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New Realities in Wealth Management: U.S. Client Asset Growth Stalls in Down Market
May 16, 2019--Total U.S. client assets with brokers and registered investment advisors fell by US$495 billion to US$23.7 trillion in 2018, finds a new Aite Group report.
Total client assets in the U.S. wealth management industry have grown almost every year since 2008. In 2018, however, client assets dropped by 2.1%, the largest decline in over a decade.
This drop corresponded to a 4.4% decline in the S&P 500 Total Return Index. The 10-year compound annual growth rate of client assets now stands at 8%. Aite Group's latest report, New Realities in Wealth Management: U.S. Client Asset Growth Stalls in Down Market, examines the year's changes in the U.S. wealth management industry.
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Source: Aite Group, LLC
Evolve Cyber Security Index Fund Launches U.S. Dollar Unhedged ETF Units (TSX: CYBR.U)
May 16, 2019--Evolve Funds Group Inc. ("Evolve") is pleased to announce the launch of U.S. dollar denominated unhedged ETF units ("USD Unhedged ETF Units") of the Evolve Cyber Security Index Fund ("CYBR"), making it more convenient for Canadians who want to use U.S. dollars to invest.
The Evolve Cyber Security Index Fund has closed its initial offering of USD Unhedged ETF Units and will begin trading on the Toronto Stock Exchange ("TSX") today under the ticker symbol "CYBR.U".
CYBR.U follows the launch of Canadian dollar hedged (TSX: CYBR) and Canadian dollar unhedged (TSX: CYBR.B) ETF units on September 20, 2017.
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Source: Evolve ETFs
Innovator Preps to Expand Defined Outcome Suite With Monthly Series of S&P 500 Buffer ETFs
May 15, 2019--Monthly Issuance Provides Advisors a Wider Range of Return Profiles, and Additional Opportunities to Allocate Near the Beginning of an Outcome Period
Innovator Capital Management, LLC (Innovator) announced today plans to expand its category creating Defined Outcome ETFsm suite, moving to a monthly issuance of Innovator S&P 500 Buffer ETFs, beginning with the June Series anticipated to list on the Cboe, June 3rd, 2019.
"Based on robust investor demand across our Defined Outcome ETFsm suite, we are moving forward with a monthly issuance of Innovator S&P 500 Buffer ETFs to provide advisors with additional return profiles to choose from, and more opportunities to allocate near the beginning of an outcome period," said Bruce Bond, CEO of Innovator ETFs. "We believe having a broader range of S&P 500 Buffer ETFs available provides investors much greater flexibility in managing portfolios, be it to lock in gains, obtain new buffer levels to mitigate downside risk, or higher upside caps as prevailing market conditions change over time."
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Source: Innovator Capital Management, LLC
CFTC.gov Swaps Report Update
May 15, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Pimco and TCW funds whacked in Morningstar ratings revamp
May 14, 2019--Pimco and TCW funds whacked in Morningstar ratings revamp.
Several of the world's largest bond funds, including products from investment powerhouses Pimco and TCW, have been stripped of coveted four-and five-star ratings after Morningstar rejigged its ranking system for $1.5tn of fixed income funds.
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Source: FT.com
Quadratic Capital Launches IVOL, The Quadratic Interest Rate Volatility and Inflation Hedge ETF
May 14, 2019--IVOL is the first-of-its-kind ETF that is long fixed income volatility and designed to hedge against and profit from a steepening yield curve
Quadratic Capital Management (Quadratic) today announced the launch of its first exchange-traded fund, the Quadratic Interest Rate Volatility and Inflation Hedge ETF (NYSE Arca: IVOL).
IVOL is a first-of-its-kind fixed income ETF1 which seeks to hedge against an increase in inflation, and to profit from an increase in interest rate volatility and a steepening of the yield curve, whether that occurs via rising long-term interest rates or falling short term interest rates. A steepening yield curve has historically been associated with large equity market declines.
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Source: Quadratic Capital Management
These 3 China ETFs are Oversold and Undervalued
May 14, 2019--In little over a week since President Trump's tweet announcing tariffs on many Chinese goods would rise from 10% to 25%, the 28 Chinese equity funds in our database have lost an average of 10.4%, which is more than double the drop in the S&P 500 SPDR (SPY) since then. Many of the Chinese ETFs are also considered oversold, with Relative Strength Indicators (RSI) of below 30.
Traders are right to worry about the fallout from a trade war between the U.S. and China. The damage to corporate profits—whether severe or barely noticeable—is unknowable. This uncertainty is rightly being reflected in stock prices. But it is also likely that there are bargains among the wreckage, and investors might be able to pick up solid companies at a discount.
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Source: The Forum at ETF Research Center
US regulator SEC gives go-ahead for first 'negative fee' fund
May 13, 2019--The Securities and Exchange Commission (SEC), the US financial regulator, has approved the first ever "negative fee" fund, which will pay investors for depositing their money.
New York-based Salt Financial has waived its 0.29 per cent fee and will contribute 0.05 per cent to the fund instead meaning an investor will receive $5 (£3.86) for every $10,000 put into the new fund.
Investors in the Salt Low Tru Beta US Market ETF will benefit from the fee waiver agreement until the fund reaches $100m of assets.
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Surce: cityam.com
Cboe Global Markets Welcomes 16 Barclays iPath(R) ETNs to its Listings Marketplace
May 13, 2019--Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today welcomed 16 iPath(R) Exchange Traded Notes (ETNs) from Barclays to the Cboe Listed Marketplace-one of the single largest transfers the exchange has handled to date.
With the addition of these ETNs, Cboe is now the primary listing venue for an expanded suite of iPath(R) ETNs, including Barclays' entire set of volatility ETNs. There are currently a total of 18 Barclays ETNs, with approximately $1.62 billion dollars in consolidated assets under management, listed on Cboe.
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Source: Cboe Global Markets, Inc
FTSE Russell Small cap's flight from darkness
May 13, 2019--Index IDEA: US small caps gain strength in 2019 as new investor tools emerge
After underperforming US large cap stocks by more than 6% in 2018-and more than 8% over the past year as of May 3-US small cap stocks have changed course in 2019, gaining 20.2% relative to an 18.7% return for US large cap stocks through May 3. This recent run of stronger relative performance highlights the investor need to manage exposure to this important asset class.
Small cap's flight from darkness
The beginning of May has seen a brief outbreak of volatility, triggered by concerns of escalating US/China trade war tensions. And although the path forward remains to be seen during these times of uncertainty, it seems a fitting time to look at past instances of volatility—and to reflect on how resilient the markets can be.
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Source: FTSE Russell
