Joanna Gallegos JP Morgan

Latest news

JP Morgan expands ‘BetaBuilders’ suite with international equity ETF

JP Morgan Asset Management has added to its ‘BetaBuilders’ suite of low-cost, passively managed ETFs with the launch of the JPMorgan BetaBuilders International Equity ETF (BBIN US). The fund, which has listed on Cboe BZX and comes with a fee of 0.07%, provides investors with liquid, cost-effective access to developed market equities globally, excluding the US and Canada. Joanna Gallegos, US Head of ETFs at JPMAM, said, “BBIN gives investors broad, diversified access to the developed international equity market, at a fraction of the price of purchasing across individual markets.”

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Latest news

Sumitomo to launch low-cost TOPIX ETF in Japan

Sumitomo Mitsui DS to launch low-cost TOPIX ETF in Japan

Tokyo-based Sumitomo Mitsui DS Asset Management is set to launch a new ETF providing low-cost exposure to the broad Japanese equity market. The SMDAM TOPIX ETF (2557 JP) is scheduled to start trading on the Tokyo Stock Exchange (TSE) on 16 December 2019 and will come with a management fee of just 0.07%.

North Shore Mining Uranium ETFs

North Shore and Exchange Traded Concepts partner on uranium mining ETF

Indexing boutique North Shore Indices and white-label ETF provider Exchange Traded Concepts have teamed up to launch an ETF providing targeted exposure to the global uranium mining sector. Listed on NYSE Arca, the North Shore Global Uranium Mining ETF (URNM US) offers a thematic play on nuclear power demand growth and uranium supply deficits. It is likely to appeal to investors who anticipate a comeback in the spot price of uranium. Tim Rotolo, CEO & Founder of North Shore Indices, said, “The fund represents a timely launch that will offer a broad range of investors access to a much-needed unique play on the uranium sector.”

Ryan Issakainen, Senior Vice President, ETF Strategist at First Trust.

First Trust launches trio of actively managed US multi-factor ETFs

First Trust has launched three new ETFs on NYSE Arca, providing actively managed, multi-factor exposure to large-, mid-, and small-cap equities listed in the US. The funds are based on a quantitative investment process that seeks to identify stocks with exposure to equity risk premia with specific stock selection managed by an investment committee. Ryan Issakainen, SVP & ETF Strategist at First Trust, said, “These actively managed ETFs harness First Trust’s expertise to target exposure to rewarded factor premiums, while also attempting to mitigate unintended biases and manage overall portfolio risk.”

Hany Rashwan, CEO of Amun

Amun partners with Sygnum on blockchain protocol ETP

Amun has partnered with digital asset bank Sygnum to launch the Amun Sygnum Platform Winners Index ETP (MOON SW) on SIX Swiss Exchange. The ETP provides access to a portfolio of crypto assets that are considered to be foundational protocols for the blockchain and the potential building blocks of the future digital asset economy. Hany Rashwan, Co-Founder and CEO, Amun, commented, “Our mandate is clear; to pioneer and deliver innovative and convenient digital asset indices via ETPs. This partnership with Sygnum further demonstrates our commitment to supporting the digital asset industry in these dynamic and exciting times.”

Fixed Income

BetaShares launches global ESG and green bond ETF on ASX

BetaShares launches ESG-screened global bond ETF on ASX

Sydney-based ETF issuer BetaShares has launched a new fixed income ETF, the BetaShares Sustainability Leaders Diversified Bond ETF – Currency Hedged (GBND AU), providing exposure to a globally diversified portfolio of ‘green’ and ESG-screened bonds. The ETF has been listed on the Australian Securities Exchange and is linked to the Solactive Australian and Global Select Sustainability Leaders Bond TR Index. It has been seeded by Future Super, a leading Australian retail superannuation fund.

Evolve Funds launches high-interest savings ETF in Canada

Evolve Funds launches high-interest savings ETF in Canada

Evolve Funds has unveiled a new actively managed ETF in Canada that seeks to maximize monthly income while preserving capital and liquidity by investing in high-interest deposit accounts. The Evolve High Interest Savings Account ETF (HISA CN) has listed on Aequitas NEO Exchange and comes with a management fee of 0.15%.

Alternatives / Multi-Asset

AT1 capital bonds: Accessing bank capital

AT1 capital bonds: Accessing bank capital

By the ETF research team at Invesco.

AT1 contingent convertible bonds (“AT1s”) are securities issued by financial institutions that generally carry higher yields than traditional fixed income securities.

WisdomTree launches Bitcoin ETP in Europe

Alexis Marinof, Head of WisdomTree Europe

WisdomTree has introduced its first cryptocurrency product with the launch of the WisdomTree Bitcoin ETP (BTCW SW). The ETP provides investors with exposure to the price movements of Bitcoin. It has been listed on SIX Swiss Exchange in US dollars and comes with an expense ratio of 0.95%. Alexis Marinof, Head of Europe, WisdomTree, commented, “We have been monitoring cryptocurrencies for some time and are excited to bring investors secure access to this developing asset class. We have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios.”

Commodities

SSGA celebrates fifteen years of SPDR Gold Shares ETF

SSGA celebrates fifteen years of the SPDR Gold Shares

State Street Global Advisors has celebrated the fifteenth anniversary of the SPDR Gold Shares (GLD US), the first US-listed ETF backed entirely by physical gold. Launched on 18 November 2004 on NYSE through a partnership with the World Gold Council, GLD solved an acute investor need for a liquid vehicle to access gold.

Gold ETF inflows strong in October

Gold ETF inflows strong in October

Global gold-backed ETFs (including ETPs) recorded $1.9 billion of net inflows in October, swelling their collective holdings by 44.4 tonnes to a new record high of 2,900t, according to World Gold Council.

Equities

BlackRock adds fossil fuels exclusion and issuer cap to SRI equity ETFs

BlackRock introduces low carbon, capped indices for SRI equity ETFs

BlackRock has tweaked the indices underlying its European domiciled range of SRI equity ETFs. The funds, which include global, US, Europe, Japan, and emerging market equity exposures, have switched from tracking straight MSCI SRI Indexes to MSCI SRI Select Reduced Fossil Fuel Indexes that additionally exclude firms with exposure to fossil fuels and cap any single stock at 5%. The changes have resulted in some noteworthy alterations to the funds’ portfolio exposures.

SSGA launches SPDR S&P 500 ESG Screened UCITS ETF

SSGA launches SPDR S&P 500 ESG Screened UCITS ETF

State Street Global Advisors has announced the launch of the SPDR S&P 500 ESG Screened UCITS ETF on Xetra, Euronext Amsterdam and Borsa Italiana. The fund is linked to the S&P 500 ESG Exclusions II Index and is aimed at investors who seek core US large-cap exposure whilst adhering to a responsible investment approach. Rebecca Chesworth, Senior ETF Strategist at SSGA, said, “We have developed a fund with exclusion criteria based on investor demand. The screens are based on the responsible policies of leading asset owners and aim to reduce reputational and idiosyncratic risks.”

Timothy Plan adds two new biblically responsible ETFs

Inspire Timothy Plan christian values biblically responsible etfs

Florida-based investment company Timothy Plan has expanded its range of biblically responsible funds with the launch of two new ETFs. The Timothy Plan US Small Cap Core ETF (TPSC US) and Timothy Plan International ETF (TPIF US) provide passive exposure to US small-cap and international developed equities, respectively, while screening out firms that do not comply with Christian principles. The ETFs have listed on NYSE Arca and come with expense ratios of 0.52%.

ETF and Index News

BMO’s European ETF retreat raises questions for industry

BMO to close European ETF business

BMO Global Asset Management is to withdraw from the European ETF market. In a letter to shareholders in its ETFs, the asset manager announced its intention to close all of its London-listed ETFs and cease managing ETFs domiciled in Europe. It said the decision was based on a variety of factors, including the current level of assets under management and projected asset growth in the current market environment. The ETF closures raise some important questions with respect to fund due diligence and issuer viability.

GSAM lists ETFs on Borsa Italiana

GSAM lists ETFs on Borsa Italiana

Goldman Sachs Asset Management (GSAM) has rolled out its three inaugural European-domiciled ETFs on Borsa Italiana. The Wall Street giant debuted the ETFs on LSE and subsequently cross-listed them onto Xetra and SIX Swiss. Two of the ETFs provide access to equity portfolios – US and EM – that have been weighted according to a multi-factor process. The third provides broad market exposure to Chinese government bonds. Loredana La Pace, GSAM’s Country Head in Italy, commented, “These investment tools, which are important for both retail and institutional clients, represent a significant addition to our international product range. We are very excited to be entering the Italian ETF market.”

LSE reports 10 new ETF listings in October

LSE reports 10 new ETF listings in October

Ten new ETFs or ETF share classes were listed on the London Stock Exchange in October 2019, according to the exchange’s latest ETP monthly update, taking the total number of ETF listings on the exchange to 1,245, available through 1,794 different share classes. ETF providers issuing products during the month included Amundi, DWS, Goldman Sachs Asset Management, Invesco, State Street Global Advisors, and UBS.