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U.S. Leveraged Loan Sales Set for Record Year, Could Beat Bonds
April 15, 2021--Borrowers like United Airlines, Michaels grew loans over bonds
Dividend-linked loan supply may also rise amid fierce demand
Junk-rated borrowers are shifting their sights toward U.S. leveraged loans, sometimes at the expense of high-yield bonds, putting sales of the floating-rate debt on course for a record year of issuance.
United Airlines Holdings Inc., Michaels Cos. and Triton Water Holdings Inc. all recently opted to boost the size of loan offerings, while cutting bond deals, as they marketed the debt to both sets of investors. The deal outcomes signal the full recovery of the leveraged loan market that lagged high-yield bonds through most of the pandemic, and strong demand for the floating-rate debt that offers a hedge in a rising rate environment.
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Source: bloomberg.com
ETFGI reports assets invested in ETFs and ETPs listed in United States reach a record US$5.91 at the end of Q1 2021
April 15, 2021--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reported today that assets invested in ETFs and ETPs listed in United States reach a record US$5.91 at the end of Q1 202. ETFs and ETPs listed in United States gathered a record US$98.26 billion in net inflows during March, bringing year-to-date net inflows to a record US$252.24 billion. Assets invested in the U.S.
ETFs and ETPs industry have increased by 3.3%, from US$5.72 trillion at the end of February, to US$5.91 trillion at the end of March, according to ETFGI's March 2021 US ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in ETFs and ETPs listed in United States reach a record of $5.91 trillion at the end Q1 2021.
ETFs and ETPs listed in U.S. gathered a record $98.26 Bn in net inflows in March beating the prior record of $96.74 set in February 2021
A record $252.24 Bn in net inflows at the end of Q1 beating the prior record of $133.58 in set in Q1 2017 and much higher than the $59.86 Bn gathered in Q1 2020.
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Source: ETFGI
BlackRock's Record-Breaking ESG Fund Looks Just Like a Big Tech ETF
Apri 14, 2021--The Carbon Transition fund's largest holdings are Apple, Microsoft, Amazon.com, Alphabet and Facebook.
As the biggest launch in the history of ETFs, it's a ringing endorsement of all things ESG. But beyond its billion-dollar debut, BlackRock Inc.'s new fund might feel awfully familiar to most investors.
The top holdings in the U.S. Carbon Transition Readiness ETF (ticker LCTU) -- which lured about $1.25 billion in its first day on Thursday-- turn out to be Apple Inc., Microsoft Corp., Amazon.com Inc., Alphabet Inc. and Facebook Inc.
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Source: bloomberg.com
Coinbase valued at $76bn in coming-of-age moment for cryptocurrency
April 14, 2021--Investors cheer direct listing of digital currency exchange though shares drift lower after debut
Stock market investors valued Coinbase at $75.9bn in its debut on Nasdaq on Wednesday, the first listing of a major cryptocurrency exchange and a moment of validation for the digital asset class some 12 years after the creation of bitcoin.
Shares drifted lower through the trading day- from an opening price of $381 to $328- but even at the close Coinbase had a market capitalisation of $65.4bn, rivalling that of the New York Stock Exchange's parent company, ICE, which is worth $67bn.
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Source: FT.com
The Stock Market Is Attracting New Investors. Here Are 3 Trends to Know.
March 13, 2021--The rise of retail investors have been one of the biggest stories on Wall Street last year, as social media platforms and free trading apps like Robinhood gave home-bound Americans a newly found passion during the Covid-19 lockdowns.
A new study released by fintech company Broadridge Financial Solutions (BR) paints a picture of what the retail investing landscape looks like in the U.S., and what it means for the future of the financial market.
Broadridge tracks the investment portfolios of 44 million U.S. households with $7 trillion assets in mutual funds, exchange-traded funds, and individual stocks sold through financial intermediaries. The recent study was conducted based on 20,000 random samples of the data, which spans from the year end of 2017 to the first half of 2020. The data does not include cash savings, bank accounts, retirement plans, real assets, or direct fixed income investments.
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Source: barrons.com
Ameriprise buys BMO's European asset-management business for $845M
April 12, 2021--The acquisition will boost its business to $1.2 trillion in assets under management.
Ameriprise Financial said it will buy the Europe, Middle East and Africa asset-management business of BMO Financial Group for about $845 million in cash, the second-largest deal in recent years by the Minneapolis-based financial-advisory firm.
The acquisition, announced Monday, will add about $124 billion of assets under management in EMEA, as the region is called, to Ameriprise's operations. Ameriprise will have more than $1.2 trillion of assets under management after the deal.
It also creates a strategic relationship with BMO Wealth Management so that its North American clients can access Ameriprise's Columbia Threadneedle investment management solutions. Some asset-management clients at BMO, or Bank of Montreal, also could move to Columbia Threadneedle in the U.S., the company said.
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Source: startribune.com
HANetf shifts the HAN-GINS Indxx Healthcare Innovation UCITS ETF (WELL) to a new Indxx Index
April 9, 2021--Indxx is pleased to announce that the HAN-GINS Indxx Healthcare Innovation UCITS ETF (WELL), will be renamed as HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF (WELL), which will now track the Indxx Global NextGen Healthcare Index (the "Index").
The Index (Ticker: IHMEQT) is designed to measure the performance of companies that provide exposure to the NextGen Healthcare sector, as defined by Indxx.
Rahul Sen Sharma, Managing Partner at Indxx said, "We are very happy to support HAN ETF in their decision to shift the underlying index of the fund to a new Indxx Index, with added ESG screens and the addition of new themes."
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Source: Indxx
CBO-Monthly Budget Review: March 2021
April 8, 2021--Summary
The federal budget deficit was $1.7 trillion in the first six months of fiscal year 2021, the Congressional Budget Office estimates-almost $1 trillion more than the deficit recorded during the same period last year.
Outlays were 45 percent higher and revenues were 6 percent higher from October through March than during the same period in fiscal year 2020. Most of that difference arises from spending for three purposes, largely in response to the coronavirus pandemic: refundable tax credits, unemployment compensation, and the Small Business Administration's Paycheck Protection Program.
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Source: Congressional Budget Office (CBO)
Vanguard Launches Active Ultra-Short Bond ETF
April 7, 2021--Vanguard today introduced its first actively managed bond ETF, managed by its in-house fixed income team. Vanguard Ultra-Short Bond ETF (VUSB) offers a low-cost, diversified option for investors seeking income and limited price volatility. The ETF, which is listed on the Chicago Board Options Exchange (Cboe), has an expense ratio of 0.10%, compared with the average expense ratio for ultra-short-term bond ETFs of 0.22%1.
"Vanguard Ultra-Short Bond ETF offers the features of an ETF structure for investors seeking an option for anticipated cash needs in the range of 6 to 18 months," said Kaitlyn Caughlin, head of Vanguard Portfolio Review Department. "An ultra-short strategy bridges the gap between money market funds offering a stable share price and short-term bond funds, which are meant for longer investment time horizons."
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Source: Vanguard
Joe Biden wants to spend $2 trillion on infrastructure and jobs. These 4 charts show where the money would go
April 1, 2021--The plan includes everything from road repairs and electric vehicle stations, to public school upgrades and training for the clean-energy workforce.
President Joe Biden on Wednesday introduced a sweeping $2 trillion infrastructure and jobs package that looks to reshape the American economy and make the most significant domestic U.S. investments in generations.
His far-reaching American Jobs Plan includes spending to repair aging roads and bridges, jump-start transit projects and rebuild school buildings and hospitals. It would also expand electric vehicles, replace all lead pipes and overhaul the nation's water systems.
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Source: usatoday.com
