Americas ETP News
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Investors pump record sums into bond and 'quality' stock ETFs
January 15, 2024--Global inflows of $965bn last year was the second highest tally on record
Exchange traded fund investors pumped record sums into fixed income and "quality" stocks last year as risk appetite jumped in the final months of 2023.
However inflation-linked bond funds and broad commodity ETFs experienced record outflows as sliding global inflation tempered investors' desire to hedge against its corrosive effect on asset prices.
Overall, the global ETF industry recorded net inflows of $965bn last year, according to data from BlackRock, up from $867bn in 2022. This was the second-highest figure on record, behind 2021's $1.3tn.
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Source: ft.com
BlackRock strikes $12.5 bln deal for Global Infrastructure Partners
January 12, 2024--BlackRock to pay $3 bln in cash and roughly 12 mln in shares
Cohen new chief product officer, GIP's Ogunlesi to join board
BlackRock had been on the hunt for big acquisition
Quarterly profit $9.66 per share vs forecast $8.84
BlackRock (BLK.N), opens new tab said on Friday it would buy Global Infrastructure Partners (GIP) for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management.
The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power, and digital infrastructure projects around the globe. Once the deal closes, the firm will hold approximately $150 billion in infrastructure assets across a portfolio that ranges from the U.S. liquefied natural gas export market to wastewater services in France to airports in England and Australia.
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Source: reuters.com
Invesco and Galaxy to Offer Efficient Exposure to Spot Bitcoin Through the Invesco Galaxy Bitcoin ETF (BTCO)
January 11, 2024--Fee waiver brings BTCO management fee to zero
Invesco Ltd., a leading global provider of exchange-traded funds (ETFs), in partnership with Galaxy Asset Management,1, one of the world's largest digital assets and blockchain investment managers, today announced the launch of the Invesco Galaxy Bitcoin ETF (BTCO).
BTCO invests directly in physical bitcoin to allow investors to access the performance of the market price of bitcoin, as measured by the Lukka Prime Bitcoin Reference Rate2 through an ETF structure to provide additional safeguards and ease of trading. BTCO begins trading on the Cboe BZX Exchange today, removing many of the barriers to bitcoin investing.
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Source: Invesco Ltd.
SEC probing fake post on its X account, bitcoin ETFs not yet approved
January 10, 2024--The U.S. securities regulator said someone briefly accessed its X social media account on Tuesday and posted a fake message saying it had approved exchange traded funds (ETF) for bitcoin, a move eagerly awaited by the crypto industry.
However, the Securities and Exchange Commission (SEC) said it has not yet approved spot bitcoin ETFs and its account on X, the platform formerly known as Twitter, had been compromised briefly by an unknown party after about 4 p.m. Eastern time (2100 GMT). The "unauthorized access has been terminated," the agency said.
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Source: reuters.com
SEC approves first spot bitcoin ETFs in boost to crypto advocates
January 10, 2023--Funds could start trading as soon as Thursday after months of anticipation and pushback
The US Securities' and Exchange Commission has approved the first spot bitcoin exchange traded funds in a watershed moment that cryptocurrency enthusiasts are betting will draw new retail and institutional investors into the market.
The top American securities regulator cleared 11 ETFs for trading, with sponsors ranging from established players such as Fidelity and Invesco to digitally focused newcomers including Grayscale and Ark Invest.
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Source: ft.com
CBO-Monthly Budget Review: December 2023
January 9, 2024---The federal budget deficit totaled $509 billion in the first quarter of fiscal year 2024, the Congressional Budget Office estimates. That amount is $87 billion more than the deficit recorded during the same period last fiscal year: Although revenues this year were $83 billion (or 8 percent) higher, outlays rose more-by $170 billion (or 12 percent).
Shifts in the timing of certain federal payments affected the budget both in fiscal year 2023 and in fiscal year 2024. Outlays in the first quarter of each year were reduced by shifts of certain payments that otherwise would have been due on October 1, which fell on a weekend. (Those payments were made in September 2022 and September 2023, respectively.)
Partially offsetting those reductions, some outlays that would have occurred on January 1, a holiday, were shifted into December of each year. If not for both sets of shifts, the deficit thus far would have been $553 billion, $94 billion more than the shortfall for the same period in fiscal year 2023.
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Source: CBO (Congressional Budget Office)
J.P. Morgan Asset Management to Transfer JPMorgan Active Bond ETF (JBND) to NYSE from NYSE Arca
January 8, 2024: J.P. Morgan Asset Management today announced its intent to transfer the exchange listing the JPMorgan Active Bond ETF (NYSE: JBND) to the New York Stock Exchange (NYSE) from NYSE Arca, effective January 30, 2024.
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Source: https://am.jpmorgan.com
Federated Hermes, Inc. launches Total Return Bond ETF
January 4, 2024--New active fixed-income product expands ETF offerings
Federated Hermes, Inc., a global leader in active, responsible investing, today announced the launch of the Federated Hermes Total Return Bond ETF. The new actively managed ETF benefits from Federated Hermes' 50 years of experience managing fixed-income securities, a veteran portfolio management team and the advantages of an ETF structure.
The Federated Hermes Total Return Bond ETF seeks to provide total return by investing in a broad mix of bond sectors that the portfolio management team believes will benefit from changes in economic and market conditions, a process similar to the core plus investment strategy of the Federated Hermes Total Return Bond Fund.
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Source: Federated Hermes, Inc.
Bitcoin ETFs Are Almost Here. The Fee War Is Already Heating Up.
January 3, 2023--The first Bitcoin BTCUSD exchange-traded funds could launch as soon as next week, but the fee wars between the likes of Fidelity Investments and Invesco have already begun.
Those companies for the first time are detailing in federal filings their planned fees for some of the most anticipated funds in history. The filings show that while the launch of ETFs could end up bolstering the coins, they aren't likely to be a bonanza for the companies offering them, at least in the near term.
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Source: barrons.com
Thematic fund investors miss two-thirds of potential returns, research shows
November 29, 2023--Buying high and selling low meant investors earned 2.4% a year while total returns were 7.3% a year
Investors in funds that follow a narrow theme have lost out on more than two-thirds of their potential total returns over the past five years due to buying high and selling low, research from Morningstar reveals.
Thematic funds that existed for the entire five-year period ending June 30 enjoyed annualised returns of 7.3 per cent, but the typical investor received only 2.4 per cent a year as many bought in after the bulk of returns had been made.
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Source: ft.com
