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CME and Cboe Stock Respond to Media Report of Deal Talks
August 18, 2021--Exchange operator CME denies report that it made acquisition offer; Cboe shares jump 12% but finish the day lower.
Shares of exchange operators CME Group Inc. and Cboe Global Markets Inc. swung Wednesday following a media report that the two Chicago-based companies were discussing a merger.
CME immediately denied the report.
The Financial Times reported that CME had approached Cboe with a $16 billion acquisition offer.
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Source: wsj.com
Defensive ETF flows hint at 'bullish but worried' sentiment on Wall St
August 17, 2021--Billions of dollars have been pouring into "defensive" exchange-traded funds in recent weeks, underscoring the nervousness that has arisen in some corners of Wall Street after US stocks hit a series of record highs.
The resurgence of coronavirus infections in some U.S. states, evidence of mounting inflationary pressures, and fears that the Federal Reserve will soon start scaling back its massive asset purchase program have already prompted some investors to take a more cautious stance.
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Source: ft.com
BlackRock calls for investors to lift allocations to China's markets
August 17, 2021-- BlackRock's research unit has said China should no longer be considered an emerging market and recommended investors boost their exposure to the country by as much as three times.
The New York-based investment house's internal think-tank suggested the higher allocations to Chinese stocks and debt as the country's capital markets have boomed in size and sophistication.
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Source: ft.com
CI Global Asset Management Licenses Solactive Indices to Release Four Core ETFs
August 17, 2021--ETFs are increasingly becoming the incumbent in the global passive investment industry. In June 2021, global assets under management in index-tracking ETFs hit their new record of USD 8.66tn, which is merely USD 132bn short of assets in passive mutual funds.
Building on the success of ETFs, CI Global Asset Management, a subsidiary of Toronto-based CI Financial Corp. (TSX: CIX, NYSE: CIXX), has licensed four Solactive indices to provide its clients three plain vanilla benchmark ETFs, including a broad Canada ETF, and two ETFs tracking the largest 500 and 1000 US companies, respectively. Furthermore, to allow investors to participate in the performance of global healthcare companies, CI Global Asset Management released an ETF tracking the leaders in global healthcare innovation.
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Source: Solactive AG
VanEck Announces New Branding for Its Exchange Traded Fund Family
August 17, 2021--VanEck today announced new branding for its U.S.-listed Exchange Traded Funds (ETFs). On or about September 1, 2021, the word "Vectors" is being retired from use in both the branding for the VanEck ETF Trust and the vast majority of VanEck ETFs.
"Since we launched our first ETFs in 2006, then under the Market Vectors brand, our focus has always been on delivering the most impactful strategies for investors" said Jan van Eck, CEO of VanEck. "Bringing our strategies under a single VanEck brand reflects how each one is a culmination of the collective experience and perspectives of our global team.
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Source: VanEck
The age of the ETF is looming
August 16, 2021--Exchange traded funds are much more than just passive index-trackers.
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Source: ft.com
Vanguard calls for fund fee transparency
August 15, 2021--Investment funds should publish easy-to-compare fee figures in the same way food labels carry nutritional values to make clear to the public when costs are 'hazardous', according to Vanguard.
Sean Hagerty...
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Source: ft.com
U.S. Economy Likely to Outgrow China's Due to Contrast in Pandemic Responses
August 15, 2021--A faster short-term U.S. expansion would delay the day when China's economy overtakes America's in size
The U.S. and China are trading places in the economic growth race.
U.S. gross domestic product rose 12.2% in the second quarter of this year from a year earlier, outpacing China's 7.9% gain.
The American edge should continue for at least the next few quarters, many economists say. That would be the first sustained period since at least 1990 in which the U.S. economy grew faster than China's.
In the short term, the reversal reflects the difference in the two nations' responses to the Covid-19 pandemic.
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Source: wsj.com
Hartford Funds Enters ESG ETF Market
August 11, 2021--Hartford Schroders ESG US Equity ETF will invest in a diversified portfolio of US equities and investments that meet certain environmental, social, and governance criteria.
Hartford Funds today announced the launch of its first ESG-focused exchange-traded fund ("ETF"), Hartford Schroders ESG US Equity ETF (CBOE: HEET), which will be sub-advised by Schroder Investment Management North America Inc. and Schroder Investment Management North America Ltd.
HEET seeks long-term capital appreciation by investing in a diversified portfolio of equities and equity-related securities of U.S. companies and in investments that are expected to meet environmental, social, and/or governance criteria ("ESG"), as identified by the Fund’s sub-advisers. The Fund will seek to achieve a better ESG profile compared to its benchmark, the Russell 1000 Index.
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Source: Hartford Funds
Fed officials grapple over timeline for tapering asset purchases
August 11, 2021--The U.S. economy is growing at a robust pace and the labor market is rebounding, signaling it is nearly time for the Federal Reserve to start withdrawing its support, several U.S. central bank officials said on Wednesday.
Policymakers are in the process of discussing how and when they should begin to trim the massive asset purchases launched by the Fed last year to stabilize financial markets and support the economy through the coronavirus pandemic, and there are a range of views.
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Source: reuters.com
