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SEI Report: ETF Business Opportunities Are Rapidly Expanding As A New Generation Of Funds Emerge
Rise of Active ETFs Is Among Trends Shaping and Fueling "ETF 2.0"
January 26, 2015--Twenty years after their introduction in the investment industry, Exchange Traded Funds (ETFs) are evolving and gaining momentum more rapidly than in the past, according to the report "ETF 2.0: Six Trends Shaping the Next Generation," released today by SEI (NASDAQ:SEIC).
The report identifies six trends that could help push ETF assets to a projected $5 trillion by 2020. According to ETF.com, U.S.-listed ETF assets reached a record $2 trillion at the end of 2014 with record annual inflows of $244 billion. Flows to European ETFs also hit a new peak, rising to $61.4 billion for the year, more than three times the 2013 total.
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Source: SEI
Virtus Investment Partners to Acquire Majority Interest In ETF Issuer Solutions
January 26, 2015--Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, today announced an agreement to acquire a majority interest in ETF Issuer Solutions (ETFis), a New York City-based company that operates a platform for listing, operating, and distributing exchange-traded funds.
The transaction will provide Virtus with manufacturing capabilities for both active and passive ETFs, adding to its broad product line-up.
ETFis, founded in 2012, recently introduced the industry's first actively managed ETF investing exclusively in master limited partnerships, the InfraCap MLP ETF (NYSE: AMZA)1. It currently manages two other ETFs and has seven additional ETFs in registration with the Securities and Exchange Commission. All of the company's ETFs are managed by external subadvisers.
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Source: ETF Issuer Solutions Inc.
CBO-The Budget and Economic Outlook: 2015 to 2025
January 26, 2015--The federal budget deficit, which has fallen sharply during the past few years, is projected to hold steady relative to the size of the economy through 2018. Beyond that point, however, the gap between spending and revenues is projected to grow, further increasing federal debt relative to the size of the economy-which is already historically high.
Those projections by CBO, based on the assumption that current laws governing taxes and spending will generally remain unchanged, are built upon the agency's economic forecast. According to that forecast, the economy will expand at a solid pace in 2015 and for the next few years-to the point that the gap between the nation’s output and its potential (that is, maximum sustainable) output will be essentially eliminated by the end of 2017. As a result, the unemployment rate will fall a little further, and more people will be encouraged to enter or stay in the labor force. Beyond 2017, CBO projects, real (inflation-adjusted) gross domestic product (GDP) will grow at a rate that is notably less than the average growth during the 1980s and 1990s.
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Source: Congressional Budget Office (CBO)
Winklevoss twins expect first-quarter debut of bitcoin exchange
January 26, 2015--Winklevoss Capital, the firm run by Cameron and Tyler Winklevoss, expects to get regulatory approval to launch a U.S. exchange for investors to buy and sell the virtual currency bitcoin in the first quarter,
the twins told Reuters on Monday.
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Source: Reuters
Closing Latin America's Competitiveness Gap through Skills and Innovation
January 23, 2015--Latin America has an urgent need to boost its productivity to sustain and enhance competitiveness
Report responds to concerns about skills mismatch and low innovation in the context of declining commodity prices, global economic slowdown
Recommends a systemic and collaborative approach to address skills and innovation challenges
Latin America's lagging competitiveness must be addressed by increasing the level and efficiency of investments and by fostering intra-regional and private public collaborations, recommends a new report, Bridging the Skills and Innovation Gap to Boost Productivity in Latin America, published today by the World Economic Forum.
view the Bridging the Skills and Innovation Gap to Boost
Productivity in Latin America-The Competitiveness Lab: A World Economic Forum Initiative
Source: World Economic Forum
BMO 2015 ETF Outlook Report: Opportunities and Challenges for the ETF Industry
Canadian ETF Industry Assets Are Expected to Reach $200 Billion by 2020
BMO's ETF Business Led the Canadian ETF Industry in New Assets for the Fourth Year in a Row
Trends Include Increased Use by Investors and Advisors, as Well as the Maturation of Smart Beta ETFs
January 23, 2015--BMO Global Asset Management (BMO GAM) today released its bi-annual BMO 2015 ETF Outlook Report, which examines growth opportunities for Exchange Traded Funds (ETFs) and the industry's challenges for 2015.
According to the report, the Canadian ETF industry experienced significant growth in 2014, with more than C$10.3 billion in inflows-double the flows seen in 2013. Equity ETFs alone experienced C$5.8 billion in inflows in 2014 and fixed income ETFs had impressive inflows of more than C$4.3 billion. The report noted that this is because of the efficiency and liquidity benefits of offering fixed income on an exchange, bundling bonds in a basket instead of holding individual positions.
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Source: BMO Financial Group
Horizons ETFs announces changes to the Horizons Equity Managed Risk ETFs
January 23, 2015--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are announcing that, effective immediately, that Horizons ETFs will assume all day-to-day portfolio management responsibilities on the Horizons US Equity Managed Risk ETF ("HUS").
This follows a similar change that occurred in May of 2014, when Horizons ETFs assumed all day-to-day portfolio management responsibilities for the Horizons Canadian Equity Managed Risk ETF ("HUT").
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Source: Horizons ETFs Management (Canada) Inc.
CFTC.gov Commitments of Traders Reports Update
January 23, 2015--The current reports for the week of January 20, 2015 are now available.
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Source: CFTC.gov
Morgan Stanley-Fourth Quarter ETF Fund Flows-ETFs Exhibited Net Inflows of $117.6
January 23, 2015--There were 45 new ETFs listed in the US in 4Q14, and four new providers entered the market. There were 35 ETF liquidations in the
fourth quarter. An additional 11 ETFs have been launched since the end
of 4Q14 and 17 ETFs have already closed in 2015. As of 1/20/15 there
were 53 issuers with 1,444 ETFs listed in the US.
Net inflows into US-listed ETFs were $117.6 billion during 4Q14.
Fourth quarter ETF flows were a record and meaningfully higher than the average quarterly rate of net inflows since the beginning of 2011, of $45.1 billion. Net inflows during the fourth quarter typically accelerate as investors position for year-end tax planning, and as active managers lock in gains by purchasing index-based ETFs when appropriate. Since 2011, fourth quarter ETF net inflows have averaged $69.4 billion.
For the full year 2014, ETFs generated net inflows of $233.6 billion, a record year. The largest net cash inflows in the fourth quarter went into US Large-Cap ETFs. These ETFs had net cash inflows of $47.2 billion, catapulted by the SPDR S&P 500 ETF (SPY), which posted net inflows of $27.3 billion, or 58% of the category’s net inflows. Fixed Income ETFs had the next highest inflows this past quarter at $25.5 billion driven by a decline in interest rates. The three ETFs to generate the largest net inflows during the fourth quarter each mirror the S&P 500 Index. They had a combined $37.7 billion in net inflows.
International-Emerging ETFs had the largest net outflows in 4Q14. Net cash outflows from these ETFs were $4.0 billion. Additionally, Commodity ETFs had another rough quarter driven by a rout in commodity spot prices. Commodity ETFs exhibited net outflows of $1.3 billion in the quarter.
US ETF industry assets are $2.0 trillion. Despite the growth of the ETF
market, it remains concentrated, with three providers and 20 ETFs
accounting for 81% and 41% of industry assets, respectively.
Furthermore, US Equity ETFs account for 58% of the ETF market.
Source: Morgan Stanley
CFTC.gov Swaps Report Update
January 28, 2015--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
