BlackRock profits rise, sales hurt by investor sentiment | News

BlackRock profits rise, sales hurt by investor sentiment | News

Tuesday, October 16, 2018 6:28 a.m. CDT By Trevor Hunnicutt (Reuters) – BlackRock Inc reported a better-than-expected quarterly profit on Tuesday, helped by lower taxes, but the company’s sales growth sank as investors cut risk in their portfolios. The company’s revenue and earnings before interest and taxes nonetheless fell short of Wall Street’s estimates as BlackRock reported its lowest sales of equity, bond and other long-term investments since the second quarter of 2016. Investors pulled money from the asset manager’s institutional stock index funds, while putting more into ostensibly lower…

Columbia Threadneedle Investments Licenses ActiveShares℠ Exchange-Traded Fund Structure

Columbia Threadneedle Investments Licenses ActiveShares℠ Exchange-Traded Fund Structure

BOSTON–(BUSINESS WIRE)–Columbia Threadneedle Investments today announced that it has entered into an agreement with Precidian Investments LLC (“Precidian”) to license Precidian’s ActiveShares℠ methodology. The Precidian model, subject to applicable regulatory approvals, would allow Columbia Threadneedle to deliver its actively-managed investment strategies in an ETF without disclosing the ETF’s portfolio holdings daily, as required of actively managed ETFs. Precidian is currently seeking approval from the Securities and Exchange Commission (SEC) for the use of ActiveShares by asset managers. Dan Beckman, Head of U.S. Product at Columbia Threadneedle, said: “We are committed…

iShares S&P US Pref Stock Idx Fnd (ETF)(NYSE:PFF): Defensive Plays In Focus

The S&P 500-based (SPY – Free Report) lost 5.3% in just past two days (as of Oct 11, 2018), Dow Jones Industrial Average-based (DIA – Free Report)  slid about 5.3%, iShares MSCI Emerging Markets ETF (EEM – Free Report) slipped about 4%, Vanguard FTSE Europe ETF (VGK – Free Report) fell 3.2%, iShares MSCI Japan ETF (EWJ – Free Report) shed about 4.2% and all-world ETF iShares MSCI ACWI (ACWI – Free Report) retreated about 4.5%. The year 2018 has been all about rising rates. Though trade tensions keep a check on the fast rise of U.S. treasury yields in the July-August period, yields started trending higher starting mid-September. Benchmark U.S. Treasury yield was…