- Wealth Firms, Asset Mgrs Expect Active Fixed Income Boost “Asset and wealth management firms are expecting an uptick in flows to actively managed fixed income strategies, as advisors react to the Federal Reserve's first interest rate cut since hiking by 550 basis points.” (FundFire)
- Vanguard's new CEO eyes fixed income offering expansion “Fixed income markets have experienced severe volatility over the past two years as a rapid succession of hikes in interest rates across developed markets has hit bond prices and boosted yields. At the same time, higher yields have attracted hefty inflows into the asset class.” (Reuters)
- Schwab Splitting Shares for Two-Thirds of ETF Lineup “Schwab Asset Management is splitting shares on two-thirds of its 33 exchange-traded funds, aiming to stimulate sales with lower share prices. The company announced this week an effort to make 20 of its exchange-traded funds more appealing to financial advisors and retail investors by reducing the net asset values through share splits.” (ETF.com)
- State Street Global Advisors gears up for new ETF disruption “He is now increasingly focusing on the market for structured products — pre-packaged investments that use derivatives to attempt to achieve goals such as income generation or principal protection — which have been criticised for their complexity, opacity, illiquidity, high fees and counterparty risk.” (Financial Times)
- Hamilton Lane co-CEO Erik Hirsch: Retail investor impact on private markets will be ‘seismic’ “Individual investors will demand a more sophisticated customer experience with better access and improved transparency, Hirsch tells PE Hub.” (Private Funds CFO)
- Model Portfolio Assets to Hit $2.9T: Cerulli “That's up from roughly $2.1 trillion achieved as of the end of 2023, though the Cerulli report notes that ‘there is known to be significant levels of model assets outside of identifiable sources, such as paper model users who may become identifiable in the future as they migrate to platforms that ease model portfolio implementation.’” (FundFire)
- Was Jack Bogle Right About Smart Beta All Along? “What I overlooked, though, was whether smart-beta investors would choose well. After all, smart-beta funds are a cousin of sector funds, in holding one segment of a marketplace. And sector fund shareholders have fared poorly, owing to their habit of buying high and selling low.” (Morningstar)
- Advisors' Surging ETF Use Led by Active Funds: Fidelity “Purchases of active exchange-traded funds more than doubled among financial advisors since 2022, the Fidelity Institutional report on portfolio construction trends found. Based on over 3,000 professionally managed investment portfolios reviewed in the second quarter, the report states that 29% of advisors now have allocations to actively managed ETFs, up from 13% in 2022.” (ETF.com)
- An Alternative Perspective: Past, Present, and Future “Family offices and individual investors are also now increasingly embracing the return and diversification benefits provided by many parts of the Private Alternatives industry. Strong returns, reduced volatility to better combat public market turbulence, and access to more thematic opportunities also contribute to the sector’s attractiveness.” (KKR)
- Workers getting share in windfalls as private equity firms soften image “The payouts and evolving incentive plans are part of a growing, industry-wide effort to help the private equity industry soften its image as a bastion of elite privilege, which regularly draws the scorn of policymakers in Washington given the country’s high levels of income inequality.” (Financial Times)
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