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CFTC.gov Swaps Report Update
October 29, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Peru Continues to Rank as One of Top Economies in Latin America in Business Regulations
October 29, 2014--A new World Bank Group report finds that Peru continued to rank as one of the top economies where it is easier to do business in Latin America, as local entrepreneurs throughout the region saw an improvement in the business environment in the past year. Half the economies in the Latin America implemented at least one such reform in 2013/14, the report finds.
Peru, like other economies in Latin America, is now among the best performers globally in several areas measured by the World Bank Group report. For example, ten years ago, a Peruvian entrepreneur would have had to spend more than 33 days to register a property transfer. Now it would take her only 6.5 days, less time than in the United States (15 days) or Austria (20.5 days).
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Source: World Bank
U.S. Bancorp Fund Services, LLC Launches 10 Actively-Managed Exchange Traded Funds with WBI Investments
October 29, 2014--U.S. Bancorp Fund Services (USBFS) is announcing its collaboration with WBI Investments to launch the WBI Shares, a suite of 10 actively-managed exchange traded funds (ETFs).
The ETFs are designed to provide long-term capital appreciation, while protecting capital during unfavorable market periods. The WBI Shares ETFs launched on August 27, 2014 and surpassed $1 billion in assets on its first trading day on NYSE Arca.
"We believe actively-managed ETFs are the future of the ETF industry, and U.S. Bancorp Fund Services is critical to supporting these funds now and in the future," said Don Schreiber, Jr., founder and chief executive officer of WBI Investments, a registered investment adviser headquartered in New Jersey. "In this market, actively managing risk and capital is essential, and USBFS has both the experience and technology offerings to make this possible and practical."
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Source: U.S. Bancorp Fund Services (USBFS)
Fed eyes first rate rise after end to QE
October 29, 2014--The US Federal Reserve is shifting its focus to its first interest rate rise after ending an era of unprecedented asset purchases.
In a marked change of language, the rate-setting Federal Open Market Committee highlighted an improvement in the US labour market. Dropping its previous view that there was "significant underutilisation" of labour resources it said instead that this was "gradually diminishing".
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Source: FT.com
iShares Launches Beyond BRIC ETF
October 29, 2014--Given the ongoing concerns in most of the popular emerging market nations, investors are increasingly looking for funds that provide exposure to countries outside the BRIC (Brazil, Russia, India and China) group of nations.
Having sensed that, iShares, the world's biggest exchange-traded fund company,
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Source: Nasdaq.com
First Trust Enhanced Short Maturity ETF Approves Investment Management Fee Waiver and Reverse Share Split
October 29, 2014--First Trust Advisors L.P. ("First Trust") announced today that the Board of Trustees ("Board") of First Trust Exchange-Traded Fund IV (the "Trust"), on behalf of First Trust Enhanced Short Maturity ETF (the "Fund"), an actively-managed exchange-traded fund (NASDAQ: FTSM), has approved an additional waiver of the Fund's management fees in the amount of 0.10% of the Fund's average daily net assets for a period of one year beginning October 29, 2014.
First Trust serves as the investment advisor to the Fund. The Board has also approved a one-for-two reverse share split for the Fund.
With the additional fee waiver, the Fund's total annual fund operating expenses after fee waivers and offsets will be 0.25% of the Fund's average daily net assets. The Fund's annual unitary management fee is 0.45% of the Fund's average daily net assets.
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Source: First Trust Advisors L.P.
US Federal Reserve Issues FOMC Statement
October 29, 2014--Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing.
Household spending is rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has continued to run below the Committee's longer-run objective. Market-based measures of inflation compensation have declined somewhat; survey-based measures of longer-term inflation expectations have remained stable.
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Source: FRB
Schwab to offer free 'robo-advise' plan in first quarter 2015
October 28, 2014--Charles Schwab Corp confirmed on Monday that it will introduce free automated investment plans picked by computer algorithms in the first quarter of 2015.
The program, which will be marketed as Schwab Intelligent Portfolios to retail investors and independent investment advisers, will create portfolios of exchange-traded funds managed by Schwab and other providers.
viuew filing
Source: Reuters
SIGTARP Report: October 2014 Quarterly Report to Congress on TARP
October 28, 2014--This morning, SIGTARP issued its October 2014 Quarterly Report to Congress on the Status of TARP.
view the SIGTARP Report: October 2014 Quarterly Report to Congress on TARP
Source: Office of the Special Inspector General for the Troubled Asset Relief Program
U.S. Bancorp Fund Services' ETF Series Trust Exceeds $1 Billion in Assets
October 28, 2014--U.S. Bancorp Fund Services (USBFS) announced today that its Exchanged Traded Funds Series Solution (ESS) multiple series trust (MST) has exceeded $1 billion in assets.
"We're proud to share with our clients and partners across the industry that our ESS MST has achieved this important milestone," said Joe Redwine, president of U.S. Bancorp Fund Services.
"Reaching more than $1 billion in assets is a testament to the opportunities ESS series trusts offer investment management firms entering the exchange traded funds arena,"
The unique structure of ESS allows participants to select from multiple methods of securing required passive and/or active exemptive relief, Advisers may use their own exemptive relief, request that U,S, Bancorp Fund Services file for it on their behalf, or leverage a third party's existing exemptive relief provided through USBFS, Whichever option they select, the investment manager can benefit from the same comprehensive support services offered by U,S, Bancorp Fund Services.
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Source: U.S. Bancorp Fund Services (USBFS)
