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Blackstone's tax-free hedge fund pitch draws scrutiny
RETIREMENT RETIREMENT PLANNING AUG 15, 2022
Blackstone's tax-free hedge fund pitch draws scrutiny

Senate Finance Committee Ron Wyden has requested information about private placement life insurance, which can be used to shelter hedge funds and other products from taxes.

JPMorgan strategist sees stocks bouncing back to record highs within next three years
NEWS INDUSTRY NEWS AUG 12, 2022
JPMorgan strategist sees stocks bouncing back to record highs within next three years

JPMorgan Asset Management’s David Kelly says rebound is 'eminently doable' as the economy cools further.

Vanguard wrests BlackRock’s spot as manager of world’s biggest bond ETF
INVESTING MUTUAL FUNDS AUG 10, 2022
Vanguard wrests BlackRock’s spot as manager of world’s biggest bond ETF

The Vanguard Total Bond Market ETF, with assets of roughly $83.8 billion, has surpassed the $83.2 billion iShares Core U.S. Aggregate Bond ETF.

House Democrats pushing for SALT say they will vote for Biden tax bill
NEWS REGULATION AND LEGISLATION AUG 08, 2022
House Democrats pushing for SALT say they will vote for Biden tax bill

Representatives Josh Gottheimer, Tom Suozzi and Mikie Sherrill, who have led efforts to include an increase to the $10,000 cap on deductions for state and local tax, will support bill.

Tax bill would empower IRS to collect hundreds of billions of dollars from wealthy Americans
NEWS REGULATION AND LEGISLATION AUG 08, 2022
Tax bill would empower IRS to collect hundreds of billions of dollars from wealthy Americans

A much better-funded Internal Revenue Service would be equipped with new auditors and technology to uncover tax avoidance.

BlackRock sees investors turning to thematic ETFs to hedge against inflation
INVESTING ESG AUG 08, 2022
BlackRock sees investors turning to thematic ETFs to hedge against inflation

Interest seen in infrastructure, food-related and clean-energy themes as investors look for long-term structural trends.

Pimco sees $29 billion in outflows as rate hikes hit bond funds
INVESTING FIXED INCOME AUG 05, 2022
Pimco sees $29 billion in outflows as rate hikes hit bond funds

The global sell-off in bonds results in the second straight quarter in which the asset management company's clients pulled money from its funds.

BlackRock partners with Coinbase to expand into crypto
INVESTING ALTERNATIVES AUG 04, 2022
BlackRock partners with Coinbase to expand into crypto

Institutional investors will be able to use BlackRock's Aladdin investment management system to oversee their exposure to bitcoin along with assets such as stocks and bonds.

Morningstar probed by Missouri over its ESG evaluations
INVESTING ESG AUG 04, 2022
Morningstar probed by Missouri over its ESG evaluations

The state attorney general is looking at whether the company or its Sustainalytics unit violated a consumer protection law or another law that prevents the state from entering into contracts with companies that boycott goods or services from Israel.

Robinhood slashes 23% of workforce; chief product officer departs
YOUR PRACTICE FINTECH AUG 03, 2022
Robinhood slashes 23% of workforce; chief product officer departs

The app-based brokerage's reductions were concentrated in operations, marketing and program management functions.