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S&P 500 trackers hit a record 27% of 2023 equity ETF flows
April 2, 2024--Rise of Magnificent Seven helped to push flows to ETFs tracking the blue-chip index to an all-time high of $137bn
Wall Street's blue-chip S&P 500 index captured its highest share of global equity exchange traded fund flows for at least a decade last year, as the rise of the so-called Magnificent Seven reshaped benchmarks worldwide.
ETFs tracking the S&P 500 vacuumed up a record $137bn in net terms last year, according to data from Vanguard, surpassing the previous peak of $119bn in 2021.
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Source: ft.com
Leading healthcare fund manager RA Capital launches biotech ETFs
April 1, 2024--As part of a systematic growth strategy aimed at attracting capital to the biotechnology sector, RA Capital Management, LP, is announcing the launch of a set of Exchange Traded Funds (ETFs) to be marketed to discerning retail and institutional investors.
The first ETF that RA Capital will begin trading today is RABB (RA Best Biotech ETF). This fund is composed of what RA Capital has termed "core" development-stage biotech companies held by at least one biotech specialist peer fund.
In 2023, Core biotech stocks dramatically outperformed those not owned by specialists (known as "peripheral" stocks) and represented 100% of the holdings of healthcare specialists. Partially explaining that outperformance is the fact that over 98% of M&A dollars flowed to Core biotechs.
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Source: RA Capital Management, LP
FusionIQ Launches FIQ Market One, Disrupting Traditional Investment Marketplaces
March 27, 2024--Digital market to provide access to a diverse array of investment opportunities through unified, white-labeled client and advisor portals
FusionIQ, a leader in the delivery of cloud-based wealth management solutions with their all-in-one digital platform for financial advisors and institutions, today announced the launch of its groundbreaking FIQ Market One on the FusionIQ One platform.
The innovative product marks a significant shift in the wealth management industry, offering a comprehensive investment solution for investors and advisors.
FIQ Market One transforms the landscape of wealth management, providing access to a diverse array of investment opportunities, including digital assets, special purpose vehicles (SPVs), alternative funds, private investments, and exchange-traded funds (ETFs) in a single market. Through white-labeled, unified advisor and client portals, investors can seamlessly navigate and invest in these assets, revolutionizing the traditional investment model.
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Source: FusionIQ
ETF Architect Announces Change to the Strive U.S. Energy ETF (NYSE: DRLL)
March 26, 2024--Effective on or about Thursday, April 11, 2024, the Strive U.S. Energy ETF (the "Fund") will undergo a change to its benchmark.
Current Benchmark: Solactive United States Energy Regulated Capped Index
New Benchmark: Bloomberg US Energy Select Index
The benchmark of the Fund will be moving to the Bloomberg US Energy Select Index (the "Index"), which measures the performance of U.S. oil and gas producers.
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Source: ETF Architect
Inspire Launches 9 Basis Point Faith-based ETF
March 26, 2024-- Inspire Investing, the world's largest provider of faith-based ETFs, has just launched a 0.09% expense ratio U.S. large cap fund, the Inspire 500 ETF [ticker: PTL], ushering in a new era of low cost investing for faith-based investors.
PTL is currently the lowest cost faith-based ETF available in the U.S. and is Inspire's ninth fund.
PTL tracks the Inspire 500 Index comprised of the largest 500 companies in the United States by market capitalization with positive biblical values alignment as determined by Inspire Impact Scores greater than or equal to zero.
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Source: Inspire Investing
Tidal and Hashdex Announce Trading of U.S. Spot Bitcoin ETF
March 26, 2024-- Hashdex Bitcoin ETF offers U.S. investors exposure to spot bitcoin following product conversion
Tidal Investments LLC ("Tidal” or the "Sponsor"), a leading name in the ETF industry, and Hashdex Asset Management Ltd. ("Hashdex"), a leading global crypto-focused asset manager, today announced the renaming of the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF ("DEFI" or "Fund") (Ticker NYSE Arca: DEFI, CUSIP: 88634V100).
DEFI's renaming corresponds to DEFI's completion of the conversion of its investment strategy to allow the Fund to provide spot bitcoin holdings and its tracking of a new benchmark index effective March 27, 2024.
The Fund’s new benchmark index is the Nasdaq Bitcoin Reference Price-Settlement (NQBTCS), which better reflects the Fund’s new strategy of direct bitcoin investment. Going forward and under normal market conditions, the Fund’s investment policy is to maximize its holdings of physical bitcoin such that it is expected that at least 95% of the Fund's assets will be invested in spot bitcoin. Up to 5% of the Fund's remaining assets may be invested in CME-traded bitcoin futures contracts and in cash and cash equivalents.
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Source: Hashdex
Avantis Investors Launches New Active Emerging Markets ETF
March 21, 2024--Avantis Investors, a $40 billion* investment offering from global asset manager American Century Investments, expands its investment capabilities with the launch of a new exchange traded fund (ETF) today. Avantis Emerging Markets ex-China Equity ETF (AVXC) is now listed on the NASDAQ Exchange.
"We are excited about the debut of our latest ETF, AVXC, which marks our 28th active ETF launch since fall 2019," said Phil McInnis, chief investment strategist, Avantis Investors. "The continued adoption we see from investors across our range of offerings reinforces the belief we had when we started Avantis. Investors see value in low-cost, well-designed active strategies that combine the best elements of indexing with the potential to achieve better outcomes."
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Source: American Century Investments
Exchange Traded Concepts Announces Launch of BCIL ETF with Bancreek Capital Advisors
March 21, 2024--Exchange Traded Concepts is pleased to announce the launch of the Bancreek International Large Cap ETF (NYSE: BCIL). The Fund began trading on the New York Stock Exchange on 3/21/24.
This actively managed exchange-traded fund (ETF) seeks long-term capital appreciation by utilizing a rigorous, quantitative framework to invest in securities of large capitalization issuers outside of the United States.
Andrew Skatoff, Founder and CEO of Bancreek Capital Advisors, LLC, shares, "After the successful launch of our flagship ETF, Bancreek Large Cap U.S. ETF (NYSE: BCUS), we are thrilled to bring BCIL to the market. While BCUS focuses on U.S. listed companies, we believe there are also many wonderful businesses outside of the U.S. Unfortunately for investors, there are only a limited number of ETF options for the public to invest in a collection of these companies. With BCIL, we have deployed our proprietary framework and quantitative tools to make investing in structurally advantaged businesses outside the U.S. more accessible for investors."
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Source: Exchange Traded Concepts, LLC
Global X ETFs and CoinDesk Indices Launch First Bitcoin Trend Indicator in an ETF Wrapper
March 21, 2024--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), in partnership with CoinDesk Indices, a market-leading provider of digital asset indices since 2014, today launched the Global X Bitcoin Trend Strategy ETF (Ticker: BTRN). BTRN is the first ETF to leverage the CoinDesk Bitcoin Trend Indicator ("BTI") signal.
Digital assets represent a compelling option for portfolio allocation as adoption rates increase and new use cases are implemented. Bitcoin is the largest digital asset by market capitalization and has one of the most robust user networks.ii
"BTRN was designed to help navigate various market cycles by providing dynamic exposure to bitcoin futures based on bitcoin's current price trend. The simple, yet powerful idea behind trend strategies is that markets respond slowly to news and changes.
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Source: Global X Management Company LLC
CBO-The Long-Term Budget Outlook: 2024 to 2054
March 20, 2024--The Federal Budget
The deficit increases significantly in relation to gross domestic product (GDP) over the next 30 years, reaching 8.5 percent of GDP in 2054. That growth results from rising interest costs and large and sustained primary deficits, which exclude net outlays for interest.
Primary deficits are especially large given the forecast of low unemployment rates; those deficits average 0.6 percentage points of GDP more over the next 30 years than they did over the past 50 years.
Debt held by the public, boosted by the large deficits, reaches its highest level ever in 2029 (measured as a percentage of GDP) and then continues to grow, reaching 166 percent of GDP in 2054 and remaining on track to increase thereafter. That mounting debt would slow economic growth, push up interest payments to foreign holders of U.S. debt, and pose significant risks to the fiscal and economic outlook; it could also cause lawmakers to feel more constrained in their policy choices.
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Source: cbo.gov
