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J.P. Morgan Asset Management Expands BetaBuilders Suite with Exposure to U.S. Equity and Short Duration Fixed Income
April 11, 2019--Two New Fund Launches, BBUS and BBSA, Add to Menu of JPMorgan BetaBuilders ETFs
J.P. Morgan Asset Management today announced that it will offer efficient access to the largest equity market in the world through the new JPMorgan BetaBuilders U.S. Equity ETF ("BBUS") at a fee of 2 basis points.
The firm is also launching the JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF ("BBSA"), at a fee of 5 basis points. Both ETFs are expected to list on the Cboe on Wednesday, March 13th.
"BetaBuilders represent our strategy to deliver a comprehensive range of market exposures through portfolio building blocks,' said Ogden Hammond, Global Head of Beta Product & Business Development for J.P. Morgan Asset Management. "These launches add to our full range of active, strategic beta and passive ETF options, helping clients build stronger portfolios."
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Source: J.P. Morgan Asset Management
Solactive and SoFi challenging the Status Quo-Two Waived-Fee ETFs released with Solactive underlyings
April 11, 2019--Solactive is pleased to announce the release of two indices labeled Solactive SoFi US 500 Growth Index and Solactive SoFi US Next 500 Growth Index, both serving as the underlying for two ETFs featuring a radical zero-fee waiver approach: the SoFi Select 500 ETF and the SoFi Next 500 ETF. Both funds are released by disruptive online personal finance company SoFi.
These funds allow investors widespread access to the US broad market and will be free of charge through at least June 30, 2020.
The indices underlying the ETFs are based on the Solactive US Broad Market Index, which includes equity securities of approximately 3,000 of the largest U.S. companies.
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Source: Solactive
ProcureAM's Space ETF (NYSE Arca: UFO) Takes Off
April 11, 2019--Firm's inaugural ETF aims to offer investors pure-play exposure to multibillion-dollar space industry
Exchange-traded product (ETP) issuer ProcureAM, a wholly owned subsidiary of Procure Holdings, LLC, is boldly going where no one has gone before with the launch of the Procure Space ETF (NYSE Arca: UFO)-the world's first global ETF to give investors pure-play access to the expanding space industry.
UFO tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services. Approximately 80 percent of companies in the index derive the majority of revenues directly from their involvement in the space industry, enabling investors to potentially capture this growing segment of the global economy.
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Source: ProcureAM
1 in 5 Investors Don't Have an Advisor but Want One: Wells Fargo
April 11, 2019--Young investors in particular have an unmet need for advisors, Wells Fargo's Wayne Badorf says.
Financial advisors remain a vital source of advice for most investors, according to the first-quarter 2019 Wells Fargo/Gallup Investor and Retirement Optimism Index survey.
The survey-which comprised interviews with 1,029 U.S. adults with $10,000 or more invested in stocks, bonds or mutual funds-found that 84% of investors say that financial advisors will always be needed and will not be replaced by automated investing technology.
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Source: thinkadvisor.com
U.S. Weekly FundFlows Insight Report: Long-Term Funds Take in a Net $10.1 Billion for the Week
April 11, 2019--For the third consecutive week, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $1.4 billion for Lipper’s fund-flows week ended April 10, 2019.
Fund investors were net purchasers of taxable fixed income funds (+$4.8 billion), equity funds (+$4.3 billion), and municipal bond funds (+$956 million), while being net redeemers of money market funds (-$8.6 billion).
Market Wrap-Up
Markets generally continued their upward trek during the fund-flows week, with investors embracing news about advances in the China/U.S. trade negotiations, the Federal Reserve's continued dovish tone, and a better-than-expected March nonfarm payrolls report. The Dow Jones Industrial Average Price Only Index (-0.23%) suffered the only negative return during the flows week of the broadly followed U.S. indices.
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Source: Refinitiv
SoFi Releases SoFi Select 500 (SFY) and SoFi Next 500 (SFYX) ETFs
April 11, 2019--With Expense Ratio Waived To Zero, Funds Designed to Provide Investors a Set of Powerful New Portfolio Building Blocks
SoFi announced today the availability of two new exchange-traded funds (ETFs), the SoFi Select 500 ETF (NYSE: SFY) and the SoFi Next 500 ETF (NYSE: SFYX).
Both funds have fee waivers in place that lower total fund expenses to zero through at least June 30, 2020.
"When it comes to achieving financial independence, investing isn't a choice-it's a requirement," said SoFi CEO Anthony Noto. "We designed these ETFs to make it as simple and easy as possible for anyone to start investing for the future, without any fees dragging on your returns."
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Source: SoFi
Missing: $500bn of American savingsMissing: $500bn of American savings
April 10, 2019-The greatest trick the Devil ever pulled, was convincing the world that interest income might have existed.
After criticizing the idea, Vanguard to launch low-cost commodities mutual fund, but it ain't for Mom-and-Pop investors
The main driver behind Vanguard's push into commodities appears to be because of demand from big institutions like banks, insurance companies and other professional investors who might otherwise buy a competitor's (read PIMCO) commodities fund with a much higher price tag. view more
Minutes of the Federal Open Market Committee, March 19-20, 2019 CFTC.gov Swaps Report Update
Source: FT.com
April 10, 2019--Local mutual fund giant Vanguard will launch an extremely low-cost commodities mutual fund, but the minimum investment is $50,000.
That's not generally aimed at retail investors--and there are good reasons why.
Source: philly.com
April 10, 2019--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 19-20, 2019. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.
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Source: federalreserve.gov
April 10, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
