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The EDHEC-Princeton Retirement Goal-Based Investing Index Series January 2019 Highlights Goal Price Index Series
January 21, 2019--Goal Price Index Series
As usual, monthly changes in Goal Price Indices are mainly driven by changes in US long-term interest rates.
The first 10 months of 2018 featured an increase in long-term rates, with the 10-year rate growing from about 2.4% right after New Year's Eve to more than 3% in October. In contrast, the last quarter saw a decrease that took the 10-year rate back to 2.7% at the turn of the year. As a result, all Goal Price Indices start the year at higher levels than where they were in early December..
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Source: EDHEC-Risk Institute
FINRA 2019 Annual Risk Monitoring and Examination Priorities Letter
January 21, 2019--We are pleased to release the 2019 FINRA Risk Monitoring and Examination Priorities Letter, which describes topics that member firms should consider as they identify opportunities to improve their compliance, supervisory and risk management programs.
This year's letter takes a somewhat new approach—as compared to similar letters issued in prior years-by focusing primarily on those topics that will be materially new areas of emphasis for our risk monitoring and examination programs in the coming year. FINRA will, of course, continue to review and examine for longstanding priorities discussed in greater detail in past letters, but we agree with the suggestion from many of our member firms that a sharper focus on emerging issues will help them better determine whether those issues are relevant to their businesses and how they should be addressed.
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Source: FINRA
Lipper U.S. Weekly FundFlows Insight Report: Funds Suffer Net Outflows Driven by Money Market Funds
January 18, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) experienced net outflows of $14.2 billion for the fund-flows trading week ended Wednesday, January 16. Money market funds (-$15.0 billion) were responsible for the majority of the net negative flows as investors put money back to work.
Equity funds (-$4.4 billion) also contributed to the overall net outflows, while taxable bond funds and municipal debt funds had net inflows of $4.3 billion and $946 million, respectively.
Market Overview
The major equity indices continued to rebound from their fourth quarter slump as the Dow Jones Industrial Average (+1.37%), S&P 500 Index (+1.20%), and the NASDAQ Composite Index (+1.12%) all closed the fund-flows trading week with significant gains.
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Source: Refinitiv
State Street to lay off 1,500 in turn toward automation
January 18, 2019--State Street Corp. plans to lay off approximately 1,500 employees in "high-cost locations" and ramp up efforts to automate its services to clients, the company said Friday.
The newly announced layoffs go far beyond the job cuts to senior management reported by the Business Journal earlier this month. The senior managers are believed to make up roughly 10 percent of the 1,500 layoffs.
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Source: bizjournals.com
FTSE Russell Dividends helped smooth the small-cap roller coaster ride in 2018
January 18, 2019--January 18, 2019--US small-cap stocks with a track record of strong dividend growth had higher returns and less volatility versus the broad universe of US small-caps in 2018, in line with a similar trend demonstrated over the last decade.
And, notably, this outperformance accelerated in fourth quarter during a particularly volatile period for US equities in general and US small-caps in particular
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Source: FTSE Russell
Morningstar says investors rushed the exits in 2018
January 17, 2019--Net flows into mutual funds and ETFs were the lowest since the 2008 financial crisis, while money-market funds captured inflows
Investors ran for cover in 2018, according to the latest data from Morningstar showing last year's level of net inflows into U.S. mutual funds.
Net inflows into ETFs were the lowest since 2008.
In a year that saw the S&P 500 Index finish down 4.4%, taking into account dividends, including a fourth-quarter drop of more than 12%, net flows into U.S. funds totaled just $157 billion. Last year's net flows are still huge compared to the $11 billion in net flows from 2008, but pose a stark contrast to the nearly $700 billion in net flows in 2017.
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Source: investmentnews.com
US active funds suffer $143bn 'exodus' in December
January 17, 2019--Heaviest monthly outflows in 10 years as investors seek shelter in passive vehicles
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Source: FT.com
Blockchain Startup Aims to Cut Out Equifax From Loan Process
January 17, 2019--SoFi, OnDeck Capital join group to cut out credit bureaus
Sharing may be enabled by Spring Labs 'triple-blind' method
Blockchain startup Spring Labs is partnering with 16 lenders and fintech firms to test a system to eliminate centralized entities like credit bureaus from their role in granting loans to individuals and companies.
Credit bureaus such as Equifax Inc. and Experian Plc have risen to occupy a dominant role in the granting of loans because banks have several problems when it comes to sharing the customer information necessary to grant debt.
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Source: Bloomberg
Morningstar says investors rushed the exits in 2018
January 17, 2019--Investors ran for cover in 2018, according to the latest data from Morningstar showing last year's level of net inflows into U.S. mutual funds. Net inflows into ETFs were the lowest since 2008.
In a year that saw the S&P 500 Index finish down 4.4%, taking into account dividends, including a fourth-quarter drop of more than 12%, net flows into U.S. funds totaled just $157 billion. Last year's net flows are still huge compared to the $11 billion in net flows from 2008, but pose a stark contrast to the nearly $700 billion in net flows in 2017.
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Source: investmentnews.com
FTSE Russell launches Chinese Green Bond Index Series
January 17, 2019--New index Series tracks bonds whose proceeds are specifically used to finance climate or environmental projects
China is now second-largest green bond market globally-$37 billion issued in 2017
Growing global demand to incorporate ESG factors as a core part of investment and stewardship approaches.
FTSE Russell has 15+ year track record in promoting sustainable investment
FTSE Russell leading provider of China-linked benchmarks
FTSE Russell, the global index, analytics and data provider, has launched a new index series tracking Chinese green bonds. The FTSE Chinese (Onshore CNY) Green Bond Index Series will benchmark securities whose proceeds are specifically used to finance climate or environmental projects in mainland China.
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Source: FTSE Russell
