- BlackRock Bitcoin ETF Fastest to Reach $10bn “The iShares Bitcoin Trust, BlackRock’s spot bitcoin exchange-traded fund, has become the fastest ETF to reach $10bn in assets under management, taking just 37 trading days.” (Markets Media)
- PIMCO proposes its first mutual fund-to-ETF conversion “If the reorganization is approved and completed, it would mark the first time PIMCO has converted a mutual fund into an ETF, a PIMCO spokesperson said. The PIMCO Mortgage-Backed Securities Fund had $141 million in total net assets as of Jan. 31, PIMCO's website shows.” (Pensions & Investments)
- Restructuring Wave Coming for Private Equity “This is one record private equity isn’t proud to have broken in 2023. A record number of PE-owned companies filed for bankruptcy last year. Heavy debt loads paired with rising interest rates have put tremendous pressure on these company’s loan payments, driving many into bankruptcy.” (Mergers & Acquisitions)
- Asset Management M&A Declined in 2023: Report “Asset and wealth management firms executed 384 transactions in 2023, down from a record 416 deals in 2022, according to Piper Sandler. Acquisitions of alternative managers represented the greatest share of deal-making activity, as firms bolstered their alternative investment capabilities, with 73 deals in 2023 compared to 86 in the previous year.” (FundFire)
- Investors Shun Long-Term ETFs as Fed Rate Cut Outlook Worsens “These flows come as inflation has remained stubbornly above the Federal Reserve's 2% target. The January Consumer Price Index arrived at 3.1%, higher than the expected 2.9% and the Producer Price Index also failed to meet forecasts. Meanwhile, the employment market, a widely watched measure of economic expansion has shown continued strength with unemployment not far off all-time lows.” (ETF.com)
- Blackstone REIT Fulfills 100% of Repurchase Requests for the First Time Since 2022 “The company reported that it received $961 million in repurchase requests, which was 26% lower than January 2024 and down 82% from the peak of $5.3 billion requested in January 2023. February’s requests fell below the fund’s redemption policy limit that allows for 2% of its net asset value (NAV) to be redeemed per month, and a total of 5% per quarter.” (The DI Wire)
- How to Get the Most Out of Your Bond Investments “But the investment-grade bond market has had a tough time lately. If you take out a rally in late 2023, the investment-grade bond market was on track for its third losing year in a row. So, it lost 13.0% in 2022, and 1.7% in 2021. And we wrote this paper because we think investors can do better.” (Morningstar)
- SEC Delays Spot Ether ETF Applications From BlackRock and Fidelity “The SEC questioned whether the consensus system makes Ether vulnerable to a ‘concentration of control or influence by a few individual entities,’ potentially raising ‘unique concerns about Ether’s susceptibility to fraud and manipulation.’” (The Defiant)
- Partners Grpup launches dedicated NAV financing vehicle “Partners Group Fund Financing Solutions will invest in primarily GP-led and LP-led NAV loans and opportunistic investments, including NAV preferred equity investments.” (Private Equity International)
- Cathie Wood’s Ark is suffering from a discouraging trend “Some of Wood’s customers apparently have had enough. Even in a good year — again, Ark Innovation ETF has climbed 32% over the past 12 months — it has lost a net $1.3 billion of assets, according to VettaFi, an ETF research firm.” (The Street)
- Should Target-Date Funds Allot More to Equities? “Now that target-date funds have become the 401(k) option, they no longer need to justify their approaches. Everybody accepts their thesis that employees should invest heavily in stocks when they first begin working, then scale back over the years. The question is not why target-date funds use downward-sloping glide paths; it is why their potential rivals do otherwise.” (Morningstar)
- Gold Hits Record Highs: Is It Too Late To Invest? “Elsewhere, Citi analysts said they are medium-term bullion bulls and assign a 25% probability that the yellow metal will average a record $2,300 per ounce in the second half of 2024. ‘In a low probability wildcard scenario, nominal gold trading could reach $3,000/oz in the next 12-16m,’ they declared.” (Investing.com)
- Bitcoin ETF assets more than halfway to surpassing gold funds “As bitcoin ETFs continue to see net inflows and BTC’s price rises, the assets moving into such funds have reached more than half of those in the gold ETF category. The 10 US spot bitcoin ETFs have eclipsed the $50 billion assets under management mark — reaching about $52.5 billion on Monday, according to BitMEX Research data.” (Blockworks)
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