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Articles by Rachel Evans
Treasurys Set For Best Week In Two Months After Trump Whiplash
Treasuries are poised for their best week since early September after a volatile five days of trading dominated by Donald Trump’s victory in the presidential election. US bonds rallied again on Friday as investors trimmed the huge run-up in rates that greeted Trump’s win. Yields on 30-year bonds, which bore the brunt of Wednesday’s losses amid fear the incoming administration’s policies will boost inflation, retreated to 4.5% — taking a drop over the past five days to 7 basis points.
Treasuries Have Best Day Since March on Refunding, Fed Path
Treasuries enjoyed their best day in more than seven months on signs the Federal Reserve is close to done raising rates, and the US government may not sell as much debt as previously expected. The benchmark 10-year note rallied, with yields falling almost 20 basis points on the day, the most since March, data compiled by Bloomberg show. Rates on 5- and 7-year Treasuries slumped more than 20 basis points from a day earlier.
Warren Buffett Is Buying Treasurys Regardless Of Downgrade By Fitch
It’s business-as-usual for Warren Buffett’s Berkshire Hathaway after Fitch Ratings’ downgrade of the US. “Berkshire bought $10 billion in US Treasuries last Monday. We bought $10 billion in Treasuries this Monday. And the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month” T-bills, Buffett said on CNBC. “There are some things people shouldn’t worry about,” he said.
ETFs That Hide Their Portfolios Get Go-Ahead From U.S. Regulator | Newsmax.com
Four new types of exchange-traded funds that allow money managers to hide their holdings have been approved by U.S. regulators. T. Rowe Price, Fidelity, Natixis and Blue Tractor won permission from the Securities and Exchange Commission to create ETFs that disclose their holdings once a quarter, rather than every day like conventional ETFs. The watchdog indicated in November that it was inclined to approve the applications.
LVMH to buy Tiffany for US$16B in largest luxury-goods deal ever - BNN Bloomberg
LVMH agreed to buy Tiffany & Co. for more than US$16 billion in the largest luxury-goods deal ever, raising the French conglomerate’s profile in jewelry and giving it access to a broader swath of American shoppers. The owner of the Louis Vuitton brand agreed to pay US$135 a share for the U.S. jeweler, according to a statement Monday. That values Tiffany 13 per cent above an initial US$120-a-share bid. Boards at both companies considered the proposal on Sunday.
LVMH to buy jeweller Tiffany for over $16bn
Paris/New York — LVMH agreed to buy Tiffany for more than $16bn in the largest luxury-goods deal to date, raising the French conglomerate’s profile in jewellery and giving it access to a broader swath of US shoppers. The owner of the Louis Vuitton brand agreed to pay $135 a share for the US jeweller, according to a statement Monday. That values Tiffany 37% above the closing price before Bloomberg reported an initial $120-a-share approach on October 26.
Fisher Investments known for work in risky type of investment
By Rachel Evans and Sabrina Willmer, Bloomberg Published: November 8, 2019, 2:35pm Billionaire Ken Fisher made his name and fortune picking stocks. But over the years he’s also become a huge player in an arcane — and controversial — corner of Wall Street: exchange-traded notes. With little fanfare, his Fisher Investments has come to dominate more than a quarter of the $22 billion market in ETNs, whose outsize risks and hefty costs have drawn scrutiny from federal regulators.
Ken Fisher Has A Side Bet On A Risky Corner Of Wall Street
Billionaire Ken Fisher made his name and fortune picking stocks. But over the years he’s also become a huge player in an arcane -- and controversial -- corner of Wall Street: exchange-traded notes. With little fanfare, his Fisher Investments has come to dominate more than a quarter of the $22 billion market in ETNs, whose outsize risks and hefty costs have drawn scrutiny from federal regulators.
Most Loved (and Hated) Quant Strategy Lures $3 Billion to ETFs
Nov 01 2019, 9:41 PMNov 01 2019, 9:59 PMNovember 01 2019, 9:41 PMNovember 01 2019, 9:59 PM
Most Loved (and Hated) Quant Strategy Lures $3 Billion to ETFs
(Bloomberg) -- It’s one of the most polarizing strategies there is, yet betting on value stocks is back in vogue for investors in exchange-traded funds. More than $3 billion poured into ETFs that focus on undervalued companies in October, the most this year, data compiled by Bloomberg Intelligence show. The Vanguard Value ETF was the biggest beneficiary, adding close to a third of that amount. Just this week, the SPDR S&P 400 Mid Cap Value ETF saw its largest inflow since December.
A $50 Billion Bond Trade Embraced By Goldman Hinges On ETF Gains
Bond traders at some of the world’s largest banks have more than $50 billion riding on the success of the exchange-traded fund market, according to a new report from BlackRock Inc. So-called portfolio trades, in which multiple bonds from different borrowers change hands during one transaction, are “a direct result of the growth of fixed income ETFs and their associated ecosystem,” BlackRock executives led by Dan Veiner, the firm’s global head of fixed income trading, wrote in the report.
Analysis | How Ordinary U.S. Investors Own a Piece of China
BloombergQuickTake Analysis Analysis Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events A women wears a bright red hat, covered with yellow stars in the style of the People’s Republic of China’s national flag, also known as the Five-star Red flag as she visits the Forbidden City in Beijing, China, on Thursday, July 28, 2016.
The $4 Trillion ETF Market Just Got a Boost from Washington
(Bloomberg) -- Wall Street’s main watchdog is cutting back regulatory red tape for exchange-traded funds, potentially triggering faster growth for the $4 trillion market.
The $4 Trillion ETF Market Just Got A Boost From Washington
Wall Street’s main watchdog is cutting back regulatory red tape for exchange-traded funds, potentially triggering faster growth for the $4 trillion market. After more than a decade of wrangling, the U.S. Securities and Exchange Commission said Thursday that it had eased constraints that the industry argues have slowed the process of issuing new ETFs. Specifically, the SEC eliminated the need for ETF providers to seek a special order from the agency before funds can be sold to investors.
The $4 Trillion ETF Market Just Got a Shot in the Arm from D.C.
Securities Law News By Ben Bain and Rachel Evans Sept. 26, 2019, 1:49 PM Wall Streetâs main watchdog is cutting back regulatory red-tape for exchange traded funds, potentially triggering faster growth for the $4 trillion market.
Stock Whiplash Spurs Worst Run Of ETF Withdrawals In Six Months
Print | Reprint | August 19, 2019 • Rachel Evans, Sarah Ponczek Loading Other Articles... Loading Other Articles... A volatile few months for global stock markets is taking its toll on exchange-traded funds. Almost $18 billion fled U.S.-listed equity ETFs during the past three weeks, the most since February, according to data compiled by Bloomberg Intelligence. Investors pulled more than $3.5 billion in the five days through Aug.
Vanguard Put Gun Stocks In A Gun-Free Fund After Index Error
Loading Other Articles... Loading Other Articles... Vanguard Group Inc.’s biggest sustainable exchange-traded fund bought shares of gun maker Sturm Ruger & Co. Inc. and held them for more than a month, mimicking an error in the benchmark it tracks. Vanguard US ESG Stock ETF says it tracks an index that doesn’t include weapons manufacturers, along with other companies that socially responsible investors prefer to avoid.
Meet the 'SPY 11' Kids With $250B Riding on Their Lives
The fate of the world’s largest exchange-traded fund rests on the health of a group of twenty-somethings. Thanks to a quirk in the legal structure used to set up the SPDR S&P 500 ETF Trust, known as SPY, more than $250 billion rests on the longevity of 11 ordinary kids born between May 1990 and January 1993. Those children are now carving out careers in public relations, restaurants and sales, spread around the country from Boston and Philadelphia to Alabama and Utah.
Meet the 'SPY 11' kids with $250 billion riding on their lives
By Rachel Evans, Vildana Hajric and Tracy Alloway The fate of the world’s largest exchange-traded fund rests on the health of a group of twenty-somethings. Thanks to a quirk in the legal structure used to set up the SPDR S&P 500 ETF Trust, known as SPY, more than $250 billion rests on the longevity of 11 ordinary kids born between May 1990 and January 1993.
Fund Blowups Rekindle Doubts About ETF Liquidity in Crisis Times
1 / 2 (Bloomberg) -- A couple of prominent investment funds are currently living through a portfolio manager’s worst nightmare: So many customers are demanding their money back that withdrawals need to be frozen.Amit Deshpande, a former longtime risk manager, sees it as a wake-up call. In particular, he’s watching the growing ranks of asset managers who rely on ETFs to act as cash equivalents.
BlackRock Looks to Five 'Megatrends' to Expand Its ETF Business | Newsmax.com
BlackRock Inc., the world’s largest asset manager, is jumping further into the thematic exchange-traded fund arena. The firm is focusing on creating ETFs based on what it calls “megatrends.” These forces “will change the trajectory of the global economy, drive innovation and redefine business models for decades to come,” BlackRock said in a note before a press conference in New York on Thursday.
BlackRock Looks to 5 ‘Megatrends’ to Expand Its ETF Business
BlackRock headquarters in New York. (Photo: AP) BlackRock Inc., the world’s largest asset manager, is jumping further into the thematic exchange-traded fund arena. The firm is focusing on creating ETFs based on what it calls “megatrends.” These forces “will change the trajectory of the global economy, drive innovation and redefine business models for decades to come,” BlackRock said in a note before a press conference in New York on Thursday.
An ETF for avocados? Perhaps, but it’s gonna take some time
There’s now an ETF for anyone wanting to bet on the trade war, gamble on the cannabis craze, or go all-in on the death of the mall. The financial industry has wowed investors in recent years with ever-more specialised exchange-traded funds, but creating them isn’t necessarily simple or quick. Just because hand-wringing about guacamole prices was a fixture in market commentary during the past week doesn’t mean we’re likely to see an avocado ETF anytime soon.
Someone Just Bet $288 Million on Tech Stocks
1 / 2 Someone Just Bet $288 Million on Tech Stocks (Bloomberg) -- As the S&P 500 gauge of U.S. stocks heads for a record close Tuesday, at least one investor in exchange-traded funds is positioning for a bigger bull run. More than $288 million shares in the $20.1 billion Vanguard Information Technology ETF, known as VGT, crossed the tape at 11:42 a.m. in New York, lifting trading in the fund to the highest in more than three months, data compiled by Bloomberg show.
Stock Pickers Love ETFs That Hide Assets, But Investors May Not
« Previous Article | Next Article » Print | Reprint | April 10, 2019 • Rachel Evans, Annie Massa Loading Other Articles... Loading Other Articles... After more than four years of waiting, active managers may soon be able to start exchange-traded funds without giving away their investing secrets -- but it may be too little, too late to rejuvenate the industry.
SEC Poised To Approve ETFs That Hide Their Secret Sauce
Print | Reprint | April 8, 2019 • Rachel Evans, Annie Massa Loading Other Articles... Loading Other Articles... An exchange-traded fund structure that enables actively managed funds to not have to reveal their assets is poised to get regulatory blessing after a more than four-year wait. The Securities and Exchange Commission plans to issue an order granting Precidian Funds permission for the new type of ETF, the watchdog said in a notice Monday.
How Bots Are Creating Next-Gen Funds
Kensho Technologies was focused on analyzing North Korean missile launches, earthquakes and elections when John van Moyland joined in 2014. The Central Intelligence Agency was among its early backers. Now, its focus has shifted to finance. S&P Global Inc. bought the firm last year and the artificial-intelligence startup lasered in on another technical challenge: developing the next generation of indexed funds.
Investing 2.0: How Bots Are Forging the Next Generation of Funds | Newsmax.com
Kensho Technologies was focused on analyzing North Korean missile launches, earthquakes and elections when John van Moyland joined in 2014. The Central Intelligence Agency was among its early backers. Now, its focus has shifted to finance. S&P Global Inc. bought the firm last year and the artificial-intelligence startup lasered in on another technical challenge: developing the next generation of indexed funds.
As Cash-Back ETF Hits Market, Signs Of Trouble Start To Mount
Loading Other Articles... Loading Other Articles... There’s a whiff of desperation among asset managers in their seemingly never-ending war on fund fees. Last week, one ETF upstart created a minor splash by doing what was once unthinkable -- offering to pay investors to buy into its exchange-traded fund.
As Cash-Back ETF Hits Market, Signs of Trouble Emerge
There’s a whiff of desperation among asset managers in their seemingly never-ending war on fund fees. Last week, one ETF upstart created a minor splash by doing what was once unthinkable — offering to pay investors to buy into its exchange-traded fund. That comes on the heels of eight fund providers — including JPMorgan Chase, Vanguard and BlackRock to name a few — all slashing fees in one of the industry’s most aggressive rounds of price cuts to date.
JPMorgan Steps Closer To Zero Fees With Cheapest-Ever Stock ETF
« Previous Article | Next Article » Print / Reprint / March 11, 2019 • Rachel Evans Loading Other Articles... JPMorgan Chase & Co. is still trying to make a buck while selling America’s cheapest exchange-traded fund. The New York-based bank plans to charge just 20 cents for every $1,000 invested in a new stock fund, undercutting all 2,000 existing U.S. ETFs, a regulatory filing showed Monday.
Forget no fees. ETF breaks ground by offering to pay investors
Your Name: Your Email: Send Email To: Keep this field blank ETFs Salt Financial plans to woo buyers with a fund that will temporarily pay them to invest. Free is no longer cheap enough in the ultra-competitive market for exchange-traded funds. Salt Financial, which currently runs one $10 million ETF, plans to woo buyers with a fund that will temporarily pay them to invest, according to regulatory filings.
Forget No Fees. ETF Breaks Ground by Offering to Pay Investors
Free is no longer cheap enough in the ultra-competitive market for exchange-traded funds. Salt Financial, which currently runs one $10 million ETF, plans to woo buyers with a fund that will temporarily pay them to invest, according to regulatory filings. During the first year, holders will receive 50 cents for every $1,000 in a new low-volatility stock ETF -- until it grows to $100 million when the cash-back benefit will be capped and shared with all investors.
Forget No Fees. ETF Breaks Ground By Offering To Pay Investors
Print | Reprint | March 12, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... Free is no longer cheap enough in the ultra-competitive market for exchange-traded funds. Salt Financial, which currently runs one $10 million ETF, plans to woo buyers with a fund that will temporarily pay them to invest, according to regulatory filings.
Forget No Fees. ETF Breaks Ground By Offering To Pay Investors
Print / Reprint / March 12, 2019 • Rachel Evans Loading Other Articles... Free is no longer cheap enough in the ultra-competitive market for exchange-traded funds. Salt Financial, which currently runs one $10 million ETF, plans to woo buyers with a fund that will temporarily pay them to invest, according to regulatory filings.
JPMorgan Steps Closer To Zero Fees With Cheapest-Ever Stock ETF
Print | Reprint | March 11, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... JPMorgan Chase & Co. is still trying to make a buck while selling America’s cheapest exchange-traded fund. The New York-based bank plans to charge just 20 cents for every $1,000 invested in a new stock fund, undercutting all 2,000 existing U.S. ETFs, a regulatory filing showed Monday. But for some even that price isn’t low enough, with analysts predicting that a zero-fee ETF is only a matter of time.
China's stock market about to see $46 billion pour in
MSCI will increase China’s weighting to 3.3% from 0.7% in three steps between May and November. Bloomberg| Mar 03, 2019, 11.26 AM IST Chinese equities climbed to the highest since June on Friday, leaving them up 20 percent this year. By Rachel Evans and Rebecca Choong Wilkins There’s some serious money heading to Chinese stocks, already the world’s best performing equity market this year. After MSCI Inc.
The World's Hottest Stock Market About to See $46 Billion Pour In | Newsmax.com
There’s some serious money heading to Chinese stocks, already the world’s best performing equity market this year. After MSCI Inc. announced Thursday that it would boost the weighting of China’s onshore shares in its emerging market index, more than $46 billion is poised to pour in from funds that track the gauge, according to Bloomberg estimates.
Bots Ousted by Humans In NYSE Plan To Make ETF Trading Smoother
« Previous Article | Next Article » Print | Reprint | February 28, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... The New York Stock Exchange is preparing to hand human traders a bigger role making markets for exchange-traded funds.
ETF Fees Are Falling To Zero As SoFi Plans First No-Cost Funds
« Previous Article | Next Article » Print | Reprint | February 25, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... The first free exchange-traded fund is on its way. Social Finance Inc., the online lender known as SoFi, is helping start two new ETFs that won’t charge a management fee, according to regulatory filings. The funds, which plan to waive charges for at least the first year, will focus on U.S. stocks.
Stock Volatility Won't Save Actively Run Funds, Bernstein Says | Newsmax.com
Mutual-fund companies counting on a return of stock-market volatility to revive interest in actively managed funds should look elsewhere, according to Sandford C. Bernstein’s top executive. After suffering years of outflows as investors channel more and more of their money into cheaper indexed products, some managers welcomed a return of price swings and last year’s market plunge as the beginning of better times for stock pickers.
Stock Volatility Won't Save Actively Run Funds, Bernstein Says
« Previous Article | Next Article » Print | Reprint | February 14, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... Mutual-fund companies counting on a return of stock-market volatility to revive interest in actively managed funds should look elsewhere, according to Sandford C. Bernstein’s top executive.
Vanguard's Davis Compares Global Growth To 'Rocky Balboa' Fight
« Previous Article | Next Article » Print | Reprint | February 11, 2019 • Rachel Evans, Annie Massa Loading Other Articles... Loading Other Articles... The global economy is in for a challenging year, according to Greg Davis, chief investment officer of Vanguard Group Inc. Drawing on the movies about fictional boxer Rocky Balboa, Davis said that markets face a tough fight, even if they ultimately ride out the year.
Legg Mason to shut 3 ETFs in bid to offer what's 'relevant'
News (Bloomberg) --Legg Mason Inc., the Baltimore-based investment management company, plans to close a quarter of its ETFs next month. The firm is shutting… The ETFs are also closing just weeks after reaching their three-year anniversary, (Photo: Shutterstock) (Bloomberg) –Legg Mason Inc., the Baltimore-based investment management company, plans to close a quarter of its ETFs next month.
The ETF's Wonky Cousin Can Trip Up a Sophisticated Investor | Newsmax.com
Nick Cherney was still on the slopes when he realized something was wrong. The outdoor enthusiast, who runs exchange-traded products at Janus Henderson Investors, was just skiing back into Aspen after spending eight hours on some of Colorado’s toughest backcountry terrain. He’d been without a cell signal all day and, as he looked at his phone, he started to fear this was no ordinary Monday. Almost 2,000 miles away in New York, traders were in an uproar. It was Feb.
Insurers Can Now Manage Cash With ETF For Minnesota's Blue Cross
« Previous Article | Next Article » Print / Reprint / January 29, 2019 • Rachel Evans Loading Other Articles... An asset manager that oversees investments for Blue Cross & Blue Shield of Minnesota is starting an exchange-traded fund for insurers and other treasurers wanting to streamline their cash management. The ETF, which will trade under the ticker AWTM, will be actively run by Aware Asset Management, which manages $1.6 billion, according to a press release from the company.
Minnesota Blue's Asset Manager Starts ETF for Insurers
An asset manager that oversees investments for Blue Cross & Blue Shield of Minnesota is starting an exchange-traded fund for insurers and other treasurers wanting to streamline their cash management. The ETF, which will trade under the ticker AWTM, will be actively run by Aware Asset Management, which manages $1.6 billion, according to a press release from the company.
Insurers Can Now Manage Cash With ETF For Minnesota's Blue Cross
« Previous Article | Next Article » Print | Reprint | January 29, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... An asset manager that oversees investments for Blue Cross & Blue Shield of Minnesota is starting an exchange-traded fund for insurers and other treasurers wanting to streamline their cash management.
In Bezos Split, Indexers Weigh A Wonky Question Worth $6 Billion
« Previous Article | Next Article » Print | Reprint | January 11, 2019 • Rachel Evans Loading Other Articles... Loading Other Articles... Jeff and MacKenzie Bezos’s split has created a puzzle for index investors: Who gets their stock in Amazon.com Inc.? Regulatory filings show Jeff Bezos owns almost 79 million shares of the company, worth about $130 billion as of yesterday.
Wonky Reason the Bezos Divorce Could Shake Up Stock Indexes | Newsmax.com
Jeff and MacKenzie Bezos’s split has created a puzzle for index investors: Who gets their stock in Amazon.com Inc.? Regulatory filings show Jeff Bezos owns almost 79 million shares of the company, worth about $130 billion as of yesterday. If MacKenzie takes a chunk in a settlement -- or either party needs to liquidate their assets to meet divorce expenses -- those could become part of the company’s freely traded stock.
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