Hints and tips:
...Pimco has proposed its first mutual fund-to-ETF conversion, according to a regulatory filing....
...Overall fees for the mutual fund, which is offered in institutional shares as well as Class I, Class A, Class L, Class C and Class R6 share classes, range from 37 bps to 152 bps....
...Bartolini said actively managed ETFs were “building momentum”, helped by the ongoing conversion of mutual funds into exchange traded equivalents and derivative-heavy vehicles such as the JPMorgan Equity...
...The past year, we have seen 16 such conversions, bringing the total number of mutual fund to ETF conversions to-date to ~40, with nearly $60Bn in assets....
...In mutual funds that invest in mainstream public markets, the persistence of performance is historically weak-to-negative....
...L Gates....
...JPMorgan managed to increase its ETF assets by 24.6 per cent to $99.8bn to move into the top 10 of the global rankings, thanks to conversion of some of its mutual funds to ETFs and rising demand for active...
...He said these types of funds had “come of age” this year with record levels of product launches and fund conversions....
...The stock has also soared from $31 to $135.34 since that listing, inclusive of an over 100 per cent gain in 2021, dramatically outperforming the S&P 500....
...“The ETF has been around for 18 years, but it’s now adding the companies that have become public this century,” said Todd Rosenbluth, head of ETF and mutual fund research at CFRA Research....
...The company hopes to execute the conversion of its $17m Dividend Builder and $4m Asia Dividend Builder mutual funds into ETFs on December 18, the company disclosed....
...A Vanguard spokesperson told the FT that $22.8bn of its ETF inflows so far this year were conversions from existing mutual funds....
...I very much believe it's going to be a very strong third pillar for our business, and I think it could be a significant P&L contributor to our company, definitely within five years, and definitely within...
...That deal, if it goes through, will make the household US name the first foreign company to fully own a mutual fund business in the mainland....
...However, the outlook is uncertain, rising one-offs make P&L valuations less relevant and cash conversion is declining. In addition, top management changes add another layer of complexity....
...Following 9 quarters of consecutive net outflows we estimate Q220 mutual fund net inflows of +£0.4bn, with a recovery seen in funds such as Dynamic Bond fund....
...Natixis said on Tuesday evening that “the case . . . is a purely internal procedure that is by no means related to a P&L loss and has no impact whatsoever on Natixis’s clients or businesses”....
...through the P&L....
...Our forecasts assume the full £500m is invested in land in FY20, and that the benefit in the P&L is seen later 2022 but to a larger extent in FY23....
...K&L Gates has added David Owen as counsel to its asset management and investment funds practice. Owen joins from Allianz Global Investors....
...£2.2bn of outflows so far this quarter: We estimate the combined Jupiter/Merian business has experienced £2.2bn of net outflows from mutual fund products already in Q1 (we track 87% of the combined AUM...
...Increased focus on the home, reversing some L-T adverse trends....
...What happens further down the P&L is largely a question of capital structure, but it appears most will be either loss-making or make only marginal PBT....
...The company has announced an interim dividend of $101m ($0.9531 p/s) and is launching a new $67.3m share buyback today....
...Overall, while the stock trades on only 0.25x P/TBV there remains no visibility on when it will generate sustainable profits....
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