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CBO-Monthly Budget Review: April 2022
May 9, 2022--Summary
The federal budget deficit was $360 billion in the first seven months of fiscal year 2022 (that is, from October 2021 through April 2022), the Congressional Budget Office estimates. That amount is about one-fifth of the $1.9 trillion shortfall recorded during the same period in 2021. Revenues were $843 billion (or 39 percent) higher and outlays were $729 billion (or 18 percent) lower than during the same period a year ago.
Receipts collected through April 2022 were significantly greater than CBO estimated when it last published baseline projections in July 2021. On the basis of collections so far this year, revenues in 2022 are likely to total between $400 billion and $500 billion more than CBO anticipated last summer. That increase stems mainly from larger-than-anticipated payments of individual income taxes, payroll taxes, and corporate income taxes for calendar year 2021. The reasons for the difference will be better understood as additional information becomes available, but may reflect stronger-than-expected income growth throughout 2021 and so far in 2022.
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Source: CBO (Congressional Budget Office)
Sparks fly in battle for control of WisdomTree
May 6, 2022--Negotiations over future of US asset manager break down in acrimonious public dispute
WisdomTree has hit back at an attempt by Graham Tuckwell, its largest shareholder, to oust its chief executive with a sharply worded statement suggesting any rapprochement between the two parties is unlikely.
Tuckwell, the driving force behind the world's first gold exchange traded fund, teamed up earlier this year with Lion Point, an activist hedge fund, in an effort to force Jonathan Steinberg to step down from his role as CEO of the underperforming $79.4bn US asset manager.
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Source: ft.com
Zero chance' of US approving spot bitcoin ETF in 2022'-VanEck
May 5, 2022-- Issuer that had crypto ETF rejected by SEC says nothing will happen until regulators finish turf war
There is "probably zero chance" of the US Securities and Exchange Commission (SEC) allowing an asset manager to issue an exchange-traded fund (ETF) that tracks the price of bitcoin this year, according to one of the companies that has had an application to run a crypto fund rejected by the regulator.
American investors will have to wait until at least 2023 for a spot bitcoin ETF because the SEC is fighting the Commodity Futures Trading Commission (CFTC) for the right to regulate
A HREF="https://www.risk.net/investing/7948021/zero-chance-of-us-approving-spot-bitcoin-etf-in-2022-vaneck" TARGET="_blank">view more
Source: risk.net
Merk Investments Launches STGF: The Merk Stagflation ETF
May 4, 2022--STGF is a one-click inflation hedge ETF
Merk Investments launches the Merk Stagflation ETF. The ETF will trade on the NYSE Arca under the symbol "STGF." The Merk Stagflation ETF (STGF) provides investors with exposure to investments that are expected to benefit, either directly or indirectly, from persistent inflation, including in an environment of weak economic growth (stagflation).
The Merk Stagflation ETF (ticker: STGF) seeks to track the Solactive Stagflation Index, which in turn seeks to track the performance of components that are expected to benefit, either directly or indirectly, from persistent inflation, including in an environment of weak economic growth (stagflation).
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Source: Merk Investments LLC
SEI Adds Suite of Tax-Sensitive Strategies Featuring Capital Group ETFs and American Funds
May 4, 2022--New Solutions Deliver Enhanced Tax Efficiency and Investment Flexibility
SEI (NASDAQ: SEIC) today announced it has expanded its suite of models featuring Capital Group exchange traded funds (ETFs) and American Funds mutual funds to include 12 new tax-sensitive solutions.
The new solutions support independent advisors' ability to deliver goals-based, personalized wealth management through the SEI Wealth PlatformSM (SWP).
The SEI Strategies featuring the American Funds launched in 2020 and offer a diversified selection of portfolios allocated across regions, risk tolerances, and investment objectives.
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Source: SEI Investments Company
J.P. Morgan Asset Management Expands ETF Lineup: JPMorgan Nasdaq Equity Premium Income ETF (JEPQ)
May 4, 2022--JPMAM's first ETF to invest primarily in the equity securities of large cap companies listed on The Nasdaq Stock Market
J.P. Morgan Asset Management today announced the launch of JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), the firm's first ETF to list on The Nasdaq Stock Market.
The active equity ETF seeks to deliver an attractive distributable yield while also delivering a significant portion of the returns associated with the fund's primary benchmark, the Nasdaq-100 Index, with less volatility.
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) will be comprised of a portfolio of equity securities of large cap companies included in the Nasdaq-100 Index and will incorporate an options strategy to generate income while lowering the volatility of the overall portfolio.
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Source: J.P. Morgan Asset Management
SEC Nearly Doubles Size of Enforcement's Crypto Assets and Cyber Unit
May 3, 2022--The Securities and Exchange Commission today announced the allocation of 20 additional positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats. The newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement will grow to 50 dedicated positions.
"The U.S. has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," said SEC Chair Gary Gensler. "The Division of Enforcement's Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets. By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity."
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Source: SEC.gov
State Street Appointed Service Provider for Neuberger Berman's First Actively Managed Thematic ETFs
May 2, 2022--State Street and Neuberger Berman have partnered closely to prepare for the launch of Neuberger Berman's initial series of Active ETFs
State Street Corporation (NYSE: STT) today announced that it has been appointed service provider by Neuberger Berman for the firm's first actively managed exchange traded funds (ETFs).
As part of the appointment, State Street is providing ETF basket services, custody, fund accounting, fund administration, order-taking and transfer agency services.
Neuberger Berman launched its first actively managed ETFs in April 2022. The three new ETFs will invest in companies related to the following distinct thematic megatrends: technology disruption, digitally connected consumers, and infrastructure-enabling decarbonization. Managed by Neuberger Berman, the ETFs are an extension of the firm's thematic equity investment capabilities utilizing traditional fundamental equity research along with alternative data capabilities and consideration of material Environmental, Social and Governance (ESG) factors.
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Source: State Street Global Advisors
BlackRock's New ETFs Aim to Capitalize on Market's 'Permanent Changes'
May 2, 2022--BlackRock has launched two exchange-traded funds (ETFs) designed to capitalize on what the world's largest asset manager says are permanent changes in the economy and the market.
The new ETFs, iShares Emergent Food and AgTech Multisector ETF (IVEG) and iShares Blockchain and Tech ETF (IBLC), are examples of thematic investing.
They aim to benefit from "underestimated investment opportunities" based on emerging structural changes. Here's what it means for investors.
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Source: yahoo.com
ETFGI reports the ETFs industry in the United States gathered net inflows of US$97.70 billion during March 2022
April 29, 2022-- ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that the ETFs industry in the United States gathered net inflows of US$97.70 billion during March, bringing year-to-date net inflows to US$196.74 billion.
At the end of the month, assets invested in ETFs industry in the United States increased by 3.0%, from US$6.84 trillion at the end of February to US$7.04 trillion, according to ETFGI's March 2022 US ETFs and ETPs 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
Assets of $7.04 Tn invested in ETFs industry in the United States at the end of Q1 are 2nd highest on record.
Assets decreased 2.3% in Q1 2022, going from $7.21 Tn at end of 2021 to $7.04 Tn.
ETFs industry in the United States gathered net inflows of $97.70 billion during March
Q1 net inflows of $196.74 Bn are 2nd highest on record, after Q1 2021 net inflows of $252.22 Bn.
$864.30 Bn in net inflows gathered in the past 12 months.
31st month of consecutive net inflows.
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Source: ETFGI
