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SEC Proposes to Enhance Private Fund Investor Protection
February 9, 2022-- The Securities and Exchange Commission today voted to propose new rules and amendments under the Investment Advisers Act of 1940 (Advisers Act) to enhance the regulation of private fund advisers and to protect private fund investors by increasing transparency, competition, and efficiency in the $18-trillion marketplace.
"Private fund advisers, through the funds they manage, touch so much of our economy. Thus, it's worth asking whether we can promote more efficiency, competition, and transparency in this field," said SEC Chair Gary Gensler. "I support this proposal because, if adopted, it would help investors in private funds on the one hand, and companies raising capital from these funds on the other."
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Source: SEC.gov
SEC Issues Proposal to Reduce Risks in Clearance and Settlement
February 9, 2022--The Securities and Exchange Commission today voted to propose rule changes to reduce risks in the clearance and settlement of securities, including by shortening the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one business day after the trade date (T+1).
The proposed changes are designed to reduce the credit, market, and liquidity risks in securities transactions faced by market participants and U.S. investors.
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Source: SEC.gov
CBO-Monthly Budget Review: January 2022
February 8, 2022--Summary
The federal budget deficit was $259 billion in the first four months of fiscal year 2022, the Congressional Budget Office estimates. That amount is less than deficits recorded for the same period in the two prior years.
It is roughly one-third of the deficit recorded during the same period last year ($736 billion) and about two-thirds of the shortfall recorded for the same period two years ago ($389 billion), right before the start of the coronavirus pandemic. Revenues were $331 billion (or 28 percent) higher and outlays were $146 billion (or 8 percent) lower from October through January 2022 than during the same period last fiscal year.
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Source: CBO (congressional Budget Office)
Corporate lobbying ETF seeks to profit from influencing politician
February 7, 2022--Asset manager Strategas argues successful efforts to sway decision makers deliver earnings advantages for companies
New York-based Strategas Asset Management has unveiled an exchange traded fund designed to tap into companies' efforts to increase their...
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Source: FT.com
State Street cuts fees on $225bn in sector ETFs
February 4, 2022--State Street has slashed fees on 11 sector ETFs with $255bn in assets, a recent disclosure shows
Lower charges align with similar ETFs from Vanguard but remain more expensive than rival Fidelity offerings
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Source: ft.com
Harbor Capital Advisors Launches Long-Term Growers ETF
February 3, 20222-Harbor Capital Advisors, Inc. ("Harbor"), a premier investment firm offering access to specialized expertise across a range of investment strategies and vehicles, today launched the Harbor Long-Term Growers ETF (NYSE: WINN).
Harbor Long-Term Growers ETF (WINN) is a transparent, actively managed strategy that seeks long-term growth of capital and is managed by Jennison Associates (Jennison). WINN is built on Jennison's successful large-cap growth foundation, which is reflected in the Harbor Capital Appreciation Mutual Fund and additional vehicles ($46 billion in Assets Under Management as of December 31,2021).
The ETF expands the strategy's investable opportunity set by capturing additional high conviction ideas from Jennison's fundamental growth investment teams.
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Source: Harbor
Amplify ETFs Launches the Amplify Inflation Fighter ETF (NYSE: IWIN)
February 2, 2022--A Multi-Asset Approach to Help Fight Against Inflation
Amplify ETFs announces the launch of the Amplify Inflation Fighter ETF (NYSE: IWIN), an actively-managed ETF investing in asset classes that seek to benefit, either directly or indirectly, from inflation.
IWIN has a first-to-market approach of owning a mix of stocks and other securities, as well as futures linked to commodities including (but not limited to), agriculture, energy, precious metals and bitcoin.
"Investors are experiencing the negative impact inflation can have on their wallets and portfolios," said Christian Magoon, CEO of Amplify ETFs. "We believe IWIN provides investors with a dynamic, convenient and diverse approach to combat inflation's impact on broad-based portfolios."
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Source: Amplify ETFs
World's first DeFi exchange traded fund to launch in Brazil next month
January 31, 2022--Fund will invest in tokens generated by decentralised apps rather than crypto or listed companies
The world's first exchange traded fund dedicated to decentralised finance networks is due to launch in Brazil next month, deepening the $10tn ETF industry's foray into virtual assets.
The move will allow investors to track a basket of projects betting on decentralised finance, trading and lending networks whose standards are automated and often decided by consensus.
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Source: ft.com
JPMorgan to start converting $9bn in mutual funds to ETFs in April
January 26, 2022--The four funds bled a combined $2bn during the 12 months ended November 30
JPMorgan will in April begin converting $9.1bn in mutual funds to ETFs, the company has disclosed.
The $1.3bn Inflation Managed Bond Fund is expected to convert on April 8 into the Inflation Managed Bond ETF, filings show. The $1.2bn Market Expansion Enhanced Index Fund will switch over on May 6 into the Market Expansion Enhanced Equity ETF, and the $1.8bn Realty Income Fund will convert on May 20 into the Realty Income ETF.
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January 26, 2022--The four funds bled a combined $2bn during the 12 months ended November 30
Source: ft.com
Deloitte Report: Inaction on Climate Change Could Cost the US Economy $14.5 Trillion by 2070
January 25, 2022--The U.S. economy could gain $3 trillion over the next 50 years if it accelerates towards a path of low-emissions growth
A new report released today from the Deloitte Economics Institute shows that the United States economy could gain $3 trillion if it rapidly decarbonizes over the next 50 years. This once-in-a-generation transformation could add nearly 1 million more jobs to the US economy by 2070, according to the report,"The Turning Point: A new economic climate in the United States.".
"The Deloitte Economics Institute Turning Point report makes the case for another industrial revolution in the U.S.-one built on low-emissions growth-to avoid significant losses from the climate crisis and to create a more dynamic, prosperous economy for the U.S.," said Alicia Rose, Deputy CEO for Deloitte US. "The analysis shows that the battle to slow climate change is not only an aspirational goal, but an economic imperative for the U.S."
If global warming reaches around 3°C toward the century's end, Deloitte's analysis indicates that economic damages would grow and compound, affecting every industry and region in the country.
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Source: Deloitte
