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Market Vectors Launches "MOAT": Market Vectors Morningstar Wide Moat Research ETF
April 25, 2012--Market Vectors ETFs today announced the launch of Market Vectors Morningstar Wide Moat Research ETF (NYSE Arca: MOAT). This new exchange-traded fund seeks to leverage Morningstar research that aims to identify companies with potential to maintain a competitive advantage for 20+ years.
MOAT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Morningstar Wide Moat Focus IndexSM (MWMFTR).
Morningstar’s wide-moat analysis seeks to identify companies that possess one or more sustainable, long-term competitive advantages and are expected to have high returns on invested capital relative to their cost of capital. As part of this analysis, Morningstar’s equity research team looks for such sustainable competitive advantages, or wide economic moats, as: intangible assets (i.e., strong brands, relevant patents, special licenses or other regulatory approvals); cost advantages (i.e., the ability to produce goods or services at a low cost relative to competitors); switching costs (i.e., high time-related or monetary costs associated with changing from one provider/producer to another); network effects (i.e., where the addition of new customers adds value for all customers); and efficient scale (i.e., operating within a limited market size that has little incentive for new entrants).
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Source: Van Eck Global
Guggenheim Investments Launches Three BulletShares(R) High Yield Corporate Bond ETFs
Unique Product Suite Now Includes Sixteen Fixed-Term ETFs
April 25, 2012--Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced the launch of three new high yield corporate bond BulletShares exchange traded funds (ETFs): Guggenheim BulletShares 2016 High Yield Corporate Bond Fund (NYSE Arca:BSJG), Guggenheim BulletShares 2017 High Yield Corporate Bond ETF (NYSE Arca:BSJH) and Guggenheim BulletShares 2018 Corporate Bond ETF (NYSE Arca:BSJI).
These funds are a part of a suite of Guggenheim BulletShares(R) ETFs, which recently surpassed $1 billion in total assets as of March 14, 2012.
"BulletShares provide a cost-effective approach to bond laddering," said William Belden, head of product development for Guggenheim Investments. "Advisors are increasingly looking for ways to use high-yield corporate bonds to diversify their clients' portfolios, and these ETFS are a unique solution."
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Source: Guggenheim Investments
Traders Migrating To Sector, Commodity ETFs: Schwab
April 25, 2012--Retail traders are taking on more risk by purchasing ETFs following equity sectors and commodities, according to a report from Charles Schwab Corp.
Among this client segment, about 35% of flows went into sector ETFs in the first quarter to lead all categories, and a big jump from the fourth quarter. [Commodity ETF Assets Hit Record]
"Retail traders sought exposure to real estate, financials and technology," Schwab said in a quarterly update.
ETF assets custodied at Schwab stood at $138 billion as of March 31, 2012, up 14% from the same period in 2011
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Source: Copper ETF
Horizons ETFs Announces Unit Splits
April 25, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada ) Inc., the manager and trustee of the Horizons BetaPro NYMEX Natural Gas Bear Plus ETF and Horizons BetaPro NYMEX Natural Gas Inverse ETF (together, the "ETFs"),
are announcing today that it intends to split the units of the ETFs, as indicated below:
Unit Splits
After the Toronto Stock Exchange (the "TSX") has closed for trading on Friday, May 4, 2012 , the units of the ETFs will be subdivided on the basis of the ratios (the "Split Ratios") set out below, and will begin trading on a split adjusted basis on Monday, May 7, 2012 , and the split will become effective on May 9, 2012 for unitholders of record on that date:
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Source: Horizons Exchange Traded Funds Inc.
Global X files with the SEC
April 25, 2012--Global X has filed a post-effective amendment, registration statement with the SEC for the
Global X SuperIncome & MLP Index ETF-
(SINC)
Global X SuperIncome Preferred ETF-(SPFF)
Global X SuperIncome REIT ETF
view filing
Source: SEC.gov
Federal Reserve Issues FOMC Statement
April 25, 2012--Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated. Household spending and business fixed investment have continued to advance.
Despite some signs of improvement, the housing sector remains depressed. Inflation has picked up somewhat, mainly reflecting higher prices of crude oil and gasoline. However, longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects economic growth to remain moderate over coming quarters and then to pick up gradually. Consequently, the Committee anticipates that the unemployment rate will decline gradually toward levels that it judges to be consistent with its dual mandate. Strains in global financial markets continue to pose significant downside risks to the economic outlook. The increase in oil and gasoline prices earlier this year is expected to affect inflation only temporarily, and the Committee anticipates that subsequently inflation will run at or below the rate that it judges most consistent with its dual mandate.
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Source: FBR
Federal Reserve Board And FOMC Release Economic Projections
April 25, 2012--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached table and charts summarizing the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the April 24-25 meeting of the Committee.
The table will be incorporated into a summary of economic projections released with the minutes of the April 24-25 meeting. Summaries of economic projections are released on an approximately quarterly schedule.
view Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents, April 2012
Source: FBR
FINRA Statement on Introduction of Investment Adviser Oversight Act of 2012
April 25, 2012--The bipartisan bill, Investment Adviser Oversight Act of 2012, introduced today is an important and thoughtful effort to address a serious gap in investor protection. The bill recognizes the need for regular exams of investment advisers, while rightly focusing on retail accounts.
"As FINRA has said, the current level of IA exams is unacceptable, and SROs can help fill this untenable gap in the protection of investment advisory clients."
FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and firms.
For more information, please visit www.finra.org.
Source: FINRA
Fed stands pat but says will act if needed
April 25, 2012--Federal Reserve Chairman Ben Bernanke on Wednesday said U.S. monetary policy is "more or less in the right place" even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
In a statement after a two-day meeting, the Fed's policy-setting panel reiterated its expectation that interest rates would not rise until late 2014 at the earliest, and it took no action on monetary policy.
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Source: Reuters
BNY Mellon appointed by NOW: Pensions as custodian and administrator to new DC workplace pension
April 25, 2012--BNY Mellon, the global leader in investment management and investment services, has been appointed to provide custody and investment administration solutions for NOW: Pensions' new cost-efficient UK defined contribution workplace pension.
NOW: Pensions is the UK-based multi-employer trust established in November 2011. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP (Arbejdsmarkedets Tillægspension), Denmark's largest pension fund and the administration is carried out by Paymaster, an established UK third party administrator.
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Source: BNY Mellon
