Monday morning briefing – October 21, 2019
Digital-only banks succeeding through a robust customer experience. ESG adoption by institutional investors may be slowing. Venture capital mega-deals continue to grow. And much more in this week’s briefing.
Economic/industry news
Canada’s inflation rate was 1.9% in September: Canadian inflation holds steady at 1.9%, core measures inch up
China’s economic growth slowed in the third quarter: China says its economy grew 6% in the third quarter, slower than expected
Retail sales in the U.S. declined: U.S. retail sales dip 0.3% in September
The end of the 60/40 portfolio?: Bank of America says 60-40 portfolios are dead. They’re right
Show a bit of pessimism towards a trade deal: Morgan Stanley tells stock bulls not to kid themselves on trade
The IMF predicts weaker economic growth in 2019: Global conflicts could lead to weakest growth since 2008: IMF
News and notes (U.S.)
The Eurekahedge Hedge Fund Index declined 0.30% in September: Hedge funds down 0.30 per cent in September
A look at hedge funds’ favourite research firms: The research hedge funds want to pay for
Why private markets will continue to flourish: The company of the future is private
How debt financing companies are attracting businesses: How debt financing is adapting to compete with equity financing
VC mega-deals continue to grow: 2019 on pace for another $100B invested as VC exit value tops $200B for the first time [datagraphic]
A look at how much the U.S. green economy is worth: America’s ‘green economy’ is now worth $1.3 trillion
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: October 15 edition
News and notes (Canada)
Waypoint launches liquid alternatives fund: Liquid alternatives: The Waypoint All Weather Liquid Alternative Mutual Fund
Desjardins launches ETF portfolios: Desjardins adds ETF portfolios to its roster
National Bank launches the NBI Unconstrained Fixed Income ETF: National Bank launches fixed-income ETF
Canaccord Genuity expands into Australia: Canaccord Genuity to acquire Australian firm for $23.3 million
Canadian M&A activity down in the third quarter: Mergers and acquisitions slow in third quarter: report
Michael Lee-Chin discusses the challenges impacting advisors: Adapt or become irrelevant, Lee-Chin warns advisors
On the pulse – New frontiers in fintech
Using technology to focus on consumer engagement: Digitizing banking is all about engagement and CX, not ‘tech’
Digital-only banks succeeding through a robust customer experience: Look to your customers for the key to banking success
Searching for innovative new technology: Where do incumbents look for game-changing innovation?
Canadians’ use of fintech on the rise: More Canadians using fintech, in spite of privacy concerns
The majority of U.K. financial institutions are using machine learning technology: Machine learning advancing in financial sector – Bank of England
Emerging challenger banks can be found all around the globe: Some challengers really are challenging … but not where you’re looking
Appealing to wealthier millennials: How upscale millennials’ money views impact their banking habits
How to keep up with regulatory change: How to approach modern regulatory change management in financial services
NatWest piloting a fingerprint credit card: Technology-based banking products launched
A look at what technologies are impacting advisors most: 10 female leaders share top tech trends that’ll change your practice
High-net-worth topics
Millennials’ wealth is expected to grow: There are more than 600,000 millennial millionaires in the US, according to report
What a wealth tax could mean for the high-net-worth: Explaining a wealth tax to clients
Polls & surveys – What financials are saying
Preparing portfolios for an economic slowdown (Aviva): Proceed with caution on asset allocation: report
ESG adoption by institutional investors may be slowing (RBC): Survey finds ESG adoption tapering off among institutional investors
There may not be a global recession until 2021 (HSBC): Global recession unlikely until 2021: HSBC