Monday morning briefing – April 29, 2019

Fintech and the fourth industrial revolution. Could European equities benefit from a slowdown in U.S. share buybacks? How fintech can help the underserved. Actual fee disclosure missing in the Regulation Best Interest proposal. And much more in this week’s briefing.

Economic/industry news

The U.S. economy grew 3.2%, annualized, in the first quarter: U.S. economy grows 3.2% in the first quarter, well above estimates

The BoC held its benchmark overnight rate steady at 1.75%: Bank of Canada abandons rate-hike bias amid economic slowdown

Mark Carney to leave the BoE in 2020: Carney left his mark at the Bank of England, now it’s time to find his successor

Lack of inflows into equity markets partially the result of investors’ already high allocation to equities: Why stock-market investors aren’t suffering ‘FOMO’ despite return to all-time highs

Could European equities benefit from a slowdown in U.S. share buybacks?: End to $1 trillion buyback binge may help ‘uniquely hated’ asset

A look at some risks that could lead to a market correction: Roubini: 8 risks that could trigger the next correction

ESG investing does not mean lower returns: Does your client think socially responsible investing means poorer returns?

The number of ESG mandates continues to grow: Asset managers answer the growing call for ESG investments

News and notes (U.S.)

$13.69 billion was redeemed from hedge funds in March: Investors continue to pull money from hedge funds despite performance rebound, says eVestment

Asset and wealth management M&A activity had a strong start to 2019: M&A stays high as asset managers take ‘aggressive measures’ to survive

Average size of PE funds has grown this year: The average PE fund size is skyrocketing in 2019

Mary Meeker raises over $1 billion for her fund, Bond Capital: Mary Meeker raises $1.25B for Bond, her debut growth fund

Vanguard experienced net inflows of $62 billion in the first quarter: Vanguard tops Q1 flows: Morningstar

Potential new changes to Volcker Rule could benefit large banks: Wall Street nears a big win in the latest revamp of Volcker Rule

Actual fee disclosure missing in the Regulation Best Interest proposal: Should the SEC require advisors to make actual fee disclosures, as the EU does?

News and notes (Canada)

TD launches alternative funds for its private wealth management clients: TD Asset Management launches alternative investment funds for HNW clients

 First Asset rebrands ETFs into CI First Asset: First Asset rebrands ETFs and announces risk rating changes 

Canadians interested in responsible investing: RI continues to grow in Canada: Desjardins

The Ontario Teachers’ Pension Plan launches investment platform to help late-stage tech companies: Ontario Teachers’ launches venture capital investment platform 

Responding to international events: What should Canadian investors do about the news?

On the pulse – New frontiers in fintech

How fintech can help the underserved: Fintech touching millions of lives by redefining financial services

Digital transformation must keep the needs of customers in mind: Digital banking transformation requires cultural reboot

Ignore the excuses and begin your digital transformation: There’s no excuse why your financial institution can’t embrace digital transformation

 Fintech and the fourth industrial revolution: Why fintech should embrace the fourth industrial revolution 

Horizontal security layers can minimize the risk of a cyberattack: How horizontal security layers offer your organisation the best protection

People are concerned about their privacy when working with voice assistants: 41% of voice assistant users have concerns about trust and privacy, report finds 

The benefits of a robo-advisor: Key benefits of robo-advisors in fintech

The impact of digital assets on financial markets:
The Blockchain comeback: How institutions effectively use digital assets

TD to adopt Microsoft Azure for its data and AI initiatives: TD Bank opts for Microsoft Azure

Fidelity makes additions to its Wealthscape Integration Xchange: Fidelity expands its digital store for advisors

High-net-worth topics

Forbes Family Trust purchases Optima Fund Management: Forbes Family Trust, LGL buy $2 billion fund manager Optima

Polls & surveys – What financials are saying

Investors expressed positive sentiment towards the majority of asset classes (Horizons): Advisors and investors are bullish on 10 of 14 asset classes: survey

Americans don’t feel financially prepared for retirement (Fidelity): Americans are confident about their finances. Retirement? Not so much. 

Social and governance issues just as important as environmental concerns (Allianz): Social issues prominent among U.S. ESG investors, survey says

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