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By Fund Library News Wire  | Friday, October 14, 2016

By Mike Keerma

* Markets fade on Yellen’s ‘high pressure’
* NEI launches demographic-focused fund.
* Sphere debuts sustainable yield index ETF.
Vanguard introduces Asia Pacific and Europe ETFs.
* First Trust introduces sector rotation ETF.

A 1.5% rise in the price of crude oil helped keep Toronto’s benchmark S&P/TSX Composite Index just above breakeven on the week, while the U.S. blue-chip benchmarkS&P 500 Composite Index and the Nasdaq Composite Index both lost ground for the second week in a row as Federal Reserve Chairwoman Janet Yellen affirmed the central bank’s dovish stance in remarks on Friday.

In a speech at a Boston Fed conference on Friday, Yellen mused that temporarily running “high pressure economy” with inflation above the Fed’s 2% target and a tight labour market might help boost the “not so great recovery” by stimulating demand. She acknowledged this would be difficult to quantify and that there may be better policies to deal with sluggish growth.

In company news, Samsung Electronics Co. Ltd. said it expects to lose about US$3 billion in operating profit over the next two quarters as a result of its defective Galaxy Note 7 smartphone, raising its total forecast loss to US$5.3 billion. Apple Inc. (NASDAQ: AAPL), Samsung’s main competitor in the smartphone market, has seen its share price rise 14% since Sept. 5, as investors expect Apple to take a bite out of Samsung’s market share.


* NEI launches demographic-focused fund. NEI Investments launched its NEI Generational Leaders Fund, which is sub-advised by Amundi Asset Management Limited. The fund looks for investments that can benefit from rapidly aging populations, in the 65-80+ age groups, focusing in the areas of wealth, longevity, lifestyle and personal care.

* Sphere debuts sustainable yield index ETF. Sphere Investments launched its Sphere FTSE Emerging Markets Sustainable Yield Index ETF (TSX: SHZ), a currency hedged, smart beta emerging markets ETF that “will offer investors protection against international currency exposure, while delivering excellent value backed by FTSE's leading index methodology,” according to Keith McLean, President & Chief Investment Officer, Sphere Investments. The fund aims to track the performance of the FTSE Emerging Sustainable Yield 150 10% Capped 100% Hedge CAD Index and invests directly or indirectly in up to 150 emerging market stocks.

* Vanguard introduces Asia Pacific and Europe ETFs. Vanguard Investments Canada launched two new ETFs that aim to provide currency hedged exposure to developed Asia Pacific and European markets and that follow all-capitalization benchmarks that include large-, mid-, and small-capitalization stocks.

Vanguard FTSE Developed Asia Pacific All Cap Index (CAD-hedged) ETF (TSX: VAH) currently aims to track the performance of the FTSE Developed Asia Pacific All Cap Hedged to CAD Index, and has an MER of 0.20%.

Vanguard FTSE Developed Europe All Cap Index (CAD-hedged) ETF (TSX: VEH) currently tracks the FTSE Developed Europe All Cap Hedged to CAD Index, and carries and MER of 0.20%.

* First Trust introduces sector rotation ETF. FT Portfolios Canada Co. announced its First Trust Dorsey Wright Dynamic U.S. Sector Rotation Index ETF (CAD-Hedged) (TSX: FSR) , which tracks Nasdaq’s Dorsey Wright Dynamic U.S. Sector Focus Five Index. According to First Trust, the index uses a rules-based U.S. sector rotation strategy using relative strength signals to provide equal-weighted exposure to five First Trust TSX-listed U.S. sector index ETFs representing the strongest U.S. sectors based on relative strength.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.


© 2016 by Fund Library. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited.

The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

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