Monday morning briefing: Markets rise while economies struggle
Potential COVID-19 drug showed positive results. The keys to running a successful remote meeting. Could M&A be banned during the pandemic? And much more in this week’s briefing.
Economic/industry news
U.S. economic expansion ends: US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis
Europe’s GDP contracts: Europe’s economy just had its worst quarter since records began
Canada’s GDP unchanged in February: Canada’s GDP growth was already flat in February, StatsCan data shows
Fed keeps its central interest rate steady: Fed holds near-zero rate, Powell sees severe impact from pandemic
Investments in real estate could decline in 2020: Institutional investors set to pull back on real estate investments in 2020: survey
A look at the benefits of a merger arbitrage strategy: Five reasons why merger arbitrage is a must-own strategy
Five tips for investing during this crisis: T. Rowe offers 5 rules for investing during time of pandemic
People are turning to financial advisors for help: How a surprise pandemic reinforced the need for financial advice
Reasons for hope
Potential COVID-19 drug showed positive results: Gilead says early results of coronavirus drug trial show improvement with shorter remdesivir treatment
Some stories of human compassion: 5 uplifting stories of people showing up for each other during the coronavirus pandemic
Looking for faster tests: Federal government launches $500 million ‘Shark Tank’ style challenge to speed development of better coronavirus tests
Assisting your clients
How companies should plan for the future: How to plan your company’s future during the pandemic
Taking a proactive approach with clients: Acting, not reacting, during the pandemic
The keys to running a successful remote meeting: How to host remote meetings without chaos
Keeping track of actions by federal regulators: Better Markets launches COVID-19 regulatory tracker
Chart of the week
The S&P 500 Index, NASDAQ Composite Index and Dow Jones Industrial Average posted their strongest monthly returns in 20 years, after reaching multi-year lows in March as a result of the spread of COVID-19. All 11 sectors on the S&P 500 Index advanced, with over 90% of stocks on the index finishing higher. This comes despite a significant drop in economic activity across the U.S. and around the world. In the U.S., initial jobless claims continue to be in the millions, while first-quarter gross domestic product fell by 4.8%. Lower valuations and hope that economies will soon begin reopening boosted the performance of equity markets. Will the expectations of getting past this crisis drive market performance in May, or will investors demonstrate concern over weak incoming economic data? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Could M&A be banned during the pandemic?: Elizabeth Warren, Alexandria Ocasio-Cortez want mergers halted due to COVID-19
VC funds under pressure from the COVID-19 pandemic: VC funds face bigger risk than in financial crisis
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: April 29 edition
News and notes (Canada)
Oak Trust purchased by Raymond James: Investment firm Raymond James Ltd. acquires Oak Trust Co.
Horizons Canada makes changes to oil ETFs: Horizons announces effort to save troubled oil ETFs
Canadian DB plans had a significant decline in the first quarter: Canadian DB plans return negative 7.1% in first quarter
Canada’s fund industry lagging behind other countries in tax and regulations: Canada’s fund regulation, taxation falling short for investors: Morningstar
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Monday morning briefing: Tech stocks that shine during COVID-19 crisis
Thank you for reading Monday Morning Briefing. For this edition, and going forward, we have decided to change the format of the briefing to provide you with relevant information you will need to weather the new realities we face today – and the challenges that will likely continue over the coming months. As small business owners ourselves, we know that access to timely news, human stories and tools to help you operate better, can be invaluable at times like these. Please let us know if you have any feedback on our new format or want more information on our stories. We want to hear from you, our readers.
Jillian Bannister, CEO
Richard Heft, President
Economic/industry news
The BoC kept its central interest rate at 0.25%: BoC sees risk of ‘structural damage,’ ramps up bond-buying
Economic growth in Canada slumped in March: Data indicate economy plunged in March: StatsCan
China’s GDP contracted over the first quarter: China says its economy shrank by 6.8% in the first quarter as the country battled coronavirus
The value of alternatives through volatile markets: Alternatives can smooth market bumps
Cash levels among fund managers rising: Fund managers at highest cash levels since 9/11: BofA survey
COVID-19 has resulted in more cashless payments: Contactless payments skyrocket because no one wants to handle cash
Reasons for hope
A look at the potential cures for COVID-19: Handicapping the most promising of 267 potential coronavirus cures
Private equity firms stepping up to help first responders and portfolio company employees: Private equity firms promise millions for coronavirus relief
Restaurant changes operations to help community: Vaughan restaurant now making hand-sanitizer, keeps staff employed
Assisting your clients
Generation Z reconsidering how they view money: Why COVID-19 is rebooting how Gen Z feels about money and banking
Best practices to follow when RIAs are working from home: Key tech steps for RIAs working from home
Eight principles to keep in mind with your marketing efforts in the current market environment: PR and marketing: How to communicate during COVID-19
It is important to remain in constant contact with your clients: Communicate with clients clearly and often, consultant says
Looking after yourself while working from home: Pandemic, stress and luxury
Chart of the week
Despite significant volatility in financial markets over the past two months, there have been a number of stocks that have performed well. Some stocks have benefited from higher expectations for sales given that more people are at home. Here are a few of these “stay-at-home” stocks, which have outperformed the broader market, even producing share price gains. Netflix Inc., Amazon.com Inc., Peloton Interactive Inc. and Zoom Video Communications Inc. are all seeing gains. As people eventually return to work, and social distancing measures are relaxed, what will be in store for the share prices of these companies? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
The hedge fund industry experienced net outflows in February: Hedge funds see USD8.1bn in outflows in February
BlackRock raised US$5.1 billion for its latest alternative fund: BlackRock just closed its largest alternative fund yet
Allocators demonstrating cautious sentiment toward private market investments: Investors are cautious on private markets during shutdowns, Pitchbook survey shows
Investment funds experienced significant outflows in March: Funds saw largest ever exodus in March, Morningstar says
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: April 15 edition
News and notes (Canada)
Purpose Investments launches new fund: Purpose unveils new structured equity yield portfolio
A look at the federal government’s assistance programs: Understanding CERB, EI and the feds’ wage subsidy
CI Financial partnering with private-market investment company: CI Financial forges private-market investment partnership
IIROC is delaying fee collection: IIROC gives dealers a breather on fees
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing: Labour market faces challenges
International securities regulators focused on COVID-19. Many executives planning acquisitions in the next year. Handling client data with care. And much more in this week’s briefing.
Economic/industry news
Canada loses 1 million jobs: Canada sheds record 1.01 million jobs in March
The impact of short-term losses on long-term value: So how much wealth destruction has truly occurred since February?
Be careful trading based on Fed actions: Investors need to be selective in following the Fed
International securities regulators focused on COVID-19: Global regulators all-in on pandemic perils
A look at the similarities and differences between current conditions and the 2008 financial crisis: Comparing the current crisis to 2008
How governments can get people back to work, but keep them safe: How to restart national economies during the coronavirus crisis
Chart of the week: Labour market faces challenges
Canada’s job report for March showed a significant deterioration in its labour market. In an effort to contain the spread of COVID-19, many businesses were shuttered, at least temporarily, resulting in mass layoffs across many industries. In March, the Canadian economy lost over one million jobs, pushing the unemployment rate to 7.8%, its highest level since 2010. Markets will be carefully watching how the federal government’s wage subsidy program helps businesses, and if it keeps people employed. Let us know if you think this will be enough to bolster Canada’s labour market.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
A look at some strong and weak performing hedge funds in March: The winning and losing hedge funds of the March pandemic
Hedge funds’ returns declined in March: Hedge funds down 4.40 per cent in March, says Eurekahedge
Capital raised by private debt funds declined in the first quarter: Private debt funds struggle to raise capital in pandemic
Many executives planning acquisitions in the next year: While M&A grinds to a halt, many executives plan for future deals
Target-date funds experience declines amid extreme market volatility: Target date funds not immune to COVID-19 selloff: Morningstar
News and notes (Canada)
Canadian government relaxing restrictions on accessing wage subsidy program: Trudeau promises ‘relaxed’ rules for wage subsidy, more support for student jobs
A look at the impact of COVID-19 on the cannabis industry: Can pot stocks weather the COVID-19 hurdle?
How DB plans can navigate through the current market environment: A coronavirus game plan for defined benefit pension plans
Canada’s oil industry challenged by a confluence of factors: Alberta’s Kenney sees negative oil prices, $20 billion deficit
On the pulse – New frontiers in fintech
The use of fintech apps has risen in response to COVID-19: Coronavirus drives 72% rise in use of fintech apps
Now may be the time for financial institutions to improve its digital platforms: COVID-19 provides opportunity for digital transformation
Digitalization requires effective communication among different teams and departments: How to break down team and department silos for digital transformation
Helping banks and other organizations with customers’ COVID-19 questions: Google launches bot to help organizations answer COVID-19 questions
Handling client data with care: Why tech vendors must start taking our user data seriously
Insurers turning to digital tools for the sales application process: Insurers adapt underwriting, digital channels in pandemic response
High-net-worth topics
How the wealthy are navigating through the choppy markets (video): Tiger 21 Chairman Michael Sonnenfeldt on how his clients are navigating coronavirus-driven volatility
The wealthy should return to U.S. equities: Goldman tells rich clients U.S. stocks still offer best returns
Polls & surveys – What financials are saying
Canada’s economic recovery may not be rapid (CIBC): No quick recovery in sight, CIBC economists say
Financial advisors in the U.S. see more downside in stocks (Ned Davis): 4 in 5 advisors say stocks haven’t hit bottom: Survey
In this time of rising uncertainty, please know that ext. is closely monitoring COVID-19 and its impact – current and potential – on our firm, our clients’ businesses and the overall financial services industry.
We remain committed to seamless service for our clients and the well-being of our employees during this time. If you have any questions about business continuity at ext. – or how you can effectively communicate these and other timely issues with your clients, please reach out to your account manager or contact us 1.844.243.1830 or info@ext-marketing.com.
Monday afternoon briefing: Services sink
We may not see a v-shaped recovery. Why PE firms may be looking at publicly listed companies. How COVID-19 may change banking. And much more in this week’s briefing.
Economic/industry news
Canada’s economy grew 0.1% in January: Economic growth slowed in January to 0.1%, Statistics Canada says
U.S. unemployment rate rises to 4.4%: US payrolls plunge 701,000 in March amid the start of a job market collapse
We may not see a v-shaped recovery: Economists are losing hope in a ‘v-shaped’ post-virus recovery
The Fed is stepping up to help global debt markets: Fed steps in once again to try to smooth out lending markets
How pension plans are approaching rebalancing amid the market volatility: Investment portfolio rebalancing in the time of coronavirus
Happy birthday to ETFs: Getting better with age: ETFs turn 30
Chart of the week
As COVID-19 continues to spread around the world, the services sector has been particularly hard hit. Travel, accommodation and food services, among others, have all come to a halt. In its most recent results from IHS Markit, services across the U.S. and Europe have had their steepest decline ever. Even if the spread of COVID-19 is flat-lines and people quickly return to work, it will likely take some time for the services industry to fully recover. Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Stay defensive in down markets: Billionaire Howard Marks pitches a defensive investing outlook
Why PE firms may be looking at publicly listed companies: Private equity will go after listed companies. And corporations will welcome it.
The impact of the U.S. government’s stimulus package on private markets: What $2T in stimulus does – and doesn’t do – for private markets
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: April 1 edition
News and notes (Canada)
From skates to medical equipment: How private equity-owned Bauer pivoted from hockey gear to medical masks
Tax planning for business owners in the current environment: Tax tips for business owners navigating the pandemic
Real estate market in Canada could see significant declines: Distancing, economic uncertainty to hurt home sales: RBC
Counsel Portfolio Services makes changes to pricing: Counsel enhances tiered pricing program
On the pulse – New frontiers in fintech
With challenges come opportunities: Coronavirus: New challenges and opportunities for fintech
How COVID-19 may change banking: Reimagining banking during and after COVID-19
Fintechs can benefit from partnerships with private banks: Private banks may prove profitable partners for fintechs
Improving cash management systems: Firms look to better cash management capabilities
Answering questions about a digital transformation: Banks questions about doing digital transformation
Improving the process for online account openings: When opening accounts in branches becomes impossible
Helping advisors with remote client engagement tools, free until July: Wealthtech firm offers tool free of charge
High-net-worth topics
Reviewing your estate plan: How to take advantage of new estate planning opportunities caused by the coronavirus
The wealthy still bullish on the economy over the long term: Wealthy U.S. investors and business owners look hopefully to long term
Polls & surveys – What financials are saying
Canada’s stimulus measures could help ease the impact of COVID-19 (DBRS): Thumbs up for Canada’s large stimulus effort: DBRS
24% of millennials bought stocks despite volatile markets (Bankrate): Quarter of millennials bought stocks amid recent volatility: Bankrate
In this time of rising uncertainty, please know that ext. is closely monitoring COVID-19 and its impact – current and potential – on our firm, our clients’ businesses and the overall financial services industry.
We remain committed to seamless service for our clients and the well-being of our employees during this time.
If you have any questions about business continuity at ext. – or how you can effectively communicate these and other timely issues with your clients, please reach out to your account manager or contact us 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing: A look at the current equity run
What could be in store for the hedge fund industry in 2020? A look at the remarkable return of Bitcoin. A survey of some federal tax changes in 2020. And much more in this week’s briefing.
Economic/industry news
Canadian manufacturing pulls back in December: IHS Markit Canada Manufacturing PMI
China’s central bank reduces the reserve requirement ratio: China cuts banks’ reserve ratios again, frees up $115 billion to spur economy
Underwriting of global debt surged higher in 2019: A record year for global debt issuance
M&A activity across the world slowed last year: M&A activity declined in 2019
Millennials’ interest in ESG investing will impact markets: Millennials’ ESG investing will transform markets, DeVere Group says
Chart of the week – A look at the current equity run
What a decade it’s been for equities. The prolonged bull market has rewarded those investors who stayed the course with steady gains. Will the next decade bring more of the same, or are we due for a pullback? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Hedge funds’ performance fees fell in 2019: Hedge fund fees plummeted further in 2019
An overview of the mutual fund industry in 2019: Mutual funds scorecard: 2019 in review
What could be in store for the hedge fund industry in 2020?: 20/20 foresight for hedge funds in 2020?
Vanguard to offer free online trading for stocks and options: Vanguard joins the crowd, drops commissions on stocks and options trades
News and notes (Canada)
Will Ontario eliminate the DSC?: Investor advocate group expects Ontario to buckle on DSCs
A look at some federal tax changes in 2020: Lower taxes, new RRSP rules and digital news tax credit among 2020 changes
IIROC looking to support its dealer members: IIROC vows to support industry transformation
On the pulse – New frontiers in fintech
Some fintech predictions for the year ahead: Five fintech predictions for 2020, according to Kleiner Perkins
The path to becoming a digital institution: How to make your financial institution digital-first in 2020
Three trends in open source storage: Open source storage: driving intelligence in the small data sprawl era
A look at the remarkable return of Bitcoin: Bitcoin’s 9,000,000% rise this decade leaves the skeptics aghast
How fintech partnerships can help advisors: Taking a 2020 view of fintech in wealth management
High-net-worth topics
The number of high-net-worth individuals in Canada expected to grow: When it comes to wealth opportunity, Canada’s perfectly average
How the high-net-worth maintain their wealth across generations: 100 families’ secrets to staying wealthy for 100 years
Polls & surveys – What financials are saying
Canadians looking to eliminate debt in 2020 (CIBC): Getting out of debt remains Canadians’ top financial priority in 2020: poll
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing: The inverted yield curve
A new way to analyze equity investment funds. Why smaller could be better for private equity. Many aspiring investors don’t know how to get started. And much more in this week’s briefing.
Economic/industry news
The Fed held its federal funds rate steady: Fed holds rates steady and indicates no changes through at least 2020
Canadian and U.S. consumers in much different positions: U.S. consumers buoy global economy, while Canadians face debt
A new way to analyze equity investment funds: Morningstar launches a new framework to analyze equity funds
Why advisors need to frequently review their pricing structure: Advisors need to regularly reassess their fees, TD Exec says
The need to cross boundaries to drive growth: Investment managers must cross boundaries, says Deloitte
Chart of the week
In late August, the two- and 10-year yield curve inverted, seeing its spread dip into negative territory. This inversion was brought on by concerns about the global economy in response to escalating U.S.-China trade tensions. This sparked fears that a recession was imminent as was the case with previous inversions. While the global economy has been sluggish, the U.S. and China appear to be closing in on a phase-one trade deal that might help reignite global growth. According to a recent report by Goldman Sachs, the possibility of a recession in 2020 is low. Will we see a recession in the next year or two? Or, will a recession be avoided and slow growth continue? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Hedge funds rose 0.84% in November: Eurekahedge Hedge Fund Index up 0.84 per cent in November
Conversation with Stephen Schwarzman: Stephen Schwarzman doesn’t stop: An exclusive Q&A with Blackstone’s chief
Why smaller could be better for private equity: The truth about private equity fund size
A look at some year-end financial planning tips: Sixteen year-end financial planning tips
Remembering Paul Volcker: There’s the legend of Paul Volcker and the man I got to know
News and notes (Canada)
How Canada may benefit from the new USMCA: ‘A really good deal for Canada’: Former ambassadors on new NAFTA
Looking to eliminate redundancies in investor disclosure documents: IFIC asks CSA to reconsider fund disclosure rules
BoC Governor will not seek a second-term: Bank of Canada says Poloz will not seek a second term as governor
The potential impact from a higher tax-exempt basic personal amount: How the federal tax cut will impact clients
On the pulse – New frontiers in fintech
Banks should disrupt themselves before others do: How banking can avoid being disrupted in 2020 … disrupt themselves
Why partnerships are key for traditional and challenger banks: The growing trend of ecosystems within financial services
Preparing for augmented analytics: Augmented analytics: Are you ready?
Driving growth through new technology: Wealth manager using technology to drive next phase of growth
A look at the possible risks posed by BigTech firms entering the financial services industry: Rise of the machines: BigTech poses risks to financial system, FSB says
Helping businesses manage receipts: Metro Bank trials digital business receipts
High-net-worth topics
Why family offices should take a deeper look at sustainable investments: As high-net-worth families shift wealth to the next generation, family offices should lean in on sustainable investments
A look at the blockchain-related investments available to high-net-worth investors: Blockchain investment opportunities for HNW clients
Polls & surveys – What financials are saying
Many aspiring investors don’t know how to get started (IIROC): Aspiring investors don’t know where to find advice: survey
A look at Americans’ top financial priorities next year (Fidelity): Here are Americans’ financial goals for 2020: Fidelity
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday afternoon briefing: Small caps vs. large caps
A look at the top performing hedge fund strategies. The holdings of different generations. Europe is seeing a large increase in wearable payments. And much more in this week’s briefing.
Economic/industry news
The Bank of Canada held interest rates steady at 1.75%: Bank of Canada holds rates steady, citing ‘intact’ global recovery
Canada’s unemployment rate rose: Canada posts largest job loss since 2009 on full-time drop
U.S. labour markets were strong in November: Jobs growth surges in November, beating Wall Street expectations
Institutional investors’ looking to protect their portfolios: Global institutional investors sober as markets rally: survey
The challenges 2020 may bring: What headwinds do stocks face going into 2020?
Understanding the screening process of responsible investments: Lifting the veil on RI screening
Chart of the week
Since the end of 2016, small-caps have underperformed large-caps, as measured by the Russell 2000 Index and Russell 1000 Index, respectively. It’s not surprising given global trade tensions and their influence on equity market volatility. Investors have largely turned to larger-cap securities given their relative safety. If the U.S. and China reach a phase-one trade pact, will small-caps stocks take the lead? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Helping first-time managers raise money: These firms are helping managers beat their private capital fundraising goals
A look at the top performing hedge fund strategies: Equity long bias strategy tops hedge fund performance in 2019
Co-CEO of Bridgewater to leave firm: Murray to leave Bridgewater Associates
J.P. Morgan launches new ETF: J.P. Morgan Asset Management expands BetaBuilders suite
News and notes (Canada)
Horizons completes its corporate class reorganization: Horizons reorganizes 44 ETFs as corporate-class funds
Novacap launches Novacap Financial Services I: Private equity firm Novacap launches financial services fund
PE activity in Canada has slowed in 2019: Canadian PE industry on pace for investment slump
Onto the next step for a bitcoin fund: 3iQ files preliminary prospectus for Bitcoin fund
On the pulse – New frontiers in fintech
How changing technology will impact banking in 2020: The biggest technology trends that will disrupt banking in 2020
How tech and analytics are helping PE companies: Progressive VCs and private equity are using tech and analytics to revolutionize investing
Why regulators need to accept fintech in the banking industry: BankThink Charter or not, fintechs are already ‘banking’
Broadridge launches new AI tool: Broadridge launches new AI and machine learning platform for reconciliation, matching and exception management operations
A spotlight on emerging cities and fintech: Global fintech ranking shows importance of emerging cities
Europe is seeing a large increase in wearable payments: Wearable payments show sharp rise in uptake
High-net-worth topics
European private equity firms eyeing technology investments: Why Europe’s wealthy are betting on tech like never before
Younger U.S. high-net-worth investors showing interest in ESG: Wealthy, young investors driving shift to ESG, Cerulli reports
How the 2020 tax changes may impact the wealthy in the U.S.: What wealthy clients need to know about 2020 tax changes
Polls & surveys – What financials are saying
A look at the holdings of different generations (Charles Schwab): Self-directed millennials invested more in cash, ETFs than older investors
Business leaders uncertain about the outlook for the Canadian economy (CPA): Survey uncovers growing pessimism about Canada’s economy
A look at the struggles facing those who entered the labour market during the financial crisis (RBC): The struggle really is real for young investors
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing: 25 years of value vs. growth
Value versus growth over the past 25 years. Private debt fundraising down in 2019. Working on an approach to DSC. And much more in this week’s briefing.
Economic/industry news
Canadian GDP grew 1.3% in third quarter: Canada’s economy slows in third quarter even as demand jumps
Europe continues to favour active management: McKinsey: Where active management survives
There’s still a place for value investing: Has value investing stopped working?
Why small-cap stocks may be set to soar: Small may turn mighty as strategists see Russell strength ahead
M&A deals in financial services was US$57 billion in the third quarter: Financial sector M&A jumps in Q3, GlobalData
Why private equity can help a portfolio during a market downturn: Worried about a downturn? Consider private equity
Investors concerned about interest rates: Global investors cite interest rates as key portfolio risk: survey
Current market conditions may require a unique approach to active management: Revisiting active management and asset allocation
Chart of the week
Let’s look at value versus growth stocks on the S&P 500 Index since 1995. Toward the end of the 1990s and early 2000s, growth stocks surged higher in response to the dot-com bubble. After moving in lockstep until the 2008 financial crisis, growth stocks began outpacing value stocks. Is value investing in trouble or is it primed for a comeback? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
The Volcker Rule’s impact on hedge funds: The great hedge fund retreat
Private debt fundraising down in 2019: Against expectations, private debt fundraising saw a decline in 2019
The risks of unitranches: A booming corner of private credit has some investors on edge
Why it’s important to invest across vintages: In private equity, vintage diversification matters
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: November 26 edition
New rules proposed to make it easier for leveraged funds to come to market: SEC proposes new rule to ease the market entry of leveraged funds
Charles Schwab to purchase TD Ameritrade: Schwab to acquire TD Ameritrade in US$26-billion deal
Looking to allow private companies to raise money through a direct listing: NYSE proposes big change to direct listings
News and notes (Canada)
TD launches 10 new ETFs: TD Asset Management introduces new ETFs
CI takes stake in U.S. RIA firm: CI Financial buys US advisory firm
Canadian ETF assets rose to $192.3 billion in October: ETF sales rebound, mutual fund sales hold steady in October
Working on an approach to DSC: OSC decision on DSCs to come – eventually
Here are the winners from the Women in Wealth Management awards: Women in Wealth Management award winners revealed
IIROC provides updated guidance on AML requirements: IIROC steps up AML guidance
On the pulse – New frontiers in fintech
The importance of customer engagement: Reinventing retail banking customer experience in a digital world
How the entry of Big Techs into banking may impact fintech companies: Should ‘fintech’ fear big tech’s push into banking?
Customers are demanding a better digital experience: Banks losing customers who want seamless digital experiences
Why data science skills will be crucial for businesses to thrive: Analytics skills essential for business survival in ‘data decade’
The importance of IT infrastructure in developing AI capabilities: Big data LDN: Why you need to modernize your IT infrastructure for AI
Data analysis will be the focus in 2020: Why data will change the game again in 2020
Ant Financial looking to invest in the payments space: Ant Financial preps $1bn investment fund
New platform for independent advisors: Pascal Financial launches wealth management platform for advisors
High-net-worth topics
The wealthy want quality information from their advisor: What ultra high net worth clients want from wealth managers
The money habits of the rich: 5 things rich people do with their money
Polls & surveys – What financials are saying
During a recession, people want help from advisors (MDRT): Clients want you to help them through a recession: MDRT survey
Where are the female portfolio managers? (Goldman Sachs): Investment management is still a boys’ club: Goldman
Canadians are looking to eliminate debt (Manulife): Canadians agree they have too much debt
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing – November 25, 2019
Could charities suffer from higher taxes for the wealthy? OSC introduces new recommendations to reduce regulatory burden. Some important points to know from Congress’ PE hearings. And much more in this week’s briefing.
Economic/industry news
The Canadian inflation rate was 1.9% in October: Canadian inflation holds steady at 1.9% in October, remains on target
Capturing your clients’ attention with a story: How storytelling bolsters financial plans & client relationships
Why alternative investments could benefit a portfolio in current market conditions: Fitting alternatives into a 60-40 portfolio
Global ETF assets continue to soar: Global ETF assets surpass $6T
A look at Morningstar’s sustainability ratings: Understanding Morningstar’s new sustainability ratings
Why private investments can help DC plans: DC plans need private investments, Neuberger Berman says
News and notes (U.S.)
Hedge funds experienced outflows in September: Hedge fund redemption trend extends to four months in September
Helping hedge funds with their cold-calling efforts: Match.com for hedge funds or low-rent telemarketing service? Cold-calling firm Murano Connect has many fans, but just as many detractors.
Hedge funds preparing for a trade deal: Hedge funds are buying stocks exposed to US-China trade on hopes for a deal
Louis Bacon to close hedge funds: Billionaire Louis Bacon is closing legendary hedge fund to clients
Some important points to know from Congress’ PE hearings: 4 key takeaways from Congress’ private equity hearing
Two Sigma raises US$1.2 billion for first PE fund: Two sigma is getting into private equity
A brokerage powerhouse could be in the works: Charles Schwab in talks to buy TD Ameritrade, create brokerage giant: report
Still some concern from SEC on non-transparent ETFs: Fresh concerns raised on novel ETF structure
News and notes (Canada)
Evolve launches new ETF: Evolve launches high interest savings account ETF
iA Clarington launches new segregated funds: iA Financial expands seg fund lineup
The Financial Planning Association of Canada was launched: New association aims to elevate financial planning
OSC introduces new recommendations to reduce regulatory burden: OSC says firms will save millions in compliance costs
Capital growth being driven by real estate: Outside housing, Canadian capital growth is near a 60-year low
On the pulse – New frontiers in fintech
Fintech trends to watch for in 2020: Top fintech trends entrepreneurs must watch in 2020
Fintech needs principles-based regulation: Fintech regulation needs more principles, not more rules
The five trends you need to know for digital banking transformation: Top 5 digital banking transformation trends shaping 2020
A look at regtech’s impact on compliance: How regtech is transforming compliance
Making the most of customer analytics: How to maximise insight from your customer analytics
Teaching the ethics of AI: Scotiabank to train execs on AI ethics
PayPal purchases Honey Science Corporation: PayPal to acquire shopping and rewards platform Honey for $4B
Essential Portfolios lowers its minimum investment: TD Ameritrade lowers minimum for robo-advisor accounts
What’s in store for digital currencies: The high stakes of the coming digital currency war
Fidelity gets licence for its virtual currency business: Fidelity granted licence to operate virtual currency business in New York state
High-net-worth topics
A look at key-person insurance: How to protect your business from upheaval if the owner suddenly dies
Could charities suffer from higher taxes for the wealthy?: Tax the wealthy and their charities will suffer
The wealthy are looking for a secure location to store their precious metals: World’s rich are rattled and looking for old-fashioned security
Polls & surveys – What financials are saying
Millennials have a better understanding of fixed income’s role in a portfolio (BNY Mellon): Millennials understand fixed income better than do older investors: survey
Canadians’ concerned about the stock market, economy (IG Wealth Management): Canadians’ financial confidence dims: IG survey
Many Canadians are worried about outliving their retirement savings (Sun Life): 72% say retirement isn’t what they expected
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Monday morning briefing – November 11, 2019
U.S. PE funds’ capital raising reaches record high. Businesses looking to Canada for expansion. U.S. institutional investors are turning to liquid alternative ETFs. And much more in this week’s briefing.
Economic/industry news
Canada’s unemployment rate was 5.5% in October: Canadian economy lost 1,800 jobs in October, unemployment rate steady
The BoE held rates steady at 0.75%: Sterling falls after Bank of England split on interest rate cut
Expecting weaker growth in Europe: Eurozone forecast for long period of weak economic growth
How to access private markets: Smart ways to access private capital markets
U.S. institutional investors are turning to liquid alternative ETFs: Use of liquid alternative ETFs on the rise among institutional investors: study
Why defined contribution plans can benefit from alternative investments: Fundamental reasons for adding alternatives to DC pension portfolios
A look at Morningstar’s new rating system: Morningstar rolls out new ratings system
News and notes (U.S.)
Hedge funds returned 0.4% in October, according to HFR: Hedge funds in positive territory in October, says HFR
How technology can help hedge funds manage their operating expenses: Technology can act as a growth enabler to help hedge funds cope with increased margin pressures
U.S. PE funds’ capital raising reaches record high: Private equity fundraising in the US hits all-time high
Private equity investment model shifting: The shifting nature of private equity
Fidelity launches new funds: Fidelity rolls out four thematic funds
The SEC is looking to make changes to its advertising rule: SEC issues plan to modernize RIA ad rules
News and notes (Canada)
iA announces fund and ETF launches: iA Clarington launches new fund, adds ETF versions of existing funds
CI acquires asset management firm: CI Financial acquires WisdomTree’s Canadian business
Tracking cannabis stocks: Pot indexes to launch this month
ETFs in Canada saw inflows of $3.5 billion in October: Canadian equities ETFs had a ‘stellar’ October
On the pulse – New frontiers in fintech
Improving data security measures: 3 steps banks & credit unions should take as data privacy gets hotter
How active managers can benefit from machine learning: Can machine learning help active managers outperform passive peers?
How fintech will help the “underbanked”: The ‘underbanked’ is the next trillion-dollar opportunity in fintech
Looking at what’s in store for the fintech industry: The future of fintech
Employees must also accept digital transformation: Digital transformation will flop if you don’t also transform staff
Charles Schwab is looking to eliminate forms: Schwab’s plan to kill forms and expand integrations
Selling through messaging platforms: The convergence of messaging apps and payments
Canadian banks take interest in Mylo: Canadian banks invest in spare change app Mylo
What a single digital currency could mean for the finance industry: How worldwide digital currency adoption could change the finance sector
A look at Canadians’ awareness of bitcoin: Bitcoin awareness no guarantee of ownership, finds BOC
High-net-worth topics
The high-net-worth need to protect against debt too: Why ultra-high-net-worth clients need a financial cushion
The total wealth of billionaires fell in 2018: Billionaire wealth declines in 2018
Polls & surveys – What financials are saying
Expect weaker investment returns in the future (JP Morgan): Weak global growth ahead, J.P. Morgan says
Businesses looking to Canada for expansion (HSBC): Foreign businesses eyeing Canada for expansion: report
U.S. advisors are bullish on the industry (Schwab): Advisors are (mostly) upbeat about the future: Schwab
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Monday morning briefing – November 4, 2019
VCs may benefit from investing in more women- and multicultural-led companies. Top 10 trends that will impact family offices. A look at how the digital economy is changing real estate. And much more in this week’s briefing.
Economic/industry news
The Bank of Canada held its central interest rate at 1.75%: Bank of Canada holds rates, warns economy will be ‘tested’
The Fed lowered its central interest rate: Fed cuts rates by quarter point while hinting at a policy pause
The U.S. economy grew 1.9% in the third quarter: US GDP rose a better-than-expected 1.9% in the third quarter as consumers continued to spend
Is there an opportunity in alternative fixed income?: Alternative fixed income seen as market opportunity
Competition in the ETF space is fierce: Cutthroat competition has come in the ETF industry
A look at how the digital economy is changing real estate: How the digital economy is reshaping real estate
Global ETF assets rose 2.52% over the third quarter: Global ETF assets extend lead over hedge fund industry to USD2.54 trillion at the end of Q3 2019, says ETFGI
News and notes (U.S.)
It was a tough month for hedge funds, according to Eurekahedge: Hedge funds lag, lose clients in September despite lower fees
Newer hedge funds outperforming their more established counterparts: These hedge funds do better
CFOs’ pay at private companies growing: A look at CEO vs. CFO compensation at late-stage private companies
VCs may benefit from investing in more women- and multicultural-led companies: Morgan Stanley: VCs neglect women and minorities, and it’s hurting returns
Looking to simplify limited partnership agreements: Private equity contracts are expensive and complex. This group wants to change that.
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: October 29 edition
Why investing in a 401(k) is so important: This is the biggest retirement mistake Americans are afraid of
News and notes (Canada)
3iQ gets approval for Bitcoin investment fund: OSC approves Bitcoin investment fund
CIBC launches three fixed income pools: CIBC launches fixed income pools
TD introduces MyTD: TD announces AI-driven advice service
AIMA looks at alternative investment market in Canada: AIMA publishes handbook on Canada’s alternative investment landscape
ICE launches platform to improve standardization and efficiency in an ETF primary market: New platform aims to boost ETF growth
Canadian DB plans advanced 1.6% in the third quarter: Canadian DB plans post 1.6 per cent median return in third quarter: survey
On the pulse – New frontiers in fintech
Combining humans with digital to help customers: Best customer experience in banking blends digital with human touch
How financial services companies can benefit from AI: Unleashing AI’s potential in financial services
Improving conversational AI: Overcoming the barriers to conversational AI
How deep learning can reach its potential: Deep learning is overtaking classic machine learning methods, study finds
FSRA joins the Global Financial Innovations Network: FSRA steps into global sandbox
Looking for a European digital currency: German banks calls for digital euro
Developing policy for crypto assets: IIROC launches crypto advisory group
The International Investment Funds Association (IIFA) releases Cybersecurity Program Basics: IFIC unveils updated cybersecurity guide
CI partners with d1g1t Inc.: CI Financial partners with fintech firm
High-net-worth topics
Top 10 trends that will impact family offices: Family office insights: 10 trends that will affect family offices in 2020
The wealthy are looking for safety in cash: Wealthiest investors are holding more cash says UBS
Polls & surveys – What financials are saying
North American investor confidence fell in October (State Street): Geopolitical turmoil dents investor confidence, State Street says
Interest in responsible investing rising (RIA): Canadians want more support on responsible investing
Even high income earners are struggling financially (TD): Earning power doesn’t necessarily equate to better financial health, survey finds
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Monday morning briefing – October 21, 2019
Digital-only banks succeeding through a robust customer experience. ESG adoption by institutional investors may be slowing. Venture capital mega-deals continue to grow. And much more in this week’s briefing.
Economic/industry news
Canada’s inflation rate was 1.9% in September: Canadian inflation holds steady at 1.9%, core measures inch up
China’s economic growth slowed in the third quarter: China says its economy grew 6% in the third quarter, slower than expected
Retail sales in the U.S. declined: U.S. retail sales dip 0.3% in September
The end of the 60/40 portfolio?: Bank of America says 60-40 portfolios are dead. They’re right
Show a bit of pessimism towards a trade deal: Morgan Stanley tells stock bulls not to kid themselves on trade
The IMF predicts weaker economic growth in 2019: Global conflicts could lead to weakest growth since 2008: IMF
News and notes (U.S.)
The Eurekahedge Hedge Fund Index declined 0.30% in September: Hedge funds down 0.30 per cent in September
A look at hedge funds’ favourite research firms: The research hedge funds want to pay for
Why private markets will continue to flourish: The company of the future is private
How debt financing companies are attracting businesses: How debt financing is adapting to compete with equity financing
VC mega-deals continue to grow: 2019 on pace for another $100B invested as VC exit value tops $200B for the first time [datagraphic]
A look at how much the U.S. green economy is worth: America’s ‘green economy’ is now worth $1.3 trillion
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: October 15 edition
News and notes (Canada)
Waypoint launches liquid alternatives fund: Liquid alternatives: The Waypoint All Weather Liquid Alternative Mutual Fund
Desjardins launches ETF portfolios: Desjardins adds ETF portfolios to its roster
National Bank launches the NBI Unconstrained Fixed Income ETF: National Bank launches fixed-income ETF
Canaccord Genuity expands into Australia: Canaccord Genuity to acquire Australian firm for $23.3 million
Canadian M&A activity down in the third quarter: Mergers and acquisitions slow in third quarter: report
Michael Lee-Chin discusses the challenges impacting advisors: Adapt or become irrelevant, Lee-Chin warns advisors
On the pulse – New frontiers in fintech
Using technology to focus on consumer engagement: Digitizing banking is all about engagement and CX, not ‘tech’
Digital-only banks succeeding through a robust customer experience: Look to your customers for the key to banking success
Searching for innovative new technology: Where do incumbents look for game-changing innovation?
Canadians’ use of fintech on the rise: More Canadians using fintech, in spite of privacy concerns
The majority of U.K. financial institutions are using machine learning technology: Machine learning advancing in financial sector – Bank of England
Emerging challenger banks can be found all around the globe: Some challengers really are challenging … but not where you’re looking
Appealing to wealthier millennials: How upscale millennials’ money views impact their banking habits
How to keep up with regulatory change: How to approach modern regulatory change management in financial services
NatWest piloting a fingerprint credit card: Technology-based banking products launched
A look at what technologies are impacting advisors most: 10 female leaders share top tech trends that’ll change your practice
High-net-worth topics
Millennials’ wealth is expected to grow: There are more than 600,000 millennial millionaires in the US, according to report
What a wealth tax could mean for the high-net-worth: Explaining a wealth tax to clients
Polls & surveys – What financials are saying
Preparing portfolios for an economic slowdown (Aviva): Proceed with caution on asset allocation: report
ESG adoption by institutional investors may be slowing (RBC): Survey finds ESG adoption tapering off among institutional investors
There may not be a global recession until 2021 (HSBC): Global recession unlikely until 2021: HSBC
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Tuesday afternoon briefing – October 15, 2019
Hedge funds are moving away from oil. More companies raising private money. U.S. venture capital slowed in the third quarter. And much more in this week’s briefing.
Economic/industry news
U.S. inflation rate steady in September: US consumer prices were unchanged in September, the weakest reading since January
The Canadian unemployment rate fell in September: Canada’s job market produces another surprise gain in September
Progress was made on a U.S.-China trade deal: U.S., China reach partial trade deal, boosting market back near-record highs
The Fed will buy short-term T-bills: Fed to buy Treasury bills in effort to control lending rates
Interest in money markets rising: Investors are flocking to money markets at the highest rate since the financial crisis
A look at EBITDA for private companies: Why EBITDA is just BS
More companies raising private money: The changing landscape of public and private equity investing
New indexes to track megatrends: MSCI launches megatrends indexes
News and notes (U.S.)
Hedge fund industry returns declined 0.11% in September: Hedge funds see two consecutive months of negative returns, says eVestment
Hedge funds moving away from oil: Column: Hedge funds turn bearish on oil as economy slows
Add-ons a growing portion of U.S. PE buyouts: This year could set another record for US PE add-on activity
Retirement portfolios can benefit from private equity: Private equity a must for retirement portfolios, Panel Argues
A new asset class?: The hot new alternative investment: Lego?
Stephen Schwarzman comments on job loss study: Stephen Schwarzman on the key ‘flaw’ in the private equity job loss study
U.S. venture capital slowed in the third quarter: Venture Capital – Unicorn blood on the street
Fidelity offers free trading: Fidelity joins price war with zero commissions
News and notes (Canada)
The impact of fund-of-funds on the ETF industry: How fund-of-funds could be puffing up Canada’s ETF industry
VC investment in Canada continues to rise: Canadian VC investment hits record in Q3
Advisors satisfied with their brokerages: Where the industry is succeeding, and falling short
A look back at Canada’s first year of legalized marijuana: The good, the bad and the ugly from Canada’s first year of legal pot
On the pulse – New frontiers in fintech
A look at what’s ahead for fintech: What’s next for fintech growth?
Customers are concerned about using voice-assisted technology for bank transactions: Insurers and banks face battle to overcome security fears over voice-assisted tech
Consolidation in fintech expected to continue: More fintech consolidation expected after Broadridge’s Fi360 purchase
How to improve onboarding: Two ways to quickly elevate your financial institution’s onboarding
Companies start abandoning the Libra project: Facebook’s Libra loses Mastercard, Visa in cascade of exits
An in-depth look at the term “challenger”: What does the term ‘challenger’ really mean?
Digital asset firms must comply with AML rules: Digital assets face anti-money laundering rules too
Another bitcoin ETF rejection: SEC rejects Bitwise Bitcoin ETF
RBC looking to help address climate change: RBC backs AI-based climate change research
High-net-worth topics
The high-net-worth are looking to protect their wealth: Long-term planning can help allay Canadian investors’ concerns for the future
A look at how the high-net-worth are investing: Tiger 21 Founder addresses macroeconomic concerns for high-net-worth investors on CNBC Europe
Polls & surveys – What financials are saying
Many investors see a recession ahead for the U.S. economy (E-Trade): Bearish investors say US economy has peaked: E-Trade survey
Canadians are looking for retirement help (HOOPP): 80% of Canadians would take pension over salary hike: Poll
Those working with an advisor feel more prepared for a recession (CFP): Advisors instill confidence in face of recession
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Monday morning briefing – October 7, 2019
A look at hedge funds’ approaches to Brexit. The benefits and challenges of moving to the cloud. How AI will change the job market. And much more in this week’s briefing.
Economic/industry news
The U.S. unemployment rate hit a 50-year low: September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000
The Canadian economy was flat in July: StatsCan says economy flat in July as oil and gas sector down
More tariffs placed on Europe: U.S. to slap tariffs on European planes, whiskey after WTO ruling
How markets could be affected by an impeachment: What impeachment could mean for U.S. markets
Why now could be the time for alternatives: Is the tide turning for alternatives?
The benefits of investing in farmland: A look at the diversification benefits of farmland investing for pension funds
News and notes (U.S.)
Hedge fund launches rose in the second quarter: Number of new hedge fund launches up for second consecutive quarter
A look at hedge funds’ approaches to Brexit: How the hedge funds are really playing Brexit
Interest in private assets is high and will continue to grow: The unstoppable allure of private assets
A look at the PE middle market during the second quarter: 7 charts illustrating the US PE middle market in 2Q
Vanguard looking to enter the currency trading market: Vanguard to challenge banks’ grip on $6 trillion currency market
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: October 1 edition
The SEC is looking to modernize ETF regulations: The SEC says it’s making ETFs more accessible – here’s what that could mean for investors
More firms move to commission-free trading: TD Ameritrade announces zero commissions in tit-for-tat move
News and notes (Canada)
Purpose to incorporate ESG across all strategies: Purpose announces full ESG integration
National Bank launches green bond: National Bank issues sustainability bond
Canadian pension solvency fell to 98.6% in the third quarter: Canadian DB pension solvency declined in third quarter: surveys
CSA looking to improve its client-focused reforms: CSA introduces revised version of client-focused reforms
Responsible investing important to Canadian institutional investors: Canadian institutional investment pros say RI is important
On the pulse – New frontiers in fintech
A look at some fintech trends you may not already know about: Three overlooked trends in fintech
How to build a personalized experience: Secrets to building one-to-one digital experiences
How AI will change the job market: Artificial intelligence driving the next generation of jobs in the UK
Helping companies trade globally: Banks join forces on digital platform to help firms trade globally
Improving the branch experience: Interactive tech drives bank’s new experiential branch
The benefits and challenges of moving to the cloud: Interview with Bloomberg’s CIO: What’s driving financial services to the cloud?
A look at some examples of industry convergence: Industry convergence: Going beyond business boundaries
Robinhood adding well-known content to its app: Stock trading app Robinhood revamps its newsfeed with the Wall Street Journal and ad-free videos
The cost of fighting climate change: Americans fear climate change and the cost of fighting it
High-net-worth topics
Initiating the wealth transfer discussion between the high-net-worth and their children: How a UBS exec gets families to open up about wealth transfer
Goldman looking to attract the high-net-worth in Europe: Goldman is taking another stab at serving Europe’s rich
High-net-worth millennials believe they may need to work past retirement age: Survey: Many affluent millennials don’t think they can retire by 65
Polls & surveys – What financials are saying
Only 4% of CEO positions are held by women (CSA): Women gain share of board seats but not executive roles
Many Americans are concerned about their finances (NAPFA): Americans in need of some good financial advice: survey
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Monday morning briefing – September 30, 2019
People want more ESG transparency by companies. Fintech firms facing challenges finding good talent. The high-net-worth are raising cash levels. Can a passive player enter the PE space? And much more in this week’s briefing.
Economic/industry news
U.S. GDP growth confirmed at 2.0%: Second-quarter U.S. GDP left at 2%, slower economic growth seen persisting
Signs may point to an economic slowdown: Is the end of economic expansion near?
People want more ESG transparency by companies: Pressure piling on for companies to provide ESG disclosure
The trade war is the biggest threat to global economic growth: Lagarde says trade main global growth risk, recession unlikely
Why asset managers need to consider alternative investments: Asset managers must adapt to democratization of alternatives
A look at how much should be allocated to alternative investments: Here’s how much financial advisors should invest in alternatives to make a difference
Is there a future for non-transparent ETFs?: Non-transparent ETFs … a glimpse into the future?
News and notes (U.S.)
Global hedge funds experienced redemptions in August: Investors have pulled $63 billion from hedge funds this year – but these strategies are raking in cash
Many hedge funds are negotiating their management fees: Almost 39 per cent of hedge fund managers willing to negotiate management fees, says report
Can a passive player enter the PE space?: Why private equity is ripe for Vanguard-style disruption
The PE space will continue to expand: Research suggests there’s no stopping the private-equity train
Transitioning from Washington to PE: Politicians continue push into PE
Participation rate in retirement plans on the rise: Retirement Plan Sponsors report record 83% participation rate
Morningstar concerned about public availability of private investments in retirement plans: Don’t relax private investment regs for retirement funds: Morningstar
News and notes (Canada)
Fidelity launches five fixed income ETFs: Fidelity rolls out five fixed income ETFs on TSX
Evolve launches the Evolve Dividend Preferred Share Index ETF: Evolve launches preferred share ETF
Wealthsimple acquires SimpleTax: Wealthsimple expands into tax software with SimpleTax acquisition
What title regulation will mean for Ontario financial advisors: What to expect as title regulation extends to Ontario
Mutual fund and ETF assets rose in August: ETF sales eclipse mutual funds in August, IFIC reports
Canadian asset managers must innovate in a challenging environment: Asset managers must innovate: KPMG
On the pulse – New frontiers in fintech
Visa launches Visa Partner, looking to help fintech firms: Visa opens resource portal for fintechs
Banks must blend the old with the new to thrive: Where banking-fintech partnerships fall short
Developing products your consumers want most: How to build banking products consumers will love
Regtech spending to increase substantially in next five years: Regtech spending to reach $127 billion by 2024, as AI drives cost savings
HSBC introduces system to detect financial crimes: HSBC introduces industry leading financial crime detection systems
Combatting deepfakes: Can AI and blockchain be used in fight against deepfake?
Fintech firms facing challenges finding good talent: UK fintech sector faces talent shortfall
Increasing the use of blockchain: Can blockchain become more accessible?
High-net-worth topics
The top 1% in Canada saw their effective tax rates decline: Tax rates down, incomes up for the 1%
The high-net-worth are raising cash levels: Wealthy families are preparing for a downturn
The high-net-worth should have a plan to handle requests for money: How wealthy people handle requests to give away their money
Polls & surveys – What financials are saying
Investors in mutual funds and ETFs are confident in these products (IFIC): IFIC survey shows strong satisfaction with advisors, fund products
Supersavers are willing to make sacrifices to save more (Principal): These 5 money habits put young workers on track for retirement
Investors interested in sustainable investing, but don’t do it (Schroder): Investors talk the talk, don’t walk the walk, on sustainability
Why people engage with a financial advisor (Merrill Lynch): Top 5 reasons clients turn to a financial advisor: Merrill
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Monday morning briefing – September 16, 2019
Is there a major flaw with internal rate of return? The increasing use of alternative data. The top traits exhibited by leading advisors. And much more in this week’s briefing.
Economic/industry news
The U.S. inflation rate fell to 1.7% in August: Cheaper gas puts a cap on consumer prices in August, but inflation appears to be rising, CPI shows
The ECB lowered its central interest rate to -0.50%: ECB cuts key rate for first time since 2016 as recession fears grow
OPEC should be closely monitoring demand, along with supply: Where does OPEC+ go from here?
Could there be changes to the U.S. capital gains tax?: Trump to revisit capital gains tax cut in White House Meeting
Will value investing bounce back?: Value investing’s heady days aren’t coming back, study says
Fixed income continues to attract significant ETF flows: Global ETF flows continue to favour fixed income in August: ETFGI
News and notes (U.S.)
A look at the hedge fund industry in August: State of the industry – August, 2019
The Eurekahedge Hedge Fund Index rose 0.31% in August: Hedge fund managers up 0.31 per cent in August
The increasing use of alternative data: Hedge funds plan to pour more money into alternative data
PE drawdown rates are still slow: Despite an active PE industry, drawdown rates have remained slow since 2012
Dry powder continues to rise: Alternative investment managers still building up dry powder
Is there a major flaw with internal rate of return?: The faulty metric at the center of private equity’s value proposition
Bitcoin ETFs could still be a bit away: SEC’s Clayton still troubled by potential manipulation of bitcoin prices
Directors and senior officers are selling shares: Insiders at US firms are selling shares at fastest pace since 2007
News and notes (Canada)
RBC launches five U.S. single-factor ETFs: RBC iShares expands lineup of factor ETFs
Stone Asset Management launches PTF: Stone Asset Management announces platform-traded fund
Why family businesses are important for the Canadian economy: Canada’s economy dependent on family businesses: report
Canadian pension assets grew 5% in the first quarter: Pension assets surged in Q1, StatsCan says
The Canada Pension Plan is opening an office in San Francisco: CPPIB opening San Francisco office, hiring head of VC funds
Canada’s first Pay Equity Commissioner announced: Canada now has a federal pay equity commissioner
On the pulse – New frontiers in fintech
Why banks should embrace and partner with fintech: Fintech and banks: collaboration or competition?
Using AI to fuel deposit growth: How banks and credit unions can grow deposits with AI
AI should complement the human process: Where the AI rubber hits the banking road
The need to enable open banking in Canada: Feds must act on open banking, senators say
How banks can attract Millennials: What millennials want from banks & credit unions
Small investment firms have cybersecurity deficiencies: Small firms less prepared for cyber risks: report
Morningstar launches Goal Bridge: Morningstar launches new goal-based advisor software
JPMorgan Chase helping small businesses with cash flow: JPMorgan Chase introduces same-day deposits for merchants
Issuing bonds through blockchain: Santander launches the first end-to-end blockchain bond
High-net-worth topics
The high-net-worth should stay invested in U.S. equities, according to Goldman: Goldman manager tells rich clients to put American stocks first
Canadian high-net-worth are focused on preserving their wealth: Canada’s wealthiest shifting focus toward future-proofing
TD launches new alternative fund for high-net-worth clients: TD Asset Management adds alternative fund
Polls & surveys – What financials are saying
60% of investors believe board diversity is important (ISS): Most investors support climate disclosure, board diversity, ISS finds
Expect slower growth for Canadians’ wealth (Investor Economics): Canadians’ wealth declines for first time since 2008
The top traits exhibited by leading advisors (Nationwide): 4 things successful advisors do differently: Nationwide
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing – September 9, 2019
Helping smaller clients with their financial planning needs. Private equity firms are taking an interest in physician practices. Four phases of a successful digital transformation. It’s time to listen to the lesser known managers. And much more in this week’s briefing.
Economic/industry news
The BoC held its central interest rate steady at 1.75%: Bank of Canada balks at joining global rate-cutting trend
The Canadian unemployment rate was unchanged at 5.7% in August: Canada sees jobs surge in August with 81K new positions
The U.S. unemployment rate was 3.7% in August: U.S. creates just 130,000 news jobs in August, keeping Fed on track to cut rates
Manufacturing states suffering from trade uncertainty: Trump’s trade war inflicts pain on manufacturing states
What happens if the global consumer stops spending?: Trade-war damage piles weight of global economy onto consumers
Assets under management fell for the world’s largest pension funds in 2018: World’s largest pension funds’ AUM decreased in 2018
Fund costs will impact Morningstar’s analyst ratings: How Morningstar’s new ratings reality will affect funds, ETFs
BlackRock’s outlook for the Canadian economy in the fourth quarter: Outlook for final quarter of 2019
News and notes (U.S.)
Time to listen to the lesser known managers: With Sohn Conference bets, pay attention to the no-name managers
PE firms are taking an interest in physician practices: Why are PE firms hot for physician practices?
How the biggest VCs are investing: Breaking down early- and late-stage deals for the top 20 US VC investors (datagraphic)
Why 401(k) sponsors must understand mutual fund fee structures: Fiduciary responsibility and mutual fund fees
ACI to launch five active ETFs: American Century to launch five active equity ETFs under new Avantis banner
Investing in an NBA team: NBA considers vehicle to bring new investors to soaring team values
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: September 3 edition
News and notes (Canada)
Dynamic launches the Dynamic Credit Absolute Return II Fund: Dynamic Funds launches fourth liquid alternative offering
Waratah launches the Waratah Alternative Equity Income Fund: Waratah Capital launches liquid alternative mutual fund
FP Portfolios launches new ETF: Firm launches ETF alternative to structured products
Canadian ETF assets rose to $186 billion in August: Canadian ETF inflows hit $2.7B in August
Banking leaders are set to adapt to the changing financial landscape: Big bank CEOs talk lower rates, living in ‘unprecedented times’
First-time homebuyers believe new incentive plan may be helpful: First-time homebuyers optimistic about new government incentive: poll
On the pulse – New frontiers in fintech
A look at how fintech is changing the financial services industry: 5 ways fintech is reshaping the financial services industry
Three best practices to help banks become leaders in personalization: How banks and credit unions can take the lead in personalization
Four phases of a successful digital transformation: We just haven’t got a clue what to do!
How AI can help back-office functions: The future of finance is powered by artificial intelligence
Understanding the ethics of AI: Filtering the ethics of AI
A look at five industries being transformed by AI: AI predictions: how AI is transforming five key industries
Helping smaller clients with their financial planning needs: Bringing financial planning to the masses
Plans for a crypto fund-of-funds for institutional investors: Hedge fund manager plans $1bn crypto fund
High-net-worth topics
The high-net-worth are looking for more than just strong investment performance: For HNW clients, digital convenience is no substitute for a personal connection
Managing the high-net-worth’s digital wealth: What you need to know about managing clients’ digital wealth
Polls & surveys – What financials are saying
Canadian productivity hurt by financial stress (Canadian Payroll Association): 43% of Canadians say financial stress is hurting work productivity: Study
Institutional investors not yet fully adopting ESG (CoreData): Institutional investors yet to fully embrace ESG, says new research
Client expectations are the top challenge for wealth and asset management firms (RBC): Client demands overtake regulation as the top challenge for firms
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Monday morning briefing – August 19, 2019
First vegan ETF set for launch. U.S. household debt hits its highest level ever. Teens prefer fintech to manage their money. Plus much more news in this week’s briefing.
Economic/industry news
The U.S. inflation rate rose to 1.8% in July: Higher gasoline prices, rent boost cost of living in July, CPI shows, but inflation still mild
The U.K. economy contracted in the second quarter: UK economy shrinks for first time since 2012. Brexit could tip into recession
The U.K. unemployment rate rose to 3.9% in June: UK unemployment rate on the rise as fears grow ‘glory years over’
Understanding the 2020 version of GIPS: GIPS 2020: Everything you need to know
Why faith-based investors can benefit from impact investing: GIIN: Why impact investing is a natural fit for faith-based investors
Reconsidering the target-date glide path: Building better target-date fund glide paths
Bond markets still show signs of risk in the global economy: Equities on ‘borrowed time’ as recession signal nears inversion
News and notes (U.S.)
A look at the hedge fund industry in July: State of the industry – July, 2019
The Eurekahedge Hedge Fund Index returned 0.69% in July: Hedge fund managers recorded another positive month in July following strong H1 performance
SEC looking to make changes to alternatives regulation: Opportunities ahead as SEC pushes to modernize alternatives regulation
BlackRock finds first investment for long-term PE strategy: BlackRock begins PE foray with $875M bet on Sports Illustrated backer
A look at the most consistent top performers in the PE space: These private equity managers are the most consistent top performers
CBS and Viacom have agreed to merge: CBS, Viacom enter streaming wars with $30B combination
The first-ever vegan ETF to be launched: World’s first vegan ETF launches next month
U.S. household debt is at its highest level ever: Household debt sets new record: New York Fed
News and notes (Canada)
RBC launches three new ETF portfolios: RBC iShares expands lineup of portfolio ETFs
Invesco introduces investment portfolios: Invesco launches new suite of investment portfolios
CI launches asset allocation ETF: CI launches global asset allocation fund
Will the yield curve inversion force the BoC to lower its central interest rate?: Can BoC ignore blaring yield-curve inversion alarm?
OSC branch sees rise in enforcement referrals: Sales practices, suitability remain concerns for OSC
Canadian ETF assets rose to $183.7 billion in July: Canadian ETF assets continue to advance
On the pulse – New frontiers in fintech
Fintech is moving across many sectors of the economy: How fintech is eating the world
The importance of getting digital banking right: Make digital banking both seamless and secure or consumers will walk
Teens using technology to manage money: Fintech gains favor among teens
Successful automation will require quality data: Reliable data identified as key to successful automation
Securities lending through the use of machine learning: Northern Trust applies machine learning to securities lending
A look at the best fintech startups in Europe: The best fintech startups in Europe
A look at some business uses for blockchain technology: Five blockchain use cases: from property to sustainability
How the insurance industry can adapt to the future: How can the insurance industry face its challenges?
Another delay to the decision on a Bitcoin ETF: Bitcoin ETF decision delayed by SEC again
High-net-worth topics
Wealthsimple partners with Grayhawk to access the high-net-worth market: Wealthsimple announces partnership, looks to attract high-net-worth investors
How to transfer wealth: The art of transitioning wealth
Polls & surveys – What financials are saying
Asset managers believe a recession is on the horizon (Bank of America): Recession fears spike to 2011 high as risk of bubbles spreads
Generation Z may need some guidance on managing money (Northwestern Mutual): Gen Zers lack clarity on how to handle money, study says
Caring for elders is putting financial strain on Canadians (Angus Reid): Canadian caregivers worry about financial burden
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Monday morning briefing – August 12, 2019
The top fintech trends for 2020 that you need to know. Taking a long-term view of the hedge fund industry. Geopolitics will hurt some emerging markets countries. And much more in this week’s briefing.
Economic/industry news
Canada’s unemployment rate rose to 5.7% in July: Canada loses over 24,000 jobs in July, but wage growth reaches highest level since 2009
The U.K. economy contracted in the second quarter: Recession fears grow as UK economy shrinks on back of Brexit chaos
Chinese exports rose in July: China exports rise despite simmering US trade row
Could the U.S. consumer be the biggest loser in the trade dispute?: The real cost of Trump’s trade wars
Avoiding firms that pose climate risks: Big money starts to dump stocks that pose climate risks
Portfolios with less risk are more expensive: BlackRock: Least risky portfolios are most expensive
Has bitcoin become a safe haven asset?: Bitcoin joins the ranks of ‘safe haven’ assets
News and notes (U.S.)
Hedge funds’ net leverage shrinking: Hedge funds turn most bearish since 2016, hone long stock bets
Hoplite Capital to close its funds: Hedge fund Hoplite Capital plans to shut down – letter
Taking a long-term view of the hedge fund industry: Largest hedge fund advisers taking a long-term view on business, says new study
PE having a larger presence in the M&A market: PE’s prominence in the M&A scene continues to grow
PE carefully deploying cash towards deals: The private equity conundrum: More cash, fewer deals
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: August 6 edition
Most expensive real estate markets are seeing a decline in home prices: Home prices decline in some of the costliest markets in the U.S.
News and notes (Canada)
Sun Life to offer a sustainability bond: Sun Life to issue sustainability bond
Geopolitics impacted RRSP season in Canada: ‘RRSP season was the worst in a decade’
Requesting that GST/HST be removed from mutual funds in RRSP accounts: IFIC calls for end to federal sales tax on mutual funds in RRSPs
Total assets in Canadian ETFs was just shy of $184 billion in July: July sees $1.8 billion in ETF inflows
A look at the fund industry’s contribution to Canadian GDP: Canada’s fund industry fuels 1.7% of GDP, IFIC reports
On the pulse – New frontiers in fintech
The top fintech trends for 2020 that you need to know: Top 5 fintech trends that will dominate 2020
A look at how fintech could impact the banking industry: The fintech revolution: Who are the new competitors in banking?
Improving customer satisfaction through digital innovation: Financial institutions must become digital innovators
Data and analytics will benefit asset managers: Technology key to future success of asset managers: report
Customer trust and understanding to propel open banking forward: Why open banking is about to have its coming of age
U.S. regulators need to shift focus from penalties to prevention: US regulators need data breach prevention focus
Some business uses for virtual and augmented reality: VR is ahead for now, but AR will be a larger market in the long run
The Apple credit card is almost upon us: Apple readies for credit card launch
Why Canada needs to spread tech jobs across different cities and regions: Is Canada heading for a two-tier digital economy?
High-net-worth topics
Wealthy investors are decreasing their allocation to stocks: These wealthy investors are trimming their stock holdings
The wealthy are adopting mobile technology for their investing needs: Interest in digital tech growing among wealthy investors: Morgan Stanley poll
The mansion tax could spread across the U.S.: ‘Mansion tax’ could sting your wealthy clients
Polls & surveys – What financials are saying
Diversity in hiring at alternative firms lagging (Jensen Partners): Investors complained. Are alts firms listening?
Majority of hedge fund managers are not incorporating ESG strategies (BarclayHedge): More than half of hedge fund managers still not considering ESG: survey
Geopolitics will hurt some emerging markets countries (S&P): S&P: Risks for emerging markets loom despite looser Fed policy
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Tuesday morning briefing – August 6, 2019
Activist investors from the U.S. having an impact in Europe. IT attracting one-fifth of all U.S. private equity investment. Some thoughts on keeping data clean. And much more in this week’s briefing.
Economic/industry news
The Fed reduced its central interest rate: Fed cuts key rate, pledges to sustain expansion
Economic growth in Europe slowed in the second quarter: Euro zone second-quarter growth halves, inflation slows despite jobless at 11-year low
The Bank of Japan held its central rate steady at -0.10%: Bank of Japan commits to easing further if inflation sputters, keeps policy steady
BoE held its central bank rate steady at 0.75%: Bank of England cuts UK growth forecast
Taking a proactive approach with company management to follow ESG values: Turning a light on company behavior
Some asset classes that may help your portfolio: Assets to consider when traditional diversification fails
Fixed income ETFs should continue to see robust growth: ETF product trends to watch
Sustainable funds having a strong 2019 so far: Sustainable funds are winning at halftime, says Morningstar
News and notes (U.S.)
Hedge funds recorded a positive month in June: Hedge funds up 1.75 per cent in June
Element Capital increases performance fee: Top hedge fund sets 40% performance fee as assets hit $18bn
Activist investors from the U.S. having an impact in Europe: US activist investors’ aggressive strategies are starting to force change in Europe
Helping small businesses land even bigger government contracts: With PE backing, government contractors strive for bigger awards
IT attracting one-fifth of all U.S. PE investment: For the fifth straight year, PE’s appetite for IT continues to grow
A look at the top-performing PE fund of funds: These are the best performing funds of funds in private equity
Goldman Sachs to expand its business in South Africa: Goldman Sachs bets on South Africa’s strong economic growth
News and notes (Canada)
Emerge launches actively managed thematic ETFs: Emerge launches five ETFs
New CI fund to invest in high-interest savings accounts: CI launches high interest savings fund
Number of deals and funding of VCs fell in the first half of 2019: Canadian VC funding down in H1: Report
Canadian DB plans experience a positive return in the second quarter: Canadian DB plans post median 2.5% return for Q2
Canadian small business confidence declined in July: Small biz optimism drops in July
On the pulse – New frontiers in fintech
Digital transformation can ward off potential threats: The case for transforming banking (even when profits are strong)
A look at how financial advisors are benefiting from fintech: How advances in fintech are helping financial advisors
Why banks should be adopting AI now: Building an AI-powered financial institution
Keeping your data clean: How clean is your data?
Sorting through randomness: Facebook AI research is a game-changer
Helping small businesses with electronic payments: Mastercard and SumUp team to bolster SME offering
A look at a few fintech firms and how they are succeeding: Three global fintech innovations that created real value
Why the Fed should be looking at faster payments: Go slow on Libra. Speed up on faster payments.
Investing in drone technology: Retail investors interested in drone technology can now invest in it
High-net-worth topics
How the high-net-worth can discuss their estate planning: Heirs of HNW families in the dark on family wealth decisions
When is the best time for the high-net-worth to transfer their wealth: Dead or alive: When is the right time to transfer wealth?
The wealthy value their privacy: 10 ways the wealthy buy privacy
Polls & surveys – What financials are saying
Are those with a lower level of assets receiving financial planning information? (OSC): Many investors receive little advice for fees, survey finds
Eight out of 10 financial advisors are bullish on U.S. equities (NDR): Financial advisors remain upbeat about economy, markets
Financial advisors are getting younger (TD Ameritrade): ‘Graying trend’ in advisory industry is reversing: FA insight