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M&A Activity Heats up for Independent Broker-Dealers, According to Fidelity(R)
September 21, 2017--Fidelity(R) M&A Report Shows $136 Billion Changes Hands Year-to-Date as IBDs Move to Mitigate Thinning Margins and Increase Advisor Productivity
New Report Looks at How Fewer, but Bigger M&A Transactions are Altering the IBD Channel
Fidelity Clearing & Custody Solutions, the division of Fidelity Investments that provides clearing and custody to broker-dealer firms, registered investment advisors (RIAs), family offices, retirement recordkeepers and banks, today released the latest report in its Fidelity Wealth Management M&A Series, Insights from Independent Broker-Dealers (IBDs), which found that year-to-date, $136 billion in assets changed hands among IBDs as a result of five deals. This compares to the $80 billion spread across 82 deals among RIAs during the same time period. The report looks at how fewer, but bigger M&A transactions are altering the future of the IBD channel.
view the Fidelity Wealth Management M&A Series, Insights from Independent Broker-Dealers (IBDs), September 2017
Source: Fidelity Investments
AdvisorShares Active ETF Report: The Summer Surge
September 20, 2017--Month ending 08.31.2017
Assets in actively managed ETFs increased by $1.44 billion, or 3.7%, to $39.47 billion. Several comings and goings occurred within the space including Tuttle exiting the field and new addition Fieldstone joining the ranks. The overall actively managed ETF count stood at 184 through month-end.
ETF industry-wide, also accounting for passive, domestic equity represented the largest category gainer but among the interesting data points during August included inverse funds seeing their assets increase by 12% and the asset allocation niche realizing a 10% gain. Despite both categories driven primarily by passive strategies, such ETFs are increasingly used as part of active investment strategies by advisors or by individual investors.
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Source: AdvisorShares
Solactive is the index provider for first-of-their-kind ETFs in Canada launched by Evolve Funds
September 20, 2017--Created around gender equality and cyber security investment themes
Solactive is excited to announce that the Solactive Equileap North American Gender Equality Index Canadian Dollar Hedged and the Solactive Global Cyber Security Index Canadian Dollar Hedged are the reference indices for two newly launched ETFs, namely
the Evolve North American Gender Diversity Index ETF (HERS) and the Evolve Cyber Security Index ETF (CYBER), which will begin to trade today on the Toronto Stock Exchange (TSX).
HERS and CYBER are the first ETFs in Canada to target gender equality
and cyber security as investment themes.
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Source: Solactive AG
Federal Reserve issues FOMC statement
September 20, 2017-Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year.
Job gains have remained solid in recent months, and the unemployment rate has stayed low. Household spending has been expanding at a moderate rate, and growth in business fixed investment has picked up in recent quarters. On a 12-month basis, overall inflation and the measure excluding food and energy prices have declined this year and are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
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Source: federalreserve.gov
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 19-20 FOMC meeting
September 20, 2017--The table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the September 19-20 meeting.
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Source: federalreserve.gov
CFTC.gov Swaps Report Update
September 20, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
State Street Combines Quantitative Power of Machine Learning with Human Expertise to Launch Quantextual Idea LabSM
September 20, 2017--Research Management Solution Delivers Accelerated Insights, Allows Investors to Review Research Consumption, Helps Optimize Research Spend
nvestment professionals today are inundated with research reports from the sell side, the buy side and academia. Top financial research teams can produce enough content to consume 24 reams or 12,000 sheets of paper per day1. To help address this information overload, State Street (NYSE:STT) has launched Quantextual Idea LabSM, which combines the power of machine learning with the knowledge of human experts in order to help investment professionals efficiently read and interpret lengthy research reports, and apply relevant findings to their investment strategies.
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Source: State Street Corporation
Evolve North American Gender Diversity Index ETF (TSX: HERS) and Evolve Cyber Security Index ETF (TSX: CYBR) Begin Trading on the TSX
September 20, 2017--Evolve Funds Group Inc. ("Evolve Funds") is pleased to announce the launch of the following first-of-its-kind ETFs in Canada ("Evolve ETFs"):
Canada's first Gender Diversity ETF
The Evolve North American Gender Diversity Index ETF ("HERS"); and
Canada's first Cyber Security ETF The Evolve Cyber Security Index ETF ("CYBR")
The Evolve ETFs have closed their initial offering of hedged and unhedged units and will begin trading on the Toronto Stock Exchange ("TSX") today under the following ticker symbols:
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Source: Evolve Funds Group Inc.
Global X Funds' Robotics and Artificial Intelligence ETF (BOTZ) Crosses $450 Million at One-Year Anniversary
September 19, 2017--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today celebrated the one-year anniversary of the launch of the Global X Robotics and Artificial Intelligence ETF (BOTZ).
BOTZ has received considerable interest from investors in its first year, having surpassed $450m in assets under management.1 BOTZ launched on September 12, 2016 and tracks the Indxx Global Robotics & Artificial Intelligence Thematic Index.
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Source: Global X
IMF Working paper-Policy Mix and the US Trade Balance
September 19, 2017--Summary:
The strong US policy response to the 2008-09 financial crisis raised concerns about its impact (spillovers) on other countries, with great focus on the monetary stimulus but little attention to fiscal policy, despite their combined deployment. Using a sign-restricted structural VAR approach, we study the trade spillovers of the post-crisis policy mix, by assessing the joint impact of monetary and fiscal policy.
We find that aggregate trade effects, as reflected in the trade balance, varied across time, reflecting the different timing of fiscal and monetary stimuli, with overall positive spillovers in the immediate aftermath of the crisis. At the same time, reflecting the different transmission mechanisms of monetary policy, we find that the effects differed greatly between trading partners with fixed and flexible exchange rates. In general, our results highlight (i) the importance of studying fiscal and monetary policy spillovers jointly in order to avoid attenuation bias from omitted variables; and (ii) that trading partners' exchange rate regimes are of first order importance in determining the impact of policy spillovers.
view the IMF Working paper-Policy Mix and the US Trade Balance
Source: IMF
