Hints and tips:
...In the US, the S&P 500 had its best first quarter since 2019. Fixed income funds reported inflows of $42bn and equity funds received $18bn, for total long-term flows of $76bn....
...The S&P purchasing manager’s index, a measure of activity in the private sector, rose to 53.3 in February, up from 52.9 in January and the highest since May 2023....
...“They have built a better mousetrap in terms of having better technology and options across all asset classes,” said Kyle Sanders, equity analyst at Edward Jones....
...“Most asset managers are shrinking and BlackRock has been growing,” said Kyle Sanders, equity analyst at Edward Jones....
...The private equity industry, for example, has not beaten the S&P 500 over the past decade (see here), despite using mountains of leverage. Big fees eat up the extra returns provided by the leverage....
...All right, so for people that don’t know it, Su Zhu and Kyle Davies, they ran this, people called it a crypto hedge fund, it’s not really a hedge fund....
...They are down by more than a fifth this year, underperforming the almost 8 per cent drop for the S&P 500....
...Only eight have outperformed the S&P 500. Healthcare mergers completed last year were among the worst performing, falling by 49 per cent on average among the 44 spac deals concluded in 2021....
...Exploration budgets increased by 35 per cent globally to $11.2bn in 2021, according to a report published in November by S&P Global Market Intelligence....
...BlackRock shares are up 18.5 per cent for the year, and have moved ahead of the 16 per cent rise in the S&P 500....
...The blue-chip US S&P 500 has soared by almost a fifth this year, reaching a new all-time peak this week....
...The stock has climbed 21 per cent this year, outpacing the S&P 500’s 16.7 per cent gain....
...That is well behind the S&P 500 in the US, up over 13 per cent, and even European stocks, up over 12 per cent, as measured by the Euro Stoxx 50 index....
...Over the past year, BlackRock has eclipsed the share performance of rivals in the S&P 500 asset manager index....
...The bumper run compares with a 2 per cent loss for fund managers in the S&P 500. “They’re almost the Amazon of asset management,” said Kyle Sanders, financial services analyst at Edward Jones....
...“Alternatives are still relatively small compared to their overall business but there have been pockets of growth,” said Kyle Sanders, an analyst for Edward Jones....
...The stock is up 13 per cent this year compared with an 8 per cent decline for fund managers in the S&P 500 index of US blue-chips....
...BlackRock’s share price has fallen 12 per cent this year, less than the broader US stock market and half the 25 per cent drop for asset managers in the S&P 500....
...“For BlackRock, it’s a way to offset the 3 basis points [charged by] an ETF,” said Kyle Sanders, an analyst with Raymond James....
...Australia’s benchmark S&P/ASX 200 stock index was up 1.3 per cent on Monday, handily outstripping any equity gains seen elsewhere in Asia-Pacific. The Australian dollar was also higher....
...Top prize went to the $607m Fidelity Advisor Series Growth Opportunities fund managed by Kyle Weaver, which delivered a 17 per cent return....
...Samsonite International, the luggage maker, has appointed Kyle Gendreau as its new chief executive following the resignation of Ramesh Tainwala....
...Shares in Wells, which underperformed the S&P 500 financial index by 8 per cent last year, were down 0.6 per cent by afternoon trading in New York....
...Hayman Capital’s Kyle Bass, whose fame rests on his subprime mortgage trades a decade ago, predicted doom — suggesting “this is March, April 2007 again” for credit and equity markets....
...Only 0.66 per cent of mortgage holders failed to keep up payments in July, according to S&P and Experian....
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