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CBO-The U.S. Economic Outlook
September 14, 2023--Summary
Forecast for 2023 to 2025:
Growth will be sustained but with a soft patch in the near term.
Unemployment will rise slightly.
Inflation will gradually return to prepandemic levels.
Interest rates will decline as inflation comes under control.
Risks to the Outlook:
The outlook for inflation presents the greatest uncertainty.
The upside risks of lower inflation and faster growth are balanced with the downside risks of higher inflation and slower growth.
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Source: CBO (Congressional Budget Office)
J.P. Morgan Asset Management Launches Two Active ETFs: JGLO and JIVE
September 14, 2023--Funds seek to deliver JPM active management expertise and risk controls through the ETF structure
J.P. Morgan Asset Management today announced the launch of two actively-managed ETFs, JPMorgan Global Select Equity ETF (JGLO) and JPMorgan International Value ETF (JIVE) on The Nasdaq Stock Market LLC. These funds invest in equity securities and will benchmark to the MSCI World Index and MSCI ACWI ex USA Value Index, respectively.
JPMorgan Global Select Equity ETF (JGLO) seeks to deliver global equity market exposure by investing primarily in the securities of large cap market capitalization companies. The fund leverages an experienced equity management team comprising more than 50 years of combined experience and headed by industry veteran Helge Skibeli, CFA, based in London.
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Source: J.P. Morgan Asset Management
ETFGI reports that assets the ETFs industry in Canada gathered net inflows of US2.33 billion in August
September 13, 2023--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that ETFs industry in Canada gathered net inflows of US$2.33 billion during August, bringing year-to-date net inflows to US$21.30 billion.
Assets invested in the ETFs industry in Canada have increased 14.6 % YTD in 2023, going from US$250.19 Bn at the end of 2022, to US$286.77 Bn, according to ETFGI's August 2023 Canadian ETFs and 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
ETFs industry in Canada gathered net inflows of $2.33 Bn in August.
YTD net inflows of $21.30 Bn during are the third highest, after YTD net inflows of $32.72 Bn in 2021, YTD net inflows of $23.79 Bn in 2020.
$287 billion invested in ETFs industry in Canada at the end of August.
Assets have increased 14.6 % YTD, going from $250.19 Bn at the end of 2022, to $286.77 Bn.
14th month of consecutive net inflows.
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Source: ETFGI
Nasdaq's Hashdex mixed Ether ETF filing joins crypto ETF race
September 13, 2023--Known as the Hashdex Nasdaq Ethereum ETF, this investment fund is the first filing for futures and spot Ether holdings under the '33 Act and is overseen and supervised by Toroso Investments.
The Nasdaq stock exchange has submitted an application to the Securities and Exchange Commission (SEC) seeking approval to list an Ethereum Exchange-Traded Fund (ETF) offered by Hashdex, an asset management company.
This ETF is designed to include a combination of spot ether holdings and futures contracts in its portfolio and pioneering a new approach to cryptocurrency investment within the regulatory framework.
Known as the Hashdex Nasdaq Ethereum ETF, this investment fund is the first '33 Act Ethereum futures filing of futures Ethereum under the '33 Act and is overseen and supervised by Toroso Investments.
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Source: cointelegraph.com
$1.5 Trillion Asset Manager Franklin Templeton Files for Spot Bitcoin ETF
September 12, 2023--Franklin Templeton reveals plans to launch a Spot Bitcoin ETF, joining the race of traditional finance giants.
The ETF aims to mirror Bitcoin's price with Coinbase Custody Trust Company as the custodian.
Recent victories, like Grayscale's against the SEC, increased optimism for the approval of Spot Bitcoin ETFs.
Franklin Templeton has stolen the spotlight of the crypto market. The renowned asset manager with nearly $1.5 trillion under management disclosed its intention to launch a Spot Bitcoin ETF (exchange-traded fund).
According to a recent filing with the United States Securities and Exchange Commission (SEC), a ticker for this financial product remains unspecified. Yet, the development holds significant implications for the crypto industry.
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Source: beincrypto.com
YieldMaxTM Launches Option Income Strategy ETF on JPMorgan Chase
September 12, 2023-- YieldMaxTM announced the launch today of the following ETF:
YieldMaxTM JPM Option Income Strategy ETF (NYSE Arca: JPMO)
JPMO seeks to generate monthly income via a synthetic covered call strategy on JPMorgan Chase & Co. (JPM).
The ETF is actively managed by ZEGA Financial. JPMO does not invest directly in JPM.
JPMO is the newest member of the growing YieldMaxTM ETF family and, like all YieldMaxTM ETFs, aims to deliver substantial monthly income to investors. Please see table below for distribution and yield information for all outstanding YieldMaxTM ETFs.
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Source: ZEGA Financial
RBC iShares Expands Thematic ETF Suite to Provide More Precise Exposures
September 12, 2023--September 12, 2023--Today, RBC iShares expands its exchange traded fund ("ETF") lineup with the launch of five iShares ETFs.
The new funds offer Canadian investors convenient tools for gaining exposure to mega-forces and structural trends positioned to shape global markets and economies, including trends such as the global transition to a low-carbon economy.
The lineup also includes ETFs focused on the semiconductor industry, the aerospace and defense industry, and the U.S. financial sector. The new thematic ETFs demonstrate RBC iShares' continued commitment to investor choice and access.
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Source: BlackRock Asset Management Canada Limited (iShares)
KraneShares and Rockefeller Asset Management Launch Ocean Engagement ETF (KSEA), Expanding Innovative Climate Investment Lineup
September 12, 2023--Rockefeller Asset Management (Rockefeller), the asset management arm of Rockefeller Capital Management, and KraneShares, a leading global ETF provider specializing in China, climate, and uncorrelated assets, today launched the KraneShares Rockefeller Ocean Engagement ETF (ticker: KSEA).
The fund invests in public companies with significant impact on oceans and ocean resources, reflecting the meaningful investment opportunities within the blue economy, a subset of the ocean economy focused on solutions that are sustainable, and have ocean-positive benefits.
KSEA aims to generate competitive returns and improve ocean health through shareholder engagement activity focused on pollution prevention, carbon transition, and ocean conservation.
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Source: KraneShares
CBO-Monthly Budget Review: August 2023
September 11, 2023--Summary
The federal budget deficit was $1.5 trillion in the first 11 months of fiscal year 2023, the Congressional Budget Office estimates-$0.6 trillion more than the shortfall recorded during the same period last year.
Revenues were 10 percent lower and outlays were 3 percent higher from October through August than they were during the same period in fiscal year 2022.
Outlays in fiscal year 2023 were reduced by the shifting of certain payments-totaling $63 billion-from October 1, 2022 (the first day of fiscal year 2023), into fiscal year 2022 because October 1 fell on a weekend. If not for those shifts, the deficit through August would have been $1.6 trillion.
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Source: CBO (Congressional Budget Office)
VanEck Announces Changes to ETF Product Line-VanEck China Growth Leaders ETF
September 8, 2023--VanEck announced today that it plans to close and liquidate one of its VanEck ETFs.
On September 7, 2023, the Board of Trustees of VanEck ETF Trust approved the liquidation and dissolution of the following fund (the "Fund"):
ETF Name: VanEck China Growth Leaders ETF
Ticker: GLCN
Exchange: NYSE Arca
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Source: VanEck
