SSgA rolls out actively managed “risk aware” ETF

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SSgA rolls out actively managed “risk aware” ETF

State Street Global Advisors (SSgA) has unveiled its sixth actively managed ETF: the SPDR SSgA Risk Aware ETF (RORO). The new ETF, which has been listed on the NYSE Arca, is designed to help investors manage risk-on and risk-off market cycles and is based on a proprietary quantitative market risk measurement model intended to identify, quantify and benefit from risk factors moving the markets at any given time. Scott Ebner, Senior Managing Director and Global Head of Product Development and Research at SSgA, said: “The SPDR SSgA Risk Aware ETF is targeted at providing investors an innovative solution for capitalizing on risk-on and risk-off fluctuations in the US equity market.”

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Latest news

First Asset launches actively managed Canadian REIT and dividend ETFs First Asset launches actively managed Canadian REIT and dividend ETFs

First Asset, a Toronto-based investment manager, has announced the launch of two new active exchange-traded funds: the First Asset Active Canadian REIT ETF (FRF) and the First Asset Active Canadian Dividend ETF (FDV). The ETFs, which have been listed on the Toronto Stock Exchange, provide actively managed exposure to real estate equities and dividend-paying stocks, respectively, listed in Canada.

Lyxor unveils “brave value investor” smart beta ETF Lyxor unveils “brave value investor” smart beta ETF

Lyxor Asset Management, Europe’s third largest provider of exchange-traded funds, has unveiled an ETF designed for the “brave value investor”. Listed in both London and Paris, the Lyxor UCITS ETF SG Global Value Beta (SGVB) is linked to the SG Value Smart Beta Index, an index developed by quants Andrew Lapthorne (pictured) and Georgios Oikonomou which invests in the 200 cheapest stocks on a sector relative basis in global developed markets. The fund, which has an expense ratio of just 0.40%, should appeal to investors seeking to gain from a share price recovery in companies currently heavily discounted by the market.

iShares expands single country offering with launch of MSCI France ETF iShares expands single country offering with launch of MSCI France ETF

BlackRock, parent of iShares, the world’s largest provider of exchange-traded funds, has expanded its single country equity offering with the launch of the iShares MSCI France UCITS ETF (ISFR). The fund, which has been listed on the London Stock Exchange, is linked to the MSCI France Index and aims to provide exposure to approximately 85% of the equity universe in France. The index consists of large and mid-cap companies, and includes well-known names such as Total, Sanofi, BNP Paribas, LVMH and AXA.

Lyxor launches physical RQFII China A-Shares ETF Lyxor launches physical RQFII China A-Shares ETF

Lyxor Asset Management has become the latest European exchange-traded fund issuer to launch an ETF providing physical exposure to domestic Mainland China stocks, known as “A-Shares”. The Lyxor UCITS ETF MSCI China A (CNNA) is the first physical A-Shares ETF to be listed on Euronext Paris, and will also list on the London Stock Exchange on 9 September 2014. The ETF tracks the performance of the MSCI China A Index, an index capturing the large and mid-cap representation of Renminbi-denominated securities listed on the Shanghai and Shenzhen stock exchanges.

Equities

Source expands ETF presence on Deutsche Börse Source expands ETF presence on Deutsche Börse

Source, one of Europe’s leading providers of exchange-traded products, has cross-listed four ETFs on Deutsche Börse, lifting the provider’s presence on the German exchange to 53 products. The four ETFs include two equity strategies developed in partnership with Man GLG, and a pair of US energy infrastructure ETFs. MJ Lytle, Chief Development Officer at Source, said: “As European investors have become more familiar with ETFs in recent years, we have witnessed an increase in interest. They are now looking to ETFs to fulfil a greater number of needs in their portfolios, including niche investments where ETFs are often the first to market.”

Commodities

Merk Gold ETF (OUNZ) makes first physical delivery Merk Gold ETF makes first physical delivery

The Merk Gold Trust (OUNZ), a deliverable gold exchange-traded fund, has successfully completed its first gold delivery. The ETF, which launched on the NYSE Arca in May, possesses an innovative feature which gives investors the option to take delivery of physical gold vaulted in London in exchange for their shares. On Wednesday, July 16, 2014, such a request was made. An investor submitted 5,406 shares of OUNZ to Merk requesting 54 American Buffalo gold coins to be delivered; the gold was successfully delivered on Tuesday, July 22, 2014.

Fixed Income

Boost unveils triple inverse US Treasury ETP on LSE Boost unveils triple inverse US Treasury ETP on LSE

Boost, a leading European provider of short and leveraged exchange-traded products and a division of US ETF sponsor WisdomTree, has added a further inverse fixed income ETP to its growing armoury of products, this time with the launch of a product linked to US government bonds. Listed on the London Stock Exchange, the newly launched Boost US Treasuries 10Y 3x Short Daily ETP (3TYS) provides triple inverse exposure to the BNP Paribas US Treasury Note 10Y Future Index, an index reflecting the performance of intermediate-term US Treasuries.

Alternatives / Multi-Asset

Geopolitical risks shaken out; global AUM in short and leveraged ETPs steadies at $60bn Geopolitical risks shaken out; global AUM in short and leveraged ETPs steadies at $60bn

Boost ETP, a leading provider of short and leveraged exchange-traded products, has released its latest ‘Short & Leveraged ETFs/ETPs Global Flows Report’. The report highlights the key flows and trends in short and leveraged ETPs across asset classes and geographies in August 2014. Viktor Nossek, Head of Research at Boost, commented: “August saw S&L investors repositioning bullishly in European equities and bearishly in US equities.”

ETF and Index News

Global ETP flows finish summer strongly; on track for record year Global ETP flows finish summer strongly; on track for record year

Global exchange-traded product flows of $23.3bn in August ensured a strong finish to the summer for industry growth. The steady asset gathering has contrasted sharply with the volatility last summer due to the focus on when the Fed would begin to taper. As a result, year-to-date flows of $179.1bn have surged ahead of 2013 and are on track for a new record. Ursula Marchioni, Head of ETP Research EMEA at iShares, commented: “This August was the best August for ETP growth, and the industry is on track to break all previous asset gathering records in 2014.”