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Renaissance Launches International IPO ETF (IPOS)

This week, Wall Street got off to yet another sour start, with major equity indexes closing in the red. On Wednesday, stocks took a small breather after two straight down days. The third quarter earnings season also kicked off this week, with aluminum producer and bellwether Alcoa (AA) posting its results on Wednesday after the closing bell [see also Under the Hood of the Internet ETF (FDN)]. Also this week, Renaissance Capital, the creator of the IPO ETF (IPO), launched its second ETF. The International IPO ETF Last year, Renaissance Capital introduced its first exchange traded product, the IPO ETF (IPO), which thus far has accumulated over $30 million in total assets under management. On Monday, the issuer’s newest ETF–the International IPO ETF (IPOS)–made its debut. Commenting on the launch of the new fund, Chairman of Renaissance Capital Kathleen Smith stated “The launch of the Renaissance International IPO ETF, responds to investor demand for […]

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State Street Launches First Active Fund (RORO); First Trust and PowerShares Launch 2 Funds (FTLS, LDRI)

U.S. equities got off to a sour start this week, with Monday and Tuesday seeing major indexes end in the red. Stocks finally stabilized on Wednesday, even though economic data came in worse-than-expected: wholesale inventories rose 0.1% in July versus analyst expectations of a 0.5% rise. In corporate news, all eyes were on Apple after the company unveiled its latest models of its iPhone as well as its new iWatch [see also Under the Hood of the Internet ETF (FDN)]. On the ETF front, State Street debuted its first actively managed fund. First Trust also launched an active long-short ETF, while PowerShares introduced its new “laddered” bond fund. A “Risk Aware” Fund State Street’s new actively managed SPDR SSgA Risk Aware ETF (RORO) aims to provide investors with a way to capitalize on risk-on and risk-off fluctuations in the U.S. equity market, essentially providing competitive returns compared to the broad U.S. equity […]

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FlexShares Launches New Mortgage-Backed Securities Fund (MBSD)

Wall Street kicked off the month of September on a mixed note, with equities taking a slide on Tuesday following Labor Day; historically, September has always been a bad month for stock markets. Investors have been keeping a close eye on Europe in recent months, especially focusing on conflicts between Ukraine and Russia [see Annual GDP Growth: A Good Predictor of Single-Country ETF Returns?]. On Thursday, however, investors weighed an unexpected decision from the European Central Bank. The ECB announced that it has lowered all its interest rates, and that the central bank would buy asset-backed securities and covered bonds to spur the economy.  On the home front, U.S. jobless claims rose by 4,000 to 302,000, slightly above the expected 300,000. Private sector payrolls also came in below expectations, rising to 204,000 in August vs. the estimated 215,000.  In ETF news, FlexShares announced its launch of a new mortgage-backed securities fund. A […]

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FlexShares Launches New Mortgage-Backed Securities Fund (MBSD)

Wall Street kicked off the month of September on a mixed note, with equities taking a slide on Tuesday following Labor Day; historically, September has always been a bad month for stock markets. Investors have been keeping a close eye on Europe in recent months, especially focusing on conflicts between Ukraine and Russia [see Annual GDP Growth: A Good Predictor of Single-Country ETF Returns?]. On Thursday, however, investors weighed an unexpected decision from the European Central Bank. The ECB announced that it has lowered all its interest rates, and that the central bank would buy asset-backed securities and covered bonds to spur the economy.  On the home front, U.S. jobless claims rose by 4,000 to 302,000, slightly above the expected 300,000. Private sector payrolls also came in below expectations, rising to 204,000 in August vs. the estimated 215,000.  In ETF news, FlexShares announced its launch of a new mortgage-backed securities fund. A […]

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New Issuer WBI Shares Debuts 10 ETFs

Wall Street saw the S&P 500 Index logging in its first ever above-2,000 close this week, setting a new milestone in the stock market’s recent bull run. Also this week, investors digested several economic reports. Orders for durable goods surged 22.6% in July from the prior month, well above analyst expectations of 7.5% (but driven mostly by airplane orders). In addition, the S&P/Case-Shiller index rose 8.1% in June, slightly below expectations [see How the S&P 500 Reacts to Unemployment Reports]. On the ETF front, a new issuer made its Wall Street debut, launching 10 new exchange traded funds, which began trading on Wednesday, August 27.  WBI Shares WBI Shares is partnered with WBI Investments, a New Jersey-based firm that provides institutional and private client wealth management solutions. According to its website, WBI Shares specializes in offering innovative actively managed ETFs, which focus on providing “consistent, attractive returns, net of expenses, with potentially […]

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