There's no question that ChatGPT is taking the investing world (and industries beyond) by storm. The viral AI chatbot has the remarkable ability to write and populate content based on keywords and phrases – proof of what a very large, powerful generative AI system can accomplish in the modern age. But how about when it comes to investing? Can AI beat the market? ChatGPT says no, but our guest next week begs to differ. Join us on Wednesday when we'll have Art Amador, Co-Founder and COO of EquBot, which runs the AI Powered Equity ETF (AEIQ). We'll also hear from Bill Studebaker, President and CIO of ROBO Global.
Bringing more investors into the metaverse. Speaking of red-hot tech trends, BlackRock is entering the metaverse with the launch of its new iShares Future Metaverse Tech and Communications ETF (IVRS) – which will include companies that are making strides in the realms of virtual interactions like gaming, 3D software, social media and virtual and augmented reality. Apple, Nvidia and Facebook parent Meta top the list of major holdings.
Activist investor launches supply chain ETF. This week, Engine No. 1 rolled out its second actively managed ETF – and this time, it's all about companies bringing their supply chains back to America. The Engine No. 1 Transform Supply Chain ETF (SUPP) aims to invest in names that will benefit from adapting and revitalizing their supply chains – looking to bring their operations closer to home after Covid-19 led many firms to streamline and rethink their approach. Top holdings will include big manufacturing names like Martin Marietta Materials and Advanced Drainage Systems.
SEC targets mutual fund-to-ETF conversions. New year, new priorities. Last week, the SEC published an updated agenda that made it clear it would be taking a closer look at mutual fund-to-ETF conversions in 2023. Specifically, they are investigating whether 12b-1 fees tied to mutual funds – which cover marketing, distribution and shareholder costs – are being appropriately handled during the conversion process (and not being carried over into the ETF stage). The committee is also examining potential conflicts of interest and disclosures to investors as part of its investigation.
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