BlackRock Launches Thematic ETF for Metaverse Firms

We remain defensively positioned as the tightness in monetary policy and credit conditions continue to impact overall activity within economies around the world. In the UK, there was more volatility in the housing market as the UK’s two largest lenders, Halifax and Nationwide Building Society, both reported a fall in house prices for April, suggesting the market had not seen its traditional spring boost. If you would like to find out more about how we manage clients’ investments, please contact us on the same number as above.

The news in the commodity market focused on the increase in oil prices over the week due to Saudi Arabia’s promise of a production cut in July, following the meeting of OPEC+ in Vienna earlier this month. In the fixed income market, yields have been volatile but within a relatively constrained range due to investor speculation over the Fed’s next move on interest rates. On the corporate front, artificial intelligence (AI) continues to be a prominent trend, as Oracle reported strong sales figures and raised its guidance to the surging demand genrative ai for AI infrastructure. Adobe also reported record revenue after adding generative AI technology to Photoshop. With encouraging signs of continued growth in the economy and falling inflation, the Federal Reserve (Fed) announced a pause in rate hikes at its June meeting, after 10 consecutive increases. Although it appears it will be a ‘skip’ rather than a prolonged pause as Fed chair Jerome Powell noted that “nearly all” committee members expect it will be “appropriate to raise interest rates somewhat further by the end of the year”.

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But perhaps equally important, is that we are moving from a sedative period of QE to one of QT, where central banks will no longer be mopping up excess bond supply, but instead adding its own. Goldman Sachs launches three more actively managed thematic ETFs Goldman Sachs has… Amplify emerging markets fintech Independent ETF provider Amplify is launching an… AdvisorShares launches drone ETF AdvisorShares, an actively managed ETF specialist known… BlackRock launches active thematic ETF BlackRock is launching an actively managed…

Perhaps less surprising was the announcement by China’s Politburo that it would be providing fresh policy support to stimulate economic growth which has disappointed since China reopened, after abandoning its zero-Covid policy late last year. Global equity markets (+3.2%) rose strongly over the month, in local currency terms. Regionally, the prospect of policy stimulus from China helped emerging market stocks (+5.4%) generate some of the strongest returns. The US stock market (+3.4%) also performed well due to increased hopes of an economic ‘soft-landing’ and its relatively high exposure to AI related companies.

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Prior to joining the firm, Simon worked as a senior investment analyst at XL Group, a global insurance and reinsurance company, within its investment management division. Further experience includes working at UBS Investment Bank within their economic research department as an economist and strategist, focusing on emerging European markets. New York-based financial services group BlackRock has launched a thematic equity fund aimed at tech companies molding the development of the metaverse. The Roundhill Generative AI & Technology ETF launched yesterday in New York on ARCA. The ETF is an actively-managed strategy and is investing across the value chain of AI generative technology. While, in Spy’s opinion, AI has been an overused term for a while, generative AI is more specific.

In terms of real assets, listed property and infrastructure stocks performed roughly in line with equities over the month with the global listed infrastructure (+2.1%) and global REITs index (+3.8%) both generating positive returns. Commodities (+6.3%) generated the best returns for the month, however, there was significant divergence across the different markets. Crude oil (+16.1%) and industrial metals (+6.9%) were the strongest areas. Oil prices were buoyed by additional supply cuts by Saudi Arabia, while industrial metals were helped by the expectation of economic stimulus measures in China.

Fund Selector Asia provides up-to-the minute news, tools and professional resources for key fund selectors and distributors across Asia in both the wholesale and institutional sectors. No news, articles or content may be reproduced in part or in full without express permission of Fund Selector Asia. According to Roundhill, generative AI is beginning to have a significant real-world impact. OpenAI’s ChatGPT has become the fastest application ever to reach 100 million users, and its customers are already integrating its technology for diverse tasks from creative writing to coding software.

Information technology (+11.6%) remained the best performing sector while real estate (-2.3%) was the worst over the last 30 days. Gold (-1.2%) has been weak as the opportunity cost of holding it increases as interest rates rise. In the fixed income market, bond returns have been much lower than equity returns of late. The risk-on tone and concerns over inflation have led government bonds to underperform. July was another good month for equity markets, with declining inflationary pressure, relatively resilient economic data (particularly out of the US) and continued excitement over artificial intelligence (AI) all providing support. However, further interest rate rises and hawkish rhetoric from central banks, given the uncertainty about how ‘sticky’ underlying inflation will be, meant that government bonds struggled despite promising signs in terms of headline inflation.

Investors have finally begun to mark down start-ups that had ballooned in value. Huge value is being created in companies you have never heard of, right now. The sector score, meanwhile, assesses the materiality of generative AI and related technologies to the company’s expected financial performance. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. In terms of real assets, our indirect holdings in property and infrastructure followed equities lower over May but remained in line with their benchmark indices. Interestingly, our more defensive direct holdings in care homes and 3i infrastructure outperformed.

VanEck CLO ETF with PineBridge VanEck has launched an actively managed collateralised… BlockRock actively managed floaties ETF BlackRock is launching an actively managed… According to BlackRock, genrative ai its fund will go towards companies that contribute in the development of virtual platforms, gaming, 3D software, digital assets, social media, and virtual and augmented reality.

Amplify launches thematic-of-thematics ETF, combating cannibalisation New York-based… HANetf adds to Europe’s swelling cleantech pile European white-labeller HANetf is teaming… KraneShares launches active ETF of ETFs KraneShares, the New York China ETF specialist,… LGIM launches Indian bonds ETF LGIM has listed an Indian bond ETF that aims to make the… Direxion launches nanotechnology ETF, closely following ProShares Direxion has launched…

In the same way a barrierless bowling lane highlights a truly accomplished bowling team. Volatility creates opportunities for active managers to add value for clients, by using their skill to target the most attractive bonds, avoid the worst, and in doing so allocate capital to its most efficient use. The opposite is true, however, for the unskilled manager, whose fallibility is brought to the fore by volatility. Thankfully, the dice roll paid off and economies have rebuilt themselves from their nadir, but not without a cost to market stability. Any individual investment or security mentioned here may not be suitable, and is included for information only and is not a recommendation. According to research out from Pitchbook, for the first time in more than a decade, returns for venture funds were negative for three consecutive quarters last year.

The FSA Spy market buzz – 25 August 2023

The fund is linked to Morningstar Global Metaverse & Virtual Interaction Select Index, which selects constituents from a wide range of stocks from developed and emerging markets. JP Morgan’s leonine CEO, Jamie Dimon, told US regulators that they should consider a ban on the short selling of bank stocks. Spy is not exactly sure why Dimon thinks banks are so special they should not be subject to market forces. Expecting a firm’s share price to fall is not the same as expecting the firm to go bust. After all, JP Morgan is perfectly happy to run and market the JP Morgan Opportunistic Equity Long Short Fund, which just happens to hold short positions in, err, financial stocks.

Roundhill is predicting that generative AI could soon be a $120bn annual business. Perhaps, a tad amusingly, it is good old-fashioned humans making the investment decisions. Elsewhere, The People’s Bank of China cut its one-year medium-term lending facility rate by 10 basis points to 2.65%, as Beijing attempts to shore up its shaky economic recovery. The Bank of Japan, meanwhile, maintained its loose monetary policy and ultra-low interest rates despite stronger-than-expected inflation, but this dovish decision led the Japanese yen to weaken.

• In the fixed income market, bond returns have been much lower than equity returns of late.
• Information technology (+11.6%) was by far the best performing sector over the last 30 days, while consumer staples (-4.5%) was the worst.
• In its simplest form, QE is the process by which central banks buy longer term sovereign bonds in the free market.
• The above has been published by Proactive Investors Limited (the “Company”) on its website and is made available subject to the terms and conditions of use of its website (see…

In terms of style, value / cyclical stocks (+4.1%) marginally outperformed growth (+3.2%) orientated equities. This pattern was also reflected in the sector performance, with energy (+6.5%), communication services (+6.3%), materials (+5.5%), and financials (+5.3%) by-far the best performing areas. At the other end of the spectrum, information technology (+2.6%), utilities (+1.9%), and healthcare (+1.5%) sectors trailed the most.