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Weekly Newsletter

Summary

Globally, 29 new ETFs/ETPs were listed and there were 68 new cross-listings during the week of October 3nd.

Welcome to the October 23rd edition of the ETFGI Newsletter, covering: People and Industry news in the Global ETF industry/ ecosystem and upcoming events.

Visit our website to find out more about who we are and the services we offer.

ETFGI WEEKLY NEWSLETTER


October 23, 2017

Welcome to the October 23rd edition of the ETFGI Newsletter, covering: People and Industry news in the Global ETF industry/ ecosystem and upcoming events.

 

Please send your press releases on people and industry news or any relevant comments to info@etfgi.com. If you have any colleagues who you think could benefit from receiving their own digital edition of the ETFGI Newsletter, please forward this email to them so they can register for their own copy. Click here

 

Globally, 29 new ETFs/ETPs were listed and there were 68 new cross-listings during the week of October 3nd.

PEOPLE NEWS

If you have any “people news”you would like to contribute, please email info@etfgi.com.

There is currently ongoing recruiting for over 540 ETFs positions around the world. The majority of open positions are for sales/business development roles followed by marketing roles.  

United States

·        

Bruce Lavine Joins Astoria as Senior Strategy Advisor

o  

Astoria Portfolio Advisors LLC ("Astoria"), a firm dedicated to building superior ETF based portfolios for financial advisors and their clients using sophisticated macro and quantitative research, named Bruce Lavine as Senior Strategy Advisor.

o  

Mr. Lavine has a long history in the ETF and asset management business beginning with Barclays Global Investors over 20 years ago. He was one of the earliest employees at iShares and had roles including CFO, Head of Product Development and CEO of iShares Europe. In 2006, Bruce joined WisdomTree as President and Chief Operating Officer. He was there for 10 years as an employee and remains active with WisdomTree today as a member of their Board of Directors. Most recently, Bruce was the CEO of 55 Capital.

o  

Link to the news’ source

  • Axioma adds former BlackRock exec 
    • Risk management company Axioma has announced the election of a former senior executive from BlackRock to its board of directors. Blake Grossman was formerly the vice-chair of the world's largest asset manager BlackRock and formerly chief executive of Barclays Global Investors.
    • Link to the news’ source

   Congratulate Benno Meier for starting a new position as Managing Director at Goldman Sachs. 

Previously he was Managing Director at Morgan Stanley. Linkedin.

 Congratulate Brad Kotler for starting a new position as Fixed Income ETF Sales/Analytics at State Street.  Previously he was ETF Trader at Cantor Fitzgerald. Linkedin.

       Congratulate Paul Lee for starting a new position as Associate Director at S&P Dow Jones Indices in New York. Previously he was Senior Manager - QA at S&P Dow Jones Indices. Linkedin.

Europe

  London Stock Exchange CEO Rolet to step down next year.Investment Week Xavier Rolet, CEO of London Stock Exchange Group, has announced he will leave the role by the end of December 2018.Read more.

  Names in the frame to lead the London Stock Exchange.FinancialNewsFN spoke with analysts, bankers, consultants and trading industry executives to outline potential successors to outgoing CEO Xavier Rolet- Lee Hodgkinson, Mark Makepeace and Kay Swinburne. Read more.

 

      Congratulate Benjamin SZAKAL for starting a new position as ETF Trader at JPMorgan Chase & Co. Previously he was ETF Trader at Morgan Stanley. Linkedin.

  Congratulate Jack Nichols for starting a new position as Trader Program and single stock trading global equities and execution in investment grade bonds at CitiPrivateBank.Previouslyhe was Dealer at Coutts. Linkedin.

   Congratulate Jacques Lemoisson for starting a new position as Head of Investment Products at BanqueCramer.Previously he was Head Global Macro & Equity Advisory - ETF strategist at Lombard OdierGroup.Linkedin.

 

   Rob Rushe joins BNY Mellon from State Street as European ETF Executive

o  

In his role as European ETF Executive, Rushe will lead and execute the long-term growth in BNY Mellon’s European ETF platform. He will play a vital role in delivering enterprise-wide ETF solutions to the marketplace to support continued regional growth of the ETF segment.

o  

Rushe’s appointment follows BNY Mellon’s ETF re-structuring earlier this year. This included the hiring of Jeffrey McCarthy into a newly created firm-wide ETF leadership role, London-based Scott Coey to the new position of head of relationship development for ETF and structured products in Europe the Middle East and Africa, and Bob Humbert, ETF Strategy, who joined with ETF experience from both Citi and Nasdaq.

o  

Link to the news’ source

 

Treasury Committee to probe diversity at central bank and City.Financial News.MPs will examine how the City and Treasury have acted upon calls to improve diversity at the top of finance. Read more.

Canada

Congratulate Thomas Lee, CIM for starting a new position as AVP, Business Development at First Trust Portfolios Canada. Previously he was Regional Sales Manager at First Trust Portfolios Canada.Linkedin.

Asia Pacific

    Congratulate Alan Ersoy for starting a new position at Portfolio Trading at UBS in Hong Kong. Previously he was Portfolio Trading at Macquarie Group.Linkedin.

    Congratulate Ji Su Lee for starting a new position as Securities Lending at Deutsche Bank Hong Kong. Previously she was Delta One Trading at Nomura. Linkedin.

Africa

    Congratulate Quintus Kilbourn for starting a new position as Head of Equities at Absa/Barclays Africa Group. Previously he was Head of Institutional Distribution at Barclays Africa Group Limited.Linkedin.

FEATURED NEWS

New report has been published - the ETFGI Institutional users of ETFs and ETPs 2016 report service.ETFGI’s Institutional Users of ETFs and ETPs report examines the use of exchange-traded funds (ETFs) and exchange-traded products (ETPs) by institutional investors globally from 2009 through 2016.Read more and subscribe.

INDUSTRY NEWS

If you are interested in having your “industry news” listed here, please contact info@etfgi.com.

Treasure map of the ETF world revealed |Financial Times.Read more.

 

Three in ten institutional investors make more than 50 ETF trades a month – study |Financial Times.Read more.

United States

News

·        

Schwab Reports Record Quarterly Net Income of $618 Million, Up 23%

o  

The Charles Schwab Corporation announced today that its net income for the third quarter of 2017 was a record $618 million, up 7% from $575 million for the prior quarter, and up 23% from $503 million for the third quarter of 2016. Net income for the nine months ended September 30, 2017 was $1.8 billion, up 29% from the year-earlier period.

o  

Link to the news' source

  • RobustWealth Partners with Apex Clearing to Offer Inclusive, Low-Cost ETF Trading
    • RobustWealth, a digital wealth management platform designed by and for investmentadvisors, announced today a new partnership with Apex Clearing.

 

o  

The partnership bolsters RobustWealth's platform and enables trading of ETFs, mutual funds and U.S. stocks included in the platform fee, as well as a rapid client onboarding experience, account linking, same-day funding and easy-to-use bank transfers. As part of RobustWealth's BaseCAMP suite, advisors' clients will continue to benefit from the sophisticated rebalancing and trading of their goal-&-risk based portfolios in a completely private-labeled environment.

o  

Link to the news’ source

·        

Stash To Launch Banking Services Platform Early 2018

o  

Stash, announced its plan to launch mobile-first banking services to help millions of Americans who need support managing their day-to-day money and reaching their dreams of financial security and prosperity. The personalized banking experience will use new technology, data and simple recommendations to lead clients on a path toward healthy financial habits.

o  

The banking service is the newest product in the Stash portfolio. Together with Invest and Retire, the Stash Platform gives everyone access to the tools and education needed to save and invest in their financial futures.

o  

Link to the news’ source

·        

TD Ameritrade to Offer Largest Commission-Free ETF Program with Expanded 296 ETF Lineup

o  

TD Ameritradeannounced a major expansion and upgrade of its commission-free exchange-traded funds (ETF) trading program, tripling the number of ETFs to 296 from 100, effective this week. The firm will offer the most commission-free ETFs in the industry as well as the largest selection of non-proprietary, commission-free ETFs.

o  

Through the upgraded TD Ameritrade commission-free ETF program, registered investment advisor (RIA) and individual investor clients will have access to non-proprietary, low-cost ETFs from eight leading providers:AGFiQQuantShares, PowerShares, ProShares, iShares, SSGA, J.P. Morgan, WisdomTree.

o  

Link to the news’ source

·        

SSGA announced changed changes to the names, fees and tickers of 15 ETFs now included in the suite of SPDR Portfolio ETFs. Effective October 16, 2017, the below changes will be made and no action is required by shareholders to effect these changes.

Previous Name and Ticker

Previous Total ER

New Name and Ticker

New Total ER

SPDR Russell 3000® ETF (THRK)

0.10%

SPDR Portfolio Total Stock Market ETF (NYSEARCA:SPTM)

0.03%

SPDR Russell 1000® ETF (ONEK)

0.10%

SPDR Portfolio Large Cap ETF (NYSEARCA:SPLG)

0.03%

SPDR S&P 1000® ETF (SMD)

0.10%

SPDR Portfolio Mid Cap ETF (NYSEARCA:SPMD)

0.05%

SPDR Russell 2000® ETF (TWOK)

0.10%

SPDR Portfolio Small Cap ETF (NYSEARCA:SPSM)

0.05%

SPDR S&P 500 Growth ETF (SPYG)

0.15%

SPDR Portfolio S&P 500 Growth ETF (SPYG)

0.04%

SPDR S&P 500 Value ETF (SPYV)

0.15%

SPDR Portfolio S&P 500 Value ETF (SPYV)

0.04%

SPDR S&P 500 High Dividend ETF (SPYD)

0.12%

SPDR Portfolio S&P 500 High Dividend ETF (SPYD)

0.07%

SPDR S&P® World ex-US ETF (GWL)

0.34%

SPDR Portfolio World ex-US ETF (NYSEARCA:SPDW)

0.04%

SPDR S&P Emerging Markets ETF (GMM)

0.59%

SPDR Portfolio Emerging Markets ETF (NYSEARCA:SPEM)

0.11%

SPDR Bloomberg Barclays Aggregate Bond ETF (BNDS)

0.08%

SPDR Portfolio Aggregate Bond ETF (NYSEARCA:SPAB)

0.04%

SPDR Bloomberg Barclays Long Term Corporate Bond ETF (LWC)

0.12%

SPDR Portfolio Long Term Corporate Bond ETF (NYSEARCA:SPLB)

0.07%

SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF (ITR)

0.12%

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB)

0.07%

SPDR Bloomberg Barclays Short Term Corporate Bond ETF (SCPB)

0.12%

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB)

0.07%

SPDR Bloomberg Barclays Long Term Treasury ETF (TLO)

0.10%

SPDR Portfolio Long Term Treasury ETF (NYSEARCA:SPTL)

0.06%

SPDR Blo Barclays Short Term Treasury ETF (SST)

0.10%

SPDR Portfolio Short Term Treasury ETF (SPTS)

0.06%

·        

Coinciding with the launch of the SPDR Portfolio ETF suite, SSGA is introducing three new proprietary indices to provide investors with diversified exposure to the U.S. large cap market, U.S. small cap market and the total U.S. equity market, encompassing stocks of all market capitalizations. The following index changes are effective November 16, 2017:

Fund Name and Ticker

Previous Benchmark Index

New Benchmark Index

SPDR Portfolio Total Stock Market ETF (SPTM)

Russell 3000 Index

SSGA Total Stock Market Index

SPDR Portfolio Large Cap ETF (SPLG)

Russell 1000 Index

SSGA Large Cap Index

SPDR Portfolio Small Cap ETF (SPSM)

Russell 2000 Index

SSGA Small Cap Index

·        

WisdomTreeTo Offer 72 ETFs on TD Ameritrade’s Expanded Commission-Free ETF Trading Platform

o  

WisdomTree (NASDAQ:WETF), an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager, today announced that 72 of its U.S.-listed ETFs will be added to TD Ameritrade’s expanded commission-free ETF trading platform, effective tomorrow. 

o  

TD Ameritrade’s commission-free ETF program will provide registered investment advisor (RIA) and individual investor clients access to nearly 300 non-proprietary ETFs.

o  

A complete list of the WisdomTree ETFs available on the TD Ameritrade platform is available here.

o  

Link to the news’ source

·        

Principal Global Investors to Ring TheNasdaq Stock Market Opening Bell in Celebration of the Launch of its U.S. Mega-Cap Multi-Factor Index ETF (USMC)

o  

Principal Global investors, the asset management arm of Principal Financial Group, Inc., a firm that helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions, will visit the NasdaqMarketSite in Times Square in celebration of the launch of its U.S. Mega-Cap Multi-Factor Index ETF (USMC).

o  

In honor of the occasion, Paul Kim, Managing Director, ETF Strategy, will ring the Opening Bell. 

o  

Link to the news’ source

·        

Vienna Stock Exchange as one-stop-shop: New ETF segment launching today

o  

60 ETFs in continuous trading on the Vienna Stock Exchange

o  

The Vienna Stock Exchange is further expanding its range of offerings for domestic investors with the new "ETF segment" launching today.

o  

Investors now have access to a range of 60 ETFs on the Vienna Stock Exchange focusing on Europe and the US, including all available ETFs on the Austrian leading index, the ATX.

o  

Global demand for the 60 exchange-traded passive funds created by nine different providers has been increasing, thanks to their inexpensive cost structure and transparency. All 60 ETFs can be traded from 9.00 a.m. to 5.30 p.m. in continuous trading. Lang & Schwarz act as market makers and guarantee competitive prices and constant price discovery by permanently entering binding quotes.

o  

Starting in 2018, the Vienna Stock Exchange plans to add ETFs from new geographical regions and sectors.

o  

Link to the news' source

Closures and Index Changes N/A

News

  • CoinShares launches CoinShares Research
    • Ryan Radloff, principal at CoinShares, reports that their new Ethereum based products, Ether Tracker One and Ether Tracker Euro, have passed the USD10 million line in assets under management, just a week after beginning trading on Nasdaq Stockholm.
    • In an effort to service this new wave of investors who are requesting professional asset research, CoinShares Research is launching analyst coverage on Ethereum and its native token, ether.
    • The CoinShares platform is home to a cryptocurrencies multi-strategy offering of investment vehicles; a family which now represents more than USD350 million in crypto assets under management.
    • Link to the news’ source
  • UBS: Attention from regulators is good for ETFs Financial News. The head of passive and ETF specialist sales for Europe at UBS Asset Management believes more regulatory scrutiny could provide a boost. Read more.
  • New Vanguard platform drives UK passive fund salesFinancial News Vanguard’s newly-launched UK online retail platform has contributed to a significant uptick in passive fund sales during the past six months, a report has claimed.Read more.

Canada

News

·        

IGM to merge Mackenzie, IG’s investment-management groupsBy IE Staff.Read more.

o  

Mackenzie will provide mutual funds for Investors Group's advisors, Mackenzie's distribution channels and the clients they serve

·        

AGF Changes Name of QuantShares ETFs to AGFiQ ETFs

o  

AGF Investments Inc. (AGF) today announced that its lineup of QuantShares Exchange Traded Funds (ETFs) has been renamed to AGFiQ ETFs to bring greater alignment across its brands.  

o  

AGFiQ’s team of investment professionals builds portfolios with an emphasis on factor-driven investing. While our multi-factor approach allows for intelligent portfolio construction that provides opportunities for total return while also actively managing risk and the potential for losses.

o  

There will be no changes to the investment objectives, strategies or management of these ETFs.

o  

The ETFS will begin trading under their new name on November 2, 2017.

o  

The following table illustrates the upcoming changes to the ETF names and CUSIP numbers. All tickers remain unchanged.         

Current Name

New Name

CUSIP

QuantShares Enhanced Core Canadian Equity ETF (QCD)

AGFiQ Enhanced Core Canadian Equity ETF

00848G100

QuantShares Enhanced Core US Equity ETF (QUS)

AGFiQ Enhanced Core US Equity ETF

00850E100

QuantShares Enhanced Core International Equity ETF (QIE)

AGFiQ Enhanced Core International Equity ETF

00851M101

QuantShares Enhanced Core Emerging Markets Equity ETF (NYSEARCA:QEM)

AGFiQ Enhanced Core Emerging Markets Equity ETF

00850F107

QuantShares Global Equity Rotation ETF (QGL)

AGFiQ Global Equity Rotation ETF

00110J105

QuantSharesMultiAsset Allocation ETF (QMA)

AGFiQMultiAsset Allocation ETF

00111B101

QuantSharesMultiAsset Income Allocation ETF (QMY)

AGFiQMultiAsset Income Allocation ETF

00111A103

o  

AGF will also announce similar name changes to their U.S.-based ETF line-up.

o  

Link to the news’ source

 

·        

RBC Global Asset Management Opens the Market

o  

Trevor Cummings, Head, Business Development, ETFs, RBC Global Asset Management, joined UngadChadda, President, Capital Formation, Equity Capital Markets, TMX Group, to open the market to launch five new Exchange Traded Funds (ETFs):  RBC 6-10 Year Laddered Canadian Corporate Bond ETF (RMBO); RBC BlueBay Global Diversified Income (CAD Hedged) ETF (RBDI); RBC Canadian Bank Yield Index ETF (RBNK); RBC PH&N Short Term Canadian Bond ETF (RPSB); and RBC Short Term U.S. Corporate Bond ETF (RUSB). RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC), and includes institutional money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RMBO; RBDI; RBNK; RPSB; and RUSB; commenced trading on Toronto Stock Exchange on October 19, 2017.

  • Institutional investors key to driving increase in women on boards: report.InvestmentExecutive.Readmore.By Canadian Press | Friday October 20, 2017
    • The Ontario Securities Commission is set to hold a roundtable on women on boards and in executive positions on Oct. 24
  • At a glance: Ottawa’s tax proposal tweaks. Investment Executive. A look at the changes to income sprinkling, passive investment income and converting income into capital gains. Read more.