Monday morning briefing – July 15, 2019

Hedge funds are changing their fee structures. A new climate change index from FTSE Russell. Turning the branch into an advice center. And much more in this week’s briefing.

Economic/industry news

The BoC held its rate steady at 1.75%: Poloz flags growing trade risks but keeps rates firmly on hold

The U.S. inflation rate fell to 1.6% in June: Consumer prices edge up in June, CPI shows, but inflation is still quite tame

Canadian housing starts rose to 246,000 in June: Canadian housing starts rise in June: CMHC 

The debt ceiling may need to be raised by September: U.S. debt ceiling fears surface in “kink” in Treasury bill yield curve as drop-dead date approaches

A new climate change index from FTSE Russell: FTSE Russell launching climate change index for sovereign bonds

MSCI to provide ESG ratings on funds and ETFs: MSCI adds ESG ratings to 32,000 funds and ETFs

New guidelines on performance reporting from the CFA Institute: CFA Institute unveils new global investment standards

A look at the benefits of using multifactor ETFs: Why use multifactor ETFs?

News and notes (U.S.) 

A look at the hedge fund industry in June: State of the industry – June, 2019

Hedge funds soared higher in the first half of 2019: Hedge funds post best first half in decade

Will there be a rebound in PE-backed exits?: Will US PE exits make up for lost time in the second half of 2019?

PE funds selling at a premium: The private equity funds selling for more than they’re worth

Charles Schwab adds more funds to its commission-free ETF platform: Schwab adds 25 ETFs to commission-free platform

Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: July 9 edition

News and notes (Canada) 

CIBC purchases U.S. investment banking firm: CIBC signs deal to buy Milwaukee-based boutique investment bank Cleary Gull

RBC purchases WayPay: RBC buys accounts payable specialist WayPay

Mercer and Wealthsimple partner to create a savings and advice solution: Mercer partners with Wealthsimple for digital investing solution

Canadians finding it difficult to move into higher income brackets: Canadian families are increasingly stuck in their income niche, StatsCan finds

Canadian ETFs experienced outflows in June: ETF flows flat in June as investors get defensive

On the pulse – New frontiers in fintech 

A look at five fintech trends: Here is a look at where fintech is leading us and why

Understanding the bank-fintech partnership: Banks and fintech partnerships: A clash of extremes

Banking customers still demand human contact: Financial services customers set to embrace AI but human contact still vital

Turning the branch into an advice center: Branches should be advice centers, but are banks ready?  

Creating highly personalized products and services: The market of one

Keeping AI ethical in corporate finance: Preventing unethical use of AI in corporate finance transactions

Advisors should be adopting new technologies: Why more advisors are embracing financial planning technology

JPMorgan enters robo-advice arena: JPMorgan rolls out robo-advisor

High-net-worth topics

The way the wealthy spend their money may be surprising: How do the wealthy spend their money? 

The net worth of high-net-worth individuals fell: Wealth declines among the global rich after seven years of growth

A look at some traits of billionaires: The secrets of self-made billionaires

Polls & surveys – What financials are saying

Hedge funds are changing their fee structures (AIMA): Hedge funds replacing ‘2 and 20’ with more flexible fees: study

U.S., Canadian and Japanese investors typically hold their investments for over four years (Schroders): U.S. investors most patient, and demanding, in world, study says

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