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JPMorgan's development finance arm structures first deal
July 28, 2020--JPMorgan's development finance institution has structured its first deal, a $250 million five-year green bond for a power firm in Georgia, as it targets $100 billion for development projects annually, executives say.
The deal for Georgia Global Utilities, to be settled on Thursday, is the first where that arm of the bank has been named development finance structuring agent.
Adding developmental finance and green funding to the deal, meaning capital is raised to support economic development and environmental projects, helped entice a broader range of investors, said Stefan Weiler, head of Central and Eastern Europe, Middle East and Africa debt capital markets at JPMorgan.
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Source: finance.yahoo.com
State Street Global Advisors Launches S&P 500 ESG ETF
July 28, 2020--Newest SPDR ETF Offers Investors An ESG Alternative for Flagship Equity Benchmark
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of the SPDR(R) S&P 500 ESG ETF (EFIV).
Providing investors an opportunity to tap into ESG investing at the core of their portfolio with an expense ratio of just 10 basis points, EFIV enhances both SPDR's ESG and S&P 500 ETF offerings, seeking to help investors incorporate ESG while achieving a risk and return profile comparable to the S&P 500.
EFIV seeks to track the S&P 500 ESG Index (the "Index"), which is designed to measure the performance of securities meeting certain sustainability criteria (i.e., criteria related to environmental, social and governance factors), while maintaining a similar overall industry group weight as the S&P 500 Index.
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Source: State Street Global Advisors
CIBC Asset Management launches two global equity ETFs
July 27, 2020--Today CIBC Asset Management Inc. launched CIBC Global Growth ETF and CIBC International Equity ETF, two new actively-managed exchange-traded funds (ETFs) that provide investors with global diversification to equity securities.
"Diversification across global markets is essential for investors' portfolios and we are pleased to offer active ETF solutions to meet these needs," says David Scandiffio, President and CEO, CIBC Asset Management.
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Source: crweworld.com
Nationwide Risk-Managed Income ETF breaks the $100 million threshold
July 27, 2020--At a time when interest rates are pervasively near historic lows and income investors are concerned about heightened market uncertainty, the Nationwide Risk-Managed Income ETF has surpassed the $100 million mark of assets under management by serving the needs of investors seeking income with a measure of downside protection since its inception on Dec. 19, 2019.
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Source: Nationwide
Why Growth in the Fed's Asset Portfolio Has Paused
July 26, 2020--That doesn't mean the central bank has dialed back its support for markets or the economy.
The Fed's holdings of bonds, loans and other assets reached $7 trillion in June, up from $4.2 trillion in February, reflecting multiple financial-assistance programs launched in response to the coronavirus pandemic.
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Source: wsj.com
Zero-fee ETFs fail to capture investor interest
July 26, 2020--Slow progress of recently launched vehicles contrasts with $9bn raised by Fidelity's tracker funds
Innovative tracker funds that were launched to great fanfare because of their negative or non-existent fees have failed to gather significant assets, underlining the challenges facing new entrants to the cut-throat passive investment market.
The ferocious price war among index fund managers has prompted some providers to cut fees to zero in a bid to draw investor interest. An exchange traded fund launched last year went one step further by becoming the first fund to apply a negative fee, meaning that investors were effectively paid to invest.
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FT.com
Everyone's a Day Trader Now
July 25, 2020--Bored, isolated and out of work amid the pandemic, millions of Americans are chasing stock-market glory-and bragging about it online. Not everyone's a winner though.
Stuck at home in lockdown, millions of Americans are trading the markets like never before.
At E*Trade Financial Corp., investors opened roughly 260,500 retail accounts just in March, more than any full year on record. Newer rival Robinhood Markets Inc., maker of a wildly popular trading app, logged a record three million new accounts in the first quarter.
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Source: wsj.com
Passive funds batter active products during 2020 'wild ride'
July 25, 2020--Active managers including Invesco and Franklin Templeton dominate list of worst-selling investment houses.
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Source: FT.com
BMO expands currency options for quality-investing ETF
July 24, 2020--New series of high-quality index ETF opens more choice to investors
BMO Asset Management has introduced two new series for its BMO MSCI USA High Quality Index ETF.
"This is a natural extension to our ETF lineup, as we have seen an increase in interest around the quality factor and its performance in the current market environment," said Mark Raes, head of Product, BMO Global Asset Management Canada.
"These new series will complement our shelf and provide investors with greater choice in terms of currency."
The two latest series, both now listed on the TSX, are:
BMO MSCI USA High Quality Index ETF (Hedged Units)
BMO MSCI USA High Quality Index ETF (USD Units)
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Source: wealthprofessional.ca
Global Beta ETFs Teams with Impact Partners and S&P Dow Jones Indices to Launch Two Factor Based ETFs
July 24, 2020--Global Beta ETFs announced today expanding its factor based suite of ETFs listing the Global Beta Low Beta ETF (Ticker: GBLO), and the Global Beta Momentum Growth ETF (Ticker: GBGR) on the NYSE Arca. Both ETFs list with an annual net expense ratio of 29 basis points.
"We're excited to introduce two new strategies today that help investors gain targeted factor exposure at a more attractive valuation relative to their peer group," said Vince Lowry, CEO of Global Beta ETFs. “At this point in the equity cycle, we believe the easy money has been made, and that valuations of traditional broad-base, capitalization-weighted index funds have become significantly stretched relative to their historic averages. Our research indicates that, across all relevant factors in the market, improving the price-to-sales ratio within a portfolio can significantly improve returns, and can provide investors an additional level of downside risk mitigation. Given the current market environment today, we believe valuation is more important than ever."
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Source: Global Beta Advisors
