Swimming against the current

ETF Express spoke to F/m Investments this week about their application to the SEC to open a mutual fund version of their US Benchmark Series ETFs. The move seems counter intuitive after the last few years’ worth of mutual fund to ETF conversions, but Alex Morris, F/m’s president and CIO, explains that mutual funds might have lots of complications compared with the newer and more flexible ETF, but they are the easier route for investors planning their retirement using a 401 (k).

The firm tried to ‘eat its own cooking’ and found that it was really hard to use its own ETFs in its own 401 (k).

We also spoke to Calastone’s Brian Godins on their move into ETFs, offering what it calls the next generation ETF Order Management system with HSBC for the launch of its platform, and announcing that ETFs will be increasingly joining their mutual fund cousins to digitalise the fund distribution, administration and issuance processes.

“It’s worth referencing that in the ETF world, the focus for Calastone is providing solutions for the primary market processes and flows, as opposed to the secondary market. Godins says. “We are able to build the microservices required at pace based on the multi-year investment we have already made in DMI, so our time to market is pretty impressive, and getting faster.”

ETF Express and its sister title Institutional Asset Manager carried news this week of the launch of an ETF in the US from the Man Group’s AHL franchise with American Beacon which puts the active into active ETFs. The American Beacon AHL Trend ETF is designed to “proactively manage risk while attempting to capitalise on price trends” covering more than 20 of the most liquid global markets across stocks, bonds, commodities and currencies through the use of derivatives.

Both Institutional Asset Manager and ETF Express are currently running awards.

To nominate in the Institutional Asset Manager awards please click here.

The ETF Express US Awards voting period will end next Friday, the 15th September. To vote now please click here.

Beverly Chandler, Managing Editor

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Matteo Greco, Research Analyst at digital asset and fintech investment business Fineqia International writes that last week saw bitcoin (BTC) close at around USD26,000, a 0.5 per cent decrease in price from its previous week’s closing price of USD26,100. 
F/m Investments LLC, a wholly owned subsidiary of Diffractive Managers Group, LLC, has taken quite another route with its exemptive application with the US SEC, seeking an order that would permit each of the ETFs in the US Benchmark Series – a suite of 10 ETFs designed to simplify access to the US Treasury market – to offer a mutual fund share class. 
News came over the summer weeks of the launch of HSBC’s ETF Platform Solutions, and its partnership with Calastone, to provide what it describes as a next-generation ETF Order Management system.
Famous for its lengthy history in hedge funds and quantitative investing, London-headquartered Man Group’s Man AHL has made its first foray into the ETF space with the launch of an active, quantitative and systematic trading strategy in partnership with the USD63 billion manager of managers American Beacon Advisors.
The winners of the ETF Express US Awards 2023 will be announced at the event in New York on 26th October and published in the subsequent US ETF Awards Special Report. Thank you to everyone who nominated and voted in this year’s iteration.

Global ETF launches

Global Launches sponsored by STOXX
Global, non-North American, ETF launches this week bring you BlackRock expanding its European iBond offering.

US ETF launches

US Launches sponsored by STOXX
Nine new ETF offerings were launched for the week, each with a distinct value proposition for investors.  Detailed below are the respective launches from each asset manager.


Canada Launches sponsored by STOXX
A summary of the Canadian ETF launches that occurred in August 2023.
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