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Fidelity posts record profits for 2014
February 12, 2015--Fidelity Investments reported record profits for 2014, despite net outflows of $6bn, as one of the world's largest active fund managers lost market share to index trackers and niche rivals.
The US group said on Thursday that operating profits rose 29 per cent to $3.4bn, while revenues increased 9 per cent to $14.9bn. But it suffered big outflows as investors switched money into passively run funds.
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Source: FT.com
AdvisorShares Weekly Market Update: Strong Jobs & Volatile Energy; What Does It Mean?
February 12, 2015--For the week of February 2-February 6
Macro
The January jobs report came in at a strong 257,000 with the headline unemployment rate ticking up to 5.7%.
The unemployment rate went up because of the slight increase in the labor force participation rate to 62.9%. The broader U6 measure of unemployment printed at 11.3% which was a slight uptick from last month's 11.2%. There was also underlying strength in the report from average hourly earnings
which increased 0.5% although this may be attributable to an increased minimum wages is nine states. The November jobs
report was revised up to a gain of 423,000 jobs and December was revised up to 329,000.
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Source: AdvisorShares
OFR-Systemic Importance Indicators for 33 U.S. Bank Holding Companies: An Overview of Recent Data
February 12, 2015--The Basel Committee on Banking Supervision, a group of banking supervisors from 28 jurisdictions, in 2011 created a set of 12 financial indicators to identify global systemically important banks (G-SIBs).
These are banks whose failure could pose a threat to the international financial system.1 The most recent list identified 30 banks across the world as G-SIBs, including eight U.S. bank holding companies.
A bank designated as a G-SIB must meet a higher risk-based capital ratio to enhance its resilience, and is subject to additional regulatory oversight.
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Source: OFR (Office of Financial Research)
BMO Asset Management Inc. Launches U.S. Dollar Unit Version of BMO US High Dividend Covered Call ETF
February 12, 2015--BMO Asset Management Inc. (BMO AM) today launched a new class of U.S. dollar units (the "USD Units") of BMO US High Dividend Covered Call ETF (ZWH.U), making it more convenient for Canadians who want to use U.S. dollars to invest.
BMO AM is a leading provider of ETFs listed in U.S. dollars in Canada. The addition of ZWH.U to BMO ETFs' lineup expands the number of BMO ETFs that offer USD Units to five:
BMO US High Dividend Covered Call ETF (ZWH.U) BMO S&P 500 Index ETF (ZSP.U)
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Source: BMO Financial Group
WisdomTree on US sales hiring spree
February 11, 2015--WisdomTree is plotting a major expansion of its US sales force, including hiring a dedicated head of sales,
in order to capitalise on what it calls the "tremendous opportunities" in the $2tn exchange traded fund market.
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Source: FT.com
Invesco PowerShares Adds Five ETFs to Schwab OneSource(TM)
Leading Global ETF Provider Adds Five Products to Line-up Bringing Total Offerings Within Commission-Free Program to 24
February 10, 2015--Invesco PowerShares Capital Management, LLC ("PowerShares"), a leading global provider of exchange-traded funds (ETFs)
announced today that it has expanded its offerings on Schwab ETF OneSource(TM), the program that provides investors and advisors with access to the most commission-free ETFs in the industry1. As of February 1, 2015, Schwab clients can now buy and sell 24 PowerShares ETFs, with $0 online commissions.
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Source: Invesco PowerShares Capital Management
Bond Trading Needs a More Thorough Review, SEC Official Says
February 10, 2015--Large investors including BlackRock Inc. have criticized the structure of the U.S. bond market in recent years. Even the market's regulator says trading needs to be reviewed better.
"We spend a lot of time on equities, when there is a greater amount of efficiency," Stephen Luparello, the Securities and Exchange Commission’s director of trading and markets, said Tuesday at a Investment Company Institute conference in New York. "We spend less time on fixed income, when there is a greater amount of inefficiency."
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Source: Bloomberg
First Asset Launches Smart Balanced Portfolio Solution
February 10, 2015--First Asset Investment Management Inc. is pleased to announce the launch of First Asset Core Balanced ETF (TSX:CBB), a low-cost balanced ETF portfolio solution.
Investing in primarily Canadian issuers, First Asset Core Balanced ETF`s investment objective is to seek to provide holders of its units with a balance between long term capital appreciation and consistent income while diversifying risk by investing the portfolio to gain exposure to equity and fixed income securities.
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Source: First Asset
First Asset Energy Giants Covered Call ETF: Combining the Largest Energy Producers in the World with Higher Cash Flow
February 10, 2015--First Asset Investment Management Inc. is pleased to announce the launch of First Asset Energy Giants Covered Call ETF (TMX: NXF).
NXF invests on an equal weight basis in a portfolio of equity securities of the 15 largest non-Canadian oil and gas exploration and production companies measured by $USD market capitalization with common stock or ADRs listed on a Canadian or U.S. stock exchange, and employs a covered call option writing program on approximately, and not more than, 25% of the securities of each portfolio issuer.
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Source: First Asset
Wall Street Says Fed Rule Hampers Efforts to Shrink Big Banks
February 9, 2015--Big U.S. banks have a big, overarching concern with a new capital rule proposed by the Federal Reserve: Uncertainty.
The proposed rule would hit the eight biggest U.S. banks with an extra capital requirement, scaled to each bank’s relative riskiness, as measured by a series of complex calculations.
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Source: Wall Street Journal
