Americas ETP News
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Vanguard Steals BlackRock Crown for World's Biggest Bond ETF
August 9, 2022--BND surpasses AGG in assets as the latter sheds cash
AGG's expense ratio was cut in April to match BND's fee
Vanguard Group has ushered in a new world order in the fixed-income exchange-traded fund arena.
The Vanguard Total Bond Market ETF (ticker BND), with assets of roughly $83.8 billion, has surpassed the $83.2 billion iShares Core US Aggregate Bond ETF (AGG) to become the world's biggest bond ETF, Bloomberg data show.
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Source: bloomberg.com
J.P. Morgan Asset Management Launches JPMorgan Active Growth ETF (JGRO)
August 9, 2022--Unifies two industry-leading growth strategies into one actively managed ETF
J.P. Morgan Asset Management (JPMAM) today announced the launch of JPMorgan Active Growth ETF (JGRO), an actively managed style pure growth ETF that seeks to outperform the Russell 1000 Growth Index.
The strategy follows a bottom-up approach and aims to identify companies with growth potential that is underappreciated by the market.
Priced at an expense ratio of 0.44%, JGRO leverages the breadth and depth of the entire J.P. Morgan Growth Platform and leverages two flagship strategies on the platform, JPMorgan Large Cap Growth, a style pure approach which utilizes price momentum, and JPMorgan Growth Advantage, which is anchored in large cap but has flexibility to invest down cap. Blending these two fundamental approaches with unique characteristics results in one ETF solution that seeks opportunities across the growth landscape.
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Source: J.P. Morgan Asset Management
U.S. First: First Leveraged Single-Stock ETFs On: Tesla, Coinbase & Apple
August 9, 2022--Short ETF Exposure to Tesla
Investors Get Access to New Short & Leveraged Single-Stock ETFs
GraniteShares, the U.S. ETF issuer, has listed a suite of short and leveraged single stock Exchange Traded Funds (ETFs) listed on the NASDAQ Stock Exchange.
This new category reflects the evolution of the ETF market from broad index solutions to the ability today to take targeted positions on individual stocks. Globally, the broad short and leveraged ETP segment has attracted significant investor inflows, growing from $2.4bn in assets under management in 2006 to US$111.9bn at the end of May 2022 (Source, EFTGI).
GraniteShares' new suite of short and leveraged single stock ETFs, enables sophisticated investors to take high conviction positions on some of the most popular U.S stocks: Tesla, Coinbase & Apple.
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Source: GraniteShares
U.S. SEC to propose new rule boosting hedge, private fund leverage disclosures-source
August 9, 2022--The U.S. Securities and Exchange Commission (SEC) will propose a new rule on Wednesday aimed at boosting hedge and private fund leverage disclosures, among other details, according to a source familiar with the agency's thinking.
The proposal by the Wall Street regulator would require funds to provide more information on leverage as part of their confidential "Form-PF" disclosures, the person said, adding that the measure would also apply to fund advisers who operate as commodity investors and traders under Commodity Futures Trading Commission rules, the person said.
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Source: reuters.com
Half of Gen Z see no point in saving until things get back to "normal"-here's what they're doing with their money instead
August 9, 2022--Some Gen Zers are abandoning financial caution to invest in themselves and experiences instead.
For 18-year-old Anousha Ahmed, based in Virginia, earning income at her first job meant having more freedom.
"My focus wasn't really saving. It was more like, now I have all this discretionary income. I can do whatever I want," Ahmed says.
She briefly worked at a swim school for children earlier this year, and explains that she was able to use her money on experiences such as concerts, traveling, eating at restaurants and going roller skating.
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Source: moneywise.com
BlackRock Opening South Florida 'Snowbird' Office for Dozens of Employees
August 8, 2022--Head of fixed income and about 35 staff are expected to start working at West Palm Beach location early next year
BlackRock Inc., the world's largest money management company, is opening a satellite office in South Florida to accommodate a top executive and dozens of other employees, joining a migration of financial firms to the state.
Rick Rieder, who as BlackRock's head of fixed income oversees roughly $1.7 trillion in assets, or about 20% of the firm's total assets, owns a home in Palm Beach County and is expected to work out of the new West Palm Beach office space when he is in Florida, according to people familiar with the matter. About 35 other BlackRock employees are expected to start working there early next year, according to BlackRock.
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Source: wsj.com
First single-bond ETFs look set to revolutionise access to Treasuries
August 8, 2022--The first single-bond exchange traded funds in the world are set to list on the Nasdaq exchange on Tuesday, in a move that could revolutionise how some traders access US Treasuries.
The launches follow hot on the heels of the first single-stock ETFs in the US and illustrate a growing trend for vehicles to target ever more specific exposures, eschewing the diversification at the heart of the traditional fund structure.
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Source: ft.com
Logan Capital Launches Large Cap Growth ETF (NYSE: LCLG)
August 8, 2022--The large cap fund offers investors exposure to companies with widespread innovation
Logan Capital, an independent, privately owned Registered Investment Advisor, has launched its first exchange-traded fund (ETF), the Logan Capital Broad Innovative Growth ETF (NYSE: LCLG).
The ETF employs a multifactor ranking algorithm to analyze and select securities. It seeks companies applying innovative technologies and ideas to common business models to gain a competitive advantage. Logan looks for companies that have increasing earnings tied to pricing power, benefit from an economic tailwind, and that are trading in a way that would support a long-term upward move in price.
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Source: Logan Capital
CBO-Monthly Budget Review: July 2022
August 8, 2022--Summary
The federal budget deficit was $727 billion in the first 10 months of fiscal year 2022 (that is, from October 2021 through July 2022), the Congressional Budget Office estimates-$1.8 trillion less than it was at the same point last year.
Revenues were $789 billion (or 24 percent) higher and outlays were $1.0 trillion (or 17 percent) lower than they were during the same period a year ago. In particular, spending related to the coronavirus pandemic declined for the recovery rebates (also known as economic impact payments), unemployment compensation, pandemic relief through the Small Business Administration (SBA), and the Coronavirus Relief Fund.
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Source: CBO (Congressional Budget Office)
BlackRock to Offer Crypto for Institutional Investors Through Coinbase Prime
August 4, 2022--The asset management giant and the crypto exchange have partnered to broaden access to crypto among institutional investors.
BlackRock, the world's biggest asset manager, has formed a partnership with publicly traded crypto exchange Coinbase (COIN) to make crypto directly available to institutional investors.
Mutual customers of Coinbase and BlackRock's investment management platform, Aladdin, will have access to crypto trading, custody, prime brokerage and reporting capabilities, according to a blog post Thursday.
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Source: coindesk.com
