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Active managers fail to beat the market again
September 22, 2020--Two-thirds of US equity funds underperformed benchmarks over last 12 months, report shows
Most active fund managers in the US failed to beat the market over the past year, according to another dispiriting report on an industry that often claims it will come into its own during periods of volatility.
In a majority of the categories of US equity funds, the average active manager underperformed the benchmark index, according to the latest semi-annual report on fund manager performance from S&P Global.
The new bourse went live trading seven symbols, including Alphabet Inc, BlackBerry Ltd, and Exxon Mobil Corp, and plans to begin trading all U.S. stocks on Sept. 29. view more CBO-The 2020 Long-Term Budget Outlook
Even after the effects of the 2020 coronavirus pandemic fade, deficits in coming decades are projected to be large by historical standards. In CBO's projections, deficits increase from 5 percent of gross domestic product (GDP) in 2030 to 13 percent by 2050-larger in every year than the average deficit of 3 percent of GDP over the past 50 years.
view filing CBO's Projection of the Effect of Climate Change on U.S. Economic Output: Working Paper 2020-06
That annual growth differential accumulates to a 1.0 percent reduction in the projected level of real GDP in 2050. Of that 1.0 percent reduction, one-third reflects a continuation of the effect of climate change on real GDP growth in recent years, and two-thirds reflects expected increases in that effect in the future. view more S&P Index Manager Charged With $900,000 Insider-Trading Scheme view more Global X ETFs Adds to Covered Call Suite with Funds Designed to Balance Income and Growth view more Hundreds of US companies fight new rules on hedge fund disclosure view more Leveraged ETP popularity brings gambling risk, experts warn view more Fed Hires BlackRock to Help Calm Markets. Its ETF Business Wins Big The Fed had never bought ETFs or corporate bonds before. The central bank tapped BlackRock to help advise it and buy the bonds and funds on its behalf, though the central bank retained ultimate authority over what to purchase. view more Cabana Asset Management Introduces New Suite of Target Drawdown ETFs with More Than $1 Billion in Initial Assets view more
Source: reuters.com
September 21, 2020--Summary: Each year, the Congressional Budget Office publishes a report presenting its projections of what federal deficits, debt, spending, and revenues would be for the next 30 years if current laws governing taxes and spending generally did not change. This report is the latest in the series.
Deficits.
Source: cbo.gov
September 21, 2020--This paper describes how CBO constructed its projection of the effect of climate change on U.S. output, how the projected effect should be interpreted, limitations of the analysis, and the central climate-change scenario that CBO used.
Summary
As part of its long-term economic forecast, the Congressional Budget Office projects the effect of climate change on the growth of U.S. real gross domestic product (GDP).
CBO projects that climate change will, on net, reduce average annual real GDP growth by 0.03 percentage points from 2020 to 2050, relative to growth that would occur under the climatic conditions that prevailed at the end of the 20th century.
Source: cbo.gov
September 21, 2020--He's accused of trading ahead of firms being added to index
SEC complaint also names Queens sushi restaurant manager
An index manager of S&P Global Inc. was charged on Tuesday with being part of an insider-trading scheme that netted more than $900,000 in illegal profits by trading hours ahead of public announcements that companies would be added or removed from a popular stock market index.
Source: bloomberg.com
September 21, 2020--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) and the Global X S&P 500 Covered Call & Growth ETF (XYLG).
Investors face a historically low-yielding market amidst the backdrop of rock-bottom interest rates and tight credit spreads.
At the same time, equity markets have offered investors robust growth since their March 2020 lows and continue to test new all-time highs. QYLG and XYLG are designed to balance upside participation in major US equity indexes with generating additional income potential through covered call writing.
Source: Global X
September 21, 2020--Hundreds of US-listed companies, including Coca-Cola, Procter & Gamble and Ford, have come out against a proposal from the securities regulator that would shield the vast majority of hedge funds from disclosing their stock market holdings.
A total of 381 companies on Monday signed a letter, organised by the New York Stock Exchange, saying the Securities and Exchange Commission proposal would deal a "debilitating blow" to investor relations.
Source: technocodex.com
September 20, 2020--A surge of interest in leveraged and inverse exchange traded products could be luring inexperienced investors into gambling with all its attendant risks, experts warn.
Globally, leveraged and inverse ETPs saw net inflows of $20.6bn in the seven months to the end of July, according to data from ETFGI, a consultancy, compared to net outflows of $3.4bn in the same period last year and $4.1bn during the whole of 2019. This took their assets to a record $89.7bn.
Source: technocodex.com
September 18, 2020--The central bank's market intervention helped the largest U.S. provider of corporate bond exchange-traded funds get large
The Federal Reserve's March commitment to deploy billions of dollars to prop up the economy was a boon for the company the Fed hired to help execute its plan: BlackRock Inc., the world's largest asset manager.
In response to the pandemic-induced market collapse, the Fed promised to buy corporate bonds and exchange-traded funds that invest in collections of corporate debt.
Source: wsj.com
September 17, 2020--Launch provides a broader swath of investors with access to firm's unique defined-risk investment approach
Cabana Asset Management ("Cabana"), a wholly owned subsidiary of The Cabana Group, LLC and an SEC registered investment adviser providing risk-managed investment products to investors, advisors and institutions, today announced the continued expansion of its client-focused investment lineup with the launch of its new suite of Target Drawdown ETFs, in partnership with private label ETF advisor Exchange Traded Concepts (ETC).
Building on the proven track record of Cabana's Target Drawdown Professional Series of separately managed accounts (SMAs), which are available exclusively through the firm's financial professionals and RIA partners, the new family of Target Drawdown ETFs is built with the goal of maintaining and growing investor wealth over the long term by clearly defining risk in terms of the maximum expected percentage loss ("target drawdown"). There are five strategies in the initial suite of ETFs with target drawdown percentages ranging from 5% to 16%.
Source: Cabana Group
