Americas ETP News
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BlackRock set to launch first 'smart beta' bond fund
February 23, 2015--BlackRock Inc is planning to launch its first so-called "smart beta" bond fund that will adjust the holdings of a traditional bond index to achieve an equal balance of credit and interest rate risk.
The fund, which is set to launch on Thursday, arrives at a time when the market for smart beta funds, or those that use factors other than market capitalization to weight their holdings, has been rapidly expanding in the equity space but is still in nascent stages for the fixed-income market.
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Source: Reuters
Obama calls for higher standards on brokers giving retirement advice
February 23, 2015--President Obama called on the Department of Labor to crack down on the "backdoor payments" and "hidden fees" paid to brokers giving retirement advice.
The president endorsed a new rule proposed by the Labor Department on Monday that would increase the standards for brokers who recommend investments for retirement accounts, requiring brokers to have the client's best interests in mind.
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Source: Washington Post
U.S. commissioner calls for more rigorous review of risky ETFs
February 23, 2015--A top member of a U.S. securities regulator on Monday called for a more transparent and rigorous review process before approving rule changes to list riskier exchange-traded funds that she believes could harm retail investors.
Securities and Exchange Commission Democratic member Kara Stein called for the reforms as part of a three-page dissent over a rule change that paved the way for seven new exchange-traded funds from AccuShares Investment Management LLC to list on the Nasdaq stock market exchange.
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Source: Reuters
FACT SHEET: Middle Class Economics: Strengthening Retirement Security by Cracking Down on Backdoor Payments and Hidden Fees
February 23, 2015--Middle class economics means that Americans should be able to retire with dignity after a lifetime of hard work. But today, the rules of the road do not ensure that financial advisers act in the best interest of their clients when they give retirement investment advice, and it's hurting millions of working and middle class families.
A system where Wall Street firms benefit from backdoor payments and hidden fees if they talk responsible Americans into buying bad retirement investments-with high costs and low returns-instead of recommending quality investments isn't fair. These conflicts of interest are costing middle class families and individuals billions of dollars every year. On average, they result in annual losses of 1 percentage point for affected investors. To demonstrate how small differences can add up: A 1 percentage point lower return could reduce your savings by more than a quarter over 35 years. In other words, instead of a $10,000 retirement investment growing to more than $38,000 over that period after adjusting for inflation, it would be just over $27,500.
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Source: White House
Big money managers warming to ETFs
February 20, 2015--The growth of exchange-traded funds in Canada has been slow but steady over the past few years, but budding new relationships between so-called ETF strategists that build portfolios and some of the country's biggest investment sales platforms could accelerate their adoption.
There are now 22 managers offering 46 ETF portfolios with a combined total of more than $10 billion in assets under management, according to iShares Connect program in Canada, a database of ETF investment strategists doing business in the country.
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Source: Financial Post
First Trust to Cross-List the First Trust Dorsey Wright Focus 5 ETF in Mexico
An index-tracking ETF based on Dorsey Wright's systematic momentum strategy for sector rotation using their relative strength ranking system
February 20, 2015--First Trust Advisors L.P. ("First Trust") a global ETF provider and asset manager, announced that it has cross listed the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: FV) on the Mexican stock exchange, Bolsa Mexicana de Valores (BMV).
The fund seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Dorsey Wright Focus Five Index (the "index").
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Source: First Trust Advisors
Questrade launches its own lineup of exchange-traded funds
February 20, 2015--A new exchange-traded fund provider has emerged in Canada, with Questrade Wealth Management launching six new ETFs that will include exposure to the technology and health-care sectors.
It is the first time Questrade, which is widely known for its discount brokerage platform, has launched its own product offering, to be known as Questrade Smart ETFs. The company also expanded into the robo-advisery business last November with a new online portfolio manager platform, Portfolio IQ.
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Source: The Globe and Mail
Mutual fund dealers may soon be able to more easily sell ETFs
February 20, 2015--The Mutual Fund Dealers Association (MFDA) is looking to develop proficiency standards for trading in exchange-traded funds, a move that could make ETFs accessible to more investors.
Currently, mutual fund licensed representatives can trade in exchange-traded funds that meet the definition of a mutual fund under securities legislation. This includes the majority of ETFs in the marketplace.
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Source: The Globe and Mail
GreenHaven Funds Announces Launch of "TONS," the First Coal Exchange Traded Product
February 20, 2015--GreenHaven announced today the launch of the GreenHaven Coal Fund (NYSE-ARCA: TONS), the first Exchange Traded Product ("ETP") designed to offer investors with exposure to daily changes in the price of coal futures contracts.
The Fund's prospectus and information about the Fund can be found at www.greenhavenfunds.com.
"As the first single-commodity coal ETP, TONS offers investors access to a global market that before now has generally been accessible only to institutions and traditional coal companies" said Cooper Anderson, Chief Financial Officer of GreenHaven Coal Services, LLC, the Fund's sponsor.
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Source: GreenHaven
CFTC.gov Commitments of Traders Reports Update
February 20, 2015--The current reports for the week of February 17, 2015 are now available.
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Source: CFTC.gov
