State Street Self Index

State Street dumps FTSE Russell as its small and midcap index provider

State Street is bringing three of its mid/small cap ETFs back under in-house indexes, calculated by NYSE. They are:

  • SPDR Portfolio Total Stock Market ETF (SPTM), which will now track the SSGA Total Stock Market Index
  • SPDR Portfolio Large Cap ETF (SPLG), which will now track the SSGA Large Cap Index
  • SPDR Portfolio Small Cap ETF (SPSM), which will now track the SSGA Small Cap Index 

ETF Securities European business acquired by WisdomTree

ETF Securities is selling its European exchange-traded commodity, currency and short-and-leveraged business to WisdomTree Investments, the Nasdaq-listed fund manager for $611m. The European ETC platform run by ETF Securities has $17.5 billion of assets under management spread across 307 products, including the flagship physical gold products PHAU and GBS.

 

We understand that this transaction does NOT include either the European exchange traded funds business – called Canvas – nor the American or Australian business. Based on the announcement these would seem to be staying with a core ETF Securities business.

Taiwan

Paradigm lists leveraged oil ETFs

Taiwanese issuer Paradigm has listed two new ETFs in Taiwan that give inverse and leveraged exposure to oil futures. They are:

  • Paradigm S&P GSCI Brent Crude 2X Leveraged ER Futures ETF (00715L)
  • Paradigm S&P GSCI Brent Crude 1X Inverse ER Futures ETF (00716R) 

Listing leveraged commodity funds that use derivatives is quite common among Taiwanese issuers. Many other Taipei-based issuers have products that give similar exposure.

 

UK

PowerShares lists three fixed income ETFs on the London Stock Exchange

Invesco PowerShares is listing three new fixed income ETFs on the LSX. They are: 

  • PowerShares USD Corporate Bond UCITS ETF (PUIG), which tracks the Bloomberg Barclays USD IG Corporate Liquidity Screened Bond Index.
  • PowerShares Euro Corporate Bond UCITS ETF (PSFE), which tracks the Bloomberg Barclays Euro Corporate Bond Index
  • PowerShares Emerging Markets USD Bond UCITS ETF (PEMD), which tracks the Bloomberg Barclays Emerging Markets USD Sovereign Index 

Expense ratios for PUIG and PSFE are 0.16%, PEMD’s expense ratio is 0.35%. We hope to update this as more information becomes available