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Avantis Reaches Three-Year Anniversary,, Continues To Expand Offering
September 29, 2022--This week, Avantis Investors, an investment offering from global asset manager American Century Investments, reached the three-year anniversary of bringing its first five equity ETFs to the market.
Each of the five initial Avantis ETFs has surpassed $1 billion in assets under management at the three-year mark, and Avantis collectively now manages nearly $14 billion* across 16 strategies.
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Source: American Century Investments
Putnam Investments to Launch Two Innovative Active ETFs
September 28, 2022--Firm to Offer First Actively Managed Business Development Company ETF Additionally Putnam to Offer New Biology Revolution ETF,
September 28, 2022--On Friday, September 30, Putnam Investments will begin to offer two new transparent, actively managed, equity exchange-traded funds (ETFs).
The firm will be launching Putnam BDC Income ETF, concentrating in business development companies (BDCs), and Putnam BioRevolutionTM ETF, centered on companies operating at the intersection of technology and biology in the "biology revolution."
One important milestone of the upcoming launch is that the Putnam BDC Income ETF will represent the first actively managed BDC ETF in the marketplace, investing in a host of BDC opportunities with an eye toward generating income for investors.
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Source: Putnam Investments
John Hancock Investment Management announces the launch of its U.S. High Dividend ETF
September 28, 2022--John Hancock Investment Management, a company of Manulife Investment Management, announced today that it has launched John Hancock U.S. High Dividend ETF (NYSE: JHDV). The ETF is actively managed and subadvised by Manulife Investment Management (US) LLC, John Hancock Investment Management's affiliated asset manager.
The investment objective of JHDV is to seek a high level of current income with long-term growth of capital as a secondary objective. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying U.S. large-and mid-cap equity securities. These dividend-paying U.S. large- and mid-cap equity securities are incorporated in, or have their primary listing in, the United States.
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Source: John Hancock Investment Management
CBO-Trends in the Distribution of Family Wealth, 1989 to 2019
September 27, 2022--CBO examines changes in the distribution of family wealth from 1989 to 2019 and analyzes those changes in relation to several family characteristics. In addition, the agency examines how total family wealth has changed since 2019.
Summary
Building on earlier work by the Congressional Budget Office, this report examines changes in the distribution of family wealth (a family's assets minus its debts) from 1989 to 2019 and analyzes those changes in relation to several family characteristics-income, level of education, race and ethnicity, age, and birth cohort. In addition, the report examines how total family wealth has changed since 2019.
Total Wealth. The total real wealth (that is, wealth adjusted to remove the effects of inflation) held by families in the United States tripled from 1989 to 2019-from $38 trillion in 2019 dollars (roughly four times the nation's gross domestic product, or GDP) to $115 trillion (about five times GDP).
Concentration of Wealth. The growth of real wealth over the past three decades was not uniform: Family wealth increased more in the top half of the distribution than in the bottom half. Families in the top 10 percent and in the top 1 percent of the distribution, in particular, saw their share of total wealth rise over the period. In 2019, families in the top 10 percent of the distribution held 72 percent of total wealth, and families in the top 1 percent of the distribution held more than one-third; families in the bottom half of the distribution held only 2 percent of total wealth.
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Source: CBO (Congressional Budget Office)
Vanguard Is Liquidating a US-Listed ETF for the First Time Ever
September 26, 2022--Firm says VFLQ hasn't 'gained scale since its 2018 debut'
Decision is sign of industry saturation: Morningstar's Johnson
Asset-management giant Vanguard Group is shutting down one of its US exchange-traded funds for the first time.
The $39.7 million Vanguard U.S. Liquidity Factor ETF (ticker VFLQ) will be liquidated in late November, the firm said in a press release Monday. The fund "has not gained scale since its 2018 debut," Vanguard said.
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Source: bloomberg.com
Simplify Names John Downing Managing Director & Portfolio Manager
September 26, 2022--In newly created role, Downing will focus on portfolio management duties for income-focused strategies, as well as new product development and research
Simplify Asset Management ("Simplify"), an innovative provider of Exchange Traded Funds ("ETFs"), is today announcing that asset management industry veteran John Downing has joined its team as Managing Director & Portfolio Manager.
Mr. Downing joins Simplify with more than two decades of industry experience, most recently as the Co-Founder, Managing Partner and Chief Investment Officer with RDC Capital Partners LP, where he was responsible for a number of investment management functions, including actively managing a diversified portfolio of options and equity, commodity, and fixed income instruments.
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Source: Simplify Asset Management
CBO-How Inflation Has Affected Households at Different Income Levels Since 2019
September 22, 2022--CBO examines how inflation has affected households at different income levels and compares inflation since 2019 with the growth in household income over the same period.
Summary
Inflation affects households differently depending on the mix of goods and services that they consume and the income that they have available to pay for that consumption.
In this report, the Congressional Budget Office examines how inflation has affected households at different income levels and compares inflation since 2019 with the growth in household income over the same period.
For this analysis, the agency used data about households' consumption in 2019, before the coronavirus pandemic. To focus on the effects of changes in prices, CBO held quantities of consumption constant by considering an average bundle of goods and services purchased in that year by households in each quintile (or fifth) of the income distribution. CBO used two measures of income: market income and income after transfers and taxes. Market income consists of labor income, business income, capital income, and other income from nongovernmental sources. Income after transfers and taxes accounts for additional factors such as cash payments from the government (or transfers) and federal taxes. Both measures were adjusted to remove the cost of health care benefits that people receive from the government or their employer because CBO does not have comparable data about prices, quantities, or subsidies for such benefits.
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Source: CBO (Congressional Budget Office)
John Hancock Investment Management announces changes to its ETF lineup
September 22, 2022--John Hancock Investment Management, a company of Manulife Investment Management, announced today that it plans to close and liquidate 10 sector ETFs (funds). The decision reflects how these funds have been used by investors over the past seven years and how sector investing has shifted in the market.
The Board of Trustees of John Hancock Exchange-Traded Fund Trust has determined that the continuation of the funds isn't in the best interest of the funds or their shareholders and decided to close and liquidate the following funds:
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Source: John Hancock Investment Management
Carbon Collective Investing Launches the Carbon Collective Climate Solutions U.S. Equity ETF (Nasdaq: CCSO)
September 20, 2022-CCSO gives investors exposure to a select group of companies that are dedicated to solving climate change
Carbon Collective Investing, LLC ("Carbon Collective"), a climate change-focused online investment advisor, today announced the launch of the Carbon Collective Climate Solutions U.S. Equity ETF (CCSO), an actively managed exchange-traded fund that invests in publicly traded companies that are dedicated to solving climate change.
Climate change poses a serious threat to society and more investment is needed in companies that are taking steps to reverse the decades-long damage caused by climate change.
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Source: Carbon Collective
SEC-Office of the Investor Advocate Releases Research Study on Fund Performance Benchmarks
September 19, 2022--Researchers from the SEC's Office of the Investor Advocate (OIAD) released an independent research study examining the impact of mutual fund performance benchmarks on investor decision-making, and potential strategic behavior by firms in displaying benchmarks.
This study examines market data and the results of a large behavioral experiment to understand how funds employ benchmarks and how investors respond to benchmark presentation.
The research study was published on the OIAD website and has been placed in the comment file (No. S7-09-20) for a rulemaking package that would, among other things, modernize open-end fund shareholder reports. The proposal, which was proposed by the Commission in August 2020, features concise and visually engaging shareholder reports that would highlight information that is particularly important for retail investors to assess and monitor their fund investments.
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Source: SEC.gov
