Fund (NYSE MKT: CTF), have approved the plan to convert the fund into open-ended exchange-traded fund (ETF). The conversion plan is also contingent on customary regulatory approvals.
As previously announced, the purpose of the conversion is to seek a closer alignment between the fund's share price and net asset value.
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Source: Nuveen Investments
Nuveen Commodity Funds Provide Update on Proposed ETF Conversion
May 18, 2015--Nuveen Commodity Funds Provide Update on Proposed ETF Conversion
Nuveen Long/Short Commodity Total Return Fund Announces Shareholder Approval of Conversion
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Adjourns Annual Meeting to Permit Continued Solicitation of Votes
Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that shareholders of the Nuveen Long/Short Commodity Total Return Fund (NYSE MKT: CTF), have approved the plan to convert the fund into open-ended exchange-traded fund (ETF). The conversion plan is also contingent on customary regulatory approvals.
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Source: Reuters
Vanguard widens lead over rivals; BlackRock gains on Fidelity
May 18, 2015--Vanguard Group Inc. stretched its lead as the largest manager of U.S. defined contribution plan assets in Pensions & Investments' annual money manager survey.
Fidelity Investments remained in second, after losing the crown in 2013, but BlackRock (BLK) Inc. (BLK) is gaining on it.
AdvisorShares Weekly Market Update: Jobs Numbers, Yields, Active ETFs-We Have You Covered
May 15, 2015--For the week of May 4-May 8
Juuuuuuust Right
Macro
The non-farm jobs report was remarkably close to the consensus estimate. Last week we noted Barron's calling for
212,000 with the actual print coming at 223,000.
As the title of this post implies, on the surface it looks like a Goldilocks
number. Fed Governor Charles Evans talked during the week (before the report) and said that this number would need to be at least 200,,000 to even consider hiking rates this year.
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Source: AdvisorShares
Treasury International Capital Data for March
May 15, 2015--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for March 2015. The next release, which will report on data for April 2015, is scheduled for June 15, 2015.
The sum total in March of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $100.9 billion. Of this, net foreign private outflows were $90.5 billion, and net foreign official outflows were $10.4 billion.
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Source: US Department of the Treasury
First Trust Announces Changes to Investment Objectives for 11 AlphaDEX(R) ETFs
May 15, 2015--On or about July 14, 2015, each of the index exchange-traded funds listed below (each a "Fund") will seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of a NASDAQ AlphaDEX(R) Equity Index (each, a "New Index").
Each New Index is a modified equal-dollar weighted index developed and maintained by The NASDAQ OMX Group, Inc. ("NASDAQ") that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology.
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Source: First Trust Advisors L.P.
