Breaking news & analysis on the fund management/manager research industry for gatekeepers & investors
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“I think there is a lot of misperception; people hear the word 'value,' and they immediately think a sacrifice in quality…A misperception of not only quality but also the marriage of value and . I think that’s really, at the heart of this, where the opportunity is.”
Brown Advisory ’s Michael Poggi explains the opportunity for analysis within value investing ➡️https://ow.ly/Ypex50P61cp
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What's the key to buildAGF Investmentsle future? Find out: https://ow.ly/MFNE50P9yJF
Sustainable investing offers many opportunities but investors must be willing to think critically and remain disciplined, says AGF Investments's Martin Grosskopf
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In this week's Lowedown, Ashley spoke to Rusty Vanneman, CIO of Orion: https://citywire.com/pro-buyer/news/keep-it-simple-orion-cio-reveals-the-best-and-worst-parts-of-his-job/a2421136?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Welcome to the Lowedown with me, Ashley Lowe, head of audience development for Professional Buyer. I'm bringing you a quick-fire Q&A with one of the many gatekeepers I've been meeting with across the country. Enjoy!
With the S&P 500 up nearly 17%, and the Invesco RAFI 1000 ETF (PRF) underperforming it by 10 percentage points, Research Affiliates CEO Chris Brightman sees an opportunity.
John Coumarianos writes: https://citywire.com/pro-buyer/news/research-affiliates-ceo-rafi-should-outperform-for-next-five-years/a2421353?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
With the S&P 500 up nearly 17%, and the Invesco RAFI 1000 ETF (PRF) underperforming it by 10 percentage points, Research Affiliates CEO Chris Brightman sees an opportunity.
Brinker has added some third-party subadvisors and internal gatekeepers to numerous strategies on its 10-piece lineup of subadvised Destinations funds.
Will Schmitt has the details: https://citywire.com/pro-buyer/news/brinker-gatekeepers-add-state-street-william-blair-to-destinations-funds/a2421231?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
The firm has added its CIO and another senior gatekeeper to all 10 funds in the lineup
The consultant's 2023 Global Asset and Wealth Management report anticipates increased consolidation as firms grapple with ‘existential’ pressures.
Christopher Johnson writes:
The consultant's 2023 Global Asset and Wealth Management report anticipates increased consolidation as firms grapple with ‘existential’ pressures.
In a wide-ranging, exclusive interview with Fox Business last Wednesday, the head of BlackRock laid out why bitcoin is the future.
Will Schmitt has the story: https://citywire.com/pro-buyer/news/blackrocks-larry-fink-makes-case-for-bitcoin-revolution/a2421111?utm_source=social&utm_medium=facebok&utm_campaign=pb-daily-news
In a wide-ranging, exclusive interview with Fox Business on Wednesday, the head of the world's largest asset manager laid out why bitcoin is the future.
Recent research suggests that the small-cap effect might not be as reliable as previously thought.
John Coumarianos writes: https://citywire.com/pro-buyer/news/3-does-size-still-matter-a-modern-look-at-the-small-cap-effect/a2421034?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Recent research suggests that the small-cap effect might not be as reliable as previously thought.
See which portfolio managers were on the go in June.
Will Schmitt writes: https://citywire.com/pro-buyer/news/1-junes-manager-moves-exits-at-blackrock-wellington-and-more/a2421019?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
See which portfolio managers were on the go in June.
Sustainable & Impact Investing - find out how to make Good Gains 👉https://ow.ly/K9hh50P6nWw
A boom for traditional energy stocks has put a dent in the performances of sustainable investment strategies. But few can deny that assessing all the material risks and opportunities makes good financial sense. As a growing band of investors seek to do well, the party gathers strength, as we explore in this issue of Citywire’s Due Diligence Report.
AAGF InvestmentsBBrown AdvisoryPPictet GroupShelton Capital Management
The two top gatekeepers at Ategenos Capital, a start-up staffed by expats from Brinker Capital, have revealed their initial manager research focus in an interview with Citywire.
Will Schmitt writes: https://citywire.com/pro-buyer/news/ategenos-capital-reveals-initial-manager-research-focus/a2420261?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
The new firm is led by ex-Brinker gatekeepers Amy Magnotta and Jeff Raupp.
Investors poured $70.7bn into ETFs in June, the best monthly showing for the vehicle since October 2022, according to estimates released by Morningstar this week.
Will Schmitt writes: https://citywire.com/pro-buyer/news/etf-flows-roar-back-with-over-70bn-in-june/a2421037?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
No June gloom for ETFs, as June's net inflows were roughly double those in April and May.
David Stevenson argues that the MSCI EM index is being dragged down by dead weight China holdings, and suggests an alternative set of single-country ETFs for investors seeking more diversified emerging markets exposure.
https://citywire.com/pro-buyer/news/a-next-12-alternative-to-the-msci-emerging-markets-index/a2421043?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
David Stevenson argues that the MSCI EM index is being dragged down by dead weight China holdings, and suggests an alternative set of single-country ETFs for investors seeking more diversified emerging markets exposure.
In a wide-ranging, exclusive interview with Fox Business on Wednesday, the head of the world's largest asset manager laid out why bitcoin is the future.
Will Schmitt writes: https://citywire.com/pro-buyer/news/blackrocks-larry-fink-makes-case-for-bitcoin-revolution/a2421111?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
In a wide-ranging, exclusive interview with Fox Business on Wednesday, the head of the world's largest asset manager laid out why bitcoin is the future.
Large-scale asset management firms are rushing to re-file their applications for the highly sought after crypto product after the SEC indicated that previous filings were insufficient.
James King writes: https://citywire.com/pro-buyer/news/fidelity-others-rush-to-re-file-for-spot-bitcoin-etfs/a2420694
Large-scale asset management firms are rushing to re-file their applications for the highly sought after crypto product after the SEC indicated that previous filings were insufficient.
See which portfolio managers were on the go in June.
via Will Schmitt: https://citywire.com/pro-buyer/news/junes-manager-moves-exits-at-blackrock-wellington-and-more/a2421019
See which portfolio managers were on the go in June.
Requests in June to withdraw money from the $68bn Blackstone Real Estate Income Trust (BREIT) dropped to their lowest level so far in 2023.
Will Schmitt has more: https://citywire.com/pro-buyer/news/demand-drops-for-breit-redemptions-in-june/a2421000
A shareholder notice indicates that the fund's collective redemption demand at its lowest in months.
Recent research suggests that the small-cap effect might not be as reliable as previously thought.
John Coumarianos writes: https://citywire.com/pro-buyer/news/does-size-still-matter-a-modern-look-at-the-small-cap-effect/a2421034?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Recent research suggests that the small-cap effect might not be as reliable as previously thought.
Citywire honored excellence in asset management service by hosting its first Citywire Professional Buyer Service Awards. In attendance were investment researchers, sales heads, marketing teams and asset management media agencies. https://citywire.com/pro-buyer/news/citywire-pro-buyer-service-awards-photo-gallery/a2420103?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Citywire honored excellence in asset management service by hosting its first Citywire Professional Buyer Service Awards. In attendance were investment researchers, sales heads, marketing teams and asset management media agencies.
We examine the sustainability credentials of top-rated companies in the carbon-intensive steel production industry: https://citywire.com/pro-buyer/news/green-steel-how-three-aaa-rated-producers-are-tackling-emissions/a2416347?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
We examine the sustainability credentials of top-rated companies in the carbon-intensive steel production industry.
Top managers have piled into AAA-rated renewable energy and electricity distribution utility Iberdrola ahead of what could prove a multi-decade growth run.
Top managers have piled into AAA-rated renewable energy and electricity distribution utility Iberdrola ahead of what could prove a multi-decade growth run.
Lawmakers voted to override a gubernatorial veto to get the law on the books.
Will Schmitt has more:
Lawmakers voted to override a gubernatorial veto to get the law on the books.
MassMutual’s head of manager research, Wale Adedokun, shares what he’s been watching, what he likes in a manager meeting, and one less than ideal encounter.
Welcome to the Lowedown Live with me, Ashley Lowe, head of audience development for Professional Buyer. I'm bringing you a quick-fire video Q&A with one of the many gatekeepers caught up with our recent Chicago Due Diligence Retreat. Enjoy!
Northern Trust Asset Management has named Michael Hunstad as deputy chief investment officer amid a spate of senior changes at the group.
Chris Sloley of Citywire Selector: https://citywire.com/pro-buyer/news/northern-trust-names-global-equity-chief-as-deputy-cio/a2420604?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Northern Trust Asset Management announces several leadership role changes, which follow a new asset management chief being named earlier this year.
Fidelity has more ETF news this week, and Columbia Threadneedle is opening a small-cap fund that's been closed for more than two years. Learn more in today's fund files from Will Schmitt: https://citywire.com/pro-buyer/news/fund-files-fidelity-plots-more-etf-conversions-columbia-fund-to-reopen/a2420479?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Your daily roundup of the latest fund launches, manager moves and strategy shifts.
Lawmakers voted to override Gov. Roy Cooper’s veto to push an anti-ESG bill across the finish line, the latest state-level action to promote or restrict investment based on environmental, social and governance factors.
Will Schmitt reports: https://citywire.com/pro-buyer/news/north-carolina-becomes-latest-state-to-pass-anti-esg-law/a2420577?utm_source=social&utm_medium=facbeook&utm_campaign=pb-daily-news
Lawmakers voted to override a gubernatorial veto to get the law on the books.
Fidelity Investments this week joined the growing list of large-scale asset management firms to throw its hat in the ring for a spot bitcoin ETF.
James King reports: https://citywire.com/pro-buyer/news/fidelity-files-for-spot-bitcoin-etf/a2420607?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Fidelity joins a long list of firms waiting on SEC approval of a spot bitcoin ETF.
Manager selectors have replaced a subadvisor on the $1.5bn SEI Large Cap Growth fund.
Will Schmitt has more: https://citywire.com/pro-buyer/news/sei-swaps-subadvisors-on-1-5bn-fund/a2420385?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
McKinley's out, Mackenzie's in, per an SEC filing.
Oaktree Capital Management CEO Jay Wintrob plans to step down next year, with the $172bn asset manager naming a pair of successors who will take the reins early next year.
Will Schmitt has the details: https://citywire.com/pro-buyer/news/oaktree-ceo-to-step-down-firm-names-replacements/a2420470?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
The changes atop the $172bn asset manager are expected to take effect in early 2024.
BlackRock opened up Wednesday about its mid-year outlook for the markets.
Will Schmitt writes: https://citywire.com/pro-buyer/news/blackrock-strategists-see-opportunity-in-autos-private-markets/a2420465?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
The $9.1tn asset manager opened up Wednesday about its mid-year outlook for the markets.
ARK Investment Management amended its application for a spot bitcoin ETF on Wednesday, putting it in the top spot for first approval of the highly sought after crypto product.
James King has more: https://citywire.com/pro-buyer/news/ark-takes-the-lead-in-race-for-spot-bitcoin-etf/a2420491?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
ARK Investment Management amended its application for a spot bitcoin ETF on Wednesday, putting it in the top spot for first approval of the highly sought after crypto product.
Portfolio manager changes are happening at BlackRock, Charles Schwab and William Blair.
Get all the details in today's fund files from Will Schmitt: https://citywire.com/pro-buyer/news/fund-files-pm-changes-at-blackrock-charles-schwab-and-william-blair/a2420273?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Your daily roundup of the latest fund launches, manager moves and strategy shifts.
American Century is cutting about 30 jobs, or roughly 2% of its workforce, becoming the latest financial services firm to slash its headcount in 2023.
Will Schmitt reports: https://citywire.com/pro-buyer/news/american-century-layoffs-continue-trend-in-asset-management-biz/a2420388?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Financial firms have cut thousands of jobs already in 2023
Fidelity joins a growing list of large-scale asset managers hoping to launch a spot bitcoin ETF after BlackRock made a similar filing earlier this month.
James King writes: https://citywire.com/pro-buyer/news/fidelity-set-to-file-for-spot-bitcoin-etf-report/a2420383?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Fidelity joins a growing list of large-scale asset managers hoping to launch a spot bitcoin ETF after BlackRock made a similar filing earlier this month.
Due diligence experts open up their playbooks and offer a glimpse into the asset classes they're researching right now.
Watch: https://citywire.com/pro-buyer/news/three-gatekeepers-share-their-top-searches/a2420045?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
Due diligence experts open up their playbooks and offer a glimpse into the asset classes they're researching right now.
Polar Capital on Monday reported spending about $6.4m on ‘termination and reorganization costs’ over the last fiscal year.
Will Schmitt has more: https://citywire.com/pro-buyer/news/polars-legal-bills-spike-after-settling-boutique-lawsuit-with-fpa/a2420260?utm_source=social&utm_medium=facebook&utm_campaign=pb-daily-news
The firm said its operating costs related to 'termination and reorganization' were $6.4m, which includes a recent settlement with FPA.
Citywire honored excellence in asset management service by hosting its first Citywire Professional Buyer Service Awards. In attendance were investment researchers, sales heads, marketing teams and asset management media agencies.
https://citywire.com/pro-buyer/news/citywire-pro-buyer-service-awards-photo-gallery/a2420103?utm_source=social&utm_medium=facebook&utm_campaign=service-awards
Citywire honored excellence in asset management service by hosting its first Citywire Professional Buyer Service Awards. In attendance were investment researchers, sales heads, marketing teams and asset management media agencies.
In an industry that seeks to increase diversity, employee-owned Mesirow fosters an inclusive team that consistently outperforms the market: https://citywire.com/publishing/ddr-us-equities-2023?cw=mesirow&utm_campaign=ddr&utm_medium=social&utm_source=twitter&utm_content=us-equities_usa_2023&client=mesirow_103526-00
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