Americas ETP News
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Knight Capital's Browne Would Stop Bitcoin ETF 'Right at the Front Door'
July 10, 2013--If you're going to build an exchange-traded fund, you're well advised to get the support of Knight Capital Group, the industry,s leading market-making firm (recently renamed KCG Holdings).
In that regard, Winklevoss Bitcoin Trust is already in a hole. Just one week after the regulatory filing by the Winklevoss twins’ Math-Based Asset Services LLC, a top official from Knight says he isn’t interested.
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Source: Barron's
Vanguard ETFs Surpass $1 Billion in Assets
July 10, 2013--Vanguard Investments Canada Inc. (Vanguard) today announced that its lineup of 11 high-quality, low-cost exchange-traded funds (ETFs) has surpassed $1 billion in assets under management.
“We are grateful for the trust that financial advisors and their clients have placed in us,” said Atul Tiwari principal and managing director of Vanguard Investments Canada.
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Source: Vanguard Investments Canada Inc.
BlackRock Expands iSharesBondsTM Suite of Defined Maturity ETFs
July 10, 2013--iSharesBonds provide efficient access to corporate credit with a defined maturity date
July 10, 2013-- BlackRock, Inc. (NYSE: BLK) announced today that its iShares Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, has expanded its suite of iSharesBondsTM with four new Corporate Term ETFs.
These new products offer investors efficient access to a diversified pool of investment grade corporate credit securities with a defined maturity date, daily liquidity and price transparency.
For investors who are concerned about rising rates, the interest rate sensitivity of the iSharesBonds Corporate Term ETFs will decline through time as the funds approach maturity. If iSharesBonds are held until maturity, investors can expect to experience a yield that is similar to the yield to maturity of the underlying bonds held in the ETF. iSharesBonds can be utilized to target and manage interest rate risk, just like with a portfolio of individual bonds. Investors can also construct a bond ladder using iSharesBonds to help achieve a well-diversified portfolio for investments of almost any size.
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Source: BlackRock
State Street ETFs undercut iShares and Vanguard
July 10, 2013--State Street Global Advisors, the second-largest provider of exchange-traded funds, is making a push to join the ranks of low-cost ETF providers by offering the cheapest Russell 1000, 2000, and 3000 ETFs on the market.
SSgA launched the SPDR Russell 2000 ETF on Tuesday and changed the underlying index of the $38 million SPDR Dow Jones Large Cap ETF and the $510 million SPDR Dow Jones Total Market ETF to the Russell 1000 and Russell 3000, respectively.
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Source: Pensions & Investments
DB-Synthetic Equity & Index Strategy-North America-US ETF Market Weekly Review-Fixed Income ETPs dominated the weekly flows with +$3.4bn
July 9, 2013--Data in this report is as of Fri, July 5th
Markets were mixed during last week. The US (S&P 500) rose by 1.59%; while, outside the US, the MSCI EAFE (in USD) gained 0.57% and the MSCI EM (USD) plunged by 2.33%. Moving on to other asset classes, the 10Y US Treasury Yield rose by 13 bps last week; while the DB Liquid Commodity Index was up by 1.71%. In the meantime, the Agriculture sector (DB Diversified Agriculture Index) pulled back by 0.93% and the WTI Crude Oil rose 6.90%, while Gold and Silver prices retreated by 0.92% and 3.83%, respectively. Last but not least, Volatility (VIX) dropped by 11.68% during the same period.
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The total US ETP flows from all products registered $6.1bn (+0.4% of AUM) of inflows during last week vs. $3.3bn (+0.2%) of inflows the previous week, setting the YTD weekly flows average at +$2.9bn (+$77.4bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of +$3.01bn (0.28%), +$3.44bn (1.33%) and -$0.41bn (-0.61%) last week vs. +$5.25bn (0.49%), -$0.61bn (-0.24%) and -$1.25bn (-1.71%) in the previous week, respectively.
Among US sectors, Information Technology (+$0.73bn, +3.5%) and Energy (+$0.57bn, +2.0%) received the top inflows, while Utilities (-$0.36bn, -4.7%) and Healthcare (-$0.24bn, -1.3%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: IEI (+$2.3bn), SPY (+$1.6bn), IWM (+$0.9bn)
Top 3 ETPs & ETNs by outflows: IVV (-$1.4bn), SSO (-$1.1bn), IYR (-$0.7bn)
New Launch Calendar: EM dividend growth
There was one new ETF listed during last week on the NYSE Arca. The new product offers exposure to emerging market companies whose 5-year dividend payout growth is faster than the average dividend payout growth in the FTSE All Cap Emerging ex Taiwan Universe.
Turnover Review: Floor activity decreased by 40.3%
Total weekly turnover decreased by 40.3% to $232.85bn vs. $390.03bn from the previous week; Furthermore, last week's turnover level was 13.6% below last year's weekly average. Equity, Fixed Income and Commodity ETPs turnover decreased by $128.9bn (-39.0%), $16.4bn (-45.6%) and $9.8bn (51.4%) during the same period, respectively.
Assets under Management (AUM) Review: assets rose by $15.5bn
US ETP assets rose by $15.5bn (+1.1%) totaling $1.435 trillion at the end of the week. As of last Friday, US ETPs had accumulated an asset growth of 7.6% YTD. Assets for Equity, Fixed Income and Commodity ETPs moved +$13.1bn, +$1.6bn, +$0.8bn during last week, respectively.
Source: Deutsche Bank-Synthetic Equity & Index Strategy-North America
Fee war redux? State Street ETFs undercut iShares and Vanguard
July 9, 2013--State Street Global Advisors, the second-largest provider of exchange-traded funds, is making a push to join the ranks of low-cost ETF providers by offering the cheapest Russell 1000, 2000, and 3000 ETFs on the market.
SSgA launched the SPDR Russell 2000 ETF (TWOK) on Tuesday and changed the underlying index of the $38 million SPDR Dow Jones Large Cap ETF (ELR) and the $510 million SPDR Dow Jones Total Market ETF (ELR) to the Russell 1000 and Russell 3000, respectively.
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Source: Investment News
BNY MELLON DR INDICES Monthly Performance Update June 2013
July 9, 2013--The BNY Mellon ADR Index Monthly Performance-June 2013 Update has been published and is now available for review.
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Source: BNY Mellon
Invesco PowerShares Extends Lead in Smart Beta Solutions as Fundamental Suite of ETFs Reach $5 Billion AUM Mark Globally
RAFI(R) Fundamental Index(R) Strategy Outperforms Broad US Market-Cap Weighted Indexes Over Five-Year and Since Inception Periods
July 9, 2013-- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs)- announced today the PowerShares Fundamental suite of ETFs recently passed the $5 billion assets under management (AUM) mark.
Invesco PowerShares offers ETFs tracking Fundamentals Weighted indices trading in the US, Canada and Europe.
"Invesco PowerShares has been focused on providing investors with the broadest and most diverse family of 'smart beta' ETFs since the firm was founded," said Andrew Schlossberg, head of global ETFs.(1) "Invesco PowerShares pioneered Fundamentals Weighted ETFs introducing the first broad-based US 1000 portfolio back in 2005, followed by international portfolios in 2007, and the first fixed-income portfolio in 2010. We are pleased to reach this $5 billion milestone for the PowerShares Fundamentals Weighted ETFs. Investors are readily adopting Fundamental strategies along with low volatility, high beta, and momentum-based ETFs as potential effective smart beta portfolio solutions." (2)
view more Sector SPDR Analyzer + Equal Sector Weight ETF (EQL)-July 2013 view the view the ALPS Equal Sector Weight ETF (EQL)report CBO-H.R. 2374, Retail Investor Protection Act Based on information from the SEC and the Employee Benefits Security Administration (EBSA), CBO estimates that implementing H.R. 2374 would not have a significant effect on federal spending. view more
Source: Invesco PowerShares Capital Management LLC
July 9, 2013--This month's Select Sector SPDR and Equal Sector Weight ETF Analyzer reports are ready for download.
view the Select Sector SPDR funds July 2013 report
Source: AltaVista Research
July 9, 2013--As ordered reported by the House Committee on Financial Services on June 19, 2013
H.R. 2374 would prohibit the Secretary of Labor from finalizing a regulation related to certain investment advisors until the Securities and Exchange Commission (SEC) issues a final rule setting standards of conduct for brokers and dealers of securities.
The regulation that would be delayed by the bill will define the circumstances under which an individual is considered to be a fiduciary when providing investment advice to retirement and other employee benefit plans and their participants. Under current law, the SEC has been authorized to develop regulations that establish the same standards of conduct for brokers and dealers that are already in place for investment advisors when providing advice to persons who use the information for personal reasons
Source: Congressional Budget Office (CBO)
