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...The $27.2bn in flows garnered by active ETFs in March soared above previous monthly high water marks of $20.7bn, $17.6bn and $14.7bn, which were set in February, January and December, respectively....
...In the US, where ETFs have tax advantages over mutual funds, helping fuel their growth, JPMorgan’s Equity Premium Income ETF (JEPI) alone is almost as large as the entire European active ETF market, with...
...Bank of America’s latest monthly survey, published on Tuesday, found that fund managers remain net 27 per cent underweight in the UK, and have been consistently underweight since July 2021....
...of its short-dated fixed income and money market funds....
...“The concentration of the UK market is pretty high,” says Fidelity International investment director Tom Stevenson....
...Fidelity includes Royal London Short Duration Global Index Linked Fund M Inc in its “Select 50” list of recommended investments, saying: “The loans are made over short periods (under five years usually)...
...Advisers are more apt to direct people into things that are exchange traded,” says Robin Foley, head of fixed income at Fidelity....
...That is welcome news for asset managers with large money market businesses, such as Fidelity, Vanguard and JPMorgan....
...“People definitely mistake the UK market for the UK economy,” says Alex Wright, manager of the £3bn Fidelity Special Situations fund....
...In 2022, net demand reached an all-time high of £474mn....
...When it came to fixed-income funds, performance was a little better over one year, but not over 10: 95 per cent of UK government bond funds had underperformed their benchmark....
...Gold funds accounted for the bulk of this, shipping $13.5bn, the second-worst tally ever, while broad commodity vehicles shed $3bn, an all-time high....
...US funds, family offices and asset managers are increasing gold’s allocation within their portfolios to 10-15 per cent, up from 5-7 per cent, says Habluetzel of Degussa....
...For example, a bank will go to a third-party brokerage like Fidelity and ask it to find customers for a large block of high-yielding certificates of deposit....
...US money market fund providers — such as Fidelity, Vanguard and Charles Schwab — collectively earned $7.6bn in fees in 2023 as assets passed $6.3tn, according to government figures....
...Mainstream investors like Fidelity, T Rowe Price and BlackRock are also exposed. Read more on the options open to ByteDance’s US investors....
...Alex Wright, who manages Fidelity International’s UK Fund, says he often looks for like-for-like comparisons between UK stocks and roughly equivalent stocks from elsewhere, where the UK half of the pair...
...Martin says there has recently been more interest in long-term fixed income products, where attractive rates can be locked down....
...Ben Whitmore, whose funds include the £2.1bn Jupiter UK Special Situations Fund and the £1.6bn Jupiter Income Trust, is leaving at the end of July to set up his own firm....
...Wood says: “If you own an open-ended fund, it’s a good time to be switching to the equivalent investment trust.” He gives the example of the Fidelity European Fund and Fidelity European Trust....
...Pension funds and wealth managers are already investing less of their funds in stocks, attracted instead by the high interest on offer from money market funds and bond holdings....
...Meanwhile, Fidelity recommends that for an experienced investor with a £100,000-plus portfolio, anywhere between 10 and 15 funds is more than enough....
...Bank of America’s monthly poll, published on Tuesday, showed that in November fund managers had the biggest bet on rising bond prices since 2009....
...This is why you’re seeing more traditional asset managers like Fidelity and Capital Group launch more ETFs or convert existing mutual funds into them....
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