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Top Fund Companies' Climate Change Votes: A Very Mixed Picture
September 28, 2020-Vanguard, State Street, and Fidelity increased support for shareholder resolutions aimed at tackling climate change, while BlackRock voted 'no' more than 80% of the time.
Support for resolutions requesting climate-related disclosures, of which there were only 14 in 2020, rose at Fidelity, State Street Global Advisors, and Vanguard but fell at American Funds and BlackRock (BLK) from 2019. Support for a broader set of resolutions that incorporate climate governance considerations show a similar ranking among the most influential investment fiduciaries. With their massive amounts of money under management, these firms are often among the largest shareholders at many of the world's biggest companies. Their yay or nay votes frequently make the difference between a shareholder proposal passing or failing.
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Source: morningstar.com
Alpha Architect ETF Trust files with the SEC-Gadsden Dynamic Multi-Asset ETF
September 25, 2020--Alpha Architect ETF Trust has filed a post-effective amendment, registration statement with the SEC for the Gadsden Dynamic Multi-Asset ETF.
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Source: sec.gov
CBO-An Overview of The 2020 Long-Term Budget Outlook
September 24, 2020--Summary
By the end of 2020, federal debt held by the public is projected to equal 98 percent of gross domestic product (GDP)-its highest level since shortly after World War II.
If current laws governing taxes and spending generally remained unchanged, debt would first exceed 100 percent of GDP in 2021 and would reach 107 percent of GDP, its highest level in the nation’s history, by 2023, CBO projects. Debt would continue to increase in most years thereafter, reaching 195 percent of GDP by 2050.
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Source: Congressional Budget Office (CBO)
Cambria Launches Multi-Factor, Global Real Estate ETF (BLDG)
September 24, 2020--Cambria Investment Management, LP, an independent, investment advisory firm focused on quantitative asset management and alternative investments, today launched the Cambria Global Real Estate ETF (BLDG), listed on Cboe. The fund is actively managed with an expense ratio of 0.59%.
BLDG joins 11 other Cambria ETFs managed using quantitative, rules-based strategies that span asset classes and include value, core, and tactical strategies.
"Cambria is focused on offering quantitative, rules-based strategies that are unique alternatives to what is already available in the ETF marketplace," said Meb Faber, Cambria co-founder and CIO.
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Source: Cambria Investment Management, LP
IShares launches ETF buying long-duration STRIPS
September 24, 2020--Shares brought to Cboe Global Markets an exchange-traded fund that buys Treasury STRIPS with 25 or more years left to maturity. The iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) invests in securities derived from Treasury bonds.
The iShares 25+ Year Treasury STRIPS Bond ETF has a 0.07% expense ratio.
Source: Smartbrief
Vanguard bolstered by ETF sales amid mutual fund outflows
September 24, 2020--ETF sales have been supporting Vanguard's business this year amid sizeable outflows from its mutual funds range, new data show.
The asset manager's $1.3tn ETF line attracted $113bn in net inflows in the year to the end of August, while its $4.4tn in long-term mutual funds bled $41bn, according to data from Morningstar. At Vanguard, ETFs are share classes of their mutual funds.
Vanguard remains the industry's best-seller for the month, hauling in $7.3bn in long-term fund inflows in August, nearly 40 per cent more than its closest competitor.
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Source: technocodex.com
Global X ETFs Launches ETF Providing Exposure to China's Rapidly Emerging Biotech Industry
September 24, 2020--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X China Biotech Innovation ETF (CHB). The fund will join the firm's family of thematic growth ETFs and will invest in leading China-based companies in the country's emerging field of biotechnology.
Regulatory easements and support from the Chinese government have helped propel China's biotech industry to become the world's second largest. Biotechnology is specifically named as a Strategic Emerging Industry and prioritized by Beijing's Made in China 2025 and 13th Five Year Plan initiatives.1 Following a 2018 rule change at the Hong Kong Stock Exchange, which helps attract Chinese biotech firms, 17 mainland Chinese biotech firms raised $5.12 billion through IPOs in Hong Kong.2
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Source: reuters.com
Stock Exchanges Present Opportunity as Volumes Surge
September 23, 2020--Shares of American exchange operators have mostly performed well this year, especially compared with other financials
Stocks might be very expensive right now. But stock exchanges aren't.
Shares of American exchange operators have mostly performed well this year, especially compared with other financials.
Stocks might be very expensive right now. But stock exchanges aren't.
Shares of American exchange operators have mostly performed well this year, especially compared with other financials. The engine for exchanges has been the U.S. stock market's highly elevated trading levels, record options volumes and new public listings-all three of which are in no small part being driven by a surge in retail activity. This has helped Nasdaq and Intercontinental Exchange, owner of the NYSE, to sharply outperform. They are up 7% and 15%,...
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Source: wsj.com
