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PGIM Investments Launches Floating Rate ETF
May 24, 2022--PGIM Investments continues to build out its actively managed fixed income ETF lineup with the launch of the PGIM Floating Rate Income ETF (NYSE Arca: PFRL). The new ETF, which seeks to maximize current income by investing primarily in senior floating rate loans, is managed by PGIM Fixed Income,1 one of the largest and most experienced leveraged finance managers with $38 billion in floating rate loan assets under management as of March 31, 2022.
PGIM is the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
The PGIM Floating Rate Income ETF’s investment strategy mirrors the $4.6 billion PGIM Floating Rate Income Fund which ranks in Morningstar’s top decile for total returns over the 3-, 5- and 10-year periods ending March 31, 2022.
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Source: PGIM Investments LLC
Minutes of the Federal Open Market Committee, May 3-4, 2022
May 24, 2022--Developments in Financial Markets and Open Market Operations
The manager turned first to a discussion of monetary policy expectations in the United States. Federal Reserve communications since the March FOMC meeting were perceived as signaling a more rapid removal of policy accommodation than had been expected, resulting in significant shifts in expectations regarding the path of the federal funds rate.
For the current meeting, federal funds futures implied around 50 basis points of policy rate tightening, and Open Market Desk survey respondents assigned an average probability of 80 percent to that outcome.
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Source: federalreserve.gov
Harbor Capital Advisors Launches Dividend Growth Leaders ETF
May 23, 2022--Harbor Capital Advisors, Inc. ("Harbor"), today launched the Harbor Dividend Growth Leaders ETF (GDIV), adding to its lineup of active, fully transparent ETFs. The Westfield Capital Dividend Growth Fund assets have been acquired by Harbor and merged into the newly established active ETF.
The management of the fund and its investment strategy will remain the same. Along with ETFs, Harbor offers a curated experience of mutual funds and collective investment trusts (CITs).
"We are thrilled to extend our long-term strategic partnership with Westfield Capital Management, providing advisors and investors with another high conviction investment solution.
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Source: Harbor
High-value bond ETF trades rise sharply from last year
May 23, 2022--Market participants say evidence points to increasing participation by large institutional investors.
Large institutions are increasingly using bond exchange traded funds to manage their portfolios according to market participants, who expect this trend to increase liquidity and reduce fixed income ETF trading costs for all investors.
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Source: ft.com
Meme-themed, social media-driven ETFs plummet in value
May 20, 2022--The narrowly focused funds that rely on the wisdom of crowds are failing to deliver this year
Reddit's Wall Street Bets crowd may once have vowed to take meme stocks "to the moon", instead they and the exchange traded funds that focus on them have been eclipsed by steady, boring earthbound investments.
The particularly poor performance of social media-driven, meme-themed ETFs is partly due to favoured constituent stocks such as computer game retailer GameStop, cinema operator AMC Entertainment and electric vehicle maker Rivian badly undershooting.
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Source: ft.com
Indxx US Top 10 Tech-Monthly Rebalancing Index Licensed by KSM Mutual Funds Ltd for an Index Tracking Fund
May 19, 2022--Indxxis pleased to announce the licensing of their Indxx US Top 10 Tech-Monthly Rebalancing Indexto Israel-based KSM Mutual Funds Ltd. The index will serve as the underlying benchmark for the KSM KTF (4A) Indxx US Top 10 Tech -Monthly Rebalancing Currency Hedged (Ticker: 5134986).
The Index (ITOPTENT) is designed to track the performance of the top 10 largest tech-oriented companies that are listed on the NASDAQ Stock Exchange.
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Source: Indxx
T Rowe Price to target rising rates with planned bond ETF
May 18, 2022--Manager plans to launch the Floating Rate ETF and US High Yield Bond ETF in August
T Rowe Price plans to add strategies to its nascent bond ETF suite, including one that aims to defend portfolios from rising interest rates.
The manager plans to launch the Floating Rate ETF and the US High Yield Bond ETF, according to paperwork filed last week. The products are set to join three other fixed-income ETF strategies that the firm launched in September 2021.
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Source: ft.com
New ETF Suite Leverages Proprietary Factor-Based Approach
May 18, 2022-SEI (NASDAQ: SEIC) today announced the launch of its first ETFs, a suite of four large-cap, factor-based strategies designed to support a goals-based wealth management approach.
The new funds include the:
SEI Enhanced U.S. Large Cap Quality Factor ETF
SEI Enhanced U.S. Large Cap Momentum Factor ETF
SEI Enhanced U.S. Large Cap Value Factor ETF
SEI Enhanced Low Volatility U.S. Large Cap ETF
SEI's Factor ETF suite seeks to provide long-term capital appreciation, utilizing a quantitative-based, active stock selection investment strategy to evaluate large-capitalization stocks tailored to each of the respective factors.
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Source: SEI
Simplify Announces Launch of the Simplify Macro Strategy ETF (FIG) Led by Hedge Fund Veteran Michael Green
May 17, 2022--New fund will offer a modern take on the balanced portfolio, helping investors navigate the asset allocation challenge presented by the current market environment
Simplify Asset Management ("Simplify"), an innovative provider of Exchange Traded Funds ("ETFs") designed to solve today’s most pressing portfolio construction challenges, is today launching its newest ETF, the Simplify Macro Strategy ETF (NYSE Arca: FIG).
FIG is a modern take on the balanced portfolio, designed to be a risk-balanced portfolio of asset classes structured to pursue equity-like returns with lower volatility The Fund will invest in equity, fixed income, and alternative ETFs and derivatives, with a trading strategy that is based on the portfolio management team's interpretation of large economic events on the national, regional, and global scale.
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Source: Simplify Asset Management Inc
How much higher can interest rates go? A lot higher.
May 19, 2022--There has recently been a lot of talk in the market, on financial news and elsewhere that basically takes the following form:
Yes, the Fed has to raise short-term interest rates. They will move 50 basis points at each of the next "X" meetings. However, the market has already priced it in, so we have seen peak inflation and we have seen the worst in long-term rates.
This view could not be more wrong.
Medium- and long-term interest rates can and very likely will go a lot higher.
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Source: foliobeyond.com
