Posted by advisorsharesinvestments on Sep 28, 2016 in Market Insight, Peritus Asset Management
By Heather Rupp, CFA, Director of Communications and Research Analyst for Peritus Asset Management, Sub-Advisor of the AdvisorShares Peritus High Yield ETF (NYSE Arca: HYLD) As we all know, the Fed held rates steady last week and while they kept the door open for a December rate hike, they certainly didn’t indicate it is a foregone conclusion. There are a number of important data points to watch over the coming months, not to mention an important election, which may well impact the outlook for markets and rates. So just how is the high yield market positioned in this environment? First, we believe that that high yield market remains...
Posted by advisorsharesinvestments on Sep 27, 2016 in Dennis Gartman, Market Insight
September 26, 2016 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms. Now that the FOMC and BOJ meetings are out of the way and by the calendar from the ECB’s own website we’ve not a monetary policy council meeting there until the 4th of October, the market is left to wonder about and deal with day-to-day comments from central bank spokespeople as well...
Posted by advisorsharesinvestments on Sep 27, 2016 in Active ETF Reports, ETF Strategist
Assets in actively managed ETFs jumped by $226 million, or 0.8%, to $27.384 billion. Three new funds launched last week and one fund closed, which takes the total to 151. First Trust experienced the largest inflow with $78 million, followed by $45 million for State Street and $33 million at PIMCO. No fund sponsors realized any significant declines. When viewing inflows by strategy, $67 million went to Alternative Income, $46 million to Global Bond and $45 million to Short Term Bond. Alternative Income was the only strategy to lose ground last week, falling by $17 million. To subscribe to our full monthly report, please register at http://www.advisorshares.com/ (note the...
Posted by advisorsharesinvestments on Sep 26, 2016 in ETF Strategist, Market Insight
Highlights of the Prior Week What Did The BoJ Actually Do? Macro The Bank of Japan appears to have issued a confusing policy announcement on Wednesday. Bespoke Investment Group took the news as saying the BOJ would attempt to manage the yield curve to be flatter while Barron’s reported that the BOJ would attempt to manage the yield curve to be steeper. A flat yield curve generally makes lending less profitable and so is thought to impede access to capital which would seem to be the opposite of a stimulative policy. This sent the dollar lower against the yen which would also seem to be the opposite of what...
Posted by advisorsharesinvestments on Sep 26, 2016 in Laif Meidell, Macro Update
Please listen to American Wealth Management’s Laif Meidell and Heidi Foster discuss the latest events and trends across the markets in their weekly Macro Update. Mr. Meidell also serves as portfolio manager of the AdvisorShares Meidell Tactical Advantage ETF (NYSE Arca: MATH) and the AdvisorShares Market Adaptive Unconstrained Income ETF (NASDAQ: MAUI). ...
Posted by advisorsharesinvestments on Sep 23, 2016 in Market Insight, Pacific Asset Management
Pacific Asset Management (PAM) is a Newport Beach, Calif.- based SEC registered investment adviser that specializes in institutional fixed income management, and features an investment professional team that carries multiple decades of experience managing an diverse suite of actively managed bond and floating rate loan portfolios, including as sub-advisor to the AdvisorShares Pacific Asset Enhanced Floating Rate ETF (FLRT). Since mid-June, the three-month London Interbank Offered Rate (LIBOR)1 has increased by approximately 20 basis points.2 This is despite an unchanged federal funds rate in the United States and caution by the U.S. Federal Reserve (Fed) on future rate hikes. The rise in LIBOR has been driven in part...
Posted by advisorsharesinvestments on Sep 22, 2016 in Investment Perspective
Editor’s note: This is an excerpt from a feature in HedgeWeek on Dorsey Wright & Associates investment process as well information about the ADR market. Back in July 2014, the Sterling/US Dollar exchange rate was reached a high of USD1.71 but since then it has headed south, falling as low as USD1.29 following Brexit. This downward trend has been a boon for US investors travelling to Europe on vacation. And whilst many have continued to focus their investment portfolios on US domestic stocks, the idea of actually owning international stocks has taken a back seat. This is ill advised, however, given that there are already early signs that...
Posted by advisorsharesinvestments on Sep 21, 2016 in ETF Strategist, Market Insight
By Roger Nusbaum, AdvisorShares ETF Strategist Last week, Bloomberg TV had an interesting segment on increasing correlations in the last few days as prices for equities, bonds and even gold all went down. It noted a sharp decline for risk parity as measured by the Salient Risk Parity Index. Ray Dalio and Cliff Asness are probably the two most well-known managers who use the strategy or at least a version of it. Risk parity weights exposure to the asset classes such that it attempts to balance out the risk of being in those asset classes. This means bonds have a much greater weighting than equities to the point...
Posted by advisorsharesinvestments on Sep 20, 2016 in Active ETF Reports, ETF Strategist
Assets inactively managed ETFs were essentially unchanged, adding $6 million to total $27.162 billion. There was one new fund listed from JP Morgan, which brings the total up to 149. PIMCO was the largest gainer bringing $60 million followed by $27 million for State Street. iShares endured a $42 million outflow while WBI dipped by $25 million. At the sector level Short Term Bond was again out in front, bringing in $41 million while Global Bond added $24 million. Tactical contracted by $22 million, Alternative lost $15 million and High Yield was down by $14 million. To subscribe to our full monthly report, please register at http://www.advisorshares.com/ (note the...
