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Vanguard Ups the Ante in an ETF Race to Zero
February 26, 2019--Fees are coming down on 10 ETFs, with combined assets of almost $175 billion
Vanguard Group is cutting management fees on 10 exchange-traded funds, the latest money manager to trim fees on a host of investment products.
The ETFs, with combined assets of $176 billion, include funds that invest in international stocks and bonds. The biggest is the $63 billion Vanguard FTSE Emerging Markets ETF, which will cost $12 a year for every $10,000 invested. That is down from $14, making it cheaper than a competing ETF from BlackRock Inc.'s iShares Core lineup. In addition, 43 Vanguard mutual funds are also reducing...
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Source: Wall Street Journal
It's Too Quiet When It Comes to Volatility for Some Analysts
February 26, 2019--Sundial sees setup as good for bonds, not for greenback
Cantor urges caution, while BTIG sees a chance for upside
The rally thundering across markets has done more than just drive up prices, it's pushed down volatility.
Markets around the world have started the year on a tear encouraged by easing trade tensions, a more dovish-sounding Federal Reserve and signs that China is bolstering its economy. And volatility gauges have responded.
Fed's Powell predicts solid but slower growth in 2019
February 26, 2019--Federal Reserve Chairman Jerome Powell told Congress on Tuesday the U.S. economy should keep expanding at a solid, though somewhat slower pace this year. But he warned of growing risks, including a global slowdown, volatile financial markets and uncertainty about U.S. trade policy.
In delivering the Fed's semiannual monetary report to Congress, Powell said the Fed will be "patient" in determining when to boost its benchmark policy rate in light of the various "crosscurrents and conflicting signals."
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Source: AP
NAACP Infusing Social Justice Into Wall Street With Historic Bell Ringing
February 26, 2019--Group Joins Impact Shares in Highlighting NAACP Minority Empowerment ETF (NYSE Arca: NACP)
Discussion on "Using Capital Markets to Create Social Equity" to Precede Event
Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund (ETF) platform, will join the National Association for the Advancement of Colored People (NAACP) in ringing the Closing Bell at the New York Stock Exchange (NYSE)
today to highlight the launch of the NAACP Minority Empowerment ETF (NYSE Arca: NACP).
The ceremony marks the first time in the nation's premier civil rights organization's 110-year history that it will ring the NYSE bell. It also symbolizes a significant milestone in the evolution of the African-American community, 400 years after the first enslaved Africans arrived on the shores of Virginia.
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Source: Impact Shares
CFTC.gov Commitments of Traders Reports Update
February 26, 2019--The current reports for the week of February 26, 2019 are now available.
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Source: CFTC.gov
SoFi planning its first no-cost ETFs, per filings
February 25, 2019--The first free exchange-traded fund is on its way.
Social Finance Inc., the online lender known as SoFi, is helping start two new ETFs that won't charge a management fee, according to regulatory filings. The funds, which plan to waive charges for at least the first year, will focus on U.S. stocks.
With more than 97 per cent of cash flowing to ETFs going to those that charge US$2 or less for every US$1,000 invested, issuers are under pressure to keep costs to a minimum. SoFi is a new contender in the fee war, after Fidelity Investments made waves when it started the first free mutual funds last year and saw assets in those products quickly grow to US$1 billion.
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Source: bnnbloomberg.ca
A Chinese Brokerage for U.S. Stocks Seeks a Nasdaq Listing
February 25, 2019--Owner of online-trading platform Tiger Brokers plans to raise up to $150 million in ne of China's largest and fastest-growing online brokerages filed plans to go public in New York, offering a window into the world of Chinese investors who are increasingly trading U.S.-listed stocks.
The owner of the Tiger Brokers online-trading platform said in a prospectus filed Friday with the U.S. Securities and Exchange Commission that it plans to raise up to $150 million in a Nasdaq initial public offering. Backers of Tiger, which was founded in 2014, include U.S. online brokerage Interactive Brokers Group...
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Source: Wall Street Journal
New ETF Says It Lowers Risk Of S&P 500
February 25, 2019--As more companies seek their fortune in the exchange-traded fund industry, they are breaking down into two categories: those that find a new esoteric niche in the stock market and those that seek to create an index better than the S&P 500.
A new fund that falls into the first category is the Pacer Benchmark Data & Infrastructure Real Estate Sector ETF (SRVR). This ETF offers investors exposure to U.S. companies that generate the majority of their revenue from real estate operations in the data and infrastructure sector, such as REITS and C-Corps. The ETF is a play on the companies that provide the servers for the growing e-commerce market. It doesn't get any more esoteric than that.
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Source: Forbes
Warren Buffett's Letter: Big Stock Losses, the U.S. Budget Deficit and Jokes
February 23, 2019--The stock market rout that occurred at the end of last year hurt Berkshire Hathaway's 2018 profits, at least on paper.
The conglomerate controlled by Warren E. Buffett suffered losses of $25.4 billion in the fourth quarter, according to Berkshire's annual report that was released on Saturday.
he company owns $173 billion of stocks and the market’s swoon in the fourth quarter helped cause losses of $22.7 billion on those securities. Berkshire also recorded a $3 billion noncash loss related to its large stake in Kraft Heinz, the struggling food company. (Stocks, of course, have recovered this year, and Berkshire's losses may now be smaller.)
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Source: NY Times
Invesco shuts down 19 ETFs
February 22, 2019--Invesco has spent years expanding its product range through acquisitions, including takeovers of Guggenheim and OppenheimerFunds, but this week dropped 19 exchange-traded funds from its product list.
That brings the number of funds the investment manager has closed this year to 24.
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Source: Smartbrief
