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Guggenheim Yuan Bond ETF (RMB)

- NYSEARCA
RMB is defunct since June 14, 2013. Closed due to lack of investor interest
  • Tue, Mar. 24, 6:44 AM
    • Concord Medical Services Holdings (CCM +1.8%) Q4 results (NYSEARCA:RMB): Revenues: 160.3M (-8.3%); COGS: 73.3M (+30.2%); SG&A: 38.1M (-41.5%); Operating Income: 48.8M (-8.4%); Net Income: 28.1M (+155.5%); Earnings/ADS: $0.24 (-62.5%).
    • FY2014 results: Revenues: 606.9M (+7.8%); COGS: 274.6M (+26.1%); SG&A: 148.7M (-21.4%); Operating Income: 183.6M (+17.5%); Net Income: 124.7M (+44.5%); Earnings/ADS: 2.76 (+46.0%); Quick Assets: 478.7M (+69.2%).
    • No guidance given.
    | 1 Comment
  • Nov. 26, 2014, 7:24 AM
    • China Cord Blood Corp. (CO +2.8%) FQ2 results (NYSEARCA:RMB): Revenues: 152.1M (+7.4%); Gross Profit: 121.8M (+6.6%); Operating Income: 57.5M (+2.1%); Net Income: 27.2M (+9.2%); EPS: 0.35 (+6.1%); Quick Assets: 2,156.5M (14.5%); CF Ops: 171M (+41.3%).
    • No guidance given.
    | Comment!
  • Nov. 18, 2014, 6:58 AM
    • Concord Medical Services Holdings (CCM -2.9%) Q3 results (NYSEARCA:RMB): Revenues: 265.7M (+13.5%); COGS: 177.1M (+21.2%); Operating Income: 56.5M (+24.4%); Net Income: 34.5M (+30.2%); Earnings/ADS: 0.72 (+22.0%); Quick Assets: $247M (-12.7%); Adjusted EBITDA: 111.4M (+9.4%).
    • 2014 Guidance: Earnings per ADS: $0.45 - 0.50; net income: $20.3M - 22.5M.
    | Comment!
  • May. 23, 2013, 3:17 AM
    China PMI shrinks for the first time in seven months, dropping to 49.6 from 50.4 in April, missing expectations. HSBC, who collect the data, didn't mince words in an appeal to Beijing: "The cooling manufacturing activities in May reflected slower domestic demand and ongoing external headwinds. A sequential slowdown is likely in the middle of Q2, casting downside risk to China's fragile growth recovery. Moreover, the further signs of labor market slackness call for more policy support. Beijing still has fiscal ammunition to do so." ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF; BONDS: RMB, DSUM, CHLC, CNY, CYB, FXCH
    | 1 Comment
  • May. 20, 2013, 8:22 AM
    Guggenheim announces the closing of its Chinese Yuan bond ETF (RMB), effective June 14 as the fund failed to generate significant investor interest since its 2011 launch. The fund’s May dividend distribution will be suspended which should maximize the amount shareholders will receive at liquidation on or about June 21st.
    | Comment!
  • Apr. 16, 2013, 1:05 PM
    China's local government debt is "out of control," says Zhang Ke, head of a top Chinese accounting firm, and it could spark a bigger crisis than the U.S. property crash. He says his firm has mostly exited from the business of underwriting local government bond issues as the municipalities cannot service the debt they are taking on. "Things could become very serious."
    | 8 Comments
  • Nov. 29, 2012, 5:58 AM
    S&P affirms China's sovereign long-term rating at "AA-" and its outlook at stable, citing "strong economic growth potential, (a) robust external position, and the government's relatively healthy fiscal position." Despite the conservative nature of China's new Politburo Standing Committee, S&P reckons that "efforts toward deepening structural and fiscal reforms are likely to continue."
    | Comment!
  • Nov. 1, 2012, 3:34 PM
    Yield-starved investors are moving assets into emerging-market corporate debt ETFs, and the industry responds by upping the number of products offered to 10 from just 3 at the end of 2011. There's still plenty of room for growth - in total, such ETFs (a selection here) have about $1B AUM with the size of the EM corporate debt market at $776B. The largest U.S. corporate debt ETF, LQD alone has about $25B AUM.
    | Comment!
  • Aug. 17, 2012, 8:01 AM
    Fascinating research from BCA shows the divergence of late between Chinese stocks (down) and corporate bond spreads (getting tighter). Such is not the case in America or in Europe where equity prices and bond spreads move in lockstep. Has an opportunity arisen in beaten-down Chinese shares?
    | 2 Comments
  • Jun. 27, 2012, 4:54 PM
    The collapse of a property developer in Hangzhou causes a mini-financial meltdown in the city and shines more light on so-called "credit guarantees," reminiscent, says Patrick Chovanec, of the circular arrangements common on Wall Street prior to 2007. Chovanec may be doing disservice to China, which appears to have outdone anything concocted in the U.S. during its credit bubble.
    | Comment!
  • May. 1, 2012, 10:10 PM
    "Why did 10-year Treasurys yield 14% under the vice-like grip of iron-man Volcker, but yield just 1.8% under ... Weimar-like Bernanke," asks Hugh Hendry, defining his weapons in the global macro business as irony and paradox. Hendry's latest investor letter describes China's epic, credit-fueled binge, and why the crisis that started in the U.S. and moved to Europe, is about to end in Asia - and how he's playing it by buying CDS on Japanese corporations.
    | 6 Comments
  • Apr. 30, 2012, 11:19 PM
    China's official April PMI rises to 53.3 vs. expectations of 53.5 and 53.1 previously. The print is well above last week's HSBC "flash" PMI of 49.1 (HSBC's final April read will be released tomorrow).
    | 2 Comments
  • Apr. 27, 2012, 5:03 AM
    China's industrial profits rose 4.5% in March, recovering from a January-February decline, and were down 1.3% Y/Y for the quarter.
    | Comment!
  • Apr. 26, 2012, 7:35 AM
    Included in Volvo's (VOLVY.PK) mostly upbeat earnings report, is an expected 15-25% drop in the market for construction equipment in China. The company had previously guided for a flat 2012 in China. Volvo becomes the 3rd heavy equipment maker in 2 days to warn on slowing in China.
    | Comment!
  • Apr. 19, 2012, 11:36 AM
    China moves to allow domestic funds to introduce yuan-denominated equity ETFs in Hong Kong, affording offshore investors the opportunity to use yuan to invest in mainland markets. It's not the first move this year suggesting Beijing's interest in funneling investor dollars towards the country's stock markets.
    | 3 Comments
  • Apr. 17, 2012, 4:49 PM
    HSBC is marketing a yuan-denominated bond to be listed in London, part of a move to expand "dim sum" bonds beyond Hong Kong, where the vast majority of them are traded. Earlier, the LME said it may allow its members to clear contracts in yuan.
    | Comment!
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RMB Description
The Guggenheim Yuan Bond ETF (NYSE:RMB) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of a Yuan bond index called the AlphaShares China Yuan Bond Index. The Index is a rules-based index comprised of, as of August 31, 2011, approximately 37 securities. The securities in the Index are bonds that are eligible for investment by U.S. and other foreign investors and denominated in Chinese Yuan, whether issued by Chinese or non-Chinese issuers and traded in the secondary market, a market commonly referred to as the “Dim Sum” bond market. The Index was created by AlphaShares, LLC, the index provider. The Fund will not invest in securities traded in mainland China. The Fund will invest at least 80% of its total assets in fixed income securities that comprise the Index.
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Country: China
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