Amplify ETFs launched an index-based ETF that seeks exposure to international companies expected to benefit from the increased adoption of e-commerce around the world.
The Amplify International Online Retail ETF (XBUY) is a complementary product to the firm’s flagship Online Retail ETF (IBUY). Companies in XBUY’s portfolio fall within the same three e-commerce business segments: marketplace, traditional retail and travel.
“Many of the fastest growing e-commerce markets reside outside of the U.S., primarily in developing countries where mobile devices are stoking demand,” said Christian Magoon, CEO of Amplify ETFs, in a statement. “XBUY presents a compelling opportunity for investors to capitalize on this international growth, a segment where 80% of total online retail sales in 2018 were from countries outside the U.S.”
XBUY seeks investment results that generally correspond to the EQM International Ecommerce Index (XBUYXT). The rules-based index is comprised of a diverse group of non-U.S. companies that generate at least 90% of their revenue from online and virtual retail sales.
XBUY has an expense ratio of 0.69%.
RBC Global Asset Management Reduces Fees for Access Capital Community Investment Fund
RBC Global Asset Management announced fee reductions and a new share class for the Access Capital Community Investment Fund, a fixed income fund providing impact investing opportunities to US investors.
Effective March 11, 2019, RBC GAM will reduce the net expense ratio for ACASX (A-Share) by 15 basis points — from 1.07% to 0.92% — and for ACCSX (I-Share) by 16 basis points — from 0.73% to 0.57%.
RBC GAM has also revised its expense limitation agreement effective March 11 by capping its operating expenses (excluding interest expense) as follows: 0.80% for A-Share and 0.45% for I-Share.
With these changes, RBC GAM will reduce fees for all Access Capital Community Investment Fund shareholders.
Additionally, effective on or about March 11, 2019, the Fund will launch a new share class (IS-Share), which will be primarily available to platforms and intermediaries.
The Access Capital Community Investment Fund is designed for investors seeking a competitive return on high-quality debt securities that support affordable housing and other underlying community development activities in distinct parts of the U.S.
AdvisorEngine Announces Expansive Integration with BNY Mellon’s Pershing
AdvisorEngine announced the production rollout of its expansive integration with BNY Mellon’s Pershing. The integration will enable broker-dealers and RIAs that custody with Pershing to take advantage of AdvisorEngine technology.
Financial firms that custody with Pershing can access full AdvisorEngine functionality without the need to manually input data or navigate between the two platforms.
Available modules include prospecting tools, client proposals, risk questionnaires, digital onboarding, cash transfers, account opening across various account types, goals-based financial planning tools, client portal, portfolio rebalancing and trading tools, document management, compliance tools, and fee billing.
By bringing together data in one place and automating the key pain-points of advisory firms, AdvisorEngine and Pershing are simplifying how firms do business.
The integration also includes “One Brand, Many Brands” functionality – allowing home offices to easily manage firm branding and advisor branding of client-facing technology.
Additionally, financial institutions can use AdvisorEngine’s fee billing engine to implement custom billing arrangements across different offices, households, client types and fee schedules.
Bloomberg Confirms China Inclusion to the Bloomberg Barclays Global Aggregate Indices
Bloomberg confirmed that Chinese RMB-denominated government and policy bank securities will be added to the Bloomberg Barclays Global Aggregate Index starting April 2019 and phased in over a 20-month period.
The inclusion is a result of the completion of several planned operational enhancements that were implemented by the People’s Bank of China (PBoC), Ministry of Finance and State Taxation Administration.
The PBoC, Ministry of Finance and State Taxation Administration have completed a number of enhancements that were required for inclusion in the Global Aggregate Index in order to increase investor confidence and improve market accessibility. These include the implementation of delivery v. payment settlement, ability to allocate block trades across portfolios, and clarification on tax collection policies.
When fully accounted for in the Global Aggregate Index, local currency Chinese bonds will be the fourth largest currency component following the US dollar, euro and Japanese yen.
Using data as of January 24, 2019 the index would include 363 Chinese securities and represent 6.03% of a $54.07 trillion index upon completion of the phase-in.
—Read the last portfolio product roundup here: Advyzon Adds Riskalyze Access to Its Advisor Portal: Portfolio Products