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FlexShares Expands ESG & Climate Suite with Emerging Markets ETF
April 21, 2022--Firm's sustainable core equity strategy now available across all major equity markets
Northern Trust Asset Management's FlexShares(R) Exchange Traded Funds announced today the launch of a new Environmental, Social and Governance (ESG)* ETF focused on climate with exposure to emerging markets: the FlexShares ESG & Climate Emerging Markets Core Index Fund (NYSE: FEEM).
This fund builds on FlexShares' existing climate suite introduced in September 2021, which currently includes US large cap equities, developed markets ex-US equities, and two fixed-income ETFs.
The FEEM fund will align with the broader suite's strategy, which seeks to help investors improve their portfolio's overall ESG score and reduce carbon risk while maintaining core equity exposure
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Source: FlexShares
Fidelity Opens "The Fidelity Stack" in Decentraland; Becomes First Brokerage Firm With Immersive Educational Metaverse Experience
April 21, 2022--The Fidelity Stack features Invest Quest with gamified financial education
New experience launches alongside Fidelity Metaverse ETF (FMET)
Fidelity Investments today celebrated the grand opening of its first immersive metaverse experience aimed at offering a new way to learn investing basics.
The platform is the latest move by Fidelity to create innovative ways to serve customer needs, especially the next generation of customers, as it becomes the first leading brokerage firm to offer an educational metaverse experience.
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Source: Fidelity Investments
Roundhill Launches Cannabis ETF (CBOE: WEED)
April 20, 2022--Roundhill Investments, an ETF sponsor focused on innovative thematic funds, today launched the Roundhill Cannabis ETF ("WEED ETF") on the Cboe BZX Exchange. The WEED ETF seeks to provide investors with exposure to the cannabis sector, including U.S. multi-state operators ("MSOs").
According to BDSA, the global cannabis market is expected to grow to $61 billion by 2026, more than double $29 billion in sales for 2021. The majority of this growth is expected to come from the U.S. and Canadian markets, as consumer access improves amongst legalized states. Positive regulatory momentum continues abroad as well, including Mexico, and European markets such as the U.K. and Germany.
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Source: Roundhill Investments
First Trust Launches First Trust Indxx Metaverse ETF
April 20, 2022--An index-tracking ETF that provides exposure to companies that comprise the metaverse industry
First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched a new ETF, the First Trust Indxx Metaverse ETF (Nasdaq: ARVR) (the "fund").
The fund seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an index called the Indxx Metaverse Index (the "index") which is designed to track the performance of companies that are involved in offering technologies that assist in creating the Metaverse.
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Source: First Trust
Principal Global Investors to convert six passive ETFs to active strategies
April 20, 2022--Consent of investors needed for changes to several of the funds' investing restrictions
Principal Global Investors is planning to convert its largest exchange traded fund and five others into actively managed strategies, disclosures show.
The manager intends to overhaul the investment strategies of its $1.6bn Principal US Mega-Cap ETF, $771mn Principal US Small-Cap Multi-Factor ETF, $235mn Principal Value ETF, $86mn Principal Quality ETF, $71mn Principal Healthcare Innovators ETF and $27mn Principal Millennials ETF, according to disclosures.
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Source: ft.com
Global X Further Expands Its Thematic Offering with the Launch of Green Building ETF (GRNR), Seeking to Capture Rising Demand for Environmentally Conscious Buildings
April 13,2022---Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Green Building ETF (GRNR). GRNR is Global X's latest addition to its Thematic Growth family, which offers investors targeted exposure to companies around the world driving long-term, paradigm-shifting themes.
The global population is expanding at a rapid pace and becoming increasingly urban. By 2050, the world's population is expected to reach 9.7 billion, 68% of which is projected to live in urban areas.[i],[ii] This swift increase in population will make additional places for people to live, work, and congregate necessary, requiring building stock to double.[iii] However, buildings account for a significant share of global greenhouse gas emissions, and urban environments and city dwellers are expected to become increasingly vulnerable to the impacts of climate change, including extreme heat events and rising sea levels.[iv] With buildings responsible for up to 38% of energy-related carbon emissions globally and 50% of all extracted materials, green buildings are key to reducing building-related emissions and improving urban resiliency in the face of climate change. [v],[vi]
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Source: Global X Management Company LLC
Vanguard's special ETF patent expires next year. Does it matter?
April 13, 2022--Rivals could copy their structure, but the question is whether any will bother
More than two decades ago-before fund companies began converting mutual funds into ETFs and US regulators streamlined the ETF approval process-Vanguard executives had an idea.
Rather than launch ETFs as a standalone vehicle, they decided to work on packaging them within a mutual fund. The idea led the firm in 2001 to debut the first ETF share class of a mutual fund.
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Source: ft.com
State Street Services Capital Group's First Actively Managed ETFs
April 13, 2022--Firms aligned closely over the past 18 months to prepare for the launch of Capital Group’s initial suite of six ETFs
State Street Corporation (NYSE: STT) announced today that it has begun working with Capital Group on servicing of the investment management firm's first actively managed exchange traded funds (ETF) that launched in February 2022.
As part of the appointment, State Street is providing ETF basket services, fund accounting, fund administration, order-taking and transfer agency services.
"We're very excited to be working with Capital Group on the launch of their first active ETFs," said Frank Koudelka, Global ETF Product Specialist at State Street. "The State Street team began our initial ETF engagement with Capital Group when they formed an ETF Working Group to research the market and we are very pleased to see that our partnership has been an important aspect to enable Capital Group's foray into ETFs."
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Source: State Street Corporation
Pacer ETFs Launches New ETF Targeting Opportunities in Online Gambling, Video Game and eSports Industries
April 11, 2022--The firm prepares for rapid consumer demand for online media and entertainment with the launch of a new exchange-traded fund
Pacer ETFs ("Pacer"), an ETF provider that offers strategy-driven, rules-based ETFs, launches the Pacer BlueStar Digital Entertainment ETF (ticker: ODDS), which aims to follow the BlueStar Global Online Gambling, Video Gaming, and eSports Index.
The rules-based index consists of globally listed stocks and depositary receipts of companies that derive at least 50% of their revenues from online gambling, video game development, eSports events and streaming services, and related hardware manufacturers.
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Source: Pacer
CBO-Monthly Budget Review: March 2022
April 8, 2022--The federal budget deficit was $667 billion in the first six months of fiscal year 2022, CBO estimates. That amount is roughly 40 percent of the shortfall recorded during the same period in 2021 ($1,706 billion).
Summary
The federal budget deficit was $667 billion in the first six months of fiscal year 2022 (that is, from October 2021 through March 2022), CBO estimates. That amount is roughly 40 percent of the shortfall recorded during the same period in 2021 ($1,706 billion). Revenues were $418 billion (or 25 percent) higher and outlays were $622 billion (or 18 percent) lower than during the same period a year ago.
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Source: Congressional Budget Office(CBO)
