Monday morning briefing – September 23, 2019
A bitcoin yield fund for the high-net-worth. Private equity and venture capital outperforming public equities. Why international co-operation is needed to combat cybercrime. And much more in this week’s briefing.
Economic/industry news
The Fed reduced its central interest rate: Fed lowers interest rate by a quarter-point, and is open to the idea of more easing
Canadian inflation rate was 1.9% in August: Canadian inflation slows to 1.9% on lower gas, vegetable prices
The BoE held its Bank Rate steady at 0.75%: Bank of England holds rates, warns another Brexit delay could hurt economic growth
The BoJ kept its key interest rate at -0.10%: BOJ keeps policy steady, signals chance of easing in October
A look at how liquidity affects an ETF’s trading costs: Why liquidity matters in ETF cost minimization
Does the value of benchmark data justify the cost?: Fund managers seek more insight from benchmark data
News and notes (U.S.)
Hedge fund net exposure at highest level since 2018: Goldman: Hedge fund exposure to stock market at 15-month high
A conversation with Josh Harris on private markets: Apollo’s Josh Harris talks private markets at delivering alpha
PE and VC outperforming public equities: Private equity outperforms and captures institutional flows
Private equity net cash flow was over US$150 billion in 2018: Eight years in the black for private equity cash flows
Vanguard to launch Digital Advisor: Vanguard preparing to offer digital-only robo-advisor
Rockefeller Capital eyes Silicon Valley: Rockefeller Capital buys wealth firm for Silicon Valley rich
The Fed took action in money markets for first time in a decade: Fed intervenes in money markets for first time in 10 years
Looking for more customized target-date funds: Interest rising in active/passive hybrid strategies for TDFs
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: September 17 edition
News and notes (Canada)
Horizons launches the Horizons Growth TRI ETF Portfolio: Horizons ETFs expands lineup of portfolio ETFs
CI Investments launches ESG funds: CI introduces debut ESG funds
Combining mutual funds and ETFs could be beneficial: Mutual funds and ETFs in harmony
Canada ranks “below average” in fund costs, according to Morningstar: Canada rates poorly in Morningstar survey of mutual fund costs
Foreign investors moving out of Canadian securities: Foreign investors continue to divest Canadian securities
On the pulse – New frontiers in fintech
Five fintech trends to watch in 2020: Five trends shaping fintech into 2020
How to navigate through customers’ fear of open banking: Open banking scares customers, but they want what APIs can deliver
A look at Canadians’ comfort with AI: How Canadians feel about AI in financial services
We’re in the early innings of AI’s impact on the financial services industry: The beginning of the road for AI in finance, the best is yet to come
Building a branch as an advice centre: Transforming branches into advice centers: The long road ahead
How technology is impacting capital markets: Buyers’ brief: Fintech drives capital markets
Why international co-operation is needed to combat cybercrime: Cyber-crime best tackled by international co-operation
Arab Bank launches custody and brokerage services for digital assets: Leading Swiss private bank launches full suite of digital asset services
High-net-worth topics
Family offices incorporating ESG principles: Wealthy families pour fortunes into $31 trillion ESG opportunity
A bitcoin yield fund for the high-net-worth: Wealth manager launches world-first bitcoin yield fund
Polls & surveys – What financials are saying
38% of fund managers expect a recession over the next year (Bank of America Merrill Lynch): Recession fears among fund managers rise to highest level in a decade
Immigration wage gap impacting Canada’s economy (RBC): Immigrant wage gap costing Canada $50 billion a year in GDP: RBC study
Millennials are starting to save early (E*Trade): Young investors are doin’ it for the ‘Gram