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Morgan Stanley-ETF Quarterly Report: $1.5 Trillion in 1,257 ETFs
May 31, 2013--Quarterly Report: $1.5 Trillion in 1,257ETFs
The quarterly report on US-listed ETFs includes a summary of investment applications, excerpts from our strategy reports, our outlook for related markets, index data, and individual profiles for the 321 ETFs in our coverage universe, which represents 91% of US listed ETF assets.
Net inflows into US-listed ETFs were $51.7 billion during the first quarter of 2013, the largest first quarter on record. There are $1.5 trillion in ETF assets spread among 1,257 products. 2013
ETF issuance has been slow as most major asset classes have ETFs
covering them and many newer listings have struggled to gain meaningful traction.
Despite strong overall growth and flows, the market remains concentrated with three providers and 20ETFs accounting for 81% and 44% of industry assets, respectively. ETFs provide access to favored market segments.
Morgan Stanley & Co.’s global economics team expects continued healing and re-leveraging in the US private sector, an end to the European recession, and the success of monetary easing globally to reignite global growth in the second half of 2013 and into 2014, albeit at a measured pace. We list favored areas in the report and ways to implement these ideas via ETFs.
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Source: Morgan Stanley
CFTC.gov Commitments of Traders Reports Update
May 31, 2013--The current reports for the week of May 28, 2013 are now available.
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Source: CFTC.gov
Deutsche Bank to launch muni ETF for infrastructure
May 31, 2013--The asset and wealth management division of Deutsche Bank will launch next week a first-of-its kind exchange-traded fund devoted purely to infrastructure-related municipal bonds.
The fund, called db X-trackers Municipal Infrastructure Revenue Bond Fund, will carry the ticker "RVNU" on the NYSE and is the first muni ETF to hold exclusively infrastructure bonds.
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Source: Reuters
Horizons ETFs announces final valuations for terminated ETFs
May 31, 2013--Horizons ETFs Management ( Canada ) Inc. ("Horizons ETFs"), by way of a press release dated March 1, 2013, previously announced that certain exchange traded funds ("ETFs") would be terminated effective upon the close of business today, May 31, 2013.
The ETFs being terminated (collectively, the "Terminated ETFs"), with their respective final net asset values ("Final NAV") per unit...
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Source:Horizons ETFs Management ( Canada ) Inc.
iShares Obtains New Cusip Numbers For Four ETFs
May 31, 2013--BlackRock, Inc. (NYS: BLK) today announced that four of its iShares Exchange Traded Funds (ETFs) have obtained new CUSIP numbers for operational reasons.
Effective June 10, 2013, the following ETFs will begin trading with new CUSIP codes:
NYSEArca Ticker IBCB - Old CUSIP: 46432F 792 ; New CUSIP: 46432F AD9
NYSEArca Ticker IBCC - Old CUSIP: 46432F 768 ; New CUSIP: 46432F AG2
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Source: BlackRock
UBS to Hang Up ETNs for (Among Other Things) Internet Stocks and Solid State Drives
May 31, 2013--Surprise! Sometimes exchange-traded funds and notes go out of business. Industry officials tend to paint the pruning of unsuccessful and asset-starved ETFs as a healthy process.
But it’s also an aggravation. Investors unlucky enough to own them have to pay unexpected trading costs. Bid-ask spreads tend to widen out. Then you’ll need to pay again to redeploy the money elsewhere.
Fortunately, the seven exchange-traded notes from UBS AG (UBS) whose end the New York Stock Exchange just announced aren’t very widely owned.
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Source: Barron's
CME Group Volume Reaches All-Time High On May 29
Record Highs In Globex Volume And Interest Rate Complex
May 30, 2013--CME Group reached a record high in single-day volume with 26,947,300 contracts traded across all asset classes on May 29, 2013, surpassing the previous record of 25,734,651 contracts on August 9, 2011.
CME Group also confirmed records in daily trading volume for the following:
Globex electronic volume reached 23,537,737 surpassing the previous record of 22,887,758 set on August 9, 2011
Interest Rate futures and options combined reached 19,417,635 surpassing the previous record of 17,164,758 set on February 27, 2007 .
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Source: CME Group
ISE Trades 15 Millionth Contract through Implied Order Functionality
May 30, 2013--The International Securities Exchange (ISE) today announced that trading of multi-legged strategy orders through its Implied Order* functionality has exceeded 15 million contracts. Since ISE launched Implied Order functionality in May 2012, it has accounted for approximately 10 percent of all non-crossing, multi-legged contract volume executed on ISE.
With the notable success of Implied Orders, the functionality has tightened spreads on ISE’s regular order book, which has improved executions for exchange members with both single- and multi-legged orders.
"ISE's Implied Order functionality has exceeded our expectations and delivered significant improvements in execution quality by leveraging liquidity throughout the industry," said Boris Ilyevsky, Managing Director of ISE’s options exchange. “Exceeding the milestone of 15 million Implied Order contracts validates our approach and, coupled with our very competitive pricing structure, demonstrates that ISE will continue to remain a leading routing destination for multi-legged orders."
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Source: International Securities Exchange (ISE)
New State Street Global Advisors ETFs Aimed at Providing Clients with Income and Inflation Protection
May 30, 2013--State Street Global Advisors (SSgA), the asset management arm of State Street Corporation, today announced the availability of the SPDR S&P Global Dividend ETF (symbol:WDIV) and the SPDR Barclays 1-10 Year TIPS ETF (symbol:TIPX).
The SPDR S&P Global Dividend ETF is designed to provide investors with precise exposure to both developed and emerging market dividend paying companies, through a globally diversified income portfolio strategy. The SPDR Barclays 1-10 Year TIPS ETF is designed to provide investors with access to U.S. Treasury Inflation-Protected Securities (TIPS). Both funds began trading on NYSE Arca on May 30, 2013.
"In the sustained low rate environment, clients are grappling with how to meet their income objectives while staying within their own risk boundaries. Investors are embracing strongly diversified income products to provide a level of downside protection in their portfolios, as evidenced by the growth of the SPDR S&P Dividend ETF (symbol:SDY), the SPDR S&P Emerging Markets Dividend ETF (symbol:EDIV) and the SPDR S&P International Dividend ETF (symbol:DWX)," said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA.
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Source: State Street Global Advisors
Doubts cloud Brazil outlook after disappointing first quarter
May 30, 2013--Brazil's central bank on Wednesday night overlooked weak first quarter economic growth and tightened interest rates more than expected to try to prevent stagflation from worsening in Latin America's biggest country.
In a unanimous decision, the monetary policy committee increased its benchmark Selic interest rate by 50 basis points to 8 per cent to try to rein in inflation, which is hovering near the upper end of the central bank’s target range.
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Source: FT.com
