Americas ETP News
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Leveraged ETFs not just for day traders anymore
February 12, 2014--Leveraged exchange-traded funds, originally viewed as tools for fast-moving day traders, are showing up more frequently as buy-and-hold investments in Mom and Pop portfolios, thanks to the advisers who are putting them there.
These funds, which exist across several asset classes, magnify the moves of their underlying indexes by delivering twice or three times their return. Some had a particularly good showing in 2013, when the Standard & Poor's 500 index rose almost 30 percent. The Direxion Daily S&P 500 Bull 3x Shares ETF, for example, gained 118.9 percent in 2013, more than triple the S&P 500's gains.
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Source: Reuters
BNP Paribas CIB Expands Its US ETF Trading Capabilities With Key Hire
February 12, 2014--BNP Paribas Corporate and Investment Banking is pleased to announce that Andy Ruckh has joined Global Equities and Commodity Derivatives business in New York as Head of US ETF Trading.
The move reflects an expansion of the bank's US ETF Trading capabilities designed to provide additional service and expertise to a range of clients. Ruckh will report to Luke Edwards, Head of Cash Equities.
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Source: BNP Paribas
Fidelity's Profit Up 13% as Outflows Decline
Clients Pull Less Money From Its Stock and Bond Mutual Funds
February 12, 2014--Fidelity Investments, the Boston-based asset manager and discount brokerage, said the operating income of its financial services business rose 13% to $2.6 billion, though investors continued to pull money from the company's stock and bond mutual funds.
Investors pulled a net $7.8 billion from Fidelity's stock products in 2013, even as the rest of the industry saw substantial inflows into such funds. Last year, U.S. stock mutual funds and exchange-traded funds overall garnered more than $172 billion from investors,, according to research firm Lipper Inc. In 2012, Fidelity's stock products saw withdrawals of $32.4 billion.
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Source: Wall Street Journal
CFTC.gov Swaps Report Update
February 12, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
AdvisorShares Announces Launch of Four Gold/Currency ETFs (GEUR, GGBP, GYEN, GLDE)
Continuing Innovation Allows Exposure to Gold in Different Currency Terms
February 11, 2014--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today the launch of four industry-first ETFs- providing gold exposure in different currency terms through a 40 Act structure-which will begin trading on Wednesday, February 12, 2014:
AdvisorShares Gartman Gold/Euro ETF (NYSE Arca: GEUR)
AdvisorShares Gartman Gold/British Pound ETF (NYSE Arca: GGBP)
AdvisorShares Gartman Gold/Yen ETF (NYSE Arca: GYEN)
AdvisorShares International Gold ETF (NYSE Arca: GLDE)
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Source: AdvisorShares
Guggenheim Investments to Close and Liquidate Enhanced Core Bond ETF (GIY)
Firm is dedicated to its ETF business covering a broad range of strategies including-domestic and international equity, fixed-income and currency
February 11, 2014-- Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced that it will liquidate the Guggenheim Enhanced Core Bond ETF (GIY) in order to reinforce its commitment to focusing resources on products that have demonstrated the most demand in the marketplace. The firm currently ranks eighth in AUM among U.S. ETF providers1.
"Guggenheim remains committed to its leadership position in the ETF business and engages in a regular and thoughtful review of all of our products to ensure that we are meeting our clients' needs," said William Belden, managing director, product development for Guggenheim Investments. "ETF closures are a healthy part of the maturation of the industry, and enable providers to free up capital to develop new and innovative product offerings for investors."
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Source: Guggenheim Partners
CFTC Announces Measures to Promote Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading
February 11, 2014--The Commodity Futures Trading Commission (Commission) today announced measures to promote trading on swap execution facilities (SEFs)
and support an orderly transition to mandatory trading of swaps, which begins for certain interest rate swaps on February 15, 2014.
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Source: CFTC.gov
S. 540, Temporary Debt Limit Extension Act
February 11, 2014--Upon enactment, S. 540 would suspend the current debt limit through March 15, 2015. On the following day, the debt ceiling would be raised by the amount of obligations incurred up to that point.
The legislation also would extend across-the-board cuts (known as sequestration) in certain direct spending programs for an additional year beyond 2023-the last year for which sequestration will apply under current law. CBO estimates that those provisions would reduce direct spending by about $9.2 billion in fiscal year 2024.
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Source: Congressional Budget Office (CBO)
First Asset Launches Four Low Risk Weighted ETFs Based on MSCI Indexes
Canadian investors now have a unique opportunity to access index tracking products that are designed to emphasize lower risk stocks and capture the volatility and size effect factors which aim to deliver superior risk-adjusted portfolio returns
February 11, 2014--First Asset Investment Management Inc. (First Asset), an independent Canadian investment management company, is pleased to announce the launch of four new Exchange Traded Funds (ETFs) built on MSCI risk weighted equity indexes.
"The MSCI Risk Weighted Indexes are uniquely designed to provide broad market exposure to the geographical regions they represent, while being weighted on the basis of low volatility. We believe these new ETFs, which aim to replicate the MSCI indexes, provide Canadian investors excellent diversification and attractive risk-adjusted returns," said Barry Gordon, First Asset CEO.
Source: First Asset Investment Management Inc.
Vanguard expands into ETF model portfolios
February 11, 2014--Vanguard is now offering model portfolios to help financial advisers package their exchange traded funds, part of the firm's heavy investment to build out its intermediary sales business.
In recent years, it has roughly doubled its sales force, transitioned to a field-based sales model and worked to support advisers with dedicated technology and education materials. The model portfolios were developed as another tool to help advisers incorporate Vanguard ETFs into client portfolios.
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Source: FT.com
