The Franklin Templeton Fixed Income team believes that sustainable investing will be a dominant investment trend in the coming years, with structural tailwinds that could help improve financial returns.
A tough year for banks has left shares cheap, but Wall Street analysts are still hesitant to declare it’s all-clear for the sector as concerns over credit markets loom.
As of last week, Morningstar Direct calculated that 391 new ETFs had begun trading in 2023. That's significantly higher than the 311 that had debuted by the final week of October in 2021, the year ETF launches set a record of 475.
Active strategies are playing a key role in that record-breaking pace. Despite holding about 6% of total assets, actively managed ETFs still added almost one-third of total flows in September. Nearly 75% of the launches so far this year have been active ETFs.
AllianceBernstein (AB) launched its first ETFs into that intensely competitive marketplace. My guest, Noel Archard, is here to discuss the competitive dynamics of the ETF industry and his strategy to gain market share in the advisor intermediary channel.
The notoriously saturated $7.7 trillion ETF industry is this year poised for the second-highest number of closures, as the pandemic-era day trading boom fizzles out.
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the November 2023 close.
In mid-September, Rockefeller Asset Management, the asset management arm of Rockefeller Capital Management, and KraneShares, a leading global ETF provider specializing in China, climate, and uncorrelated assets, launched the KraneShares Rockefeller Ocean Engagement ETF (ticker: KSEA). The fund invests in public companies with significant impact on oceans and ocean resources, reflecting the meaningful investment opportunities within the blue economy.
KSEA aims to generate competitive returns and improve ocean health through shareholder engagement activity focused on pollution prevention, carbon transition, and ocean conservation. Holdings include companies from diverse sectors such as aquaculture, commercial fishing, waste management, renewable energy, and logistics, among others.
My guest, Casey Clark, will discuss this new ETF.
As the profession requires more advisors, targeting a wider talent pool and creating a structure to support their success is essential.
When news stories emerged last week that OpenAI had been working on a new AI model called Q* (pronounced “q star”), some suggested this was a major step toward powerful, humanlike artificial intelligence that could one day go rogue.
While corporate insiders are increasingly betting on shares of their own firms, bosses at the S&P 500’s best-performing company are cashing in.
The life story of Charlie Munger, who passed away on Tuesday at age 99, serves as a shining example of the enduring American Dream, especially now at a time when many people doubt whether the promise of a better life is still intact.
Our 2023 Manager ESG Survey shows that transparency around DEI data is increasing among investment managers. The results reveal that equity product managers in particular are more inclined to share DEI data compared to managers in other asset classes.
97% of corporate defined benefit (DB) plans can achieve full funding without a significant draw on corporate cash. This is an increase from the 86% noted in last year’s report.
Collateralized loan obligations, or CLOs, may be a way for advisors to enhance retail clients’ portfolios. They provide investors with access to a diverse pool of senior secured loans. While they have been primarily used by institutional clients to date, CLOs could enhance risk-adjusted returns for individual clients.
OpenAI’s power brokers seem to have decided that the quickest fix for last week’s dysfunction is to borrow a page from corporate America’s playbook by adding some establishment figures to its board.
November will be etched in the memories of investors as a remarkable month.
“I have never been more excited about the future,” wrote Sam Altman, the reinstated chief executive officer of OpenAI, to his subordinates on Wednesday, in a statement formally announcing his return and the rebuilding of the company’s fractured board.
Personal income (excluding transfer receipts) rose 0.3% in October and is up 5.4% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and 2.3% year-over-year.
Among his many contributions, Munger was a prolific armchair philosopher, whose speeches and interviews included hundreds — maybe thousands — of nuggets about how to invest and live well.
The private equity industry’s push into credit is so well advanced that no one bats an eyelid when the same buyout firm is invested in the debt and equity of the same portfolio company.
Ever since Alan Turing’s “imitation game,” we’ve been acutely aware of the importance of measuring the capabilities of computers against our own miraculous brains.
While equity styles go in and out of favor, quality companies continue to serve clients as a core holding, resilient to economic headwinds and market drawdowns. For long-term investors searching for a durable equity solution, we believe quality is “the real McCoy"
Often misunderstood, crypto has an important role to play in the alternatives sleeve of a portfolio.
The pandemic upended many of the things we thought we knew about the economy. Even now, economists struggle to answer such fundamental questions as whether Americans are better off financially.
Home prices continued to trend upwards in September as the benchmark 20-city index rose for a eighth consecutive month. The S&P Case-Shiller Home Price Index revealed seasonally adjusted home prices for the 20-city index saw a 0.7% increase month-over-month (MoM) and a 3.9% increase year-over-year (YoY). After adjusting for inflation, the MoM was reduced to 0.1% and the YoY was reduced to -2.9%.
A robust growth backdrop, a key input for cross-asset positioning, benefited from pent-up demand and an accommodative fiscal policy stance.
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
The cosmos, the final frontier, the galaxy beyond: Our collective fascination with outer space has always been intense. But with companies and public figures now dedicating huge sums of money to space exploration, it seems a new kind of space race has been born. In this episode of The Active Share, Hugo sits down with Chris Impey, an astronomer, educator, and author, to discuss the potential economic, environmental, and geopolitical ramifications of space exploration.
How can RIAs avoid missing the mark when it comes to private market investments?
Is a hedge fund anything without its founder? Another batch of well-known hedge fund managers have sold out or moved to liquidate portfolios this month. Their legacies as entrepreneurs underscore the challenges of building a firm that outgrows the key risk-taker.
ESG fund managers who turned to big tech as a low-carbon, high-return bet are growing increasingly anxious over the sector’s experimentation with artificial intelligence.
This is an exciting time for artificial intelligence and robotics stocks, with many companies reporting and some major news announcements. This week, for the Disruptive Theme of the Week, I reached out to VettaFi’s Senior Research Analyst, Zeno Mercer, for an update on the latest developments in AI and robotics.
Every time interest rates go up there is a flurry of demand for a product that has been around at least since the Roman Empire — annuities. The insurance industry has already seen rapid growth in annuity sales since 2021 and if rates remain at or move above current levels, demand seems poised to explode.
Both supply and demand of workers will prevent a surge in unemployment rates.
CIO designate Sean Taylor gives his take on what Asia has to offer global and emerging markets investors, from growth, to diversification, to innovation.
Cathie Wood’s ARK Investment Management and digital-asset firm 21Shares just became the first major applicant in the US spot Bitcoin ETF race to list a fee on their planned offering.
The primary holder of U.S. Federal debt is, surprising to many, the U.S. federal government itself, accounting for approximately 40% of the total outstanding debt.
The S&P 500 has rallied in recent days and was up close to 20% for the year. However, heading into 2024, many advisors are exploring a range of investment ideas that offer exposure beyond the stock market.
It might feel as though enthusiasm surrounding artificial intelligence (AI) and the related investment theme has waned in recent months. Actually, the opposite is true.
After three days of high drama at the world’s most closely watched startup, which many compared to a coup, Microsoft Corp. capped the weekend with one of its own: The software giant hired ousted OpenAI chief Sam Altman.
Though inflation continues to cool, there remains a potentially longer road ahead to get to the Fed’s desired 2%. In an environment of uncertainty and elevated inflation, the inclusion of managed futures in a portfolio made a significant difference in the last few years as modeled by DBi recently.
A new psychological contract is transforming the modern workplace, highlighted by an increase in collective actions and changing employee expectations.
At first blush, a record $100 billion flood into actively managed exchange-traded funds this year raises a tantalizing prospect: A revival of stock picking even as only Big Tech names outperform the market. Yet, a look under the hood of popular ETFs shows the boom is almost entirely taking place in passive-looking trades.
Month-over-month nominal retail sales in October were down 0.1% and up 2.48% year-over-year. However, after adjusting for inflation, real retail sales were down 0.2% MoM and down 0.73% year-over-year.
Senior Investment Analyst Ashley Fritz addresses three major misconceptions around ESG investing in the EM corporate space.
Is your firm specialized enough?
This article provides a brief guide to the AI technologies available (it’s not just ChatGPT), their applications in wealth management, and how your firm can define specific business outcomes to achieve.
With less than two months left in 2023, this maybe another disappointing year for broad-based ex-US developed market equity funds. This includes a slew of passive exchange traded funds.
Just six metrics can effectively assess sovereign issuers’ sustainability and provide guidance for both issuers and investors.
New investors are overwhelmingly choosing ETFs as their investment vehicle of choice. Between June 13 and June 28, Charles Schwab conducted a comprehensive survey of 2,200 investors for its 2023 ETFs and Beyond Study.
We’ve always intended for the unique collaboration between AllianceBernstein (AB) and Columbia University to serve the broader asset-management industry. Asset owners and managers alike are eager to explore the complex issues of climate change and its potential effect on investments and investment decision-making.
On this episode of “What Makes That Ticker Tick,” VettaFi CMO Jon Fee brought on Roxanna Islam, the Associate Director of Research at VettaFi, to discuss the SNET Composite Closed-End Fund Index (CEFX).
Earlier this month, I attended Bob Veres’ Insiders Forum conference in San Antonio. As it is every year, the highlight of the conference is Bob’s presentation of the Insiders Forum leadership award. This year’s recipient was Angie Herbers, my guest today. I cannot overstate the significance of this award. Virtually every other award in the advisor profession is part of a pay-for-play scheme, where the award is made with the expectation that the recipient will pay to attend some expensive dinner or to get the right to use the award publicly. But this award is purely merit-based and recognizes the contributions that individuals have made to advance the advisor profession.
Those contributions were evident in the presentation Angie made about her most recent research after receiving her award, and she is here today to share some of those findings.
In this period of higher interest rates, the quest to capture alpha and mitigate risk in corporate credit requires a more refined approach.
With the race to year-end now upon us, I share my thoughts on why, despite the recent reset and higher rates, I still see several reasons for market optimism for the remainder of the year.
At a recent educational event organized by Franklin Templeton, Franklin Templeton Institute’s Senior Alternative Investment Strategist Tony Davidow hosted a day of panels that focused on alternative investments.
The so-called dividend aristocrats have an impressive track record. But much of that outperformance can be attributed to its exposure to certain factors.
Michael Lewis’ book on SBF is woefully incomplete, rather like a canvas that Rembrandt inexplicably left half blank, for the book elides three major questions.
The S&P 500’s pitch is simple. Own it and get exposure to the biggest of the big among US firms. Lately, it’s gotten harder to maintain that point of distinction.
You have nothing to lose when you increase your fees to match the value you deliver. Advisors chronically undercharge for the value they provide.
Households are better off today than before the pandemic.
Here’s a sobering truth you’re seeing more of every day: Your unique status, as an advisor, is declining at a rapid pace.
In this article, Portfolio Managers Jonathan Curtis and Ryan Biggs share their insights on where they see opportunities in digital transformation and how they are thinking about the relative attractiveness of public and private company investment opportunities.
If you believe that an easy solution to improve lower-class standards of living is to raise the minimum wage, or you are curious about what university presidents spend their time on, Angus Deaton’s new book provide insightful answers to those and many more questions that, taken together, challenge the relevance of modern economics and the capitalism it supports.
VettaFi’s vice chairman Tom Lydon discussed the RiverFront Strategic Income Fund (RIGS)on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”t
The data science wave is here, and bond managers must adapt traditional investment processes to harness new technologies and amplify human talent.
The world is becoming an increasingly diverse place, especially the societies that we live in and we invest in. It’s not just about social equity that companies need to focus on diversity, equity, and inclusion; it’s really about business fundamentals.
US consumers have kept buying these things despite high inflation and the contractionary policy of the Federal Reserve, and they deserve thanks not only for the recession that still has not come, but for the fast pace of recent economic growth.
Morgan Stanley’s incoming chief executive officer, Ted Pick, said investment banking will lead the next business cycle, and that hiring for that business will help the firm compete with rivals.
The longer the U.S. debt is left to grow, the harder it will be to correct.
Bloomberg's James Seyffart offers the latest on the spot bitcoin ETF race and also discusses ether futures ETFs, spot ether ETFs, and crypto equity ETFs. VettaFi's Todd Rosenbluth highlights Vanguard's ETF success and covers a range of other topics including recent launches from Morgan Stanley and iShares.
U.S. equities have ruled the roost for the better part of the last decade, but another region may emerge as the leader if the business cycle changes.
Tight lending standards and rising yields, along with concern about an approaching turn in the business cycle, have put opportunistic credit in the spotlight. But what, exactly, does opportunistic credit mean? Here’s how we look at it—and what we think it may offer investors.
Using a new database that isolates the activity of retail investors, new research documents their poor performance
A Bitcoin rally fueled by optimism about fresh demand from exchange-traded funds may have further to run if history is any guide.
ESG isn’t a new concept. In recent years, it’s gained more attention and assets thanks partly to the proliferation of related ETFs.
Russell Investments’ 2023 Manager ESG Survey, now in its ninth year, continues to offer valuable insights into the evolving landscape of ESG practices within the investment management industry.
It may not be new, but one of the best modern-day examples of disruptive technology is the smartphone. It is a technology that has radically disrupted human behavior and changed how we live our daily lives.
A multi-asset approach to sustainable investing brings a broad and more balanced palette to paint with.
In 2021, almost two-thirds of respondents said they considered environmental, social and governance (ESG) factors when investing. In 2022, that number was 60%, and this year it’s 53%, according to the annual ESG Attitudes Survey from the Association of Investment Companies.
Is there a lesson here for financial advisors? Indeed, there are two.
Those closely following the quest for an exchange-traded fund that would hold Bitcoin have Friday circled on their calendars.
According to Gary Gensler, chair of the SEC, a market crash caused by artificial intelligence is “nearly unavoidable.” Like many other regulators, he has called for new regulations on AI to prevent such dire scenarios.
Dimensional’s new ETFs are good news for investors but raise issues for advisors.
There is a growing movement among investors to align their portfolio to their values or belief systems. Advisors can use Direct Indexing products and Separately Managed Accounts to help their clients pursue faith- or values-based investing.
A run of shrinking quarterly profits may finally end soon, but it's probably not time to break out the champagne just yet.
What Makes That Ticker Tick? AMZI: Alerian MLP Infrastructure Index Featuring Stacey Morris and Jon Fee
While a goals-based approach divides a retiree’s liabilities (future spending goals/needs) and assets into separate pieces with separate mandates, it can be useful to see how they all stack together.
A decade ago, the US was deep into a misguided elite-driven freakout about the federal budget deficit. Back then, inflation was low, interest rates were low, and unemployment was high.
Our September Cyclical Forum was the first to be held in London, where the economic situation today reflects what’s happening around the world.
We see promising potential in countries with younger populations and forward-looking policies, such as India, Indonesia, and Mexico.
Diversity & Inclusion
Growing Green: Cultivating a Sustainable Future Through an Ecosystem Service Valuation
The Franklin Templeton Fixed Income team believes that sustainable investing will be a dominant investment trend in the coming years, with structural tailwinds that could help improve financial returns.
Bank Stocks Are Cheap But Credit Risks Keep Analysts Wary
A tough year for banks has left shares cheap, but Wall Street analysts are still hesitant to declare it’s all-clear for the sector as concerns over credit markets loom.
AllianceBernstein’s Strategy for the ETF Market
As of last week, Morningstar Direct calculated that 391 new ETFs had begun trading in 2023. That's significantly higher than the 311 that had debuted by the final week of October in 2021, the year ETF launches set a record of 475.
Active strategies are playing a key role in that record-breaking pace. Despite holding about 6% of total assets, actively managed ETFs still added almost one-third of total flows in September. Nearly 75% of the launches so far this year have been active ETFs.
AllianceBernstein (AB) launched its first ETFs into that intensely competitive marketplace. My guest, Noel Archard, is here to discuss the competitive dynamics of the ETF industry and his strategy to gain market share in the advisor intermediary channel.
Bursting of Pandemic-Stock Bubble Fuels Big Wave of ETF Closures
The notoriously saturated $7.7 trillion ETF industry is this year poised for the second-highest number of closures, as the pandemic-era day trading boom fizzles out.
The S&P 500, Dow and Nasdaq Since Their 2000 Highs
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the November 2023 close.
The New “Clean Ocean” ETF
In mid-September, Rockefeller Asset Management, the asset management arm of Rockefeller Capital Management, and KraneShares, a leading global ETF provider specializing in China, climate, and uncorrelated assets, launched the KraneShares Rockefeller Ocean Engagement ETF (ticker: KSEA). The fund invests in public companies with significant impact on oceans and ocean resources, reflecting the meaningful investment opportunities within the blue economy.
KSEA aims to generate competitive returns and improve ocean health through shareholder engagement activity focused on pollution prevention, carbon transition, and ocean conservation. Holdings include companies from diverse sectors such as aquaculture, commercial fishing, waste management, renewable energy, and logistics, among others.
My guest, Casey Clark, will discuss this new ETF.
Diversity is Good for Business
As the profession requires more advisors, targeting a wider talent pool and creating a structure to support their success is essential.
OpenAI’s Q* Is Alarming for a Different Reason
When news stories emerged last week that OpenAI had been working on a new AI model called Q* (pronounced “q star”), some suggested this was a major step toward powerful, humanlike artificial intelligence that could one day go rogue.
Nvidia Insiders Unload Shares After 220% AI Rally
While corporate insiders are increasingly betting on shares of their own firms, bosses at the S&P 500’s best-performing company are cashing in.
A Tribute to Charlie Munger and the Promise of the American Dream
The life story of Charlie Munger, who passed away on Tuesday at age 99, serves as a shining example of the enduring American Dream, especially now at a time when many people doubt whether the promise of a better life is still intact.
Diversity in Investment Management: What Are the Latest Trends and Insights?
Our 2023 Manager ESG Survey shows that transparency around DEI data is increasing among investment managers. The results reveal that equity product managers in particular are more inclined to share DEI data compared to managers in other asset classes.
2023 Prudent Pension Funding Report: A Story of Positive Trends and Persistent Outliers
97% of corporate defined benefit (DB) plans can achieve full funding without a significant draw on corporate cash. This is an increase from the 86% noted in last year’s report.
How CLOs Can Enhance Returns for Retail Clients
Collateralized loan obligations, or CLOs, may be a way for advisors to enhance retail clients’ portfolios. They provide investors with access to a diverse pool of senior secured loans. While they have been primarily used by institutional clients to date, CLOs could enhance risk-adjusted returns for individual clients.
OpenAI Exposes the Clash of Governing Money and Mission
OpenAI’s power brokers seem to have decided that the quickest fix for last week’s dysfunction is to borrow a page from corporate America’s playbook by adding some establishment figures to its board.
Uncertainty Looms Over a November to Remember
November will be etched in the memories of investors as a remarkable month.
Bandaged Up OpenAI Faces a Tougher Task Now
“I have never been more excited about the future,” wrote Sam Altman, the reinstated chief executive officer of OpenAI, to his subordinates on Wednesday, in a statement formally announcing his return and the rebuilding of the company’s fractured board.
The Big Four Recession Indicators: Real Personal Income Increases in October
Personal income (excluding transfer receipts) rose 0.3% in October and is up 5.4% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and 2.3% year-over-year.
The Charlie Munger Principles to Invest and Live By
Among his many contributions, Munger was a prolific armchair philosopher, whose speeches and interviews included hundreds — maybe thousands — of nuggets about how to invest and live well.
What If Lending to Your Own Buyout Gets Sticky?
The private equity industry’s push into credit is so well advanced that no one bats an eyelid when the same buyout firm is invested in the debt and equity of the same portfolio company.
What We Need to Talk About When We Talk About AI
Ever since Alan Turing’s “imitation game,” we’ve been acutely aware of the importance of measuring the capabilities of computers against our own miraculous brains.
Quality: The Real McCoy
While equity styles go in and out of favor, quality companies continue to serve clients as a core holding, resilient to economic headwinds and market drawdowns. For long-term investors searching for a durable equity solution, we believe quality is “the real McCoy"
Industry Experts Share Upbeat Crypto Outlook for 2024
Often misunderstood, crypto has an important role to play in the alternatives sleeve of a portfolio.
Economists May Have Been Flying Blind All Along
The pandemic upended many of the things we thought we knew about the economy. Even now, economists struggle to answer such fundamental questions as whether Americans are better off financially.
S&P Case-Shiller Home Price Index: Continues to Trend Upward in September
Home prices continued to trend upwards in September as the benchmark 20-city index rose for a eighth consecutive month. The S&P Case-Shiller Home Price Index revealed seasonally adjusted home prices for the 20-city index saw a 0.7% increase month-over-month (MoM) and a 3.9% increase year-over-year (YoY). After adjusting for inflation, the MoM was reduced to 0.1% and the YoY was reduced to -2.9%.
Multi-Asset Investing: Tracing the Growth Impact of US Fiscal Policies
A robust growth backdrop, a key input for cross-asset positioning, benefited from pent-up demand and an accommodative fiscal policy stance.
AI Heralds a Technology Paradigm Shift—But Not So Fast
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
42: Cosmic Capitalism
The cosmos, the final frontier, the galaxy beyond: Our collective fascination with outer space has always been intense. But with companies and public figures now dedicating huge sums of money to space exploration, it seems a new kind of space race has been born. In this episode of The Active Share, Hugo sits down with Chris Impey, an astronomer, educator, and author, to discuss the potential economic, environmental, and geopolitical ramifications of space exploration.
Direct Lending: One Arrow in the Private Credit Quiver
How can RIAs avoid missing the mark when it comes to private market investments?
Is a Hedge Fund More Than Its Founder?
Is a hedge fund anything without its founder? Another batch of well-known hedge fund managers have sold out or moved to liquidate portfolios this month. Their legacies as entrepreneurs underscore the challenges of building a firm that outgrows the key risk-taker.
‘AI Blowback’ Angst Grips ESG Investors Who Bet Big on Tech
ESG fund managers who turned to big tech as a low-carbon, high-return bet are growing increasingly anxious over the sector’s experimentation with artificial intelligence.
Disruptive Tech Theme of the Week: Zeno Mercer Talks AI and Robotics
This is an exciting time for artificial intelligence and robotics stocks, with many companies reporting and some major news announcements. This week, for the Disruptive Theme of the Week, I reached out to VettaFi’s Senior Research Analyst, Zeno Mercer, for an update on the latest developments in AI and robotics.
Annuities Are Back in Fashion, But Are They Safe?
Every time interest rates go up there is a flurry of demand for a product that has been around at least since the Roman Empire — annuities. The insurance industry has already seen rapid growth in annuity sales since 2021 and if rates remain at or move above current levels, demand seems poised to explode.
Loosening Labor
Both supply and demand of workers will prevent a surge in unemployment rates.
Why Asia Matters
CIO designate Sean Taylor gives his take on what Asia has to offer global and emerging markets investors, from growth, to diversification, to innovation.
Wood’s Ark, 21Shares Unveil Fee on Pending Spot Bitcoin ETF
Cathie Wood’s ARK Investment Management and digital-asset firm 21Shares just became the first major applicant in the US spot Bitcoin ETF race to list a fee on their planned offering.
Who Owns the Federal Debt?
The primary holder of U.S. Federal debt is, surprising to many, the U.S. federal government itself, accounting for approximately 40% of the total outstanding debt.
Chart of the Week: What Alternatives Are Worthy of Attention?
The S&P 500 has rallied in recent days and was up close to 20% for the year. However, heading into 2024, many advisors are exploring a range of investment ideas that offer exposure beyond the stock market.
Artificial Intelligence Still Generating Plenty of Buzz
It might feel as though enthusiasm surrounding artificial intelligence (AI) and the related investment theme has waned in recent months. Actually, the opposite is true.
Microsoft Ends Weekend of OpenAI Drama With Coup of Its Own
After three days of high drama at the world’s most closely watched startup, which many compared to a coup, Microsoft Corp. capped the weekend with one of its own: The software giant hired ousted OpenAI chief Sam Altman.
Modeling the Benefits of Managed Futures Portfolio Inclusion
Though inflation continues to cool, there remains a potentially longer road ahead to get to the Fed’s desired 2%. In an environment of uncertainty and elevated inflation, the inclusion of managed futures in a portfolio made a significant difference in the last few years as modeled by DBi recently.
A Changing World: The New Psychological Workplace Contract
A new psychological contract is transforming the modern workplace, highlighted by an increase in collective actions and changing employee expectations.
A $100 Billion ETF Flood Offers Little Solace to Active Managers
At first blush, a record $100 billion flood into actively managed exchange-traded funds this year raises a tantalizing prospect: A revival of stock picking even as only Big Tech names outperform the market. Yet, a look under the hood of popular ETFs shows the boom is almost entirely taking place in passive-looking trades.
The Big Four Recession Indicators: Real Retail Sales Down 0.2% in October
Month-over-month nominal retail sales in October were down 0.1% and up 2.48% year-over-year. However, after adjusting for inflation, real retail sales were down 0.2% MoM and down 0.73% year-over-year.
EM Corporates & ESG: A Surprisingly Strong Opportunity Set
Senior Investment Analyst Ashley Fritz addresses three major misconceptions around ESG investing in the EM corporate space.
Dear FiComm: Is Our Firm Specialized Enough?
Is your firm specialized enough?
Where Does AI Fit in Your Firm’s Future?
This article provides a brief guide to the AI technologies available (it’s not just ChatGPT), their applications in wealth management, and how your firm can define specific business outcomes to achieve.
It Pays to Be Selective With Developed Market Equities
With less than two months left in 2023, this maybe another disappointing year for broad-based ex-US developed market equity funds. This includes a slew of passive exchange traded funds.
Six Metrics Light the Path to Sustainability for Emerging-Market Sovereigns
Just six metrics can effectively assess sovereign issuers’ sustainability and provide guidance for both issuers and investors.
Schwab Survey Reveals Strong Investor Preference for ETFs
New investors are overwhelmingly choosing ETFs as their investment vehicle of choice. Between June 13 and June 28, Charles Schwab conducted a comprehensive survey of 2,200 investors for its 2023 ETFs and Beyond Study.
Investing Lessons from Climate School, Class of 2023
We’ve always intended for the unique collaboration between AllianceBernstein (AB) and Columbia University to serve the broader asset-management industry. Asset owners and managers alike are eager to explore the complex issues of climate change and its potential effect on investments and investment decision-making.
10 Questions on CEFX
On this episode of “What Makes That Ticker Tick,” VettaFi CMO Jon Fee brought on Roxanna Islam, the Associate Director of Research at VettaFi, to discuss the SNET Composite Closed-End Fund Index (CEFX).
Do Advisors Deliver What Consumers Want?
Earlier this month, I attended Bob Veres’ Insiders Forum conference in San Antonio. As it is every year, the highlight of the conference is Bob’s presentation of the Insiders Forum leadership award. This year’s recipient was Angie Herbers, my guest today. I cannot overstate the significance of this award. Virtually every other award in the advisor profession is part of a pay-for-play scheme, where the award is made with the expectation that the recipient will pay to attend some expensive dinner or to get the right to use the award publicly. But this award is purely merit-based and recognizes the contributions that individuals have made to advance the advisor profession.
Those contributions were evident in the presentation Angie made about her most recent research after receiving her award, and she is here today to share some of those findings.
Portfolio Construction for Alpha Generation and Risk Mitigation
In this period of higher interest rates, the quest to capture alpha and mitigate risk in corporate credit requires a more refined approach.
2023 Fall Market Outlook
With the race to year-end now upon us, I share my thoughts on why, despite the recent reset and higher rates, I still see several reasons for market optimism for the remainder of the year.
Alternative Allocations: Lessons Learned From Institutions
At a recent educational event organized by Franklin Templeton, Franklin Templeton Institute’s Senior Alternative Investment Strategist Tony Davidow hosted a day of panels that focused on alternative investments.
Why Have the Dividend Aristocrats Performed So Well?
The so-called dividend aristocrats have an impressive track record. But much of that outperformance can be attributed to its exposure to certain factors.
Michael Lewis Paves the Road to Hell
Michael Lewis’ book on SBF is woefully incomplete, rather like a canvas that Rembrandt inexplicably left half blank, for the book elides three major questions.
Winner-Take-All Rally Spurs Big Distortion Among S&P 500 Members
The S&P 500’s pitch is simple. Own it and get exposure to the biggest of the big among US firms. Lately, it’s gotten harder to maintain that point of distinction.
Raising Your Fees Won't Leave You Homeless
You have nothing to lose when you increase your fees to match the value you deliver. Advisors chronically undercharge for the value they provide.
Survey of Consumer Finances: Consumers Are Fine
Households are better off today than before the pandemic.
You’re Not So Special Anymore – Here’s How to Deal With It
Here’s a sobering truth you’re seeing more of every day: Your unique status, as an advisor, is declining at a rapid pace.
Public and Private Avenues: How Franklin Equity Group Sees Digital Transformation
In this article, Portfolio Managers Jonathan Curtis and Ryan Biggs share their insights on where they see opportunities in digital transformation and how they are thinking about the relative attractiveness of public and private company investment opportunities.
The Perilous Fate of Modern Capitalism
If you believe that an easy solution to improve lower-class standards of living is to raise the minimum wage, or you are curious about what university presidents spend their time on, Angus Deaton’s new book provide insightful answers to those and many more questions that, taken together, challenge the relevance of modern economics and the capitalism it supports.
RiverFront Strategic Income Fund (RIGS)
VettaFi’s vice chairman Tom Lydon discussed the RiverFront Strategic Income Fund (RIGS)on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”t
Thoughts from the Digital Fixed-Income Evolution
The data science wave is here, and bond managers must adapt traditional investment processes to harness new technologies and amplify human talent.
Diversity of Thought A New Approach to Equity Alpha
The world is becoming an increasingly diverse place, especially the societies that we live in and we invest in. It’s not just about social equity that companies need to focus on diversity, equity, and inclusion; it’s really about business fundamentals.
Why No Recession Yet? Thank the US Consumer
US consumers have kept buying these things despite high inflation and the contractionary policy of the Federal Reserve, and they deserve thanks not only for the recession that still has not come, but for the fast pace of recent economic growth.
Morgan Stanley’s Ted Pick Says Investment Banking to Lead Next Cycle
Morgan Stanley’s incoming chief executive officer, Ted Pick, said investment banking will lead the next business cycle, and that hiring for that business will help the firm compete with rivals.
A Deep Dive Into U.S. Debt
The longer the U.S. debt is left to grow, the harder it will be to correct.
Bloomberg’s James Seyffart Offers Latest on Crypto ETFs
Bloomberg's James Seyffart offers the latest on the spot bitcoin ETF race and also discusses ether futures ETFs, spot ether ETFs, and crypto equity ETFs. VettaFi's Todd Rosenbluth highlights Vanguard's ETF success and covers a range of other topics including recent launches from Morgan Stanley and iShares.
Expanding (Investment) Horizons: The Case for Investing Globally
U.S. equities have ruled the roost for the better part of the last decade, but another region may emerge as the leader if the business cycle changes.
Opportunity Knocks: Investing in Dislocation
Tight lending standards and rising yields, along with concern about an approaching turn in the business cycle, have put opportunistic credit in the spotlight. But what, exactly, does opportunistic credit mean? Here’s how we look at it—and what we think it may offer investors.
Proof that Retail Investors Perform Poorly
Using a new database that isolates the activity of retail investors, new research documents their poor performance
Bitcoin History Supports Bulls After 10% Weekly Jump on ETF Speculation
A Bitcoin rally fueled by optimism about fresh demand from exchange-traded funds may have further to run if history is any guide.
Work to Be Done to Improve ESG Adoption
ESG isn’t a new concept. In recent years, it’s gained more attention and assets thanks partly to the proliferation of related ETFs.
2023 Manager ESG Survey: Climate Risk Dominates
Russell Investments’ 2023 Manager ESG Survey, now in its ninth year, continues to offer valuable insights into the evolving landscape of ESG practices within the investment management industry.
Disruptive Tech Theme of the Week: The Smartphone
It may not be new, but one of the best modern-day examples of disruptive technology is the smartphone. It is a technology that has radically disrupted human behavior and changed how we live our daily lives.
Seeking Balance in Sustainable Multi-Asset Investing
A multi-asset approach to sustainable investing brings a broad and more balanced palette to paint with.
The Tyranny of ESG Has Run Its Course
In 2021, almost two-thirds of respondents said they considered environmental, social and governance (ESG) factors when investing. In 2022, that number was 60%, and this year it’s 53%, according to the annual ESG Attitudes Survey from the Association of Investment Companies.
Two Lessons from a Jar of Jellybeans
Is there a lesson here for financial advisors? Indeed, there are two.
Bitcoin-ETF Watchers Circle Friday as Next Key Date in Approval Race
Those closely following the quest for an exchange-traded fund that would hold Bitcoin have Friday circled on their calendars.
Stop Worrying That AI Will Cause the Market to Crash
According to Gary Gensler, chair of the SEC, a market crash caused by artificial intelligence is “nearly unavoidable.” Like many other regulators, he has called for new regulations on AI to prevent such dire scenarios.
Dimensional’s New ETFs Signal Trouble for Advisors
Dimensional’s new ETFs are good news for investors but raise issues for advisors.
How To Talk to Your Clients About Values and Faith-Based Investing
There is a growing movement among investors to align their portfolio to their values or belief systems. Advisors can use Direct Indexing products and Separately Managed Accounts to help their clients pursue faith- or values-based investing.
The Earnings Recession Could End Soon. Now What?
A run of shrinking quarterly profits may finally end soon, but it's probably not time to break out the champagne just yet.
AMZI: Alerian MLP Infrastructure Index
What Makes That Ticker Tick? AMZI: Alerian MLP Infrastructure Index Featuring Stacey Morris and Jon Fee
Long-Horizon Investing, Part 4: Real-Life Applications in Retirement
While a goals-based approach divides a retiree’s liabilities (future spending goals/needs) and assets into separate pieces with separate mandates, it can be useful to see how they all stack together.
The Federal Deficit Matters Now More Than Ever
A decade ago, the US was deep into a misguided elite-driven freakout about the federal budget deficit. Back then, inflation was low, interest rates were low, and unemployment was high.
Post Peak
Our September Cyclical Forum was the first to be held in London, where the economic situation today reflects what’s happening around the world.
There’s More To Emerging Markets Than China
We see promising potential in countries with younger populations and forward-looking policies, such as India, Indonesia, and Mexico.