The race-to-the-bottom on fees is a feature of the highly competitive $8 trillion US ETF industry, where even a couple of basis points of difference can translate into millions of dollars worth of inflows.
Dubbed BXPE, the fund will invest in private strategies including startups, fund stakes and the buyouts that Blackstone Chief Executive Officer Steve Schwarzman is known for.
Several insurers are ramping up their participation in net asset value financing, an increasingly popular form of borrowing for private equity funds that need liquidity amid a tough market for cashing out holdings.
The rebound in Treasury yields to start the year comes after bonds rallied sharply in the last two months of 2023 on signals that the Fed is pivoting toward more dovish monetary policy.
Andy Stout, CIO of $19 billion Allworth Financial, discusses the RIA’s proprietary scorecard to filter through thousands of funds, the firm’s strategy for weathering economic risks and how the firm uses direct indexing to bring alpha to clients.