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Franklin confirms deal for Legg Mason to create $1.5tn group
February 18, 2020--Franklin Resources has confirmed that it is in the process of acquiring rival asset management company Legg Mason, in a deal that would boost its assets under management to $1.5tn.
Under the terms of the deal, Franklin Resources will purchase Legg Mason, which owns nine investment firms in its multi-affiliate model, in an all-cash offer.
Under the terms of the deal, it will also assume approximately $2bn of Legg Mason's outstanding debt.
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Source: citywireselector.com
Local bourse closes firmer after mixed session
February 13, 2020--The US Fed has indicated that it is closely assessing the potential impact to growth that could stem from the epidemic, while in China measures such as reserve requirement cuts have been taken to bump up liquidity in the markets.
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Source: FIN24
BlackRock Climate Vow Pays Off With New ETF’s $600 Million Debut
February 11, 2020--An exchange-traded fund from the New York-based money manager has attracted more than $600 million this week, despite only starting trading on Friday, data compiled by Bloomberg show. That's the best debut for any U.S. ETF this year, and a sign BlackRock isn't the only one that sees climate change as a defining factor in companies' long-term prospects.
Investing in companies that care about environmental, social and governance issues is finally catching on after years of sluggish growth. While only a small drop in the $4.5 trillion U.S. ETF market, sustainable funds added more than $8 billion in 2019 and assets recently topped $20 billion.
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Source: finance.yahoo.com
Investors Have a Powerful New Tool Designed to Protect Against Downside Risk With the Launch of the Armor US Equity Index ETF
February 11, 2020--A 10-year old bull market, renewed volatility, the tendency of investors to mistime markets all make ARMR a key bulwark in the effort to maintain gains and avoid significant sell-offs
Armor Index, Inc., an innovative new provider of indices designed to protect against downside risk across a number of asset classes, in conjunction with Exchange Traded Concepts, LLC ("ETC"), one of the leading provider of white label ETF services, today announced the launch of the Armor US Equity Index ETF.
ARMR seeks to provide investment returns that, before fees and expenses, correspond generally to the total return performance of the Armor US Equity Index. Rebalanced monthly, the index provides exposure to those sectors of the US economy that score the highest using Armor’s proprietary market performance indicator (MPI), which identifies the sectors best positioned to offer strong, long-term performance potential with lower expected downside risk.
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Source: Armor Index, Inc.
Horizons ETFs lists budget-friendly US Large Cap ETF dedicated to Canadian Investors-Lower Fees possible due to Solactive
February 10, 2020-The US stock market keeps its attractiveness for contemporary investors. In 2019, Solactive's US Large Cap benchmark Index returned a record figure of 31.56% while sustaining a reasonable risk-profile alongside enjoying average volatility and low maximum drawdowns.
Canadian Asset Manager Horizons ETFs now issued a US-centered ETF tailored to Canadian Investors, who want to participate in the development of the US market at a low cost. With the Horizons US Large Cap Index ETF, Horizons ETFs creates an economically practical investment solution for Canadian investors to invest in their neighboring country's largest enterprises.
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Source: Solactive
CBO-Monthly Budget Review for January 2020
February 7, 2020--The federal budget deficit was $388 billion for the first four months of fiscal year 2020, CBO estimates, $78 billion more than the deficit recorded during the same period last year.
The federal budget deficit was $388 billion for the first four months of fiscal year 2020, CBO estimates, $78 billion more than the deficit recorded during the same period last year. Revenues and outlays alike were higher this year—by 6 percent and 10 percent, respectively-than during the first four months of fiscal year 2019.
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Source: CBO (Congressional Budget
Investors extend longest retreat from U.S. stock funds since 2016
February 5, 2020--Investors pulled nearly $12.6 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, extending the longest retreat from the U.S. stock market since 2016, according to data released Wednesday by the Investment Company Institute.
The outflows came during a week in which fears of the coronavirus outbreak in China led to the biggest declines in benchmark equity indexes in four months despite stronger than expected earnings from tech giants such as Apple Inc (AAPL.O).
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Source: reuters.com
First Trust Expands its ETF Lineup with the First Trust Merger Arbitrage ETF
February 5, 2020--An actively managed ETF that seeks to capitalize on the potential profit from a merger or other significant corporate activity.
First Trust Advisors L.P. ("First Trust") a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched the First Trust Merger Arbitrage ETF (NYSE Arca: MARB) (the "fund").
The fund seeks to provide investors with capital appreciation by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition.
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Source: First Trust
US economy grew modestly last quarter against a hazy outlook
January 30, 2020--The U.S. economy expanded at a moderate 2.1% annual rate in the final three months of 2019, capping a year when a weak global landscape and a sharp pullback in business investment resulting from President Donald Trump’s trade fights combined to slow growth.
The fourth-quarter rise in the gross domestic product-the economy's total output of goods and services-matched the third-quarter gain, the government said Thursday. For all of last year, economic growth-2.3%-was the weakest since Trump's election in 2016.
The picture that emerged Thursday from the government's first estimate of growth in the October-December quarter was a mixed one: Consumers kept spending, but they have grown more cautious. Incomes are rising but at a slower pace. Most alarmingly, businesses have been sharply reducing their investment as Trump’s ongoing trade fights have heightened uncertainty for corporations.
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Source: apnews.com
CBO-The Budget and Economic Outlook: 2020 to 2030
January 28, 2020--In CBO's projections of the outlook under current law, deficits remain large by historical standards, federal debt grows to 98 percent of GDP by 2030, and the economy expands at an average annual rate of 1.7 percent from 2021 to 2030.
CBO regularly publishes reports that present projections of what federal deficits, debt, revenues, and spending-and the economic path underlying them-would be for the current year and for the following 10 years and beyond if existing laws governing taxes and spending generally remained unchanged.
This report is the latest in that series-and it shows a cumulative 10-year deficit that is slightly larger and a cumulative 30-year deficit that is notably larger than those in CBO's previous projections.
The Budget
In CBO's projections, the federal budget deficit is $1.0 trillion in 2020 and averages $1.3 trillion between 2021 and 2030.
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Source: CBO (congressional Bidget Office)
