ALPS/RiverFront Strategic Income ETF (RIGS) - NYSEARCA
  • May 4, 2015, 11:00 AM
    • Contemplating his own demise having turned 70, Bill Gross (MUTF:JUCAX), suggests asset prices could be well past that age in "market years." If so, where is one to turn for returns? "An unconstrained portfolio and an unconstrained mindset comes in handy."
    • "The successful portfolio manager for the next 35 years will be one that refocuses on the possibility of periodic negative annual returns and miniscule Sharpe ratios and who employs defensive choices that can be mildly levered to exceed cash returns," says Gross, pointing to his recent idea of shorting German Bunds. Yielding around 0%, there's no cost of carry, and a return to 1% or 2% yields is surely inevitable (or not). Modestly levered, it's a 15-20% capital return ... timing uncertain.
    • ETFs: AGG, BND, BOND, SCHZ, LAG, DI, FBND, RIGS, SAGG, GBF, IUSB, LDUR, FWDB, VBND
    | May 4, 2015, 11:00 AM | 1 Comment
  • Apr. 27, 2015, 12:29 PM
    • "Funny how bonds were labeled 'certificates of confiscation' in the early 80s (the long bond yielded in the teens then)," tweets Bill Gross. "What should we call them now when many interest rates are negative," he adds.
    • Gross caused a bit of stir last week when he called German 10-year Bunds - then yielding about 10 basis points - the short of a lifetime, even better than the pound in 1993.
    • Previously: EU debt levels surge to records (April 21)
    • ETFs: AGG, BND, BOND, SCHZ, LAG, DI, FBND, RIGS, SAGG, GBF, IUSB, LDUR, FWDB, VBND
    | Apr. 27, 2015, 12:29 PM | 3 Comments
  • Apr. 16, 2015, 9:40 AM
    • The Big Short was Michael Lewis' classic about how some made billions shorting subprime mortgage-backed securities ahead of the financial collapse. Now hedge funder Paul Singer says he's found a bigger short in plain old bonds.
    • Speaking at the Grant's Spring Conference, Singer wonders "why bondholders persist in trusting that the central banks will be capable of creating just enough inflation and not a farthing more."
    • Further, why do bondholders believe - as the former Fed chair, now citizen blogger (and now with Ken Griffin's Citadel) has said - that central bankers can cure an inflation overshoot in "ten minutes."
    • Inflation, says Singer, is already perky if you hang around the same circles he does. "The roaring markets for financial assets, high-end real estate and art, and other things that investors and the rich own or use, should be seen for what it is: a modern and peculiar form of inflation which is sectorial and emerges from a modern and peculiar policy mix. And this is the coming attraction for a more generalized inflation of the future.."
    • ETFs: AGG, BND, BOND, BNDX, BWX, SCHZ, PLW, LAG, IGOV, GOVT, DI, FBND, RIGS, SAGG, GBF, IUSB, LDUR, TAPR, FWDB, VBND
    | Apr. 16, 2015, 9:40 AM | 2 Comments
  • Feb. 24, 2015, 12:50 PM
    • The SPDR DoubleLine Total Return Tactical ETF (NYSEARCA:TOTL) rolled out today by State Street (NYSE:STT) will invest in a broad portfolio of debt securities.
    • As an active ETF the fund will be managed by veteran fixed income investor, Jeff Gundlach, his team at DoubleLine Capital and State Street Global Advisors.
    • "DoubleLine obviously brings a history and proven track record of delivering superior risk-adjusted returns,” says James Ross, executive vice president and global head of SPDR ETFs at State Street Global Advisors.
    • Other total market fixed income ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, GBF, RIGS, DI, FBND, LDUR, FWDB, IUSB, VBND
    | Feb. 24, 2015, 12:50 PM | 3 Comments
  • Nov. 24, 2014, 11:18 AM
    • Potential bond buyers are set to spend a net $2.4T next year, but borrowers will issue just $2T, according to JPMorgan. It will be the fifth time in seven years demand has outpaced supply, including about a $500B gap this year.
    • What's going on here? Central banks. "There's really not been much supply hitting the market," says Nomura's George Goncalves. The ECB is set to buy about $400B in bonds next year, and the BOJ will add at least $700B, says JPMorgan. The BOJ owns about 20% of outstanding JGBs, and that proportion could rise to 50% as soon as 2018, according to the top economist at Japan Macro Advisors.
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, GBF, RIGS, DI, FBND, LDUR, FWDB, IUSB, VBND
    | Nov. 24, 2014, 11:18 AM | 2 Comments
  • Jun. 10, 2014, 3:47 PM
    • It may not be the top for fixed-income, but "Bond Market Shortfall of $460B Seen Boosting Debt Markets" is the sort of headline you won't see at the bottom. The article from Bloomberg takes note of a JPMorgan analysis expecting debt issued this year to fall $600M from 2013 to $1.8T, while demand increases to $2.26T.
    • Globally, bonds have returned 3.7% YTD, their best start to the year since 2003, according to the BAML Global Broad Market Index.
    • "Everybody was expecting supply to come down, but maybe it’s coming down sooner” than anticipated, says SEI Investment's Sean Simko. “There’s a shift in sentiment from the beginning of the year when everyone expected rates to move higher.”
    • ETFs: AGG, BOND, BND, SCHZ, LAG, SAGG, DI, GBF, RIGS, LDUR, FWDB
    | Jun. 10, 2014, 3:47 PM | 1 Comment
  • Mar. 5, 2014, 12:04 PM
    • The AdvisorShares YieldPro ETF (YPRO), a joint venture with The Elements Group, launched this morning.
    • This ETF will hold both long and short term fixed income investments, selected after a screening for yield, volatility, volume and relative strength.
    • Other multi asset bond ETFs: CVY, PCEF, CEFL, MDIV, IYLD, YYY, GYLD, DVHL, HGI, INKM, DVHI, YDIV, GCE, RIGS
    | Mar. 5, 2014, 12:04 PM
  • Dec. 12, 2013, 11:29 AM
    • The ETRACS Monthly Pay 2xLeverage Closed-End Fund ETN (CEFL) features a double-exposure strategy focused on closed-end funds and will shoot off a dividend of 19.4%.
    • This newest addition to the UBS lineup has been described as a double-exposure version of the YieldShares High Income ETF (YYY), which launched earlier this year and has a yield of 10.4%.
    • Other multi-asset ETPs: CVY, PCEF, MDIV, IYLD, GYLD, INKM, DVHL, GCE, DVHI, RIGS, YDIV
    | Dec. 12, 2013, 11:29 AM | 1 Comment
  • Oct. 8, 2013, 10:18 AM
    • Three years after going into registration with the SEC, the actively-managed ALPS RiverFront Strategic Income Fund (RIGS) is set to launch tomorrow.
    • The ETF will target a global portfolio of fixed-income paper with maturities ranging from 2 to 10 years, along with various ratings and currencies. The annual expense ratio is 0.22%.
    | Oct. 8, 2013, 10:18 AM
  • Jul. 15, 2013, 3:40 PM
    The ALPS-backed RiverFront Strategic Income Fund (RIGS) finally looks set for launch nearly 3 years after going into registration with the SEC. The global fixed-income ETF will be actively managed and have an annual expense fee of 0.22%. The strategy will one of income-generation by investing in both corporate and government paper of varying credit quality - both dollar and non-dollar denominated -  at various points along the yield curve. Will it give BOND a run for the money?
    | Jul. 15, 2013, 3:40 PM
RIGS Description
The investment objective of the Fund is to seek total return with an emphasis on income as the source of that total return. The Fund seeks to achieve its investment objective by investing in a global portfolio of fixed income securities of various maturities, ratings and currency denominations. The Fund intends to utilize various investment strategies in a broad array of fixed income sectors. The Fund will allocate its investments based upon the analysis of RiverFront Investment Group, LLC (“RiverFront”, or the “Sub-Adviser”) of the pertinent economic and market conditions, as well as yield, maturity and currency considerations.
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