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...Flows to active US exchange traded funds have surged past previous records for both monthly and quarterly hauls, helping to drive assets held in the vehicles above $750bn at the end of March....
...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...
...Another merger, between Troy Asset Management’s Income & Growth Trust and STS Global Income & Growth Trust, was also announced on Tuesday....
...The problem comes in how these investments are accessed to fund the monthly withdrawal....
...of its short-dated fixed income and money market funds....
...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)...
...Fidelity leads the pack of managers with the most conversions at 12, followed by JPMorgan with eight and Dimensional Fund Advisors with seven, Morningstar Direct data shows....
...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....
...Advisers are more apt to direct people into things that are exchange traded,” says Robin Foley, head of fixed income at Fidelity....
...When withdrawals breached monthly limits in December 2022, it gave the group the right to partially “gate” the fund....
...“People definitely mistake the UK market for the UK economy,” says Alex Wright, manager of the £3bn Fidelity Special Situations fund....
...“The concentration of the UK market is pretty high,” says Fidelity International investment director Tom Stevenson....
...Global, flexible investment, infrastructure, UK equity income and UK smaller companies were the most popular sectors among those who did buy....
...Mainstream investors like Fidelity, T Rowe Price and BlackRock are also exposed. Read more on the options open to ByteDance’s US investors....
...A further interesting structured product comes from the provider Tempo and is called the Long Income Plan. This delivers a high level of quarterly income for at least three years....
...AllianceBernstein has launched five new exchange traded funds, including a buffered ETF, bringing the company’s year-old line-up to 12 ETFs....
...Andrew Duff, 75, a British former Liberal Democrat MEP, said his monthly income from the scheme had fallen from just over €3,600 to €1,800....
...The SoFi Weekly Income ETF (TGIF, or “thank God it’s Friday”), was liquidated in February....
...Other large firms that have refashioned mutual funds as ETFs include JPMorgan Asset Management and Fidelity. JPMorgan Asset Management launched its first ETF a decade ago....
...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...
...But pension managers typically want long-term and guaranteed income to fund payouts to retirees, so Perenna will have to carefully manage the terms of its bond issuance to balance meeting investors’ demands...
...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....
...They have the talent, technology, knowhow and done this before in other fixed income markets like US Treasuries....
...November’s outsized inflows more than reversed the cumulative $8.7bn of outflows from high-yield fixed income ETFs that occurred between August and October....
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