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...Equity long-short hedge funds have had a miserable decade both in terms of performance and flows. MainFT last week published a very good piece on the theme....
...At around the same time, FTSE Russell changed its recognition of Saudi equities, moving them into the FTSE Global All Cap index — a popular global equity index....
...In another test, S&P looked at US mutual funds....
...“The big keep getting bigger,” said Peter Oppenheimer, Goldman’s chief global equity strategist and head of macro....
...from an NFL-focused fund, as opposed to a general sports or other investment vehicle....
...The chart below shows Nomura’s back of the envelope estimate of the combined growth in assets across select options-selling open-ended investment funds....
...The investor group also includes private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017....
...However, on November 1, S&P Dow Jones Indices stripped Nigeria from the S&P Select Frontier index that the ETF tracks at a “zero-price”....
...equity funds....
...“PE compensation is predominantly derived from the P&L of the firm — which is based on the management fee of the fund, and this is locked in for the life of the fund,” said Tom Thackeray, a partner at Heidrick...
...Using ETF fund data from etfdb.com and equity market data from www.cboe.com, I calculated rebalancing flows for all US equity L&I ETFs on this day to be just over US$20 billion of equities sold, representing...
...The S&P 500, for reference, returned 189 per cent in the same period....
.../book and a p/e ratio of 9 times next year’s earnings in China....
...The writer is a former global head of asset allocation at a fund manager This year has been marked by strong equity markets, and what looks to be an astonishingly narrow rally....
...The biggest offender I could find is the L&G Tracker Trust CTF, which launched in 1999 and in 2023 still has an eye-watering ongoing charge of 1.56 per cent for the £1.3bn invested in the fund....
...The P/B ratio measures the market value relative to its book value....
...In many banking crises of the past, the Financial Select Sector SPDR Fund, or XLF ETF, has been a proxy way to gain or hedge exposure to the US banking sector as it tracked the S&P financials index....
...Blackstone in September became the first private equity group to be included in the S&P 500 index and its rivals Apollo Global and KKR are hoping they are not far behind....
...Because Research Affiliates’ Rob Arnott reckons benchmarks like the S&P 500 can be improved to make better index funds....
...It is starting with 57 index ETFs and mutual funds. Its flagship S&P 500 fund, SPY, the world’s largest with $431bn in assets, is not eligible because of rules surrounding its structure as a unit trust....
...JPMorgan’s equity analysts are among the haters....
...Vanguard said it was still analysing the likely impact on its funds, but added that “GICS changes will have little impact on investors in broadly diversified equity funds, like Total Stock Market Index or...
...“For all the brash headlines, away from a couple sectors and a select group of stocks, markets haven’t done much”, said Peter Tchir, head of macro strategy at Academy Securities....
...If a fund manager says: “I am going to add private equity to my equity fund and guarantee you an extra return,” the strategy won’t get off the ground. The regulators will stop it....
...Equity funds that track the make-up of the major indices, such as the FTSE 100 index of UK shares or the S&P 500 index of US equities, are widely available and cheap — they typically charge below 10 basis...
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