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AdvisorShares Weekly Market Update-QE Invades Europe
For the week of January 19-January 23
January 29, 2015--QE Invades Europe
Macro
The big news of the week was the fully expected news that the European Central Bank will begin asset purchases to the
tune of €60 billion per month running from March through
September.
And while this was not a surprise it still had the effect of lifting stock prices, sinking bond yields and pushing
currency markets around.
Equities were generally higher last week expect for Shanghai which was down slightly. The Dow Jones Industrial Average was up 84 basis points, the S&P 500 gained 1.62% with the Russell 2000 adding 1% and the NASDAQ led the way with a 2.68% lift.
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Source: AdvisorShares
CFTC Commissioner J. Christopher Giancarlo Releases Swaps Trading Rules White Paper
Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank
January 29, 2015--U.S. Commodity Futures Trading Commission (CFTC) Commissioner J. Christopher Giancarlo today released a White Paper titled "Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank."
The paper analyzes flaws in the CFTC's implementation of its swaps trading regulatory framework under Title VII of the Dodd-Frank Act and proposes a more effective alternative.
view the Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank White Paper
Source: CFTC.gov
ETF Securities and Scientific Beta launch two Diversified-Factor Equity Exchange Traded Funds
First Diversified-Factor ETFs to provide exposure to US and European equities in the US
Uses Scientific Beta index methodologies
January 28, 2015--ETF Securities, one of the world's leading, independent providers of Exchange-Traded Products (ETPs) has launched two new Exchange Traded Funds (ETFs) based on Scientific Beta's multi-factor, multi-strategy indices.
The new ETFs are the ETFS Diversified-Factor U.S. Large Cap Index Fund (SBUS) and the ETFS Diversified-Factor Developed Europe Index Fund (SBEU).
Both products are listed on the New York Stock Exchange (NYSE). Scientific Beta is an index provider specializing in smart beta solutions and is part of the EDHEC Risk Institute, an entity that works closely with institutions to implement academic research and improve their investment and risk management process.
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Source: Scientific Beta
Federal Reserve Issues FOMC Statement
January 28, 2015--Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Labor market conditions have improved further, with strong job gains and a lower unemployment rate.
On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish. Household spending is rising moderately; recent declines in energy prices have boosted household purchasing power. Business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has declined further below the Committee's longer-run objective, largely reflecting declines in energy prices.
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Source: FBR
SIGTARP Report: January 2015 Quarterly Report to Congress on TARP
January 28, 2015--This morning, SIGTARP issued its January 2015 Quarterly Report to Congress on the Status of TARP.
view the SIGTARP Report: January 2015 Quarterly Report to Congress on TARP
Source: SIGTARP
Exclusive: Fixed income manager Sage Advisory for sale-sources
January 28, 2015--Fixed income manager Sage Advisory Services is up for sale, according to three sources familiar with the situation.
The Austin, Texas-based asset management firm, which manages $11 billion in private client and institutional assets, hopes to fetch around $100 million through a sale, according to two of the sources, all of whom wished to remain anonymous because they are not permitted to speak to the media.
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Source: Reuters
Cetera president blasts White House memo defending DOL fiduciary
Arguments continue on both sides about the merits of the memo and what it means for the standard's future prospects
January 27, 2015--An independent broker-dealer executive Monday sharply criticized a leaked White House memo that purports to show that sales incentives for financial advisers cost retirement savers billions of dollars annually, calling it "offensive" and saying that it demonstrated "ignorance" about the role of advisers.
The document "accuses all financial advisers of defrauding their clients," Adam Antoniades, president of Cetera Financial Group, told a Financial Services Institute conference audience of about 800 in San Antonio. "The ignorance displayed in the memo is quite shocking to me. It's frankly offensive."
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Source: Investment News
WisdomTree Expands Offering on Schwab ETF OneSource(TM)
January 26, 2015--WisdomTree Investments, Inc. (Nasdaq:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced that starting on February 1, 2015, it will add four additional WisdomTree ETFs to Schwab ETF OneSourceTM, which offers investors and advisors the most commission-free ETFs in the industry.1
With this addition, Schwab clients can buy and sell 10 WisdomTree ETFs, and purchases are subject to $0 online trade commissions and no early redemption fees or hidden costs.
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Source: WisdomTree
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.
