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Amid ESG backlash, responsible investors are holding on to their commitments
October 24, 2024--While one-fifth of asset managers have dropped the ESG label, more than half still believe the data has value in mitigating risks and boosting returns.
New research from Cerulli Associates reveals that despite increasing political pressures, many institutional investors and asset managers in the US remain committed to responsible investing, though some are adjusting their approach to avoid political scrutiny.
The study, US Responsible Investing 2024, highlights how political backlash against environmental, social, and governance considerations has influenced industry behavior.
The report shows that while some institutional investors are reconsidering their stance on ESG, most are standing firm. About one in 10 asset owners have scaled back their integration of ESG factors due to the heated political climate. One-third of institutions (34 percent) were motivated by concerns about the cost and time involved in responding to political pushback, while others acted out of fear of litigation (24 percent) and stakeholder pressure (14 percent).
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Source: investmentnews.com
Amplify ETFs Launches the Amplify Small-Mid Cap Equity ETF (NYSE Arca: SMAP)
October 23, 2024--Amplify ETFs announces the launch of the actively managed Amplify Small-Mid Cap Equity ETF (NYSE Arca: SMAP), offering investors targeted exposure to high-quality U.S.-listed small- and mid-cap growth and value equity securities.
SMAP seeks to invest in companies with market capitalizations between $400 million and the largest companies in the Russell 2500 Index, giving successful companies room to run into mid-cap without forced premature selling. Curi RMB Capital actively manages SMAP by using a proprietary economic return framework to identify attractively priced small- to mid-cap companies across all stages of the corporate lifecycle while building a portfolio diversified by corporate lifecycle stage and sector.
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Source: Amplify ETFs
Tuttle Capital Management Launches European Aerospace and Defense Industry ETF
October 22, 2024--Select STOXX Europe Aerospace & Defense ETF (ticker symbol EUAD)
The Select STOXX Europe Aerospace & Defense ETF (the "Fund") will start trading today. The Fund invests at least 80% of its total assets in the component securities of the STOXX Europe Total Market Aerospace & Defense Index.
The Fund will also invest, under normal circumstances, at least 80% of its net assets in exchange listed common stock or ADRs of companies based (headquartered) in Europe who derive at least 50% of their revenue from the manufacture, service, supply and distribution of aeronautical equipment, components, hardware, software or electronic systems; and equipment, systems, components, infrastructure support services, and hardware, software and electronics that directly support civil and military defense efforts.
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Source: Tuttle Capital Management
Defiance Launches XMAG The First ETF Offering Exposure to the S&P 500 Excluding the "Magnificent 7" Tech Giants
October 22, 2024--The Mag 7 represents a disproportionately large percentage of many investors' ETFs, mutual funds and stock portfolios, limiting attempts at diversification
Defiance, a leading innovator in exchange-traded funds (ETFs), today announces the launch of the Defiance Large Cap Ex-Magnificent Seven ETF (XMAG).
The ETF will be the first of its kind, offering investors exposure to equities in the S&P 500 without the inclusion of the Magnificent Seven ("Mag 7") (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla).
XMAG offers a unique opportunity for investors to access the broader market while reducing concentration risk in these dominant tech stocks.
Many investors that use diversified investment funds have seen their portfolios increasingly concentrated in exposure to the Mag 7, which represent large holdings across tech-, growth-, and innovation-focused strategies.
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Source: Defiance ETFs
Amplify ETFs Announces the Amplify Bloomberg AI Value Chain ETF (NYSE: AIVC)
October 21, 2024--AIVC seeks to provide equal-weighted global exposure to three types of companies integral to the AI value chain, replaces Amplify Global Cloud Technology ETF (IVES)
Amplify ETFs announces its newly appointed fund, the Amplify Bloomberg AI Value Chain ETF (NYSE: AIVC).
According to forecasts, the global AI market is expected to grow from $638 billion in 2024 to $3.6 trillion by 2034.1 This growth will be driven by increased AI spending across the private sector, government initiatives and individuals. AIVC is positioned to capture these trends through its unique AI value chain focus.
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Source: Amplify ETFs
FRB Beige Book-October 18, 2023
October 18, 2024--Overall Economic Activity
On balance, economic activity was little changed in nearly all Districts since early September, though two Districts reported modest growth. Most Districts reported declining manufacturing activity.
Activity in the banking sector was generally steady to up slightly, and loan demand was mixed, with some Districts noting an improvement in the outlook due to the decline in interest rates. Reports on consumer spending were mixed, with some Districts noting shifts in the composition of purchases, mostly toward less expensive alternatives.
Housing market activity has generally held up: inventory continued to expand in much of the nation, and home values largely held steady or rose slightly. Still, uncertainty about the path of mortgage rates kept some buyers on the sidelines, and the lack of affordable housing remained a persistent problem in many communities. Commercial real estate markets were generally flat, although data center and infrastructure projects boosted activity in a few Districts. The short-lived dockworkers strike caused only minor temporary disruptions. Hurricane damage impacted crops and prompted pauses in business activity and tourism in the Southeast.
Agricultural activity was flat to down modestly, with some crop prices remaining unprofitably low. Energy activity was also unchanged or down modestly, and lower energy prices reportedly compressed producers' margins. Despite elevated uncertainty, contacts were somewhat more optimistic about the longer-term outlook.activity. Activity in the banking sector was generally steady to up slightly, and loan demand was mixed, with some Districts noting an improvement in the outlook due to the decline in interest rates. Reports on consumer spending were mixed, with some Districts noting shifts in the composition of purchases, mostly toward less expensive alternatives.
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Source: federalreserve.gov
ETFGI reports assets invested in the ETFs industry in the United States reached a new record high of US$10 trillion at the end of September
October 16, 2024--ETFGI, a prominent independent research and consultancy firm specializing in providing subscription research on trends in the global ETFs industry, reported today assets invested in the ETFs industry in the United States reached a new record high of US$10 trillion at the end of September.
During September the ETFs industry in the United States gathered net inflows of US$97.29 billion, bringing year-to-date net inflows to a record US$740.81 billion, according to ETFGI's September 2024 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 invested in the ETFs industry in the United States reached a record of $10 Tn at the end of September beating the previous record of $9.74 Tn at the end of August 2024.
Assets have increased 23.2% YTD in 2024, going from $8.11 Tn at end of 2023 to $10 Tn.
Net inflows of $97.29 Bn in September 2024.
YTD net inflows of $740.81 Bn are the highest on record, followed by YTD net inflows of $650.04 Bn for 2021 and the third highest recorded YTD net inflows are of $412.07 Bn in 2022.
29th month of consecutive net inflows.
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Source: ETFGI
New ETF Combines Digital and Physical Currency, Provides 100% Exposure to Bitcoin & 100% Exposure to Gold
October 16, 2024--The STKD Bitcoin & Gold ETF (BTGD) offers 2-for-1 Thematic Stacks, a new twist on portable alpha, "stacking" two investments on top of each other for the potential of excess returns and diversification
Through the combination of a digital currency (bitcoin) and a physical currency (gold) in a single vehicle-the STKD Bitcoin & Gold ETF (BTGD), launching today- investors now have the opportunity to invest in two scarcity assets that may protect against future inflation and currency debasement.
BTGD is unique in that for every $1 invested the Fund seeks to provide 100% of exposure to its bitcoin strategy and 100% of exposure to its gold strategy.
The bitcoin strategy seeks to capture the price return of bitcoin, investing in bitcoin futures and ETPs, while the gold strategy similarly seeks to capture the price return of gold via investments in gold futures and gold ETPs.
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Source: Quantify Funds
Virtus Introduces Virtus KAR Mid-Cap ETF
October 16, 2024--Virtus Investment Partners, Inc. (NYSE: VRTS) has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus KAR Mid-Cap ETF, (NYSE: KMID), the first ETF strategy managed by Kayne Anderson Rudnick (KAR).
The Virtus KAR Mid-Cap ETF is an actively managed, concentrated portfolio consisting of 25-35 high-quality mid-cap stocks, selected using KAR's disciplined and rigorous business-analyst approach to fundamental research, and looking to own these businesses for the long run. KMID aims to generate attractive risk-adjusted long-term returns by offering investments in businesses with sustainable competitive advantages that can maintain above-average growth and are better positioned to exceed consensus growth expectations.
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Source: Virtus Investment Partners
Hurricane-themed ETF to be liquidated
October 14, 2024--ProcureAM's $3mn FIXT fund, which invests in natural disaster recovery, has been unable to attract investors
An ETF that invests in companies involved in natural disaster recovery and prevention will be shuttered, its sponsor disclosed last week, just days after Hurricane Helene made landfall in Florida.
ProcureAM, which manages the roughly $3mn Procure Disaster Recovery Strategy ETF (FIXT), filed to dissolve the fund last week following approval from its board of trustees. The fund's last day of trading on the Nasdaq exchange will be October 17, according to a regulatory filing.
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Source: ft.com
