Monday morning briefing – June 3, 2019

A look at fintech’s progress in the small business market, the private equity market during the first quarter and why almost 50% of current students aren’t prepared to manage money. And much more in this week’s briefing.

Economic/industry news

The BoC holds its benchmark overnight interest rate steady: BoC holds rate, says numbers suggest slowdown was temporary

Global trade tensions are a major concern for the BoC: Trade war escalation ‘major preoccupation’ for Bank of Canada: top official

U.S. GDP revised to 3.1% in the first quarter: U.S. economic growth in the first quarter revised down slightly to 3.1 percent

The Canadian economy grew 0.4% (annualized) in the first quarter: First-quarter stall masks underlying strength in Canada’s economy

Low-volatility ETFs gain traction as markets become more volatile: Billions flow into low-vol and “buffer” ETFs as markets swing

A look at the difference between risk and volatility: The difference between investment risk and volatility

Mohamed El-Erian to become president of Queens’ College: Allianz’s El-Erian to head college at Cambridge University

News and notes (U.S.)

Hedge fund managers recorded a positive month in April: Hedge funds recorded fourth positive month of the year in April

Hedge funds and corporate social responsibility in action: How hedge funds use corporate social responsibility considerations

New Jersey pension to cut its exposure to hedge funds: N.J. Pension to cut hedge fund exposure 50% amid high fees

Bridgewater and Lyxor to partner on a UCITS fund: Ray Dalio’s Bridgewater is working with Lyxor on an alternative fund

A look at the PE market during the first quarter: 12 charts on US PE trends in 1Q

Dynasty Financial Partners launches M&A platform: Dynasty launches new M&A platform Dynasty Connect

Morningstar to purchase DBRS: Morningstar to buy Canadian debt-rating agency

Brookfield to invest in residential projects in Brooklyn and the Bronx: Brookfield seeks $1 billion for fund aimed at poor areas

Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: May 28 edition

News and notes (Canada)

 Purpose Financial purchases CreditGenie: Purpose acquires Toronto tech firm

Sharing data to reduce regulatory burdens for IIROC firms: IIROC and FINTRAC boost information sharing

Looking to bring a digital assets market to retail investors: Firms seek OSC approval on regulated market for crypto trading

Canadians aren’t financially prepared to retire: Canadians aren’t ready to retire?

VC investment had a 48% increase in the first quarter over the same period last year: Canadian VC investment boomed in Q1, while PE fizzled: report

On the pulse – New frontiers in fintech

Fintech has gone global: Fintech used to be a local game. Today it can be global

The impact of fintech on consumer loans: Fintech continues to disrupt consumer lending

Incorporating artificial intelligence into fintech: Everyday fintech use cases for A.I.

How to maximize the banking innovation lab: Time to ‘disrupt’ wrong thinking about banking innovation labs?

A look at fintech’s progress in the small business market: Fintech’s biggest new market is small business financing … but is it worth it?

Global regulator looking at key issues surrounding cryptoassets: IOSCO launches consultation on cryptoassets regulation

Robo-advice assets could grow to over US$1 trillion in five years: Robo AUM could reach US$1.26 trillion by 2023: report

High-net-worth topics

The wealthy may not want to pay more in taxes: Do wealthy clients want to pay more taxes?

The wealthy are moving to Florida: Florida wins big as wealthy leave northern states

Polls & surveys – What financials are saying

Canadian institutional investors may increase their allocation to alternative strategies (CIBC): Institutional investors adding alternatives, report says

Canadian CEOs are less optimistic than global CEOs about the Canadian economy (KPMG): Canadian CEOs’ confidence in the economy drops: report

Not enough Canadians have disability insurance (RBC): Half of Canadians have no disability insurance: survey

Almost 50% of current students aren’t prepared to manage money (AIG): Gen Z establishing bad financial habits, new research shows

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