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U.S. Weekly FundFlows Insight Report: Equity Funds Pace Net Inflows for the Week
August 4, 208--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) had net inflows of $403 million for the fund-flows week ended Wednesday, August 1.
Equity funds (+$2.1 billion) accounted for the lion's share of the net-positive flows, while money market funds contributed $344 million to the total. Fixed income funds did not fare as well; both taxable bond funds (-$1.6 billion) and municipal bond funds (-$368 million) both saw net money leave their coffers.
Market Overview
Both the S&P 500 Index (-1.15%) and the Dow Jones Industrial Average (-0.32%) retreated for the fund-flows trading week. There was a plethora of economic news for investors to digest during the week, including (1) influential quarterly earnings releases from several of the FAANG stocks, (2) gross domestic product growth of 4.1% for Q2 2018, and (3) the Federal Reserve leaving interest rates unchanged at its mid-week policy meeting. The most impactful of the tech company earnings announcements came from Facebook.
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Source: Thomson Reuters
CFTC.gov Commitments of Traders Reports Update
August 3, 2018--The current reports for the week of August 3, 2018 are now available.
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Source: CFTC.gov
Cboe Global Markets Publishes New Family of Target Outcome Indexes
August 3, 2018--Cboe expands suite of products tied to S&P Dow Jones Indices with new Target Outcome Indexes
designed to track 16 options-based investment strategies
Indexes have been licensed to Innovator Capital Management
Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange
holding companies, today announced it has rolled out four series of Cboe S&P 500 Target Outcome Indexes, comprising a family of 16 options-based strategy performance benchmarks designed to target the outcomes of specific investment strategies, and has licensed the indexes to Innovator Capital Management.
The Cboe S&P 500 Target Outcome Indexes were designed in collaboration with S&P Dow Jones Indices and Milliman Financial Risk Management LLC. The new indexes measure the performance of a hypothetical portfolio of S&P 500(R) FLexible EXchange(R) (FLEX®) options (SPXSM) designed to provide defined exposures to the S&P 500 Index where the downside protection levels, upside growth potential and outcome period are all pre-determined.
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Source: Cboe Global Markets, Inc.
Innovator looks to start a new ETF revolution: Set to list first S&P 500 ETFs that protect against losses of 10%, 15%, or 30%
August 3, 2018--ETFs provide exposure to the S&P 500 with downside protection levels of 10%, 15%, or 30% over an Outcome Period of approximately one year.
Innovator sets sights on the multitrillion dollar structured products and insurance industries by providing simple, transparent, low cost access to defined outcomes.
Innovator Capital Management, LLC (Innovator) today announced the anticipated listing of the Innovator S&P 500 Defined Outcome ETFs-July Series on Cboe on August 8, 2018. The Innovator Defined Outcome ETFs will seek to offer investors exposure to the S&P 500 Price Return Index (S&P 500) to a Cap, with downside protection levels (or "buffers") of 10%, 15%, or 30% over an Outcome Period of approximately one year, at which point each ETF will reset.
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Source: nasdaq.com
More Leveraged FANG ETNs Are Here
August 3, 2018--For traders that need some more juice with the FANG stocks and other big-name Internet and technology stocks, some new leveraged exchange-traded notes are designed to provide just that.
On Thursday, Rex Shares introduced MicroSectors FANG+ Index 2X Leveraged ETNs FNGO, MicroSectors FANG+ Index -2X Inverse Leveraged ETNs FNGZ, and MicroSectors FANG+ Index Inverse ETNs GNAF.
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Source: marketwatch.com
IMF Staff Country Reports-Brazil: 2018 Article IV Consultation
August 3, 2018--Summary:
Recent developments. Following a severe recession in 2015-16, real GDP grew by 1 percent in 2017. Inflation declined below the inflation target range, prompting the Central Bank to cut interest rates to historic lows. Despite fiscal consolidation in 2017, public debt has reached 84 percent of GDP and fiscal reforms have stalled.
Outlook. GDP is projected to grow at 1.8 and 2.5 percent in 2018 and 2019, respectively, driven by a recovery in domestic consumption and investment. The 2018 budget loosens the fiscal stance. Even if federal expenditure remains constant in real terms at its 2016 level, as mandated by a constitutional rule, public debt is expected to rise further and peak in 2023 at above 90 percent of GDP.
IMF Staff Country Reports-Brazil: 2018 Article IV Consultation
Source: IMF
Cboe Global Markets to List Its Common Stock Exclusively on Cboe
August 2, 2018--Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced plans to transfer the primary listing of its common stock to Cboe BZX Equities Exchange (Cboe).
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Source: New York Times
Research Affiliates-Rebalance or Rush Hour?
August 2, 2018--Key Points
Systematic rebalancing raises the likelihood of improving long-term risk-adjusted investment returns.
The benefits of rebalancing result from opportunistically capitalizing on human behavioral tendencies and long-horizon mean reversion in asset class prices.
Investors who "institutionalize contrarian investment behavior" by relying on a systematic rebalancing approach increase their odds of reaping the reward of rebalancing.
Introduction
Embracing a disciplined approach to rebalancing can lead to better long-term investment outcomes. Overcoming the natural tendency to wait-and-see before repositioning our portfolios can be a difficult, but worthy, goal for investors to pursue. Advisors can help investors surmount this and other behavioral hurdles by adopting a systematic rebalancing approach that effectively institutionalizes contrarian investment behavior.
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Source: Research Affiliates
BNY Mellon Consultant 360-The Race for Assets: Issue 4
August 2, 2018--The use of hedge fund dedicated managed accounts continues to rise as investors seek to reduce fees, improve transparency, and gain control over their portfolios.
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Source: BNY Mellon
Fidelity Eliminates Fees on Two New Index Funds
August 2, 2018--Fidelity Investments announced that it won't charge any management fees on the new funds as price competition intensifies.
The race to zero in the investing world has finally reached bottom at one of the nation's biggest money managers.
Starting Friday, Fidelity Investments will offer clients the chance to invest in two new stock-index funds without paying any fees, putting new pressure on low-cost rivals such as Vanguard Group and Charles Schwab Corp.
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Source: Wall Street Journal
