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Tracker funds in the balance amid sector reclassifications
September 24, 2018--1,100 companies will switch 'home', generating billions in rebalancing trade.
The smooth running of dozens of tracker funds that together hold many billions of dollars face a major operational test following changes on Monday to the sector classifications of some of the most widely-followed US companies. Facebook, Alphabet and Twitter all move this week into an expanded US communication services sector from their previous home in the information technology sector, a shift that will require adjustments for the numerous exchange traded funds that own shares in these companies,
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Source: FT.com
A new S&P 500 sector is set to debut: Here's what investors need to know
September 24, 2018--Debut of Communications Services means three S&P 500 sectors will become more concentrated
U.S. stock-market investors are about to witness something that's hasn't been seen in decades: the creation of a new market sector.
Friday will see the launch of the S&P Communications Services sector, a reshuffling of major industry groups that will impact some of the most widely followed and traded names on Wall Street.
view more Invesco nears $5bn deal to buy OppenheimerFunds Lipper U.S. Weekly FundFlows Insight Report: Funds Suffer Overall Net Outflows Driven by Money Market Funds Market Overview
view more CBO-Uncertainty of CBO's Long-Term Projections view more Millennial heirs to change investment landscape view more CBO-The 2018 Long-Term Budget Outlook at a Glance
In CBO's projections, the federal budget deficit, relative to the size of the economy, grows substantially over the next several years, stabilizes for a few years, and then grows again over the rest of the 30-year period, leading to federal debt held by the public that would approach 100 percent of gross domestic product (GDP) by the end of the next decade and 152 percent by 2048—compared with 78 percent now. view more Five State Street ETFs to track Solactive's Global Benchmark Indices view more Thomson Reuters-Fund Investors and APs Embrace Fixed Income Funds and ETFs in August view more Treasury International Capital Data for July Foreign residents increased their holdings of long-term U.S. securities in July; net purchases were $40.6 billion. Net purchases by private foreign investors were $54.4 billion, while net sales by foreign official institutions were $13.8 billion. view more
Source: marketwatch.com
September 21, 208--Acquisition would lift assets under management to more than $1tn.
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Source: FT.com
September 21, 2018--Lipper's fund asset groups (including both mutual funds and ETFs) saw $15.1 billion net leave their coffers for the fund-flows week ended Wednesday, September 19.
Money market funds (-$19.5 billion) were responsible for all the net outflows, while taxable bond funds (+$3.3 billion), equity funds (+$998 million), and municipal debt funds (+$141 million) all took in net new money.
The Dow Jones Industrial Average and the S&P 500 Index appreciated 1.56% and 0.66%, respectively, for the fund-flows week. The markets appeared to be taking the escalating trade tensions in stride. President Trump announced tariffs on another $200 billion of Chinese goods on Monday and followed that up later in the week with the threat of more tariffs on $267 billion of imports.
Source: Thomson Reuters
September 21, 2018--In June, the Congressional Budget Office published The 2018 Long-Term Budget Outlook, the latest installment of an annual report describing the agency's projections of federal spending, revenues, deficits, and debt over the next 30 years.
In that report, CBO projected that growing budget deficits would boost federal debt held by the public sharply over the next 30 years; that debt would approach 100 percent of gross domestic product (GDP) by the end of the next decade and 152 percent by 2048. That amount would be the highest in the nation’s history by far. This blog post discusses the uncertainty surrounding those projections.
Source: Congressional Budget Office (CBO)
September 20, 2018--A generational shift towards impact investing will test the financial industry's mettle
A couple of years ago US Trust, a private bank, did some fascinating number-crunching on the nature of American wealth. It estimated $12tn..
Source: FT.com
September 20, 2018--In June, CBO released The 2018 Long-Term Budget Outlook, the latest installment of an annual report describing the agency's projections of federal spending, revenues, deficits, and debt over the next 30 years. This week, CBO is publishing two blog posts to share key excerpts from the report.
Today's post presents some of the report's key takeaways.
Source: Congressional Budget Office (CBO)
September 19, 2018--Solactive is pleased to announce that State Street Global Advisors as one of the leading asset managers globally is starting to use Solactive indices as underlying for five members of the SPDR ETF family. The indices tracked are part of our newly launched Global Benchmark Series
Each index covers the top 85% of the corresponding equity market in terms of free float market capitalization. The consideration of strict liquidity criteria ensures the tradability of the assets linked to each benchmark index. The indices are rebalanced on a semi-annual basis in May and November with additional IPO reviews in February and August. Buffer rules are applied to prevent undesired high index turnover. The indices are weighted by free-float market capitalization and are calculated in US-Dollar.
Source: Solactive AG
September 19, 2018--For the second consecutive month investors were net purchasers of mutual fund assets, injecting $7.5 billion into the conventional funds business (excluding ETFs) for August.
Also for the second month in a row, money market funds witnessed net inflows, taking in $28.6 billion for August. Despite Federal Reserve Chair Powell’s outlining the Fed’s plans to hike its key lending rate, for the sixth month running the fixed income funds macro-group also witnessed net inflows, taking in $11.7 billion for August. However, for the fourth consecutive month stock & mixed-asset funds witnessed net outflows (-$32.8 billion for August).
Source: Thomson Reuters
September 18, 2018--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for July 2018. The next release, which will report on data for August 2018, is scheduled for October 16, 2018.
The sum total in July of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $52.2 billion.
Of this, net foreign private inflows were $71.6 billion, and net foreign official outflows were $19.4 billion.
Source: Treasury.gov
