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U.S. Weekly FundFlows Insight Report: Mutual Fund and ETF Investors Remain Risk Averse During the Week
December 13, 2018--For the first week in three, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $21.3 billion for Lipper's fund-flows week ended December 12, 2018.
However, the headline numbers are misleading. Fund investors were net purchasers of money market funds (+$81.2 billion, their largest weekly net inflows on record) while being net redeemers of equity funds (-$46.2 billion, just shy of twice the net redemptions of any other week going back to 1992), taxable fixed income funds (-$13.4 billion), and municipal bond funds (-$317 million). Caveat emptor, several funds went ex-dividend on December 12, paying out capital gains and income distributions for 2018 and possibly causing a temporary one-day decline in total net assets
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Source: Refinitiv
Treasury: U.S. Budget Deficit Widened to $305 Billion in First Two Months of Fiscal 2019
December 13, 2018--Tariff revenue rose 86% in October, November from same period a year ago
The U.S. budget gap widened in the first two months of the fiscal year as tax collections lagged behind federal outlays, which included higher spending for the military and interest on the national debt.
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Source: Wall Street Journal
IndexIQ Launches the IQ 500 International ETF (IQIN)
December 13, 2018--Includes the top 500 international companies based on three fundamental factors: sales, market share and 3-year average operating margin
IndexIQ, a New York Life Investments Company and a leading provider of innovative investment solutions, today announced the launch of the IQ 500 International ETF (NYSE Arca:IQIN).
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Source: IndexIQ
'This could be the one': Is JPM about to drop the first free ETF?
December 11, 2018--JPM has filed for a US equity ETF, which analysts argue will need to charge below 0.04% to gain traction. Could it cost nothing at all? Could JP Morgan be poised to launch the first free ETF?
This seems to be the first question raised by analysts upon hearing that the asset manager is preparing to launch the JPMorgan BetaBuilders US Equity ETF.
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Source: citywireusa.com
SEC says US firms not prepared for Brexit
December 11, 2018--Chairman Jay Clayton tells Practice Insight that US firms are not doing enough to prepare their Brexit risk disclosures-some are only now conducting initial assessments.
Banks say things are changing too quickly to keep up.
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Source: iflrinsight.com
CBO-Monthly Budget Review for November 2018
December 10, 2018--The federal budget deficit was $303 billion for the first two months of fiscal year 2019, CBO estimates, $102 billion more than the deficit recorded during the same period last year.
The federal budget deficit was $303 billion for the first two months of fiscal year 2019, CBO estimates, $102 billion more than the deficit recorded during the same period last year. Revenues and outlays were higher-by 3 percent and 18 percent, respectively-than in October and November 2017.
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Source: Congressional Budget Office (CBO)
BlackRock, Vanguard, Axa raise coal holdings despite climate fears
December 9, 2018--Big asset managers have increased investments since 2015 Paris accord
The world's biggest investors, including BlackRock, Vanguard and Axa, have ramped up holdings in coal since the landmark Paris climate agreement, raising the question of how
seriously they take the issue of tackling global warming.
The UN's Intergovernmental Panel on Climate Change said in October that coal use
would have to be heavily reduced to meet the aim of the agreement.
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Source: FT.com
Investors fled the wild trading this week, dumping $3.5 billion from equity funds
December 7, 2018--U.S. equity funds saw $3.5 billion in outflows through Wednesday during a wild week on Wall Street.
Investors fled to safe-haven government debt as risk-off sentiment took over the markets.
U.S. corporate bond funds also took a hit this week, experiencing $1.9 billion of outflows.
Wild swings in the stock market this week rattled investors, who pulled $3.5 billion from U.S. equity funds and fled to the safety of government debt.
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Source: cnbc.com
Cushing(R) Asset Management Launches Suite of Income-Focused Equity Sector & MLP ETFs
December 6, 2018--New funds offer key energy industry and sector exposures including MLPs in a tax efficient manner to provide potential for greater yield
Cushing(R) Asset Management, an investment firm with vast experience in energy, materials, and industrials, today announced the launch of a new suite of income focused Equity Sector & MLP ETFs: The Cushing(R) Sector Plus ETFs.
These new ETFs, which trade on the NYSE ARCA Exchange, are designed to offer investors exposure to the ever-evolving master limited partnership (MLP) and energy infrastructure markets by seeking to replicate the performance of custom indices in energy, utility, transportation, and the energy supply chain.
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Source: Cushing Asset Management
SEC Again Delays Decision on VanEck-SolidX Bitcoin ETF
December 6, 2018--The U.S. Securities and Exchange Commission (SEC) extended a rule change proposal allowing the nation's first bitcoin exchange-traded fund (ETF), pushing the decision deadline to next year.
In a notice posted online, the securities regulator said it was extending the review period for the ETF to Feb. 27, 2019. The proposal was first submitted by money manager VanEck and blockchain startup SolidX, who partnered with the Cboe exchange earlier this year.
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Source: coindesk.com
