Monday morning briefing – August 26, 2019

What’s impacting value investing? Why is 5G important to businesses? Why are CRM2 disclosures still confusing investors? Which cities have the most ultra-high-net-worth individuals? These and many more questions are answered in this week’s briefing.

Economic/industry news

Canadian inflation rate at 2.0% in July: Inflation holds steady at 2%, tempering case for rate cut

U.S. manufacturing contracts in August: Manufacturing sector contracts for the first time in nearly a decade

The Fed wasn’t unanimous in its decision to cut rates: Fed officials divided over July rate cut, minutes reveal

A look at what may be impacting value investing: Grantham Mayo: What’s gone wrong with value investing?

Interest in asset management jobs high: More people than ever want to be in asset management, CFA data shows

It’s not only about the shareholders: Top U.S. CEOs rethink the meaning of shareholder value

News and notes (U.S.)

Hedge fund assets growing, despite redemptions: Hedge funds still seeing outflows, but performance boosts AUM

Hedge funds don’t believe that the U.S. economy is headed for a recession: Hedge funds aren’t betting on a recession, Goldman data show

The stronger the conviction, the stronger the return: For short bets, higher conviction = higher returns

Using social media to research alternative firms: PE and hedge funds are targets of social media sleuthing, suggest survey

The orthopedic space garnering a lot of attention from PE: This joint is jumping: PE firms knee-deep in orthopedic space

Unicorn exits in the U.S. may set a record in 2019: Unicorn exits are booming in 2019. Will it last?

Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: August 20 edition

News and notes (Canada) 

Investors still don’t fully understand what they are paying for: Report finds investors still confused by CRM2 disclosures

Goldman Sachs invests in Canadian alternatives firm: Goldman Sachs unit invests in Toronto-based Slate Asset Management

The Ontario Teachers’ Pension Plan surpassed $200 billion in assets: Ontario Teachers’ Pension Plan returns 6.3% in H1

IIROC plain language rulebook to be instituted next year: New IIROC rulebook approved for June 2020

On the pulse – New frontiers in fintech

A look at how banks can benefit from adopting AI: AI advantages in banking grow, adding pressure for broad adoption

A culture change is needed to fully leverage new technology: AI is not a technology change but a cultural one

How retailers are benefitting from fintech: 5 ways retailers are adapting to fintech revolution

Helping baby boomers retire: Fintechs need to help baby boomers boom

How fintechs can stay relevant: The longevity of challenger banks

How banks may evolve to help clients in their daily lives: The bank of the future will have data vaults and money vaults

A look at why 5G will be so important: What 5G really means for your business

Visa launches new security services to protect banks and merchants: Visa launches security suite

Revolut to focus on the business banking sector with expense management tool: Revolut targets business banking market 

JPMorgan Chase to discontinue Chase Pay: Chase Pay app shut down

High-net-worth topics

The next generation may move their assets to other firms: Trillions in HNW assets up for grabs in years ahead

These are the cities with the most ultra-high-net-worth individuals: Where the ultra-wealthy live in the United States 

The high-net-worth are using 529 plans to reduce income and estate taxes: How high earners are maximizing this unique tax loophole for education funding

401(k) millionaires rose in the second quarter: The number of 401(k) millionaires hits an all-time high

Polls & surveys – What financials are saying

Canadians need assistance on how to use the TFSA (RBC): Many Canadians unsure how to use TFSAs to build wealth: RBC poll

Majority of U.S. economists expect a recession (National Association for Business Economics): Almost three-quarters of American economists expect a recession by end of 2021

Advisors benefit from outsourcing investment management (AssetMark): How outsourcing investment management can benefit advisors: survey

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