A NOTE FROM BOB
Global ETF breakout. It's finally happening … the rest of the world is starting to catch up with the U.S. Vanguard Europe (VGK) at a new high, outperforming the S&P this quarter. Italy (EWI), Greece (GREK), Switzerland (EWL), Belgium (EWK) and even Russia (RSX) at or just shy of 52-week highs. Japan (EWJ) at a new high and not far from 28-year highs. That's lifting the large global ETF like Vanguard Total World (VT) to new highs as well.
The SEC has questions for ESG funds. You knew it was going to happen: There's been an avalanche of new ETFs that are trying to associate themselves with ESG (Environmental, Social, and Governance), but the criteria for what constitutes ESG is still slippery, and the SEC is putting everyone on notice they are watching. The criticism: there is no agreed-upon definition of ESG.
The race to low-cost index funds and zero-commission trading is occurring so fast that the asset management industry is undergoing unprecedented change, according to PGIM's CEO David Hunt. He says that as many as 80% of its players will become "zombie firms" unable to achieve the performance or volume needed to attract new money. Hunt says only three business models will succeed: indexing behemoths such as BlackRock Inc. and Vanguard Group; specialized firms that work with a specific asset type, such as private equity; and multi-asset investors with global scale.
At least the ETF business keeps growing. U.S. ETF assets have moved to $4 trillion this year, will grow to $5 trillion next year, and could top $50 trillion in the next decade, according to Bank of America. For more analysis and actionable insights, go to ETF Edge. KEY STORIES
IN CASE YOU MISSED IT
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kamis, 19 Desember 2019
ETF Edge newsletter
Langganan:
Posting Komentar (Atom)
Tidak ada komentar:
Posting Komentar